The short answer to the title question is yes. However, there are a raft of conditions to wade through before you make any claims. If you hold several insurance policies and separate superannuations, then there’s a good chance you can file and succeed in several Total and Permanent Disability (TPD) Claims.
Just because you can file various TPD claims with the relevant Total Permanent Disability (TPD) Insurance cover doesn’t mean they will all succeed. You aren’t automatically approved just because you have the right to file a claim, so let’s get into the ins and outs of Total Permanent Disability Insurance and filing successful claims.
Understanding TPD Definitions and Eligibility
Total Permanent Disability in super or private policies provides you with cover if you experience an injury or disability severe enough to prevent you from working. Going through a life-changing event can take an emotional toll, and having a financial safety net to fall back on can provide you the space you need to process the changes in your life.
You must understand the definitions as outlined in your policy, whether you have TPD Insurance in super or three policies that provide TPD Insurance. These definitions will vary from policy to policy and will determine the criteria for eligibility.
Key Factors for Successful Multiple TPD Insurance Claims
Meeting TPD Definitions Across Policies
Every TPD policy will have eligibility criteria that you must meet before you can file a successful claim. Whether you have one policy or seven, you will need to meet the individual eligibility criteria for each. They are likely to vary, usually around the severity of a disability or in terms of your profession. For example, some may only provide cover if you cannot work any job, while others are specific to your chosen profession.
Independence of Each Policy
Policies operate independently of each other, though some companies are now adding caveats about filing claims with other policies. Regardless, if you are eligible to file multiple claims, the company or superannuation fund will assess your claim based on their criteria and definitions. So, you could find yourself successful with some claims and unsuccessful with others.
Evidence for Each Claim
You need to provide supporting evidence for each TPD claim you file and your evidence should demonstrate how your injury or disability meets the criteria within that specific policy. This needs to be done for each policy and every claim should be specific to that policy.
Transparency and Disclosure
Working with a lawyer is an important part of the process because they can ensure you follow all the rules and guidelines every step of the way. When you apply for a benefit of any type from a new source, you need to disclose existing TPD insurance coverage. Failure to do this could jeopardise the claims process.
Benefits of Multiple TPD Claims
Maximising Financial Security
If you have gone through a life-changing disability, financial security is likely at the forefront of your mind. You may need to adapt your home and pay for rehabilitation, and ongoing medical care, but you also have to think about ongoing living expenses, from food to bills.
Filing multiple TPD claims can maximise your financial security and replace lost income to provide you with the support you need.
Peace of Mind
Dealing with the changes to your life that disability often brings can be stressful. It takes to grow accustomed to a new way of life, and there is a psychological benefit to knowing you have financial support.
Life can change in an instant, and ensuring you hold TPD insurance can provide you with peace of mind right now.
Considerations and Cautions
Complexity of Multiple Claims
There’s no way around it – filing multiple TPD claims is complex and it’s time-consuming. Not only do you have to ensure you meet the eligibility criteria for each policy individually, but you also need to compile the relevant evidence to support each individual claim. It
Seeking Professional Help
A lawyer who specialises in TPD claims can help you navigate the process. A lawyer will help you understand the details of each of your different policies, determine which of them you are eligible to file a claim with and navigate the process for you. It isn’t just about having someone to do the heavy lifting, they will also ensure you don’t file a claim that could invalidate your other options. There is always fine print and your lawyer will ensure you make the right moves to maximise your compensation.
Alternatives to Multiple Claims
Claim Review
If you previously filed a TPD claim and you believe you were unfairly rejected, you can speak to a specialist lawyer about what next steps you take. It’s possible to appeal a rejection and you may find success with the help of a legal professional.
Income Protection Insurance
Life can change in an instant, and the benefit of TPD insurance is that most people have a policy in super to cover them in the event they develop a disability, whether it’s through illness or injury. You can instead opt for Income Protection Insurance, however, which means you don’t need to worry about meeting a specific TPD definition. This policy provides you with ongoing financial support in the event of disability.
Final Thoughts
If you have TPD insurance from multiple sources, you’re in a good position to file multiple claims. The key to ensuring success with those claims is to only file claims if you meet the relevant eligibility criteria. You also need to ensure you are compiling as much evidence as possible, specific to the policy you’re making a claim against.
In all cases, you should reach out to a legal professional for advice. AJB Stevens specialises in TPD insurance claims and can help you navigate the process, allowing you to take control of your financial security despite the uncertainty in your life. We can provide you with the support and advice you need to maximise your compensation outcomes.
