Death claims

What is Death cover?

Death cover is available for eligible Rest members which provides a lump sum, or if chosen, a pension to the member’s beneficiaries in the event of their death.

A death benefit is the money payable on the death of a Rest member and consists of:

the deceased’s account balance net of any applicable fees and taxes and;
any insured benefits that may be payable.

While the claim is under review, it is important to note that the late member’s account is still considered active and the account balance will remain invested in the investment options which applied prior to the member passing.

The investment of the funds may result in a fluctuation of the account balance according to market performance and therefore may be higher or lower.

If you have any queries in relation to this and are an executor or believe you are a beneficiary, you may contact us to discuss or alternatively, seek your own professional advice.

Who can a Death benefit be paid to?

If you believe a loved one, who passed away, may have insurance in their Rest account and named you and/or others as a beneficiary, you may be eligible to receive a nominated amount as a lump sum payment, or if chosen, a pension.

By law, the Trustee can only pay a death benefit to any one or more dependents of the deceased member and the Legal Personal Representative (LPR) of the deceased member’s estate.

The Trustee can only pay the death benefit to another person if there are no dependents or LPR.

When deciding who to pay, the Trustee will review the deceased member’s circumstances, any documented wishes, and who relied on the deceased member for support at the date of death.

Where a valid binding beneficiary nomination has been made, the Trustee will pay the benefit in accordance with the binding beneficiary nomination. The binding beneficiary nomination will be valid if it has not lapsed and the nominated person(s) can provide evidence to confirm that they were a dependent at the time of the death of the deceased member or they are the LPR of the estate.

Case Study - How Sue was able to help her family, after she was gone

Sue and Tim were at a party. As they were leaving, Sue slipped and fell down the stairs, hit her head and died instantly.

While mourning the tragic loss of his partner, Tim also must deal with the stress and anxiety of the mortgage payments, car loan, and most importantly providing for their children.

When Sue started her new job, she received automatic default insurance through her super. She had nominated Tim as her beneficiary, or the person who will receive her insurance and super, if she dies.

Tim will receive the death benefit from Sue’s insurance and her super account balance.

The insurance is Death Cover.

If you become terminally ill or pass away, a lump sum payment or pension is paid to the people who depend on you.

While based on actual member experiences, for privacy reasons this information is illustrative only.

What do I need to do to make a Death claim?

If a Rest member has passed away and you would like to notify us of this and potentially make a claim, please follow the steps below to start the process:

Step 1:

You’ll need to have some basic information on hand before calling us. This will help us check if we can start a claim. Have ready: