Post-Claim Superannuation Management

Navigating Your Superannuation Account After a Terminal Illness Claim

Post a terminal illness claim, it's important to understand the impact on your superannuation account. Claimsplus Lawyers provides a detailed guide to help you navigate this situation and make informed decisions about your financial future.

Key Insights into Superannuation Accounts After a Terminal Illness Claim:

• Effect on Account Balance: The amount claimed for a terminal illness will be deducted from your superannuation account balance. In cases where the entire balance is claimed, this could result in the account being depleted.
• Ongoing Contributions: Should you continue to be employed or receive contributions (e.g., from an employer or personal contributions), these will still accrue in your superannuation account post-claim.
• Insurance Coverage Considerations: Filing a terminal illness claim may affect the insurance attached to your superannuation account, depending on the terms of your specific fund. It's crucial to review and understand any changes in your insurance coverage.

Considerations for Your Superannuation Account:

• Maintaining Account Fees: Be mindful that standard fees associated with your superannuation account may still apply after a claim. Regularly review your account statements to stay informed of any ongoing charges.
• Account Closure Scenarios: If the balance of your superannuation account falls to zero and no further contributions are made within a certain timeframe, your fund may close the account.
• Impact on Future Claims: It's important to understand how making a terminal illness claim may affect your eligibility for other types of claims, such as Total and Permanent Disability (TPD) claims, under your superannuation fund’s policies.

Expert Guidance from Claimsplus Lawyers:

Understanding the implications for your superannuation account following a terminal illness claim can be complex. Claimsplus Lawyers is here to provide expert guidance and support through this process. Our team, proficient in superannuation matters, is prepared to offer clear advice and help you understand the potential consequences on your account. If you have questions about your superannuation account post-terminal illness claim, or need assistance with understanding the broader financial impact, Claimsplus Lawyers is ready to assist.

Reach Out to Claimsplus Lawyers for Specialised Support:

For any inquiries or specialized assistance regarding your superannuation account following a terminal illness claim, please contact Claimsplus Lawyers. Our team is dedicated to helping you manage and understand the changes to your superannuation account, ensuring you navigate your financial future with confidence and clarity. 

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