So if you're about to make a superannuation insurance claim and want to make sure you do it right, this article can help get you started.
What kind of superannuation disputes are there?
Superannuation disputes come in all sorts of forms. The claim you make will depend on a variety of factors such as the policies you had in place, the injuries or bereavements you've endured and your location to name a few. But for the purpose of getting your head around the basics, we've split things into three major categories: Total and Permanent Disability (TPD), Income Protection Insurance and Accidental Death Benefit.
Total and Permanent Disability Claims
There are several definitions and requirements to meet when it comes to this type of dispute. But the key to this kind of superannuation insurance claim lies in the name. In order to be eligible for this kind of claim you must be able to prove total and permanent disability.
In order to be eligible, the claimant must be under 65 years of age as on the date of ceasing active employment, have ceased active employment as a result of injury or illness, be incapable, because of illness or injury, to work in any employment for which they are reasonably qualified by education, training or experience and have an insurance policy in place as on the date of ceasing active employment.
Other factors also come into play such as the labour market, the claimant's transferable skills and the practical likelihood of them gaining other employment.
Income Protection Insurance Claims
Income protection insurance or income disability insurance are types of cover that you get to secure your income in case you can't work as a result of injury or sickness. And whilst you may have diligently had this cover in place for a long time, the insurance company will inevitably try and pay out the smallest possible amount when a claim is made. It's therefore essential that you understand your rights as well as the ins and outs of your policy when making an income protection insurance claim.
Accidental Death Benefit
This kind of benefit is payable to a beneficiary on a pension or an insurance policy when the annuitant dies. Any dependant of the deceased can claim this benefit including any legally married spouse or a partner de facto, same-sex partner, financial dependents and children.
How do I make a superannuation insurance claim?
Like any other legal action, making a superannuation insurance claim is best left to the professionals. In order to get the payment and support you deserve, you should make your claim via reputable and experienced superannuation dispute lawyers.
Using qualified lawyers who specialise in this field will ensure that your paperwork is executed properly and that you don't get short-changed or taken advantage of by large insurance companies. After all, these companies will always try and pay out the smallest amount possible. With the help of qualified lawyers, you can make sure that you know your rights as well as the true value of your claim.
Conclusion
Superannuation disputes and insurances claims can be a real-life David and Goliath scenario. In order to give yourself the best possible chance at success, make sure you get professional advice from qualified superannuation dispute lawyers who can guide you through the process and advise you on your claim's value and worth.
