What are TPD Benefits?
The future can always be full of unwelcome surprises and unexpected tragedies that have the potential to irrevocably alter your lifestyle. In 2013-14 alone, there were almost 120,000 serious workplace injuries in Australia. Many of these resulted in the sufferer being unable to continue in their line of work for the foreseeable future.
It is important to be covered in case that disaster strikes and you become unable to support yourself or your family. Luckily, in Australia, financial protection against these scenarios is available. Total and Permanent Disability (TPD) benefits are made available for people who are unable to work in their normal occupation due to a debilitating injury or illness. Making sure that you are entitled to TPD benefits should be a priority for every working Australian adult.
What is Defined as Total and Permanent Disability?
If you have suffered a debilitating injury or have contracted a permanent incapacitating illness, you will be considered to have a total and permanent disability. Alternatively, if you suffer injury or illness that prevents you from working in your normal field you are also considered to be TPD. A total and permanent disability is officially defined in Australia as when:
- You are unable to work again in any occupation OR
- you are unable to work again in your usual occupation
Am I Entitled to Potential TPD Benefits?
In Australia, TPD insurance is often linked to your superannuation fund. Every super fund is unique, but the majority of them will have at the very least some level of TPD cover.
The amount of TPD entitlements your super gives you can be found in your fund’s product disclosure statement. This statement can be accessed by contacting your fund directly. In addition to super funds, all life insurance policies will provide TPD benefits to policy holders. If you are concerned about potential future benefits, it is advisable to seek legal advice to understand your options.
How Do I Claim TPD Through My Super?
If you have been rendered as having a total and permanent disability, it is important that you act quickly to claim your entitlements. It may be necessary to seek legal advice as soon as possible, as gaining access to your entitlements is not always straightforward.
It should also be noted that you are unlikely to find a lot of assistance from your fund during this period. To claim TPD through your super fund, you will first need to submit a claim form. When you submit your paperwork you will be required to provide documentation that proves your condition, including appropriate medical reports.
If you’re concerned about your TPD entitlements or are interested in making a claim, speak to a legal professional. Contact Dwyer Law Group today for an initial legal consultation.