Mark McKenzie, 57, has perhaps only weeks to live. He has pancreatic cancer and the last thing he wanted was to be on the phone almost daily to push his super fund for the early release of his super balance and the life insurance held through his fund.
The Life Insurance Code of Practice, which is mandatory for all members of the Financial Services Council, and includes those who provide life insurance to the members of super funds, allows insurers up to six months to pay claims. A former waste and recycling strategist, Mr McKenzie lives with his partner and their 12-year-old son and 17-year-old daughter in Sydney."I have expenses like a mortgage and wanted to take the kids on little side trips to have some nice times together," he says. "Without the money, we wouldn't have been able to maintain the repayments on our mortgage."
Source: Insurance Report (insurancereport.net)
jcollett_money I went through this for a friend. why don't they want tp part with the money? do they think it's theirs? can someone give me even a cynical explanation please? I know someone whose super fund own Medical Officer said she was entitled to it and they went for another opinion?
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