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In our experience people are often unaware of their rights when it comes to making a claim for insurance benefits attached to their superannuation policy.
If you are suffering a medical condition or injury and have been forced to stop work you may be entitled to claim superannuation benefits in addition to other forms of compensation.
The payment of a lump sum TPD benefit can provide you with financial security and allow you to focus on your recovery and rehabilitation.
Stacks Goudkamp are Australia’s leading superannuation and TPD lawyers and can guide you through the complex policy documents, regulations and forms to ensure that you receive the maximum entitlements available to you.
Total and permanent disablement [TPD] cover may be available to you under your superannuation policy. This cover is separate and distinct from those contributions (or the account balance) made by your employer on your behalf to your nominated superannuation fund.
The TPD policy is in place to cover you in the event you are no longer able to work in your usual occupation for a medical reason or because of an injury. This includes both physical and psychological conditions and injuries.
You may be eligible to make a claim for total and permanent disablement TPD if you meet the following criteria:
It is not a requirement that you resign from your employment or that you are terminated from your employment before you are eligible to make a claim. However, most superannuation funds do require you to have been off work for a continuous period of six months before being eligible to make a TPD claim.
If you meet the above criteria, you may be eligible to make a TPD claim on this policy and receive a lump sum payment.
Some of the problems we experience when acting for people with a TPD claim revolve around the different definitions and TPD insurers investing more time fighting these claims with a black letter approach to the definitions. For example, the issue of whether ‘return to work’ means returning to any job as opposed to returning to your own particular job.
We also find that sometimes doctors can provide unhelpful comments or opinions in medical statements which causes more disputes and increases the length of time taken to assess the claim.
To Tom, Karina and the team from Stacks Goudkamp
Our expectations of your service to achieve Total & Permanent Disability Claim the actual outcome has largely exceeded our expectations.
Starting a superannuation claim will depend on the definition in your insurance policy.
Generally you can start a claim once you have been off work for a period of three or six consecutive months due to your injury or illness depending on the terms of your policy.
In some instances, you may be required to attend an independent medical examination.
In the event that your claim is rejected, we will discuss what further action you can take.
If you hold total and permanent disablement cover with more than one superannuation fund you can make a claim for the same illness or injury across each fund you are a member of if you have the relevant insurance cover.
Just because you are successful in one claim does not necessarily mean that you will be successful in another claim because each fund has its own policy terms and definitions.
Generally speaking if your employment has not been formally terminated there is no time limit in lodging a claim against your superannuation fund for total and permanent disablement.
If your employment has been formally terminated then you are required to lodge any claim for total and permanent disablement within two years of the date of termination.
If the superannuation fund rejects your claim after lodgement you will then have six years from the date the claim is rejected to commence court proceedings.
There is no tax payable if you are aged 60 years or over.
If you are not 60 years or over any amount received as a result of a total and permanent disablement claim will require you to pay tax. The calculation differs from person to person and from fund to fund if you have multiple funds.
If successful in your claim your superannuation fund will automatically calculate the amount of tax payable on your behalf and forward this directly to the Australian Taxation Office.
Your superannuation account balance is usually paid only when you retire from the workforce on or after reaching the preservation age however, in some circumstances, you may be able to make an application for the early release of your superannuation account balance.
Generally speaking, early access to your preserved benefit may be possible if:
Further, preserved superannuation benefits can also be released early on compassionate grounds if the money is required for:
We have over 40 years combined experience in superannuation and TPD claims. We pride ourselves in providing clear, quality advice every step of the way. With experience settling more than [percentage] of successful claims, you can rely on us to attain the result you deserve from your claim.
Contact our superannuation and TPD insurance lawyers now for an obligation-free chat about your circumstances.
Engaging an expert TPD lawyer at Stacks Goudkamp will allow you to focus on caring for yourself and your injuries and maximise your settlement amount, saving you significant time, stress and money in the long run.
After obtaining the relevant documentation from your superannuation fund if it transpires that we cannot assist you in your claim, or we feel that you do not have any prospects of success, we will not charge you for any work that we have previously performed. During the administrative stage of lodging the claim and providing additional details the superannuation fund is not liable for your legal costs. Further, the fund is not liable to pay any of your legal costs unless and until we successfully pursue court proceedings.
Our costs agreement carefully sets out and contains fee estimates for the various stages of the claim both pre-litigation and post-litigation.
Our expert superannuation and TPD lawyers will act for you on a no win, no fee basis, meaning you won’t pay a cent unless we win your claim. When your claim is finalised, the fees will come out of your settlement figure, meaning you will have no out-of-pocket legal fees.
The amount of compensation you receive from making a TPD claim will depend on the amount you are insured for under your policy. Your benefit amount will be set out on your superannuation member statement.
If you qualify for a lump sum payment as a result of total and permanent disablement TPD you may also be able to make a claim for the early release of your accumulated superannuation funds (the superannuation paid by your employer).
Income protection benefits are designed to reimburse you for lost wages which you would have earned had you not become incapacitated by way of your injury, illness or medical condition.
It is important to note that income protection benefits are invariably offset against statutory workers compensation weekly payments, compensation lump sums, centrelink payment, veteran affairs pensions and other disability insurance benefits. This is not always the case and will, of course, depend on the terms of the offset clause contained in the relevant insurance policy.
There will be a waiting period before income protection benefits commence. The waiting period will usually be between one month and six months.
We are dedicated and the leading No Win, No Fee personal injury lawyers in NSW. For over 40 years, Stacks Goudkamp has been helping injured Australians to receive the compensation they need and deserve.
We are dedicated and the leading No Win, No Fee personal injury lawyers in NSW. For
over 40 years, Stacks Goudkamp has been helping injured Australians to receive the
compensation they need and deserve.
Call or Email us to start the process and to receive expert legal advice for personal injury or compensation claims. Seek the professional support you deserve on (02) 4058 2715 or enquire online through our website.
We are just a call or email away. Do not struggle with complex personal injury claims processes and in dealing with insurance companies on your own. We are here to listen and to help you to get the compensation you deserve.
We will not charge you for a comprehensive initial consultation where we will listen to your needs and provide you with free detailed advice. Compassion is what drives us. You can be sure that your questions will be answered.
Here, we will explain the next steps and what it takes to achieve the best possible outcome.
We will not require you to pay our legal fees, or any expenses (disbursements), unless we win your personal injury claim i.e you receive compensation. We know that being injured can result in terrible financial pressures.
We pride ourselves on giving every injured Australian the peace of mind that we will look after them by acting on a no win no fee basis for their compensation claims.
Contact your local team for a free consultation to find out if you are eligible for compensation