Superannuation was set-up to allow us to work and save money without having to worry about our futures. Though the pension is the very basis of income for many people in our communities, the problem is that it does not go very far. Indeed, the pension is really a basic income and will not cover many expenses, especially in this day and age. Superannuation is intended to be paid after a certain age and fill in the financial holes that the pension cannot do.
What Happens When You Get Really Ill?
The problem is that life is unpredictable. We may live our days feeling safe and secure, but things can change very suddenly and leave individuals and families in very difficult and precarious situations.
Just imagine that you have worked for many years, paid your taxes, and had your super money taken out and stowed away. You are the sole breadwinner for the family, and you find out one day that you have developed a serious illness that is fatal if not treated urgently. In a case like this, you may not even be able to work and this can put your family at great risk. Who will pay the mortgage and the rent? Who will provide?
In these types of cases, extra money for things like surgery and medical treatment are often beyond the capacity of many families who live day to day and week to week. In such cases, it may be a good idea to seek out advice from an experienced lawyer about a critical illness claim.
Dealing with the Unpredictable
Though superannuation companies are loathe to pay out before a person reaches a certain age, it must never be forgotten by the affected individual that it is their money. The last thing that any seriously ill person wants to do is jump through miles of hoops just to get out the money that they have earned. This is where a lawyer can help to file a claim.
Of course, not every case of injury or illness is covered, and those that have been self-inflicted are not covered. What this leaves is a wide range of illnesses that are simply outside of any person’s control. Here are some examples of serious illnesses and conditions that may qualify for a compassionate release of superannuation:
- Terminal illnesses, such as cancer and asbestosis,
- Heart attacks and strokes that are sudden,
- Serious life affecting illnesses, such as Parkinson’s and Alzheimer’s,
- Illnesses that, if not dealt with by surgery, will lead to death,
- Diseases that have been transmitted by blood transfusion,
- Paralysis and illnesses that affect the nervous system.
In so many cases of progressive or sudden illness, having extra money for treatment or surgery would be of huge benefit to those families and individuals involved. Indeed, one’s very life may depend on having access to that money so that they can get the treatment they need! This is where an experienced and reliable law firm can really help.