Income Protection Claims
If you are unable to work because of injury or illness, you may be entitled to income protection insurance benefits through:
- Income protection insurance you hold
- Your bank mortgage
- Under your policy of superannuation
- Your employer may hold a separate income protection policy on your behalf.
All income protection policies are different and the terms and conditions vary between each one. It can be difficult to understand what you are entitled to receive as the fine print can make no sense. If you believe you have a claim for income protection, you should seek legal advice as soon as possible.
Income protection insurance can provide ongoing wage payments when you can no longer work due to injury or illness. How long you receive income protection depends on the policy and can range from 2 years up to retirement.
Making an income protection claim
Lodging an income protection claim can be a complicated process, have many delays and the insurer is always looking for ways to decline your claim.
You can choose to make a claim yourself however many people chose to make an income protection claim with the assistance of an expert lawyer who knows the ins and outs of the system and is able to deal with the insurance company on your behalf.
What benefit do I get from income protection insurance?
Usually income protection insurance pays your weekly wage up to about 75% of your pre-injury or illness salary. It does vary depending on your policy.
How long can you receive this benefit for?
There are also restrictions on how long you can receive such benefits for, age limit restrictions and if you can receive payments if you have resigned or been terminated from your employment. Each policy is different so you need to obtain a copy of the income protection policy from the insurer to determine what your benefits may be.
Can I receive workers compensation and still receive income protection?
Usually yes, you can receive both payments however usually there is a clause in the insurance income protection cover that reduces or offsets the amount of workers compensation you are receiving.
What happens if my insurer refuses to pay my claim?
It is common for insurers to refuse to pay an income protection claim. The insurer will find any way possible to decline a claim either by relying upon the fine print in the insurance policy or by finding a doctor who says that you are unfit for work despite your injury or illness.
Income protection claims are also regularly declined based on non-disclosure of important factors. If an insurer believes that you fail to disclose a relevant factor which in their mind would have prevented them from offering you insurance in the first place they can decline your claim.
We have found that insurers tend to decline claims when they are valid and we can challenge those decisions and obtain the income protection for our clients.
What legal costs are payable?
In most income protection claims, we provide a “No win – No fee” costs agreement which means you do not have to pay our legal fees until and unless you are successful in obtaining compensation for your claim.