What you need to know about super fund death benefits:
Death benefit payments are included with all superannuation funds, which are usually made up of any insurance benefits attached to the policy as well as contributions.
The super fund trustee will decide how to distribute the payment, but some funds must adhere to existing and binding nominations. Those entitled to the death benefits are a surviving partner, children or dependents, or to the deceased’s estate.
If the policy holder is diagnosed as terminally ill, they can make a claim themselves.
How to claim superannuation death benefits
A superannuation fund must pay the deceased’s death benefit when that fund member dies. Payment is in the form of a lump sum and will be made to the person the deceased nominated as their beneficiary. However, you can also make a claim if you were not a nominated beneficiary but were dependent on the deceased, or were in a close relationship.
All regulated superannuation schemes include death benefit insurance, which is available to lessen financial hardship in already difficult times. Our lawyers can help you understand what you might be entitled to.
Why Catherine Henry Lawyers?
At Catherine Henry Lawyers, we understand the importance of having someone on your side when you’re taking on a well-resourced insurance company and our lawyers can prepare you for this by helping you gain early access to your funds.
We will act on a no-win, no-fee basis for these types of cases, which means you won’t be charged until the end of the case, dependent on the result.
Contact us today to find out how we can help with a free superannuation and insurance assessment.