What is a superannuation terminal illness claim?

2 min. readlast update: 11.21.2023

Superannuation Terminal Illness Claim: A Comprehensive Overview

Facing a terminal illness is emotionally challenging, and understanding the financial support available can provide some relief. If you're seeking insights into what a superannuation terminal illness claim entails, here's a detailed guide to assist you.

Terminal Illness Claim: Key Insights

  • Definition: A superannuation terminal illness claim allows members to access their superannuation funds early if they are diagnosed with a terminal medical condition likely to result in death within 24 months.
  • Medical Certification: To make a terminal illness claim, two registered medical practitioners, including a specialist in the area of the illness, must certify the condition's terminal nature.

Key Considerations

  • Immediate Financial Relief: This type of claim is designed to provide financial support during a challenging period, allowing members to cover medical expenses and debts or to support their loved ones.
  • Tax Implications: Funds accessed through a terminal illness claim are generally tax-free, providing maximum financial benefit to the member.
  • Insurance Considerations: If the member has life insurance or other relevant cover within their superannuation, it's essential to understand how making a terminal illness claim might impact these insurance benefits.

Guidance with Claimfinder

Navigating the intricacies of a superannuation terminal illness claim can be daunting. Claimfinder is dedicated to guiding you through this complex scenario. By connecting you with experts well-versed in superannuation matters, we aim to provide clarity and compassionate support. If you're considering or have questions about a terminal illness claim within superannuation, Claimfinder is here to help. 

If you have any questions, please don't hesitate to contact us. Our team is here to help you navigate and connect you with a super claims expert.

Note: While Claimfinder connects you with super claim specialists, we don't directly process claims or offer legal/financial advice. For more information about our services and responsibilities, please refer to our Privacy Policy and Terms of Use. don't hesitate to contact us.  
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