Every person that has worked in Australia will have a superannuation fund, and in some cases multiple superannuation funds. Employers must pay superannuation in addition to wages, and that superannuation payment will be made into the person's nominated super fund. Often people will have insurance for total and permanent disability (TPD) and income protection (IP) available through their super fund. A premium is paid to an insurer to keep that insurance which comes out of the super fund balance. Most people are not aware of the insurance they have or that they have been paying money (insurance premiums) to keep that insurance, which has depleted their super balance over the years.
Insurance is held with many super funds and can be worth tens of thousands or hundreds of thousands of dollars. Some private policies can be worth a million dollars. Everyone has a different policy of insurance and so it is necessary to obtain information about your individual entitlements. A lump sum TPD and/or IP payment can make a significant financial difference if you have been off work for a while as a result of injury, illness or disability. It is therefore important that you take steps to access that insurance.
We often hear stories from our clients that they had no idea they held insurance and they regret not speaking to us earlier. We are also often told that a client wasn't aware of the super funds we have located for them as the super funds were set up by their previous employers. We can perform a lost superannuation fund search for you so if you've been out of work for a while and don't know the name of your current super fund or your previous super funds, we can find this out. If you do have more than one super fund, there is a good chance you will be able to make more than one TPD lump sum payment claim. If you have been out of work for some time this can provide a much needed boost of money.
We are also often told by our clients that they have asked their super fund if they have insurance and their super fund has told them that they don’t hold insurance or it has been cancelled. We then perform a search for insurance and find insurance was in fact held at the date they last worked, but it was cancelled as a result of no super contributions being made to the fund. The person at the super fund simply looked at what insurance was held at the time of the call and not at the last date our client had worked. If that client didn't speak to us, they would have gone on without claiming their lost TPD insurance.
We understand that if you are unable to work and are looking at making a superannuation insurance claim you want the best TPD lawyers in Adelaide. At MKF Lawyers, we have a team of staff who are dedicated to securing lump sum TPD payments for those in need and will do all the hard work so that you don't have to. We work on a no win no fee basis so there's no charge for our work unless you succeed in your TPD claim. Assuming your claim is successful, we charge a fixed fee at the end of the successful claim so there are no surprises.
Contact MKF Lawyers for a free and confidential discussion about securing your TPD payment today by telephone on 08 7093 2998, by email to firstname.lastname@example.org or by text message to 0482 075 591.