TPD Insurance Claims: Who is Covered?
TPD insurance claims can be made by those who have a policy in place and who suffer a serious illness or injury that renders them unbale to ever return to work. TPD insurance is often held through superannuation, where the lump sum payable from a successful claim will be distributed to the fund before being distributed to the life insured. The money you get from your insurance makes it easier for you to manage financially given your inability to return to work and earn money due to your injury or illness.
Making a TPD Claim through Your Super
While superannuation funds do vary in terms of the quality of cover that they offer, most do include TPD insurance to some degree. However, the level of cover varies from one policy to another, so it is crucial that you keep abreast of the amount that you have in place as well as how this will change over time. If you need to make a TPD claim through your superannuation fund, it may be of significant benefit to get assistance from a claims adviser with experience and expertise in this matter. This is because the process of TPD claims can be a lengthy and complex one for those who are unfamiliar with making this type of claim. A TPD claims advisor can take you through the process step by step, which makes things a lot less stressful because you have access to expert claims advice.
In order to successfully make a superannuation TPD claim, you will typically need to demonstrate that you, as a result of injury or illness, are unable to return to your work or any other work you are suited to by way of training, education or experience. If a medical condition has stopped you from working for a period of around six months, and if unlikely to be able to do that type of work again for the same reasons, you may be able to make a successful TPD claim. The above applies to an ‘Any Occupation TPD’ policy, that which is most commonly found through super. Outside of Super you may well have an ‘Own Occupation’ TPD policy which only requires you to be unable to ever work again in the occupation you were in immediately prior to disablement. As you can see, there are many things to consider and speaking to an expert TPD advisor will enable you to better determine the likelihood of success as well as providing you with information on what you need in order to make a TPD claim.