Sue and Tim were at a party. As they were leaving, Sue was involved in an accident and passed away.
While mourning the awful loss of his partner, Tim must also deal with the stress and anxiety of the mortgage payments, car loan and, most importantly, providing for their kids.
When Sue started her new job, she got automatic default insurance through her super. This insurance provides Sue’s beneficiaries with a lump sum payment if she passes away.
Sue had nominated Tim as her binding beneficiary, or the person who will receive her insurance and super, if she died.
Tim calls Rest Super and lets Rest know about Sue’s passing. Rest asks Tim to provide some documentation (for example a death certificate, marriage certificate and proof of ID) to confirm Sue’s passing and Tim’s relationship to Sue.
As Sue has a valid binding nomination to Tim, no one else needs to be contacted as part of the claim. Tim’s claim will include the death insurance and Sue’s super account balance.
Having a valid binding-nomination in place, can make a superannuation death benefit claim quicker and easier.