When a loved one passes away or is diagnosed with a terminal illness it can place huge emotional and financial stress on those close to them. Insurance death benefits can help provide for the loved ones of the deceased at a difficult time.

If you’re a member of an active superannuation fund you are likely to automatically hold life insurance through your membership.

When an insured person passes away, the life insurance held through a super fund is usually paid by the insurer into the deceased’s super account and the whole balance is then distributed by the fund trustees.

If there is a valid binding death benefit nomination in place, the fund trustee must pay the benefit accordingly.

Otherwise, the fund trustees have a discretion to decide how its paid with a focus on supporting the deceased’s financial dependents. That is, the person or people who looked to the deceased for future financial support. That is often the deceased’s spouse or minor children.

You may also have life insurance through private policies or through your employer. These benefits are usually paid to a nominated beneficiary, the deceased’s Personal Legal Representative or policy owner (if it’s not owned solely by the deceased).

And remember, claiming on life insurance policies can get tricky, especially when you consider that terms and conditions vary between insurers, so it’s important to make sure you are familiar with all fine print.

If you or someone in your family needs to claim death benefits, reach out to your closest Taxcellent Consulting Services office today. Taxcellent Consulting Services life insurance lawyers are experts at working out the fine print in life insurance policies and they will fight to obtain every last entitlement you and your family deserve.

In short, yes. If you have been diagnosed with a terminal illness and you hold a life insurance policy in your name you can absolutely make a life insurance claim.

You can make a claim for the tax-free early release of a superannuation death benefit if you are suffering from a terminal illness. That is a medical condition that two medical practitioners certify you are unlikely to survive more than 24 months.

Our team of life insurance lawyers understand that your life insurance claim may be the most difficult claim you have to deal with. While getting you the best possible result is our priority, we will also ensure that you feel supported, respected and have peace of mind that your claim is in the most capable hands so that you can focus on feeling better.

If the insurer declines the claim for terminal illness or a death benefit, you can challenge that decision. We often see terminal illness claims declined on medical grounds or death benefit claim declined because of technical policy fine print.

The amount of payout you or your dependents receive will depend on your policy and may also be a cause of dispute. Deciphering exactly how much you’re entitled to can be tricky, but Taxcellent Consulting Services experienced team of insurance lawyers can help you get to the bottom of how much you are owed and then make sure you receive every last cent.

If the super fund trustees decide to pay the benefit in a way that you are not satisfied with, you can challenge it by lodging a complaint. These disputes are often determined by the Australian Financial Complaints Authority and can make it all the way to court. There are strict time limits for lodging complaint so its important to get advice as early as possible if your claim is contested.

When you are in the middle of an emotionally draining time, the last thing you need is to be dealing with a life insurance company who is doing their best not to pay you. Taxcellent Consulting Services life insurance lawyers are ready and willing to help you successfully lodge your life insurance claim. Our team has over 100 years of experience in Australia and we are prepared to take on the burden of:

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