Testimonials


I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC


Super Facts and Tips

Recovery Based Temporary Disability Insurance

Under such circumstances, a person gets injured but then recovers in a certain body part, instead of recovering from some kind of disability. The goal here is for you not have a case. You can get yourself well, recover as fully as you can, and then get you back to work. Hopefully, you will make the same amount of money if not more, that you were making when you were hurt. Thatís in your best long-term interest.

Unfortunately, there are cases wherein people arenít able to do that. If you have a disability issue, how is a recovery of permanent impairment calculated? This can leave many people scratching their heads. In many systems, every part of your body has been assigned a value for a number of weeks; from your pinky finger to every body part in between, there is a set value for a body part.

Whole Person Injuries

Whole person injuries are generally given to injured workers that have injuries to their head, neck, back or torso. They are authorized to get a physician and they can be contested under a number of reasons. But today we are going to talk about what kind of ratings these are worth. The value of temporary disability insurance is based upon the age of the injured worker, when they reach maximum medical improvement, and the amount of money that the injured worker was earning or his average weekly wage.

And the formula is this. You take the disability rating, times 400, time 2/3 of your average weekly wage, not above the state maximum. And when you multiply that by an age factor, the younger you are, the higher the age factor is. For example, if you are 20 years or younger, the age factor is 1.8. If you are 60 or older, the age factor is 1. So that is no factor at all.

Letís take that example for someone who hurts a back. Letís say you are 40 years old, and you have injured your back, and your authorized treating physician gives you a rating of 10% as a whole person. And you earn $700 a week. 2/3 of 700 is $466.20 So the formula would be 2/3 of your average weekly wage or 466.20 x 400 x 1.4 (age factor) and then multiply it by the rating. In this case the rating is 10%. The answer would be $26,107.20.

You must also know that there are limits on what you can receive in partial disability benefits. If your whole person disability rating is 25% or less, then the most you can receive in TPD is $75,000.

If this process seems too complex for you, then you can spare yourself the trouble and consult with an expert. Call us at 1300 252 167

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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