Deciding whether or not you need a lawyer when lodging a TPD claim through your superannuation fund can be a tough decision. In this article we are going to cover some of the pros and cons of doing it yourself and with legal assistance.
What does making a claim involve?
Making a claim is often made out to be really simple and straightforward. All you need to do is notify your super fund, tell them you intend to make a claim, fill out some paperwork and get assigned your own “dedicated claims consultant,” who will help you every step of the way. Sounds easy right? Wrong! What you need to remember is that insurance companies have industry-leading, in house legal teams at their disposal who have often written the policy you intend to claim on.
Making your own TPD claim
Firstly, there is no legal requirement to use a lawyer to make a TPD claim. In fact, using one will result in you incurring legal costs. But, did you know in the event of a successful court outcome the insurer is likely to be ordered to pay your costs? So while there is no need to use a lawyer, why wouldn’t you?
Claims are often rejected
Out of all types of insurance claims, TPD claims are by far some of the most rejected, especially when made by claimants without legal representation. Most people who have claims rejected then need to instruct a lawyer to appeal the decision which often involves more work than just hiring one from the start.
Our view on DIY claims is only attempt to lodge your own if you have extensive knowledge in superannuation and insurance law. Remember, nobody likes parting with money, especially insurance companies. If something sounds too good to be true it usually is.
If you feel confident or would just rather DIY please read the terms and conditions carefully along with any small print detailed in your policy. Make sure you fully understand your rights and responsibilities and what supporting evidence is needed from you before you lodge.
Legally assisted claims
Filing your claim with legal assistance will ensure you don’t make any costly mistakes while interpreting your insurance policy. It will also send a strong message to the insurer that you’re not just testing the water. Insurance companies have a reputation for dragging their feet through all aspects of the claims process, however, having a solicitor in your corner tends to speed up the process tenfold.
Did you know we handle all matters via no win no pay? This means if your case is not successful the legal fees get waived.
Achieving a maximum payout is not easy, especially when the monetary value is predetermined. For example, the average TPD policy may insure the policyholder for $250,000. It is not uncommon that claimants representing themselves receive the full payout. Though in most of these cases the claimant has suffered catastrophic injuries. Every day we speak to people who have already embarked on their claims journey without any legal assistance who are in desperate need of help. Whether it be through making a fundamental mistake during the assessment and lodgement of their claim or because they have been made an offer they see unfit things never seem to go to plan.
To ensure the best chances of achieving a maximum payout in minimal time it may be wise to get a lawyer from the get-go.
Find out how much a lawyer charges for assisting with claims.