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You may be entitled to make a claim under your superannuation in circumstances where you are unable to return to work as a result of an injury or illness. It is not a claim made on the superannuation contributions made by your employer or, if you contribute voluntarily, to those contributions, but a claim on the insurances that many superannuation policies have built in to them.
There are usually up to three insurances that can be contained within a superannuation policy. They include:
A) Total and Permanent Disability
The total and permanent disability (TPD) claim is the most common claim available under a superannuation policy. Most policies will contain a TPD claim. It is available to be claimed subject to you satisfying the definitions contained within the policy. Each policy will vary in its definition as to capacity for work, what constitutes an injury or disease and whether the policy will apply to a particular circumstance.
B) Death Benefit
A death benefit is payable when a person deceases. The lump sum is usually payable regardless of the reason for death. You will however have to ensure you check the policy and the statement to ensure that is correct.
C) Income Protection
Most policies arranged by employers will not include income protection however if your superannuation policy does include income protection then you may be able to claim provided you satisfy the policy definitions. The policy will also identify what is payable on a weekly basis.
For further information regarding a TPD claim contact ISN.