Insurance with Rest

Life doesn’t always go as planned. Insurance helps you protect yourself and your loved ones from the unexpected.

At Rest, we’re committed to taking insurance out of the ‘too hard basket’. This means you can rely on Rest to:
 
  • provide insurance that is flexible so you can tailor cover to suit you
  • make insurance affordable, so premiums don’t inappropriately erode your super balance over time
  • give you greater certainty of whether you’re covered
  • improve the way we handle claims and support you

We've got you covered

Insurance options

We offer three types of insurance – Income Protection (IP), Total and Permanent Disability (TPD), and Death cover (which can be paid early if you suffer a Terminal Illness) – so you can choose the type of cover that’s right for you. And, we offer insurance no matter how few hours you’re working - even if you’re a casual.

Income protection

Income Protection

If you’re unable to work for a prolonged period due to injury or illness, you may be eligible to receive payments that replace some of your income.

Tpd

Total and Permanent Disability

If you become totally and permanently disabled as a result of being sick or injured and are unlikely to ever work again, you may be eligible to receive a lump sum payment.

Death insurance

Death Cover

In the unfortunate event of your death, your loved ones could receive a lump sum payment, or if eligible, a pension.

To keep things simple, we’ve created Default cover – a simple, affordable insurance package of IP, TPD and Death cover that’s available to all eligible members regardless of your occupation.

If Default cover isn’t enough, you can increase your cover by choosing from a range of options (eligibility conditions apply) to help you tailor your insurance cover to suit you including: 
 
  • Special offer to increase your cover  – if your Default cover recently started, you may be able to take advantage of our offer to increase your cover without providing health information 
  • Increase your cover with limited underwriting – a once-only offer to increase your cover up to a limited amount by answering a few simple health questions  (available to members of Rest Super, or Rest Corporate members with unit-based cover only)
  • Transfer your insurance to Rest - if you have cover with another super fund or insurer, you can apply to transfer this cover into your Rest account
  • Apply for extra cover at important times in your life - our Life Event cover lets you increase your cover when you reach a key milestone by answering a few simple questions  
  • Increase your cover with underwriting – apply to increase your cover to an amount you choose at any time by providing detailed health information

Coronavirus and Insurance

Discover how we'll protect your needs through the coronavirus pandemic


Important changes to insurance

 

Please see below for some of the more recent changes. You can access the latest product disclosure statement and insurance guide to find out about how they apply to your insurance.

 

An update to your insurance terms and conditions effective 30 September 2021


We’ve updated some of the terms and conditions of your insurance effective from 30 September 2021. We continue to review our insurance regularly to help ensure it continues to meet the needs of our members. Learn more about the changes to your Rest Super or Rest Corporate insurance.

Keeping your insurance with Rest


Protecting your Super legislation introduced 1 July 2019 means that if you have not contributed to your superannuation account in the last 16 months, and you have not chosen to keep your cover despite this inactivity, your insurance will ‘switch off’. To further protect your retirement savings, Rest has reduced the 16 months to 13 months, and provided you with a 60 day window after its cancelled to elect to reinstate.

Putting Members Interests First (PMIF)


If your super is less than $6,000 (or you’re under 25) when you join Rest, receiving default insurance is no longer automatic. 

If you’d like to have insurance in your super, you’ll need to let us know. Do this by clicking on the insurance tab in MemberAccess, and following the options. We’ll withdraw insurance premiums from your super until you tell us otherwise, so you’ll need to ensure you have enough in your account to cover your premium.

If you join Rest and are age 25 or over, with a super balance of $6,000 or more, you’ll receive default insurance automatically when we receive your next super contribution from your employer.

Important Reading

Insurance Guides

Product Disclosure Statements

Insurance Code of Practice

How Rest Advice can help

At Rest, we believe in helping you achieve your goals – both now and into the future – by making your money work smarter.