7 Tips to Ensure a Successful Superannuation Claim

Superannuation claims typically happen upon retirement; however, you can access it under particular circumstances, such as injuries and accidents that prevent you from working. Besides filing a workers’ compensation claim, you are also entitled to a superannuation claim. Superannuation policies usually have insurance covers so you can ask for a lump sum payout. You could make an early withdrawal even if your injury or accident did not happen at work.

1. Understand the Types of Claims

There are four types of superannuation claims: unpaid super, disability benefits, death benefits, and early access. It is essential to understand the nature of the application to make the process more straightforward. The employer’s contributions to the superannuation reserve usually cover the Total and Permanent Disability (TPD) insurance for their employees.

Your employer is mandated to contribute every three months if you earn a minimum of $450 monthly before taxation in Australia. Death benefits go to the beneficiaries like the dependants, surviving partner, estate, or children. If you wish to make an early withdrawal of your super, seek the advice of an expert to understand its implications to your retirement savings.

2. Know your Entitlements and Rights

A lot of people are oblivious of their entitlements or even that they have superannuation insurance. The employer must pay super contributions for the employees, whether salaried, casual, or full/part-time. Employees under the age of 18 years or domestic/ private workers must work over 30 hours a week to qualify for the fund.

Delayed or missed payments affect your super balance because your investment only grows when the money is in your account. You have a right to contact the fair work ombudsman and ATO if you find issues with your superannuation balance.

3. Proper Management of Paperwork

Mistakes in the paperwork may lead to the rejection of your superannuation claim; a slight error can affect your request. The documents are typically long and complicated; hence it can be challenging to someone without expertise in the subject. For example, you may need to fill 20 to 30 pages for a Total Permanent Disability (TPD).

It is better to seek professional assistance to fill the forms based on the needed requirements and include all the evidence and information. The best attorneys like bt lawyers Brisbane make the process simpler and dedicate their time towards getting you the desired outcome.

4. Act Swiftly

To avoid missing your claim due to time limits, make sure you file your super claim as soon as possible. Gather and file the necessary papers in time to avoid a last-minute rush, which may result in avoidable mistakes. Starting early also ensures that you have enough time to handle complexities that you may encounter.

5. Dealing with Unreasonable Requirements

In most cases, insurers will request sensible requirements to validate your claim. However, they can make unreasonable demands such as undergoing an independent medical exam from doctors without the expertise to make an informed examination of your injury or illness. For example, they can send you to a neurologist instead of a psychiatrist for mental issues.

Insurers can also send you to more than one doctor with the same speciality to choose the results that will support their decision to deny your claim. Failure to handle these issues will affect the outcome of your request.

6. Know When to Go To Court

Insurers approve most of the superannuation applications hence eliminating the need to go to court. However, sometimes it is necessary to obtain the right outcome, which may compel you to file a lawsuit. It may be challenging to handle a case if you do not prepare well or have the necessary expertise. It is essential to examine the prospects of success and merits before deciding to take legal action.

7. Knowing that the Insurer’s May Be Different from Yours

Insurers will not make it easy for you to get your claim; they will make unreasonable requests, delay your application, look for loopholes, and find other reasons to deny your claim. Understanding that you may encounter resistance helps you find ways to counter their attempts in time and increase your entitlements.

Accessing your superannuation claim ensures that you enjoy your retirement or continue to meet your needs after an injury or illness. Therefore, it is vital to increase the chances of receiving your superannuation by adopting a working plan.

About the Author

Kim Hemphry is a passionate expert in the areas of Legal Matters, learning and education. She has been featured on over 50 leading Legal and education sites and is a modern thought leader in the field.