Making A Personal Injury Claim
If you have been injured in an accident that is no fault of your own, you are likely entitled to financial compensation. Financial compensation, also known as damages, can cover any and all accident-related costs of medical treatment, medication, any needed physical therapy, property damage and even missed income due to recovery time and missing work. When it comes to traffic accident claims, there are the most common personal injury claims, and the most important thing you can do is to hire an experienced and knowledgeable personal injury lawyer to ensure you receive the largest compensatory amount possible. Hiring a Personal Injury Lawyer When it comes to hiring a personal injury lawyer to handle your traffic accident claim, make sure you find one that is local to where the accident took place. ‘Negligence’ is the legal work for blame, and it is the single most important deciding factor when it comes to any kind of personal injury claim. Negligence laws can vary from state to state as some follow contributory negligence laws while others favour comparative negligence laws. The main difference is that some state laws assert that if you have contributed at all to the cause of the accident, regardless of how small that contribution is, you might not be entitled to any kind of compensation for injuries sustained. In other states, negligence is shared and apportioned based on everyone’s role in the accident; in these states, a percentage of blame is assigned, and that percentage reflects how much compensation a person is entitled to. Filing Your Claim Your personal injury lawyer will assess your case and advise you on how best to proceed. They will give you a ballpark figure on what kind of compensation amount you can expect and will walk you through the entire process. They will help you request any pertinent records such as your medical records and accident report. They will file any paperwork that needs to be filed and ensure that it is done correctly and on time. Demand Letter Your personal injury lawyer will also help you draft your demand letter. Your demand letter is a written letter written by the injured party (plaintiff) to the person who the claim is being made against (defendant). In the demand letter, the plaintiff documents their intention to file a claim and seek financial compensation. Depending on how the defendant responds will determine how the claim will proceed from there. If they deny negligence or to settle, the claim can become a lawsuit, and then your attorney will prepare for litigation and tell you what to expect.
The Importance Of Super Annuation Funds
Superannuation refers to the retirement benefit granted to the working class. This benefit helps secure the future of many in Australia, and it is designed to help them prepare for retirement as part of a three-pronged approach. To access your supercare, you need to have reached your preservation age, being over preservation age and starting a transition-to-retirement income stream (TRIS), 60 or over and ceasing an employment arrangement or death. You can select either to receive your supercare benefits as a pension income stream or lump sum, or even a combination of both. Note that, pension and lump sum payments have different taxation rules if you access them before turning the age of 60. However, after you’ve reached the age of 60, both these super benefits are tax-free when accessing them. Protected from Bankruptcy In case you declare bankruptcy, your super benefits are preserved to the Reasonable Benefit Limit (RBL) of your pension. By doing so, the assets of the individual or business owners are protected from being taken by creditors during bankruptcy. However, there are firm rules in place for those who are trying to manipulate the system to anticipate declaring bankruptcy. Before your benefits are protected during bankruptcy, the individual will be under a lot of scrutinies. Lower Tax Rate During Retirement When the individual has begun receiving the allocated pension, there is no tax on capital gains or income. The super fund will be responsible for a tax of 15% of the assessable amount until the person reaches the required age, which is 60. Salary Sacrifice The individuals who use salary sacrifice will receive huge savings since earnings that go towards salary sacrifice are taxed only at a minimum rate of 15%. This means if the individual is at a tax bracket of 45%, then they will receive huge savings. Conclusion It’s imperative to note that in the superannuation circumstances, retiring varies from ceasing an employment agreement when you’re over the age of 60. In case you do this, you can obtain your super when you leave a job that ceases employment, even if you get a new job with a different employer. Meanwhile, you can only receive the super benefits you have accumulated with your previous employer. The other super that you’ve started accumulating on at your new work must be preserved until you reach another super requirement in order to release it; in such cases, it would be the age of 65. To legally receive your super in Australia, you are required to meet the rules and regulation put in place to access the funds. Remember, different circumstances of release have various payment conditions and tax implications.
Why Do Traffic Accident Claims Get Rejected?
Let’s be honest: Car coverage is a hefty expense. So it’s only natural to want to get compensated after getting into a car crash. However, the harsh reality is that insurers don’t share the same opinion — traffic accident claims can (and do) get rejected quite often. Why Exactly Would a Claim Be Denied? To a large extent, the relationship between motorists and insurance companies is defined by law. Just as the former are legally required to purchase coverage, the latter have a duty to treat policyholders in good faith. As such, any claim denial has to be justified accordingly. Some of the common justifications used by insurers include: -Policy exclusions: It’s not unusual for an insurer to state that a claimant’s policy doesn’t cover the kind of damages they present. -Lapsed policy: It’s often said that one waives their eligibility for coverage by not paying premiums wholly and timely. -Failure to notify: Insurers insist that the failure to report an accident as soon as it occurs leaves no room for investigation. Check your policy to see how much time you have to file a report. -Excesses: Claims are often denied if the damages sought exceed the limits of the policy in question. -Disputed liability: An insurer will reject a claim if they have a reason to believe that their policy wasn’t at fault for the accident. They could also argue that the damages sought weren’t a direct result of the crash. -Fraud: This could range from providing false information when obtaining coverage to filing an exaggerated claim. What Next? As highlighted earlier, you and your insurers’ interests are far from being aligned. So don’t be surprised if they respond to your traffic accident claim by making an argument for its rejection — this’ll allow them maximize their profits. What’s more important to note is that you don’t have to take their word for it. There are several options you could take after receiving a denial letter. As a rule of thumb, you want to review your policy and note down the company’s reasons for denial. Feel free to seek expert assistance while you’re at it. Ideally, your insurer will have a process for appealing a rejected claim. An auto accident attorney can help you collect the documents and evidence you’ll need to make a solid case. If you’re lucky, the insurance company will respond by inviting you to negotiate for a settlement. Otherwise, it could be that you’re better off filing a lawsuit. Have your lawyer evaluate the claim to figure out if this will be worthwhile.