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TPD querie

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Bratly71, 1st Mar, 2011.

  1. Bratly71

    Bratly71 New Member

    Joined:
    1st Mar, 2011
    Posts:
    2
    Location:
    Victoria
    I am hoping for some assistance. I have TPD claim which has been approved.
    However now i have been told that to receive the funds i have to prove accountability for the funds. Such as having a mortgage. I am not sure if this is correct or not so i hope some one can assist me.

    Thanks

    Bratly 71
     
  2. Superman

    Superman Well-Known Member

    Joined:
    6th Nov, 2007
    Posts:
    343
    Location:
    Gold Coast, QLD
    Hi Bratly,

    This is strange.

    Who is the insurance company?

    I have not heard of these types of conditions before.

    Please provide more information.

    SM
     
  3. Bratly71

    Bratly71 New Member

    Joined:
    1st Mar, 2011
    Posts:
    2
    Location:
    Victoria
    Sorry for the delay in replying. The Insurance company is Plum/Suncorp, i was informed by the solicitors that due to Section 96 of the Work Cover Act. i had to be accountable for the funds.Such as a mortgage. This sounded strange to me. Any help would be greatly appreciated.

    Thank You

    Bratly
     
  4. jayce

    jayce Member

    Joined:
    27th Feb, 2010
    Posts:
    10
    Location:
    brisbane, qld
    hey... i was approved a tpd payout from sunsuper. i didn't have to prove what i was going to spend the money on or if i needed it. i suggest seeing a financial person to help. i had an awesome guy from the salvation army helping me out. (it's free).