New guide to making insurance claims within super

The Association of Superannuation Funds of Australia (ASFA) has released a Super Guru booklet designed to help guide people through the process of making an insurance claim through their superannuation (super) fund.

ASFA CEO Ms Pauline Vamos says there are many misconceptions surrounding the process for making insurance claims within super and the booklet aims to debunk these and show people that making a claim may not be as complex as they think.

“The period when people make a claim is often a difficult one. We want to help fund members better understand and make their way through this process.

“We know that many super fund members are confused about how to make an insurance claim within super and some people believe that making an insurance claim is too complex to tackle without the help of a lawyer, for example.

“However, the majority of the time claims are paid in a timely manner and they rarely require legal input. Often, involving lawyers can drive up the costs and complexity of the process unnecessarily,” Ms Vamos said.

“This is why we have produced a booklet to give people basic information on how to make a claim. It includes an eight-step guide through the insurance claim process, handy tips and information on what a person can do if their claim isn’t approved and they disagree with the decision.

“Making a claim on the insurance you have in your super is much easier than you might think. Most genuine claims are straightforward and can be made directly through your super fund. Funds have staff who can help you make your claim.

“Super fund trustees legally have to act in fund members’ best interests, including in relation to the payment of insurance claims.

“Between 85-90 per cent of insurance claims, on average, have been paid out,” Ms Vamos concluded.

The booklet is available for consumers to access on the independent Super Guru website: www.superguru.com.au. Super Guru is an initiative of ASFA. It is an independent website that helps people understand and maximise their superannuation. It is a site for Australians of all ages and stages of their life, whether they’re studying, working, parenting or retiring.

To download a copy of the booklet, click here.

For further information, please contact:

Sarah Di Leo, ASFA Media Unit, 0451 949 300.

About ASFA

ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political national organisation, which aims to advance effective retirement outcomes for members of funds through research, advocacy and the development of policy and industry best practice.