How Death Or Total And Permanent Disability Insurance Works In A Superannuation Fund?

Are you considering making a Superannuation Claim or TPD Insurance Claim? Most people only make one of these claims in their lifetime, so it is likely you have some questions, or would like to understand how it works.

If you think you may have a claim, Aussie Injury Lawyers can give you a Free legal assessment and give you an estimate of what your claim may be worth. We can also let you know if you have the opportunity to make more than one claim.

Today I wanted to speak to you a little about TPD Claims. A TPD claim stands for Total and Permanent Disability or Total and Permanent Disablement. It’s the insurance you have in your Super. So, when you see your member statement come back from your Superannuation fund you’ll

The first figure will relate to what’s called your member balance. That’s the amount of money that’s been invested on your behalf through the payments made by your employer, and that’s your long term savings for your retirement.

You’ll also notice, on your member statement a number of other figures that relate to insurance. Typically, you’ll have death cover, and that’ll be for a certain amount. You also have one called TPD which is Total and Permanent Disability cover. That’ll be for a separate amount. Sometimes you’ll also have income protection.