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Federal Superannuation and Corporate Law Minister Senator Nick Sherry has urged people affected by the Victoria bushfire to claim either death or total and permanent disablement (TPD) insurance attached to their super.
Offering his condolences to “all those who have suffered and lost loved ones”, he “strongly encouraged those [who] are able to consider this (insurance) option”.
“At such a simply appalling time some people may not immediately recall that they are likely to have TPD and death insurance via their super fund.”
Sherry said he has asked the Australian Prudential Regulation Authority to communicate with super funds and their insurers about prioritising bushfire-related life insurance and TPD claims.
He said the Association of Superannuation Funds of Australia had also “confirmed that super funds will do everything they can to assist”.
