Terminal Illness insurance is an insurance benefit that is often available under a superannuation membership. It is an insurance, similar to Income Protection, Total and Permanent Disability, and Death insurance, which you pay premiums to hold, from your superannuation account.

Terminal Illness insurance is there to help you when you have been diagnosed with an illness that will likely result in your death. Typically, the cover is a part of your Death insurance and is designed to assist you financially through the difficult time. It is paid as a lump sum and will vary depending on the cover you hold and the terms of the relevant policy.

Similar to a Total and Permanent Disability claim, having a successful claim means you will have met a condition of release for your super. This means you will be able to access the insurance benefit and your superannuation account balance, even if you are not yet at the retirement age specified in your policy.

If you choose to retain the benefit sum in your superannuation account, your beneficiaries will be able to access this as a Death Benefit, upon your passing.

How do I know if I have Terminal Illness Cover?

At Evolve Legal, we can undertake a cost and obligation free claims check which allows clients to have their insurance investigated, and to receive free advice about the prospects of successfully making a claim. As part of this enquiry process, our helpful team will request entitlements on your behalf, to find out which superannuation funds you hold cover with, how much your potential insurance benefit is, and review the particular policy of insurance so that we can advise you on your eligibility to make a claim.

How do I know if I am eligible to receive a Terminal Illness benefit?

If you hold Terminal Illness cover, there are generally a few conditions of your policy that you are required to meet, in order for your claim to be successful. Each insurance policy can vary, so we are here to help you determine if you are eligible and what must be established in order for your claim to be approved.

Typically, you need to provide evidence from two treating doctors certifying that your life expectancy is less than a nominated period of time. It is important to note that:

  • One of those doctors must typically be a specialist in a relevant medical field; and
  • The period can vary, but it is common for it to be less than 12 months or less than 24 months.

Notably, if you have held a superannuation account with more than one fund, it may be possible to make multiple claims.

Why engage a law firm?

Gathering supportive evidence, lodging your claim, and liaising with the insurer for a Terminal Illness claim can be stressful, and insurance policies can be more complicated than you may think, as they vary from insurer to insurer.

Being assisted and supported by a lawyer means we can assess your eligibility, determine the evidence required, request supportive evidence as soon as possible that addresses the terms of your policy, and make legal submissions in support of your claim – to ensure it has the best chance of success from the outset. We utilise our extensive experience in these claims to manage any hurdles at the outset, and most importantly, take the stress away from you, so that you can focus on taking care of yourself and your wellbeing.

In short, having a lawyer on your side improves the prospects of you receiving the benefit – and in the shortest timeframe possible.

Due to the circumstances, it is important that we act promptly in prosecuting your claim and ensure that the same urgency is applied by the insurer and the trustee when they assess the claim.

While we are always just a phone call away, you can be assured that we will always be there to provide you with timely updates on your claim as they occur.

Evolve Legal – How We Can Help You

Navigating a Terminal Illness claim on your own can be very overwhelming. At Evolve Legal, our team is here to assist you and alleviate the stress of your claim, allowing you to focus on your health and wellbeing. We will assess your eligibility, gather the necessary evidence, and handle the complexities of your policy to give your claim the best chance of success. For expert guidance and support, please do not hesitate to contact us on 1300 633 805 or email us at [email protected] to book a free, no-obligation initial consultation with one of our experienced lawyers.

Posted in: Personal Injury

February 13 2025