Finding other income

Thursday 1 October, 2015

Download PDF Order FREE booklet

On this page: Centrelink benefits | No interest loans | Insurance claims | Superannuation | Property and other assets | Compensation for work-related cancer


If you’re having difficulty paying your debts, you may want to consider ways to supplement your income.

Centrelink benefits

There are a number of Centrelink payments that may be available to people with cancer and their carers, including:

  • Sickness Allowance
  • Disability Support Pension
  • Newstart Allowance
  • Carer Payment and Carer Allowance
  • Bereavement Payment and Bereavement Allowance.

You may also be eligible for the Pensioner Concession Card or the Health Care Card, which can reduce your expenses. For more information, visit the Department of Human Services.

No interest loans

No Interest Loan Schemes (NILS) are for people on a low income who are unable to qualify for other affordable finance and who need a household item to improve their health or wellbeing. The loan is typically between $300 and $1200, and might be used for whitegoods, furniture, medical appliances or other essential items. Generally you must be able to repay the loan over 12–18 months. NILS loans are provided by a number of charitable organisations. To find your nearest NILS provider, visit Good Shepherd Microfinance, or call 13 NILS (13 64 57).

Insurance claims

It’s important to make insurance claims as soon as possible because there may be time limits that apply to making a claim. Consider all of your insurance policies, including income protection, private health, travel, trauma, consumer credit, total and permanent disability (TPD), mortgage and life insurance.

If you are not sure whether you are covered, contact the insurer. If you think you should be covered but your claim is denied, you can get in touch with the Financial Ombudsman Service. You can also call Cancer Council 13 11 20 to see whether we can connect you with a lawyer for assistance.

People often don’t realise that they may have insurance attached to their superannuation. Many industry superannuation funds, as well as some retail funds, offer insurance by default. In many cases, you will be covered as long as you did not choose to ‘opt out’.

Common types of insurance provided through superannuation funds include:

  • income protection insurance – usually paid as an income stream
  • total and permanent disability (TPD) insurance – usually paid as a lump sum
  • life insurance (may be called death cover) – usually paid as a lump sum.

To find out whether you are covered and whether your situation entitles you to make a claim, check your statements and contact your superannuation fund.

Superannuation

In Australia, you usually need to be at least 55 years old and retired before you are allowed to access your superannuation (super). However, you can apply to access some or all of your super early in particular circumstances, such as if you need to pay for medical treatment or are facing severe financial hardship. How you can do this will vary according to your age.

Aged 65 or over, or aged 55–64 and permanently retired

You can access your super as a lump sum or as an income stream.

Aged 55–64 and still working

You can access your super as an income stream to top up your salary, but you cannot access it as a lump sum. You can receive a maximum of 10% of your super account balance each year.

Aged under 55

You can access your super early only in certain circumstances, including:

  • if you need the money to pay for medical treatment, or transport to and from medical treatment for yourself or a dependant
  • if you need the money for home loan repayments to prevent the bank selling your house to pay off the debt (foreclosure)
  • if you have to make home modifications for your disability
  • if you need to pay palliative care, funeral, burial or cremation costs
  • if you have a terminal illness with a life expectancy of two years or less
  • if you are unable to ever return to work
  • if you have been receiving a Centrelink payment for 26 weeks continuously and you cannot pay your living expenses.

To access super early, you will need to apply to the Department of Human Services or directly to your super fund, depending on why you are applying. There are also tax issues to consider. To find out more, download our fact sheet on superannuation and cancer, or call Cancer Council 13 11 20.

Super, insurance and terminal illness

Many people have various types of insurance automatically attached to their super accounts. The premiums for this insurance are often deducted directly from the super’s lump sum (preserved amount). If you withdraw all your super, you will no longer be up to date with the insurance premiums, so your insurance cover may be cancelled.

People accessing super early because of a terminal illness might also be able to claim on their super’s life insurance. However, this insurance may use a different time frame to the super. The law allows people to withdraw all their super if life expectancy is two years or less. Many life insurance policies allow payouts only when life expectancy is one year or less. If someone has already withdrawn all their super, they may no longer be covered by the life insurance and might not be able to make a claim.

Before you decide to access your super early, make sure you have investigated the impact on your insurance entitlements. You may be able to leave some of your super in the fund so the insurance premiums continue to be paid. If you are in any doubt, talk to your insurer or to a financial planner.

Property and other assets

You may be able to sell an asset, such as a house, car or investments, to give you more cash to meet expenses or repay debts. It’s a good idea to speak to a financial planner about which assets to try to keep and which to sell or convert into cash. If you are considering selling an asset, such as property or shares, or cashing in superannuation or other similar policies, make sure you get advice that explains tax issues and maximises your return.

If a lender has a court order allowing them to sell your property to recover a debt, ask them in writing to postpone enforcement of the order so that you can sell your asset privately. You will probably get a better price if you arrange the sale yourself or through an agent.

Planning for the future

If you have been diagnosed with cancer, you may wish to consider your wishes for your future care. This is called advance care planning, and it can be started at any stage, whether you are healthy or ill.

Advance care planning mainly relates to your future medical care, but it can also involve appointing a trusted person to make financial and legal decisions for you if you’re unable to make them yourself at some point in the future. The documents for appointing this substitute decision-maker may be called a power of attorney, enduring power of attorney or advance care directive.

For more information, talk to a social worker, call Cancer Council 13 11 20, or visit Advance Care Planning.

Compensation for work-related cancer

Workers’ compensation provides protection to workers and their employers in the event of a work-related injury or illness. In Australia, about 5000 people are diagnosed with work-related cancers each year, which is about 6.5% of all new cancers diagnosed.

Work-related cancers can result from exposure to:

  • sunlight (e.g. labourers, wharf workers, postal service workers)
  • toxic dusts and chemicals, including asbestos, diesel exhaust, heavy metals, solvents and pesticides (e.g. construction workers, painters, armed services personnel, forestry workers)
  • ionising radiation (e.g. miners, nuclear energy workers).

If you think your work has substantially contributed to your cancer diagnosis, you may be entitled to workers’ compensation. This could include weekly payments, a lump sum and/or payment of medical bills. If a person dies because of a work-related cancer, their dependants may be able to claim a lump sum amount.

To make a claim, notify your state or territory workers’ compensation authority about your cancer and why you think it is work-related. A time limit may apply for making a claim.

For more information, check whether your local Cancer Council website has a fact sheet on compensation and work-related cancers, or call Cancer Council 13 11 20.


Reviewed by: Sarah Penman, National Pro Bono Manager, Cancer Council; Mary Bairstow, Senior Social Worker, Cancer Centre, Fiona Stanley Hospital, South Metropolitan Health Service, WA; Catherine Beavan, Consumer; Jeanne Potts, 13 11 20 Consultant, Cancer Council Victoria, VIC; Alka Bisen, Financial Counsellor and Project Coordinator – Financial Assistance Services, Cancer Council NSW, NSW; Rebecca Wu, Associate, and Brenton Priestley, Senior Associate, Minter Ellison Lawyers, SA; Robert Simon, Technical Strategy Manager, AMP Advice – TapIn and Technical Capability, AMP Advice – Channel Services. We acknowledge the contribution of Louisa Fitz-Gerald, writer of the first edition of this booklet.

Updated: 01 Oct, 2015