In Australia, Total and Permanent Disability (TPD) insurance policyholders often question if they can successfully claim TPD benefits through multiple superannuation funds. Sometimes, people forget they have contributed to more than one superannuation account and don’t know they can claim lump sum compensation because they have changed job roles several times.
Successful TPD claims from more than one superannuation policy can be complex, but the resulting lump sum payout is substantial. Our legal guide explains the following:
- TPD cover
- The eligibility requirements to successfully claim a permanent disability benefit on multiple policies
- The role of insurance premiums
- Scenarios involving multiple super funds.
About Total and Permanent Disability Policies
Before discussing the complexities of multiple claims, you must understand the basics of TPD policies. In Australia, most superannuation funds provide several life policies for their members, including income protection and permanent disability.
TPD insurance is designed to provide financial support to people with permanent disabilities that make it impossible for them to work. Once you meet specific criteria stated in the policy terms and conditions, you will receive a lump sum payment.
Simply put, TPD insurance is a lifeline because it provides essential financial help at a critical time. Unlike income protection insurance, which provides monthly payments, TPD policies offer a lump sum payment to help injured people pay for medical bills, daily living expenses, and ongoing care.
Eligibility to Make a TPD Insurance Claim
Eligibility for claiming TPD benefits relies on satisfying the rigorous criteria of each TPD policy. You must have comprehensive medical evidence supporting your total and permanent disability that shows how it prevents you from working.
To have multiple successful TPD claims, you need to prove that your disability is not only permanent but also stops you from working in any role that matches your education, training, or experience.
Can You Claim TPD More Than Once?
Yes, you can make multiple TPD claims for the same illness or injury when you have TPD cover through several superannuation funds.
If you have a Total and Permanent Disability and TPD insurance cover (either through a super fund or stand-alone policy), you can make one Total and Permanent Disablement (TPD) claim against each insurance policy.
As long as the TPD policy is in force when you become permanently disabled, you will likely be able to make a claim. Hence, making multiple successful TPD claims relies on thoroughly investigating all your superannuation accounts and insurance history. Thankfully, Aussie Injury Lawyers provides this service for free, including the value of your potential TPD payout. Get free advice now by Calling 1300 873 252
Can I Make Multiple Mental Illness TPD Claims?
A TPD claim is not only for a physical injury. A diagnosed mental illness can also be a total and permanent disablement when it impairs your ability to do your job. When you have TPD insurance with more than one superannuation fund, you can claim against each one for the same mental health condition.
More about mental illness TPD claims >
Can I Claim on Multiple Income Protection Policies?
Unlike a TPD claim, you cannot claim against multiple income protection policies. That’s because if you did so, you would likely earn more monthly benefits when not working than if you were doing your job.
If you have income protection insurance with multiple super funds, you could save money by cancelling the unnecessary insurance policies.
Legal Considerations for Multiple TPD Policies
Claiming a TPD benefit from multiple insurance policies is challenging because each policy has different terms and conditions. To succeed, you must meet the TPD definition of each insurance company. From a legal standpoint, several factors determine the feasibility of making multiple claims:
Policy Provisions and TPD Definition
Eligibility to receive a TPD payout depends on the language used in each policy. Hence, success relies on aligning the injured person’s condition with the total and permanent disablement definition.
Overlap and Coordination of Benefits
An Australian life insurance company could have clauses about coordinating benefits when a claimant has multiple TPD policies. These clauses determine how TPD benefits from different policies interact to ensure fairness.
Disclosure and Good Faith
Policyholders have a legal duty to disclose all relevant information to life insurers when applying for TPD insurance cover. Withholding information about relevant medical conditions or other policies could complicate the claims process and result in a denied claim.
Challenges for Successful TPD Claims
Making multiple successful TPD claims can deliver a significant TPD payment, but there are a few common challenges to consider:
Policy Limitations and Exclusions
Each TPD policy has specific limitations and exclusions that limit coverage. You must have a detailed understanding of each insurance policy to avoid rejected claims.
Claims Processing and Delays
Managing multiple TPD claims for the same injury or illness often creates administrative red tape and lengthy delays in receiving TPD benefits. You must be patient and persistent and follow the claims process of multiple insurers.
Legal Disputes and Denied Claims
Seeking legal guidance from an experienced TPD lawyer will help win each claim. Particularly when the insurer disputes your eligibility. Trust Aussie Injury Lawyer’s 99% success rate as your guarantee of a successful lump sum payout.
Navigating through these challenges requires a thorough understanding of:
- TPD benefit terms
- Meeting the TPD definition of all your insurance policies
- And the complexities of satisfying the expectations of each insurance company
Why Use a TPD Lawyer for Multiple TPD Payouts?
Given the complexity of making a TPD claim against multiple insurance companies, an experienced insurance claim lawyer will significantly increase your chance of success. They provide legal advice and help with the following:
- Locating your TPD insurance policies from each superannuation fund
- Reviewing policy documents and assessing the eligibility criteria to claim benefits.
- Expert guidance on the claims process, ensuring you meet or exceed all the requirements.
- Negotiating with insurers to maximise each TPD payout from multiple policies.
- Effective legal representation for each declined claim.
Get TPD Claim Legal Advice From a Specialist TPD Lawyer
When you are living with a total and permanent disability and can’t do your usual job, it’s reasonable to want to access the maximum financial resources to support your life. That’s when our experts in personal injury law help on a 100% no win, no fee basis.
Making a TPD claim through multiple superannuation funds and insurance companies is complex. Each has a different claim process and definition of permanent disability. Winning them all depends on accurate advice and ensuring you have enough medical evidence to compel the insurers to release each TPD payment.
Thankfully, our TPD insurance claim lawyers win 99% of insurance claims. You pay nothing until we succeed and nothing if you lose. It’s our No Win, No Pay, No Risk guarantee. Start now by calling 1300 873 252.
Multiple Permanent Disability Claims FAQs
Can you work again after claiming TPD?
You could return to work after a TPD payout depending on your policy terms and conditions. For example, if a new medical treatment becomes available, that improves your disability you could retrain to do a new job that fits your current work capacity.
Can you have multiple TPD and life insurance policies?
Many Australians don’t know they already have several TPD and life insurance policies in multiple superannuation accounts. This means they can claim against each one when they meet the payout conditions of each policy.
How much is a lump sum payout for TPD?
The value of an Australian TPD payout varies greatly. However, the average payment amount is roughly $500,000 but ranges between $50,000 and $2,000,000. Of course, those with policies through multiple super funds receive much more.
