Accessing Your Super if You've Suffered Permanent Injury or Illness

by Keith Hunter LL.B. (Principal, Hunter Solicitors)

Permanent injury or illness often brings great financial hardship to the sufferer and their family.  When ongoing medical expenses and associated costs like care assistance, are added to the day to day cost of living, savings and finances can quickly drain.

Many superannuation fund policies include total and permanent disability insurance cover, which can be claimed for even if the permanent injury or illness sustained is not work related. Some super funds even include limited total and permanent disability insurance cover automatically, when compulsory employer contributions have been made to the fund.

A lot of us simply think of superannuation as saving for future retirement, not realising that it can include a total and permanent disability insurance benefit, which can be drawn on in times of financial hardship following permanent injury or illness.

The trust deed and policy wording which defines total and permanent disability insurance cover (TPD), usually differs from fund to fund. So correctly interpreting eligibility criteria, as well as other components such as time limits or deadlines for making a claim, mean it is very important that you seek assistance from a lawyer. Some policies include conditions like a maximum age limit (usually 65 years), at the time the insured ceased employment because of permanent injury or illness, and a time limit within which a TPD claim may be made.

Seeking good advice from a lawyer will ensure that:

• the requirements of the trust deed and associated documents are correctly interpreted;
• all eligibility criteria is met;
• time limits and deadlines aren’t missed;
• the TPD claim is prepared and lodged correctly, to avoid rejection by the fund.

Get relief from financial hardship – contact Hunter Solicitors to discuss how we can assist you with making a successful TPD claim.