Everingham Solomons

Helping you is our business

  • Our Firm
  • Our Services
    • Business & Commercial
    • Property law
    • Wills & Estates
    • Family law
    • Employment law
    • Dispute Resolution
    • Court matters
    • Agency services
  • Our People
  • News & Media
  • Careers
    • Current Positions
    • Law Bursary
  • Contact

Superannuation Insurance Policies

August 2, 2014 by Mark Grady

MKG-newAttached to a lot of superannuation funds are insurance policies that will entitle the policyholder to a payment should they become unable to work.

Generally speaking there are either income protection policies or total & permanent disability policies.  An income protection policy entitles a person to an income whilst they are unable to work because of illness or injury.  There is usually a preclusion period and the payment will go for a finite period.

Also attached are total & permanent disability policies which provide for a lump sum to the ill policyholder.  Whether or not you are totally and permanently disabled will depend firstly on the illness and secondly on the definition of ‘total & permanent disability’.  There are two definitions for total & permanent disability policies:

  1. any occupation – if you have been unable to work as a result of illness or injury and are incapacitated to the extent that you will never work in any income earning occupation suited to your educational, training and experience; and
  2. own occupation – if you have been unable to work to such an extent that you are unlikely to engage in your own occupation.

Obviously the definition of ‘own’ as opposed to ‘any’ is a far easier definition to satisfy.  If for example your occupation is a builder and you suffer an arm injury which makes you unable to work as a builder.  It may however be that you can still undertake a sedentary job such as a lawyer, provided you have the education, training and experience and therefore you would fulfil the definition of ‘own occupation’ but not the definition of ‘any occupation’.

So in the above example you would be able to claim under the second definition but would not be able to fulfil the first definition.

To lodge a claim involves completing a great deal of paperwork as well as obtaining medical reports from treating doctors and complicated legal principals.

If we can be of assistance, please do not hesitate to contact us at Everingham Solomons because Helping You is Our Business.

Click here for more information on Mark Grady.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Google+ (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)

Related

Employment

Recent Posts

  • Sir Adrian Solomons Law Bursary Recipient – By Clint Coles
  • The implications of incorrectly spelling your name!! – Suzanne Hindmarsh
  • NSW Introduces Mandatory Interlock Orders for Mid-Range Drink Driving Offences – Megan Jury
  • Landlord and Tenant – What’s the best form of security? – Ken Sorrenson
  • Workers compensation – work capacity decisions – Mark Grady

Categories

  • Uncategorised
  • Farm Succession
  • Business
  • Criminal
  • Employment
  • Family
  • Property
  • Superannuation
  • Wills & Estates
  • Personal Injury
  • Business Law
  • Commercial Litigation
  • General
  • Workers Compensation

Copyright © 2016 Everingham Solomons: Helping you is our business

Conditions of Use

This website is owned and maintained by Everingham Solomons ("Eversol"). By using this site, you agree to the terms, conditions, notices and any other requirements contained within these Conditions. Eversol reserves the right to amend the Conditions at any time without prior notice. Any communication you send over the internet is part of the public domain and may be accessed by any member of the public. It is recommended that no sensitive information is expressed in this way. This site contains links to other internet sites, which are maintained entirely by independent third parties. These sites are not under the control of Eversol and Eversol is not responsible for their contents. You enter them entirely at your own risk. Further, Eversol does not guarantee that access will be available to these sites. Under no circumstances will Eversol or any of its employees be liable for any direct, indirect, consequential, incidental and/or special damages or loss of profits whatsoever. The information provided on this website is not and should not be relied upon in lieu of specific legal advice from a legal practitioner in relation to your own set of circumstances. Neither Eversol nor its related entities or employees accept any liability arising from any person or persons relying on any information contained in or linked from this site.

© Everingham Solomons

Privacy

Everingham Solomons Solicitors is bound by the National Privacy Principles contained in the Privacy Act 1988 (Cth). This Privacy Statement outlines how we handle your personal information.
THE INFORMATION WE COLLECT

We collect information including, but not limited to:

  • Names
  • Addresses
  • Occupations
  • Financial details
  • Identification documentation
  • Other relevant information that enables us to meet our legal obligations and conduct our business
WHY WE COLLECT PERSONAL INFORMATION

To enable us to meet statutory requirements, our legal obligations, conduct our business, and provide and market our services.

ABOUT WHOM WE COLLECT INFORMATION
  • Our clients
  • Potential clients
  • Our clients' employees
  • Our employees and prospective employees
  • Suppliers of other services including, but not limited to, other legal and financial services
  • Persons who we are legally required to record information on.
COLLECTION OF PERSONAL INFORMATION IS OBTAINED FROM
  • Personal consultations
  • Information provided by you
  • Information contained in forms and documents which you may be required to complete
  • Business records
  • Telephone conversations
  • Email messages
  • Information from third parties, such as medical reports and financial records and statements
  • Identification documents provided by you
USE & DISCLOSURE OF PERSONAL INFORMATION

We will use and disclose your personal information only for the purpose of providing our services to you, or for a related purpose including marketing our services.

We will use and disclose your personal information for the purposes of complying with our statutory and legal obligations when providing our services.

We may be required to disclose your personal information to comply with certain legal obligations, or where we are compelled to do so by law.

We may be required to disclose your personal information to ensure your safety, the safety of another person, or to prevent a threat to life.

Generally, the information provided by you is utilised to carry out your instructions and advance your matter.

TO WHOM PERSONAL INFORMATION IS DISCLOSED

Your personal information may be disclosed to:

  • Other companies or individuals who assist us to provide services to you, or perform functions on your behalf, such as other law firms, barristers and related service providers
  • Courts, tribunals and government authorities
  • Any other person or organisation to whom you authorise us to disclose your information. This may include organisations that provide financial or other legal services
STORAGE OF PERSONAL INFORMATION

We will take reasonable steps to ensure that the personal information we collect, hold and disclose is accurate, complete and up-to-date. Your personal information is held in both paper-based files and computer storage facilities. We have taken reasonable measures to ensure this information is secure and to protect your information from misuse, loss, unauthorised access or disclosure.

SENSITIVE INFORMATION

We may be required to obtain sensitive information. We will do so only when it is necessary to provide our services to you. We will use and disclose this information only with your consent, or where we are compelled by law to do so. This sensitive information may include details relating to a person's criminal record, religion, ethnic or racial origin or sexual preference.

GAINING ACCESS TO YOUR PERSONAL INFORMATION

If you wish to have access to your personal information, please email our Privacy Officer Monica Brooks, or call her on (02) 6766 1066.

OUR CONTACT DETAILS

If you wish to discuss this policy, update your information, or make a complaint, please email our Privacy Officer Monica Brooks, or call her on (02) 6766 1066. Write to us at PO Box 524 Tamworth NSW 2340. If you do not wish to receive any of our marketing or other material, please call us on (02) 6766 1066, and we will remove your name from relevant listings.