Income Protection, Death and Total Permanent Disability
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 practical information to provide an understanding of this important area.
Description
Attend and earn 4 CPD points including:
1 point in Competency Area 2: Professional Skills
3 points in Competency Area 4: Substantive Law
This seminar was recorded in WA on 15 November 2018
Chair: Brian Bolton, Senior Associate, SRB legal
9.00am to 10.00am: The Insurance Contracts Act and Non-Disclosure Cases: Critical Lessons for Personal Injury Lawyers
- Proper pre-contractual disclosure and an insurer’s remedies for non-disclosure
- Fraudulent claims
Presented by Geoff Hancy, Barrister, WA Bar
10.00am to 11.00am: Income protection, Death and TPD Policies and Claims Overview
- Life insurance: understanding its complexities
- Traps in interpreting these policies
- What makes ‘non-disclosure’ different to general insurance
- Options to pursue a claim if it is declined (internal dispute resolution, the Financial Ombudsman Service, the Superannuation Complaints Tribunal, the District Court or the Supreme Court)
Presented by Colin Pausey, Consultant, Sparke Helmore
11.00am to 11.15am Morning Tea
Competency Area 2: Professional Skills
11.15am to 12.15pm: Practical Perspective on Dealing with Superannuation Disability Claims
This session will reveal some of the practice issues when dealing with superannuation disability claims and dealing with common traps and useful tips to ensure an effective resolution of the claim.
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