Deciding whether or not you need a lawyer when lodging a TPD claim through your superannuation fund can be 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 wrote the policy you intend to claim on.
Making your own TPD claim
There is no need to use a lawyer to make a tpd claim and using one will result in you incurring legal costs. But, did you know in the event of a successful outcome the insurer is likely to be ordered to pay your legal costs? So while there is no need to use a lawyer, why would’t you?
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.