Insurance payments can range from thousands to hundreds of thousands of dollars depending on your personal circumstances. However, they can also be complicated, so it’s worth speaking to a professional if you want to make sure you’re being properly compensated.
What you may be able to claim
Depending on your situation and the insurance you were provided with when you opened a super fund, you may be able to claim for one or more of the following:
- Income Protection Benefits. You may be entitled to this if you are temporarily unable to work due to an injury or illness and you have some kind of income protection insurance through your superannuation fund.
- Total and Permanent Disability Benefits. TPD claims are made if you have suffered an injury or illness that has made you permanently disabled and unable to work in your specific occupation or any occupation again.
- Permanent Impairment Benefits. If you’re injured during your employment and your injuries are permanent, you may be entitled to make a lump sum permanent impairment claim. This is in addition to weekly payments of compensation and medical expenses.
- Trauma Insurance Benefits. Trauma insurance provides you with a one-off, lump-sum payment if you’re diagnosed with a serious illness or you suffer a life-changing injury. Super funds no longer offer trauma insurance but if you had an account before 2014, you may still be able to access trauma cover.
- Death Benefits. If you pass away, your loved ones may be entitled to a lump sum payment, even if you didn’t select a beneficiary (the person/s who receives the compensation) or were aware that you held insurance through your super fund.
As you can see, there are several types of compensation you may be able to claim, which can be overwhelming. Our dedicated team of claim advisors can help though. They can assess your situation and put you in touch with a no win, no fee lawyer that best matches your particular case.
Are you eligible for compensation?
You might be able to make a superannuation claim if:
- You have suffered an injury or illness that has prevented you from working for a minimum of three consecutive months and your employer was paying compulsory superannuation.
- You have taken out insurance for income protection or TPD insurance.
Keep in mind that in most cases it doesn’t matter how or where your injury occurred — for example if it’s work-related or not. Eligibility generally comes down to the type of insurance cover you have. If you have more than one super fund, it’s also likely that you have more than one insurance policy — something our dedicated team can look into for you.
What compensation will I receive?
The compensation you receive will depend on the type of injury or illness you’ve suffered. This can include:
If you want a clearer idea of how much compensation you might be entitled to, you can use our online claims calculator. What’s My Claim Worth has developed a claim algorithm tool that takes into account your superannuation policy information and TPD benefit — as well as any other legal fees and government taxes — to give you an estimated claim range. This range is a worse-case to best-case scenario, based on the information you provide. We’ll also tell you if there are any other claims you may be entitled to based on the information you provide.
When you receive compensation, it doesn’t come out of your super fund. Rather, it comes from the insurance policy that is attached to your super fund, so your super balance is not affected.
Deciding if you need a lawyer
You can make superannuation insurance claims without a lawyer but it can be stressful and complicated. For example, TPD claims can be particularly difficult to submit without a lawyer because you need to meet specific disability criteria which can differ between states and certain insurance companies. It’s not uncommon for claims to take as long as 18 months to be resolved. Income insurance claims, however, are usually more straightforward and can take less time, provided that you are aware you have income protection attached to your super fund. Here’s how What’s My Claim Worth can help.
- Investigate your claim and entitlements. One of the most difficult parts about superannuation claims is finding out what type of insurance is attached to your super funds. Once you’ve got in touch with us, we will request details of all your super fund memberships so we can look into your entitlements for you. They can also identify other areas you might be able to seek compensation.
- No win, no fee. Our lawyers work on a no win, no fee basis, so you don’t need to worry about costs if your claim isn’t successful — you’ll only be charged a fee if you win.
- Obtain evidence. If you’re happy with the lawyer we’ve selected for you and want them to pursue your claim, they’ll get to work gathering evidence on your case. This is likely to include obtaining medical reports, income statements and in some cases, eye witness accounts.
- We’ll submit your claim. Once your lawyer has gathered all the relevant legal evidence, they’ll get you to sign some documents and submit your claim on your behalf.
- You’ll receive compensation. If your claim is successful, the payment or payments will go into your bank account as soon as possible. In circumstances where it’s declined, you can discuss with your lawyer about disputing the claim.
Frequently Asked Questions
How can I find out if I have insurance attached to my super fund?
You can call your super fund provider and they might be able to refer you to the insurer. Until 2020, everyone was automatically provided with some sort of insurance (usually life insurance) so even if you were not aware you were paying premiums towards a policy, there’s a good chance you have one. Keep in mind it could be the same case if you have other super funds.
What if I have multiple super funds?
You should be able to claim superannuation and related insurance policies on any or all of your funds at the same time. Our team can help you find any lost super accounts to ensure you don’t miss any.
How long will my claim take?
This depends on the type of claim you make. Income protection claims, for instance, are usually finalised within a few weeks and usually take no longer than three months to be resolved. TPD insurance claims tend to take longer, sometimes as long as 18 months, because you need to provide evidence that you’re unable to work in a certain occupation ever again.
What happens if my claim is rejected?
You can appeal the decision if it goes against you, either in court or by requesting the insurer to reconsider your claim. If this does happen to you, it’s worth seeking legal advice in order to ensure you put forward the best possible argument in favour of your claim.
What is no win, no fee?
No win, no fee legal services mean you’ll only be charged legal fees if your case is won. It means we only accept cases we believe that you will win and you don’t need to worry about being out of pocket if your claim isn’t successful.