Superannuation & TPD Claims
Have a TPD Claim? We Can Help.
Compensation is money given in recognition of a person’s loss, suffering, or injury. While compensation isn’t typically associated with superannuation, which is the government’s compulsory saving for retirement scheme, your super fund can be a source of support if you have experienced an injury or illness that has severely impacted your ability to earn an income.
Total and Permanent Disablement (TPD) cover is a lump sum payment you can claim if you are permanently unable to work due to injury or illness. Many people with an active superannuation policy are not aware that they have this form of insurance. TPD is often bundled with death cover within a superannuation policy. If you are facing a serious illness or have been injured, you should always check to see what options are available to you.
Navigating Your TPD Claim
Finding out if your superannuation policy includes TPD cover can be challenging. A TPD claims lawyer can review your policy and product disclosure statement to determine if you are covered for permanent disability. Our compensation team specialises in superannuation claims and is highly skilled at ensuring you receive the benefits of any insurance policy that may apply to you.
It is wise to remember that the insurance company providing your TPD cover is not interested in paying out more than the minimum. You should ensure that you receive advice and put forward the best possible case before signing anything or completing any forms with your superannuation fund. This will help to ensure that you receive everything that you deserve.
What a TPD Payout Covers
The amount of a TPD payment varies based on several factors, including the age of the insured person, the nature of the disability and its financial impact, and the work they did before becoming disabled. TPD payments can be used to pay for medical expenses and can also be used for the daily costs of living if you are permanently unable to work.
These compensation claims can result in what seems like a very large payout, but it is important to remember that these funds may need to last for a long time. As this is a lump sum, it will be up to you to manage the money to help support you and your family now that your ability to earn an income has been impaired.
The Risk of Wrongful TPD Claims
You might think you can access your TPD without needing a solicitor. However, it is wise to seek professional advice. The insurance company’s interests are not the same as yours. A TPDclaims lawyer will ensure you receive the full benefits you are entitled to, preventing a wrongful TPD claim where you might be underpaid or unfairly denied. Our team will review your policy and help you prepare the strongest possible case to maximise your compensation.
Your First Step: Expert Legal Advice
If you need assistance, contact one of our lawyers at ad****@*****om.au or call 02 6621 2481 for a no-obligation discussion and expert legal advice.
Frequently Asked Questions
1. What is TPD?
TPD stands for Total and Permanent Disablement. It is a lump sum payment you can claim if you are permanently unable to work due to an injury or illness.
2. Is TPD cover included in my superannuation?
TPD cover is a form of insurance often bundled with death cover within a superannuation policy. Many people with an active superannuation policy are unaware they have this insurance.
3. How is the amount of a TPD payout determined?
The amount of a TPD payment varies based on the age of the insured person, the nature of the disability, its financial impacts, and the work they did prior to becoming disabled.
4. Do I need a lawyer for a TPD claim?
It is wise to seek legal advice because the insurance company is not interested in paying out more than the minimum. A lawyer can help ensure you receive everything you deserve.
5. What if I am facing a serious illness or injury?
If you are facing a serious illness or have been injured, you should always check your superannuation policy to see what options are available to you.