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What You Need to Know About TPD Insurance

If you have suffered an injury, illness or disability that stops you from going back to your job and doing what you did before, you could be eligible to claim a total and permanent disability (TPD) lump sum payment. This benefit can be used to fund your present and future medical bills and to pay off any debts that might have built up during your illness or injury. It can provide you with income to go towards returning your quality of life to an extent that is possible.

If you are unable to work due to illness or disability, most superannuation funds and insurance policies come with benefits to cover you if you can’t work or if you become ill or disabled. However, it can be a lengthy, stressful and complicated process to gain access to these benefits so you would be wise to consult a lawyer.

Am I Eligible?

Whether or not you are eligible to make a claim for TPD benefits will depend on your policy, and according to the requirements of your super fund or insurer. Insurers vary in what they require, however they have some requirements in common including:

  • The level of your disability – You will no doubt have to prove you have some level of disability before making your claim for TPD, and the insurer will take into consideration whether or not you can return to work, and if so, whether you can play the same role you did before your illness or injury occurred.
  • Your superannuation fund – You will need to find out either from your documentation or from your fund if TPD cover is included in your super policy, and obviously this will affect your ability to lodge a claim.
  • Waiting time – Most policies require you to wait for a certain time period after your injury or illness before lodging a claim so that all your symptoms and injuries can stabilise, allowing for a determination as to the full extent of your injuries and damage or the prognosis of your illness.
  • History of your employment – In some cases your insurance policy or super fund will require you to prove you have worked a minimum level of employment before you are eligible to seek a TPD payout. This is usually a number of weekly work-hours or the entire length of your employment.

Making a Claim

There are certain steps that must be taken in lodging a TPD claim successfully. This depends on your insurer, your super fund and your policy, and providing your cover is adequate to make such a claim. Be aware that the claim process can be long and arduous, so it is wise to seek proper legal advice from your lawyer to make sure you end up with the TPD benefits you are entitled to receive.

TPD Lawyers

At PK Simpson, our team of specialty lawyers are highly trained in the area of running TPD and Superannuation claims. Your first consultation is free and we’ll guide you through the process and explain our ‘no win, no fee’ basis, meaning you only pay legal fees if we are successful.

If you think you may be entitled to make a claim, or simply want more information call PK Simpson on 02 8999 7700 for a chat. Or, email enquiries@pksimpson.com.au.