Income Protection Insurance Laywers

Income protection policy disputes and advice

If you are unable to work for a temporary period of time, you may be entitled to income protection insurance benefits under an existing policy. Often income protection insurance is a policy that you would have opted-in through your superannuation provider; however, there are situations where cover is provided automatically, or through an insurer separate to superannuation.

At Murphy’s Law Accident Lawyers, we provide legal advice on income protection insurance policies. Most commonly this involves disputes with insurance providers:

• if your claim is rejected
• if there are delays in your claims process, or
• when there is a disagreement in the interpretation of the policy.

Other situations can arise if:

• your insurer wants to apply an exclusion under the terms of your policy,
• if you currently already have income protection insurance, or
• the provider has indicated that your benefits should be lowered or ended altogether.

How do I know if I have income protection insurance?

The most common way income protection insurance is taken out is:

• privately - by having set up a policy with an insurer directly; or
• through your superannuation arrangements -although this is less commonly offered these days.

If you have an insurance broker, check with them what policies you have in place. Otherwise, check your own paperwork to see what insurance you have applied for and/or check with your superannuation fund. Some practical options include:

• Checking your annual superannuation statement
• Logging in to your super fund’s online portal/app
• Reviewing your payslips for insurance premium deductions (look for wording like "income protection", "salary continuance" or "temporary disability")
• Checking your tax records or bank statements
• Asking your employer if you have any corporate cover

What do you need to consider with your income protection insurance?

Important details to confirm and understand include:

• the waiting period - how long you need to wait before payments start (e.g. 30, 60 or 90 days)
• the benefit period - how long the payments last (e.g. two years, five years up to age 65)
• the coverage amount - how much of your income you will be paid (e.g. is it a fixed and agreed amount or is it a percentage e.g. 75% or 85% of your pre-disability income?)

How we can help

Our team of insurance law specialists are here to help advise you on your income protection insurance policy terms, interpret your entitlements under the contract, assist you in supplying additional information or evidence that your insurer may require, and guide you through the review process if your insurer has made an unfavourable decision.

Each income protection policy is different from the next, so it’s important to seek advice from a lawyer or insurance broker, to help interpret the terms of your income protection insurance policy.