MSWA Bulletin Magazine Spring

YOUR SUPERANNUATION
INSURANCE BENEFITS –
KNOW YOUR RIGHTS
Disability insurance is not typically at the forefront of the
minds of many Australians, with many of us severely underinsured
and unaware of insurance benefits attached to
superannuation memberships.
People living with multiple sclerosis and other neurological
conditions can find it difficult to access any type of financial
benefit or support after ceasing work due to their condition.
This is particularly so when a person’s reason for stopping
work is not covered by a statutory compensation scheme,
such as WorkCover or the Insurance Commission of WA.
In these circumstances, people can often access the benefits
of disability insurance policies through their superannuation
membership. In investigations conducted by our office, we have
successfully claimed insurance benefits for our clients even if
they stopped work several years ago due to illness or injury.
There are two common types of disability insurance offered
by super funds:
• Income protection (IP) generally provides monthly payments
of 75-85% of your previous earnings (capped at a specified
amount) when you can’t work for a period of 2 years, 5
years or sometimes even up to the age 67;
• Total and Permanent Disability (TPD) insurance benefits are
generally lump sums you can claim if you cannot return to
any work in which you are educated, trained or experienced
as a result of injury or illness.
Please note:
• Even if you stopped work many years ago, you can still
make a claim. A claim can be made even if your insurance
cover ceased between the time you stopped work and now,
as long as you were a member of the super fund at the date
you last actively worked.
• Most Australians have more than one super fund meaning
you may have multiple TPD insurances, and may be able to
pursue multiple lump sum claims. You should seek advice
about the implications of consolidating super accounts as
you may be putting at risk potential insurance benefits.
• If you are thinking about stopping work or reducing your
work hours due to your medical condition it is important
to get advice regarding the implications for your insurance
coverage; there may be clauses in the fine print of your
policy that will impact on your rights to claim later.
You may have similar disability insurance through your
employment contract or EBA or through your financial
institution. It is always worth getting advice to make a claim
in order to avoid any nasty surprises.
Our experienced team of paralegals and lawyers will provide
a ‘free check’ to ensure you have the cover. Once this is
confirmed, our local Perth team will meet you, and provide
expert legal guidance through the complexity of lodging claim
forms and necessary evidence. They will also manage the
legal issues that may arise during the claims process.
It is never too late to check. If you have ceased working due
to your MS or other neurological condition then contact
Maurice Blackburn on 1800 196 050 for free advice on
any superannuation or insurance questions, to check your
potential cover for benefits, or help with an existing claim.
www.mauriceblackburn.com.au/legal-services/
superannuation-and-insurance/
MSWA MAURICE BLACKBURN
EMPLOYMENT FORUM
SARAH LORRIMAR
Joshua Boyes, Lawyer at Maurice Blackburn,
made a welcome return to MSWA to present more
information forums, at both the Wilson Centre and
our Bunbury Hub.
These seminars were targeted towards
Members currently working or who have stopped
working due to their MS and aimed to increase
Members’ understanding of their legal rights
surrounding employment.
Joshua offered his time free of charge to provide
our Members, Clients and their families, valuable
information on issues such as disclosure in the
workplace, stopping and starting work, travel
insurance and disability claims. He also covered the
topic of superannuation benefits; specifically, the
claiming of a disability lump sum or pension under a
superannuation fund.
As always, this visit from Maurice Blackburn was
another great success. Since the last presentation
in November 2016 there has been an ongoing stream
of calls to Joshua right up until last month!
It is important to keep informed of your rights
as well as the advice and services available to
you. For further legal information, you may
contact Joshua Boyes on 6424 4207 or email
JBoyes@mauriceblackburn.com.au
MSWA BULLETIN SPRING 2017 | 17