What is an Income Protection Claim?

Some superannuation funds provide for default Income Protection Insurance for its members. Such members are entitled to claim for Incomes Protection benefits if the member has suffered a partial or total disability which results in a loss of income and the member meets the eligibility requirements as set out in the policy of insurance.

If a claim for Income Protection benefits is approved, then the member will receive a monthly payment calculated upon the member’s pre-injury income. However, the member’s Income Protection payments may be reduced by reason of any other supplementary income or benefits that the member receives for the injury or illness which prevents them from working. This could include entitlements such as Centrelink benefits, workers compensation payments, accident compensation pay or other disability payments.

The member is entitled to receive monthly payments from the insurer from the date that the member loses income due to the injury or illness and will continue to receive monthly payments for as long as the member is disabled or until the end of the benefit period as defined by the policy.

Once you confirm that you are covered by Income Protection Insurance you will need to satisfy the relevant definition as contained in the policy concerning disability. Usually, people who are unable to perform the important duties of their occupation as a result of injury or illness, and have consequently suffered a loss of income, are entitled to make a claim. The eligibility requirements, calculation of benefits, consideration of deductions and the like can be an extremely technical and difficult area. It needs not be.

Brydens Lawyers are experts in the prosecution of al Income Protection, Superannuation and Total and Partial Disability claims made on any superannuation fund. For expert legal advice and representation with respect to all your superannuation needs and any claims that may be available to you, do not hesitate to contact Brydens Lawyers without delay on 1800 848 848 or at brydens.com.au. At Brydens Lawyers #WE DO income protection, superannuation and disability claims.