Honestly if that’s how much it’s going to cost me than I’m screwed. 2 kids a wife plus a mortgage, trying to get by on my COMSuper of $1400 a fortnight
I had my insurances tied up with my super, is that where your $1400 is coming from, your super insurance?
If so, be aware, be very F$#@in aware, they can be real bastards. First they tried to underpay, I wasn't playing that game and appealed I it and won. My income protection component lasted 2 yrs, then I had to claim my TPD Total permanent disability component and the fun'n'games really started,
They had investigators outside my home, they had people following me, they were sending me to specialist after specialist, looking for anyway out of paying. The assessor was putting up obstacles everywhere possible and in the end I simply told her, "I'm getting the lawyers involved" "OHH OHH, don't do that" she says "TOO LATE, it's already happening".
I got myself a lawyer on a 'No win, No fee' basis and handed it all to them. This was the best thing I could have done, I only wish I'd done so earlier. They took care of it all, I had 2 medical appointments, one with a psychologist to show I was not just trying to play 'the crazy' and a specialist in the field, in my case neurosurgery. The insurer flew their neurosurgical professor in from interstate to do an assessment and I honestly thought he'd reject the claim, but it was approved in full.
Because my insurance was in my super, When I received the payout they took the balance of my super. So be aware of that if you ever need to make a claim, if you're insured for $100k and have $50k in super the insurer is only going to contribute $50k and you'll have no super at the end of it. My advice either have separate policies from your super or increase the insurance to cover it all.