This blog will explain the timeframe for a TPD claim, what is involved in the process, and why it could be delayed.
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TPD stands for Total and Permanent Disability Insurance. Total and Permanent Disability insurance benefits (also referred to as disability insurance benefits) are provided by many superannuation insurance funds across Australia. It is designed to provide thousands of people across Australia with a financial safety net for anyone afflicted with a permanent injury or illness. This blog will explain the timeframe for a TPD claim, what is involved in the process, and why it could be delayed.
When selecting your TPD insurance, you will be given the choice of any-occupation cover or own-occupation cover. These are the two distinct categories that you will have to choose from; any-occupation tends to be a cheaper cover because it is much harder to receive a claim from.
For the own occupation cover, if you choose to make a claim then you will be paid out if you can no longer able to work in your chosen occupation.
For any occupation cover, you will only be covered if you cannot return to the occupation that you have the education, training, and experience for.
With any claim, it’s important to make the claim within the time frame. This is so the claimant has continued financial security.
In general, a TPD claim will be processed and approved within a six month period of the claim being made. For more complex claims, however, this process could take up to 12 months. The time frame will be different depending on both the super fund and insurer used. Each insurer has its own requirements and time frames. So these elements, plus the complexity of your claim, could make the claims process take longer.
Once you have made a TPD claim, the claim sits with the insurance company for your super fund to be assessed for approval. This assessment will cover both the eligibility of your claim and the extent of your claim relating to the medical factors of the individual under the TPD policy. This assessment is normally completed within a six-month timeframe. If your TPD insurance is held as part of a superannuation policy, the claim is then passed onto the trustee of the individuals super fund to make their own separate assessment of the claim. This part of the process is faster than that of the insurance company, so is completed within 1-2 months.
As the claimant for TPD will in the majority of cases be unable to work, receiving the payout in a timely manner is of the utmost importance in all claims. The claims process will require the claimant, employer, and medical experts to fill out a variety of forms. Any delay in the filling out of said forms can derail the claims process and result in delayed approval. When making your claim, make sure to keep track of all relevant paperwork.
If your claim is not resolved within a reasonable amount of time then you can petition the courts for enforcement of your benefits.
For a smooth claims process, we recommend working with an experienced compensation lawyer so that you reduce the risk of unexpected delays in getting your claim approved. What’s My Claim Worth works with compensation lawyers all over Australia.
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