INCOME PROTECTION CLAIMS
If you cannot work due to partial or total disability, Income Protection Insurance will continue to pay you a percentage of your pre-tax income for a specified time. Typically, you will get up to 75% of your salary for the term of the policy (usually 2 to 5 years) until you are well enough to return to work or until you reach retirement age – whichever comes first. Your Income Protection policy may also keep up with superannuation contributions while you are off work.
It is important to remember that each Income Protection policy has its definition of partial or total disability. The Carbone Lawyers team includes expert income protection insurance lawyers who will be able to advise you on your eligibility.
Like TPD claims, your injury or illness does not need to be work-related. The success of your claim depends on whether the injury or illness makes you incapable of doing your usual type of work, not how you acquired it.
In most circumstances, you can receive income protection payments and any other benefits from compensation bodies such as WorkCover and TAC. For example, if you’ve been injured in a car accident and can’t work, you may be able to receive TAC compensation and an Income Protection benefit.
Making an Income Protection Claim
Most Income Protection policies have a waiting period of 30 to 90 days before you can make a claim.
Once you’ve lodged a claim with the Superannuation fund or insurer, it will usually be processed in 1 to 3 months.
You will be required to prepare several documents and gather evidence to support your claim, including a report from your treating medical practitioners. In some circumstances, you may need to undergo a medical examination by a doctor nominated by the insurance company. Dealing with insurance companies can be stressful, especially if you’re undergoing treatment for a medical condition. Our team’s experienced Income Protection lawyers can remove the stress and handle the process for you.
Have you had an IP claim declined?
If you have had an Income Protection claim rejected, it’s probably because you haven’t understood the conditions of the policy or failed to provide the proper documents. The team at Carbone Lawyers can review your claim and advise you on your legal options.
Trauma Insurance
Some people choose to take out Trauma or Critical Illness Insurance to provide extra financial security for families or cover financial obligations.
Trauma Insurance covers specific injuries such as head trauma, loss of a limb, loss of hearing or blindness. Or specific illnesses, including heart conditions, neurological disorders, organ failure or transplants, blood diseases, and most types of cancers like melanoma, malignant tumours, leukaemia, and prostate or breast cancer.
Benefits are typically paid as a lump sum to help pay for medical treatment and rehabilitation or to allow you to reduce your work hours so you can focus on your recovery.
Each Trauma Insurance policy has different definitions, terms, and conditions, which an experienced trauma insurance lawyer can help you navigate to ensure a successful outcome.