Who can claim the terminal illness benefit from superannuation?
Australians who’ve been diagnosed with a terminal illness may qualify to claim their superannuation early as well as their terminal illness benefit.
Generally it requires certification from two doctors that agree your condition is terminal. If your doctors agree that despite reasonable treatment, your life expectancy is less that two years, it’s time to claim your superannuation benefits.
Each super policy can be different, so it’s important to check the particulars of your specific policy.
Why should i claim the terminal benefit?
Most Australians earned superannuation while they worked. Terminal benefits coverage was part of your compensation for working. Accessing your terminal benefit on top of the early release of your super balance can help fund additional care and be used to improve quality of life.
How do I know if my super had terminal illness coverage?
If you have a copy of your super policy, you can look through it to find details about terminal illness coverage and benefits. Generally people who have death benefits and Total & Permanent Disablement cover also have terminal coverage.
Why don’t I get the terminal illness benefit automatically?
The insurance companies require you to prove your terminal health condition in order to receive your benefit. The medical certificates, paperwork and documentation must satisfy their requirements in order for you to receive your entitlements. The whole process is called a superannuation claim when the insurance was earned as part of your super policy.
Are there other superannuation claims I should know about?
Aside from terminal coverage, it’s important to know about total and permanent disablement insurance, income protection and life cover (death benefits) that are available through superannuation claims.
My health is really poor, can i get help with my claim?
It’s common for people with terminal health conditions to need help claiming superannuation. Book a free chat with a new claims specialist to talk through your situation.