Offering our tips and assistance for TPD Claims
If you have stopped work due to injury or illness, and are unable to return to work within your resume, then you may be eligible to make a TPD claim. If you are in this situation, read our tips and FAQs to see how we can help.
Our Tips
Understand the TPD Claims Definition
There are many types of definitions depending on circumstances and your superannuation fund, but most people are assessed under this criteria:
- Ceased work because of injury or illness;
- Have not been able to work for either 3 or 6 consecutive months; and
- To prove with medical evidence, that you are unlikely ever to return to work that you are reasonably suited to within your education, training or experience.
You can request the policy document from your superannuation fund or see my video here.
Minimum Evidence Required for TPD Claims
You must provide the insurer and your superannuation fund with evidence, such as the initial claim form, Certified ID, a signed authority, and 2 medical reports from your treating doctors, that supports that you can no longer work in an occupation for which you are reasonably suited by way of education, training or experience due total permanent injury or illness. In other words, your resume.
The medical evidence should show that you are totally permanently disabled from returning back to work.
The 2 medical reports are very important, they need to confirm you are totally permanently disabled from returning back to work.
You will need to review these once received to make sure all the right boxes are ticked, and is supportive. If the reports do not support TPD, then give us a call on 1800 865 225 to discuss.
Further Evidence You May Be Required to Provide For Your TPD Claim
Often a lot more information is requested including but not limited to:
- Clinical notes from all your treating doctors;
- Your statutory benefits claim file if you were on Workcover or receiving benefits under a CTP scheme;
- Information from your employer in the form of employer statement;
- If self-employed, your BAS, business tax returns, and payslips;
- ATO Records;
- Medicare Records; and
- Centrelink Records.
Understanding Tax on TPD Claims
If you do not meet preservation age, then you will more than likely pay tax on your withdrawal of super.
Superannuation funds have a complex formula when it comes to tax on the withdrawal of your TPD benefit and account balance.
WKB TPD Lawyers has partnerships with specialised Financial Planners who will provide you with a free consultation, to discuss your tax, Centrelink and/or NDIS options, when withdrawing your TPD lump sum benefit and account balance.
See the Director of WKB talk about why its important to seek financial advice
How long do TPD claims take
Once the TPD claim is lodged, it can take 6 to 24 months before the claim has been resolved.
WKB Lawyers, have a proven track record to reduce the time frames on your assessment time.
Our Tips
Understand the TPD Claims Definition
There are many types of definitions depending on circumstances and your superannuation fund, but most people are assessed under this criteria:
- Ceased work because of injury or illness;
- Have not been able to work for either 3 or 6 consecutive months; and
- To prove with medical evidence, that you are unlikely ever to return to work that you are reasonably suited to within your education, training or experience.
You can request the policy document from your superannuation fund or see my video here.
Minimum Evidence Required for TPD Claims
You must provide the insurer and your superannuation fund with evidence, such as the initial claim form, Certified ID, a signed authority, and 2 medical reports from your treating doctors, that supports that you can no longer work in an occupation for which you are reasonably suited by way of education, training or experience due total permanent injury or illness. In other words, your resume.
The medical evidence should show that you are totally permanently disabled from returning back to work.
The 2 medical reports are very important, they need to confirm you are totally permanently disabled from returning back to work.
You will need to review these once received to make sure all the right boxes are ticked, and is supportive. If the reports do not support TPD, then give us a call on 1800 865 225 to discuss.
Further Evidence You May Be Required to Provide For Your TPD Claim
Often a lot more information is requested including but not limited to:
- Clinical notes from all your treating doctors;
- Your statutory benefits claim file if you were on Workcover or receiving benefits under a CTP scheme;
- Information from your employer in the form of employer statement;
- If self-employed, your BAS, business tax returns, and payslips;
- ATO Records;
- Medicare Records; and
- Centrelink Records.
Understanding Tax on TPD Claims
If you do not meet preservation age, then you will more than likely pay tax on your withdrawal of super.
Superannuation funds have a complex formula when it comes to tax on the withdrawal of your TPD benefit and account balance.
WKB TPD Lawyers has partnerships with specialised Financial Planners who will provide you with a free consultation, to discuss your tax options when withdrawing your TPD lump sum benefit and account balance.
Not only that, but our financial advisor provides advice on Centrelink and NDIS and withdrawal option, for instance an Income Stream.
See the Director of WKB, Warren Bennett, talk about why it’s important to seek financial advice after a successful TPD claim.
How long do TPD claims take
Once the TPD claim is lodged, it can take 6 to 24 months before the claim has been resolved.
WKB Lawyers, have a proven track record to reduce the time frames on your assessment time.
FAQ's
Contact WKB TPD Lawyers for your free consultation to see if you qualify and get your TPD claim settled today
WKB TPD Lawyers act on a No Win, No Fee guarantee and specialises in TPD claims, meaning we have the knowledge, experience and expertise that other firms don’t have.