Superannuation, TPD and Income Protection Claims

What can a superannuation claim cover?

Often your superannuation account can have insurance policies included for extra personal protection. Depending on your superannuation policies—this can include Total Permanent Disability claims (TPD claims) and salary continuance or income protection claims.

What are TPD claims?

TPD claims allow you to be protected if you are unable to return to work—or you can no longer work in a role you are qualified, skilled, or educated for. This can be due to being diagnosed with a disease/illness or if you have had an accident that has prevented you from returning to work.

If I have multiple superannuation accounts all with insurance policies—can I claim against all of these?

Yes, you can claim against multiple TPD insurances and therefore, can recover the insured amount from each superannuation account.

What are salary continuance and income protection claims?

If you cannot work—salary continuance and income protection claims are designed to provide you with a replacement income. This replacement income generally will be a percentage of your actual income (e.g. 75% of your income prior to ceasing work). Replacement incomes typically have a waiting period. Your policy should outline how long the total benefits will last. For instance, some policies may be capped at two years, whereas others may remain until you reach a set age (i.e. 65 years of age).

Can I bring a superannuation insurance claim along with a motor vehicle, public liability, or workers compensation claim?

Yes, you can simultaneously pursue your negligence claim along with your insurance claim under your superannuation policy. It’s important to note that if you are receiving weekly benefits under your workers compensation claim—then your salary continuance/income protection claim may be reduced. This reduction will only be by the amount that you are receiving in workers compensation.

I'm unsure of where my superannuation is located—how can I find out?

Fraser Lawyers will be pleased to assist you in finding all the relevant details in relation to your superannuation claim. Alternatively, prior to engaging with Fraser Lawyers—you can contact the Australian Taxation Office (ATO) to find out where your superannuation accounts are located. Also, you can link your ATO account to your ‘myGov’ account to access additional information regarding your superannuation accounts.

To discuss your claim options in relation to TPD and income protection—contact one of our experienced personal injury lawyers today on (07) 5554 6116.