25
Super fund took more than 500 days to approve death benefit for grieving widow, Asic says
(www.theguardian.com)
this post was submitted on 30 Mar 2025
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@BrikoX
These are not "poor industry practices." They are design features.
A similar thing happened with my father's life insurance after he died, aged 43, in 1977.
His insurance company (Norwich Winterthur) took over a year to pay the benefit to my mom.
The only thing that kept our family housed and not sliding into poverty for that year was the whip-around organised by the unions, all of them, at the place where Dad worked.
Join your union, and be active in it. You never know when you'll need them.
Did they had to pay interests or penalties? I work in insurance in Brazil, and here the insurance company has to pay 30 days after it received the documentation for the claim, if they don't pay they have to pay 1% interest rate monthly and monetary correction (inflation). Sometimes we just pay even suspecting fraud because the risk of losing a long judicial process is not worth.