Income Protection, Death and Total Permanent Disability (TPD)
Issues covered include: Insurance Contracts Act, non-disclosure, superannuation disability claims, Centrelink, tax and superannuation implications
Description
Income protection, death and Total and Permanent Disability (TPD) insurances are commonplace cover for many Australians today with TPD being offered at no charge under many superannuation funds. Thus, injured clients may in fact be eligible for compensation under one of these policies in certain circumstances. This seminar will provide you with practical information to provide an understanding of this important area.
Attend and earn 4 CPD units including:
3 units in Substantive Law
1 unit in Professional Skills
This seminar was recorded in NSW on 28 March 2019
Chair: Valerie Heath, Barrister, Maurice Byers Chambers
9.00am to 10.00am: Income Protection, Death and TPD Policies and Claims Overview
- Life insurance: understanding its complexities
- Traps in interpreting these policies
- Options to pursue a claim if it is declined (internal dispute resolution, the Australian Financial Complaints Authority, the District Court or the Supreme Court)
- Some observations arising out of the Royal Commission into the Financial Sector
Presented by Colin Pausey, Consultant, Sparke Helmore
10.00am to 11.00am: The Insurance Contracts Act and Non-Disclosure Cases: Critical Lessons for Personal Injury Lawyers
- Pre-contractual disclosure
- Fraudulent and non-fraudulent non-disclosure and misrepresentation
- Insurer’s remedies
Presented by Paul Bingham, Barrister, Howells’ List
11.00am to 11.15am Morning Tea
Professional Skills
11.15am to 12.15pm: Practical Perspective on Dealing with Superannuation Disability Claims
This session will reveal to you some of the practice issues when you deal with superannuation disability claims, address common traps, and give you useful tips to ensure an effective resolution of claims.
Presented by Christiane Etienne, CEO and Principal Solicitor, Win/Win Super Claims
12.15pm to 1.15pm: Tax, Superannuation and Centrelink Implications after Insurance Payment
- Basics on superannuation: tax components, preservation age, permanent incapacity condition of release
- Tax calculation for insurance claimants accessing benefits from superannuation
- Centrelink issues TPD claimants need to be aware of
- Costly pitfalls insurance claimants can fall into
- Tax calculation errors that occur
- Alternate ways claimants can access their benefit to reduce tax
- Should you pursue an income protection claim for your client?
Presented by Andrew Reynolds, Principal, Fitzpatricks