At Insignia Financial we recognise that there will be times in life when our clients may experience unforeseen events that may leave them in a short-term or long-term vulnerable situation (like financial hardship). When this happens, we are here to support our clients – we have processes in place to help.

Financial hardship or other vulnerability

We recognise that financial hardship and other vulnerable situations may occur as a result of many different circumstances. Some of these circumstances include but are not limited to:

  • relationship challenges such as a recent separation/divorce
  • financial challenges such as loss of employment
  • disability or impairment
  • physical or mental health issues
  • language and/or literacy challenges
  • domestic or family violence
  • remoteness or isolation challenges
  • natural disaster
  • elderly abuse, and
  • loss of a loved one.

Access to superannuation due to severe financial hardship or on compassionate grounds

Clients may qualify for early access to their superannuation on compassionate grounds or due to severe financial hardship. Information on how superannuation can be accessed early and on compassionate grounds in limited circumstances, including the strict conditions to be satisfied, can be found on the ATO website.

We encourage any clients in vulnerable situations to contact the client services number for their specific superannuation fund directly (contact details can be found on the relevant website) or to contact their financial adviser to discuss what options might be available.

How can we support?

At Insignia Financial we are here to support our clients. Our staff undergo training that enables them to work with clients in a caring manner and provide the appropriate help. 

For clients encountering a vulnerable situation, we work closely with them to understand the situation and how best we can provide support.

With financial hardship we aim to review and process the application within five working days. We also undertake the following steps:

  1. provision of a form to apply for support
  2. where appropriate, use Centrelink Confirmation eServices to electronically verify financial hardship eligibility
  3. keep the client or authorised representative informed on the progress of the application using provided contact details. 

In addition, there are a number of independent resources and groups which can provide support and assistance. Find out more about the resources available.