Need help with your superannuation claim?
At Main Lawyers, we have you covered if you need to make a superannuation claim, access your super early or to claim life insurance through your super.
Our law firm is based in Coolangatta and we service the greater Gold Coast region alongside other areas in Brisbane, Logan, Tweed Heads and Northern NSW as well.
Superannuation Claims & Early Access to Super
In most cases, you won’t be able to access your superannuation until you reach your preservation age. Depending on your date of birth, this age can range between 55 and 70.
If you’re looking for a way to access your super early, there are a number of conditions that need to be met, including:
- Retirement
- Aged from 60 years to 64 years and cease employment
- Reach the age of 65
- Decision to start a transition-to-retirement pension (TRIP)
- Preserved amount is less than $200
- Cease employment and have certain pre-1999 super benefits
- Severe financial hardship
- Compassionate grounds
- Terminal medical condition
- Temporary resident leaves Australia permanently
- Permanent disability or permanent incapacity
- Temporary incapacity
- Death
- Decision to take your benefit as a lifetime pension or annuity
Early Superannuation Access & Financial Hardship
Severe financial hardship is a ground of early release of super of which you can make a claim.
You may be given early access to a portion of your balance to meet immediate reasonable expenses. Early access is subject to certain conditions and can only be offered in one payment of no more than $10,000 (including tax) in any 12 month period.
In general terms, here are the rules:
- You have been receiving Commonwealth Government income support, for example, unemployment benefits, for at least 26 weeks, continuously, and the trustee of your super fund is satisfied that you can’t meet immediate reasonable family expenses.
- Or, if you’ve reached your preservation age (from age 55 to 65, depending on your date of birth), you may be able to receive your entire super amount if you’ve been in receipt of government income support for at least 39 weeks.
If you need to make an application for Severe Financial Hardship you can contact your super fund directly and request the forms you’ll need to fill.
Keep in mind that withdrawing superannuation for Severe Financial Hardship usually affects your tax amount and you may also need to pay extra fees.
Early Super Access on Compassionate Grounds
Compassionate grounds includes the following:
- Contributing to your mortgage to stop the bank selling your home.
- To pay for medical treatment, or travel to treatment.
- To modify your home or car following injury or disability.
- Palliative care for you or a dependant.
- Funeral costs for a dependant.
The application usually goes through to the Department of Human Services.
Keep in mind that withdrawing superannuation for compassionate grounds usually affects your tax amount and you may also need to pay extra fees.
Making a TPD & Superannuation Claim
If you make an application for a TPD benefit, and it’s approved, you can then apply separately to withdraw some (or all) of your account balance in your super fund on the grounds of Permanent Incapacity.
Things can get a bit tricky as each super fund arranges life insurance differently and they offer different policies as well. You may still be able to make a successful claim even if your first attempt was rejected.
To get the compensation you deserve, it’s always best to seek expert legal and financial advice. Our TPD lawyers Gold Coast can help you make a claim from your superannuation.
Also, keep in mind that withdrawing superannuation for Permanent Incapacity usually affects your tax amount and you may also need to pay extra fees.
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Contact Us
Call us on 1800 314 761 or enquire online to book in a free consultation with our principal lawyer to learn more about your rights.
2
Free Initial Consultation
Consult with our principal solicitor about your situation and receive a FREE assessment of your case, within 24 hours.
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Make Informed Decisions
Once you have all the information on your rights & legal options you can then make an informed decision as to how to proceed.
Claim Superannuation with the help from our Superannuation Claims Lawyer Gold Coast
Reach out to us even if your super claim has been rejected.
Self-Managed Super Funds & Life Insurance
There are some great advantages to running a Self-Managed Superannuation Fund (SMSF) including the flexibility it offers over your investments. When setting up an SMSF, one of the things you’ll need to consider is whether you’ll be holding insurance through the fund.
Super funds can hold many different types of insurance including:
- Life Insurance
- Total and Permanent Disablement (TPD) Insurance
- Income Protection Insurance
- Trauma Insurance
Our expert superannuation insurance lawyers can explain the issues you’ll need to consider when holding insurance through your SMSF and how to set it all up correctly. Some considerations include the deductibility of premiums as well as considerations for Estate planning.
Do you have a life insurance or superannuation claim?
Our expert superannuation claims lawyer Gold Coast can help you claim what you’re entitled to. We have a high success rate even on claims that may have been rejected. If you think you have a valid superannuation or life insurance claim, book in a free initial consultation with our team today!
You can visit our office in Coolangatta or have our Principal lawyer come to you anywhere in the Gold Coast, Tweed Heads or most areas in Northern NSW.
Disclaimer: This information is designed for general information in relation to Queensland and/or New South Wales compensation law and is current at time of publication. It does not constitute legal advice and should not be used as such. We strongly recommend you seek legal advice in regards to your specific situation. For expert advice call 1800 314 761 for a free discussion of your matter with one of our experienced lawyers.
Superannuation and Life Insurance FAQ
How do I know if I have life insurance through my Super Fund?
We can run a search to find out which (if any) super fund you’re with and reach out to them on your behalf. If you know which fund you’re with, you can also contact them directly and find out if you had insurance with them at the date of the incident.
We can also help you identify how many potential claims you may have and assess your prospects for succeeding in these claims once we know your level of cover.Male hand putting a coin into piggy bank
Can I make a TPD, Life Insurance or Superannuation Claim on a no win, no fee basis?
At Main Lawyers, we offer a free initial consultation to assess your prospects of succeeding in your superannuation, life insurance or TPD matter. If we advise you that we consider your proposed claim has reasonable chances of succeeding and is economically viable to proceed, we will agree to take your case on a no win, no fee basis.
You only pay our fees if we help you win or achieve a successful outcome.
How long will a TPD, IP, Death or Trauma claim take?
We’ve written an in-depth article explaining time frames here.
If you’d like an estimate specific to your situation, book a free consultation with our expert superannuation, life insurance and TPD lawyers Gold Coast today.
Do I really need a lawyer to pursue my IP, Death, Trauma or TPD claim?
The law is complex when it comes to personal injury and insurance matters, especially when you’re going up against insurance and superannuation companies with large budgets.
As expert life insurance & TPD claim lawyers, we handle (and win) cases against large companies frequently and we’re confident we can do the same for you.
If your claim has already been denied, we may still be able to help as we have so many others. Seeking professional legal advice early can make all the difference when it comes to getting your life back on track.
Our superannuation solicitors can help know your rights when it comes to claiming your super.
Are you looking for the correct information & advice on your superannuation claim? Even if your super claim has been rejected Our team can provide you with the information you need to make in an informed decision on your rights.
Get in touch with us or book your No-win No-fee consultation today.
