When you take out a superannuation fund in New South Wales, you have the option to take out Insurance Protection. Superannuation funds are not regulated by state or federal governments, so each individual insurance protection policy will be designed and regulated by the provider. This page is all about Insurance Protection Claims in New South Wales, and what you need to do to make your claim.
What is Insurance Protection in New South Wales?
Income protection ensures that your income is protected. It does this by paying part of your income for a set amount of time if you are unable to work during an illness or because of an injury. It pays up to 85 per cent of your pre-injury income for a specified amount of time, making sure that you and your family are still able to live life without the worry of missing out on a significant amount of income. Income protection can be incredibly important, especially if you are self-employed, have dependent family members, or if you have a mortgage to pay. Income protection insurance makes sure that you can still make the necessary payments without added strain or struggle.
You get to choose your waiting period for a claim when you take out income protection insurance. Usually, the waiting period for your insurance claim normally would be between two weeks and three months. If you pass the waiting period and you’re still unable to work, then you will have to prove to insurer’s that the reason you are unable to work is because of illness or injury.
How can I use an Insurance Protection Claim?
The payments provided can be used however you choose, such as:
- Paying off your mortgage
- Paying off your credit card and other similar debts
- Grocery payments and other necessary spending
- Maintaining your standard of living
- Keeping up with school fee payments
- Helping you with your recovery costs
How can What’s My Claim Worth help?
What’s My Claim Worth legal partners in New South Wales work on a No Win, No Fee basis. Meaning that you only pay legal fees if your case is successful and you receive your claim. What’s My Claim Worth can get you the legal representation you need to make your Insurance Protection claim. Superannuation funds and insurers are notoriously difficult for self-represented claimants to navigate, which is why we have partnered with the best lawyers in New South Wales to get you the result you deserve.
If you do win, there are, of course, costs involved. What those will be, does depend on the costs of the TPD claim lawyer you work with and their solicitor’s fees and disbursements. This is an important conversation to have when you begin discussing your case.
Why Choose What’s My Claim Worth?
What’s My Claim Worth not only allows you to calculate the value of your TPD death benefits claim in New South Wales with our claim calculator, we also work to connect you with our network of specialist TPD lawyers who can work with you to get you the best outcome — No Win, No Fee (excluding defendant costs if the claim is litigated).
