What is a Terminal Illness benefit claim?
A Terminal Illness benefit claim is a claim that can be made for your superannuation account balance and insurance benefits (if applicable) if it’s medically determined that that your illness or injury is terminal, and you have less than 24 months to live. The payment is generally tax-free.
If you’re insured for Death cover, you’ll also be automatically insured for Terminal Illness.
Am I eligible for a Terminal Illness benefit?
The information that you and your doctors provide will assist Rest and our Insurer (if applicable) to determine your eligibility to receive a Terminal Illness benefit payment.
At least two registered medical practitioners, with one being a specialist in a medical field that relates to your condition, need to determine that you are terminally ill and or injured with less than 24 months to live. The certification period must also be current and not have ended.
A Terminal Illness benefit consists of:
An early payment of your Death insurance cover and your account balance. Any payment of your Death insurance cover reduces your Total and Permanent Disability amount insured (if any) by the amount paid.
If you don’t have Death insurance cover with Rest, your Terminal Illness benefit will be your account balance only.
The final payment will be your Death insurance payment (if applicable) and account balance less any admin/insurance fees, taxes and positive or negative earnings, credited to the date of payment.
What do I need to make a claim?
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 for you. Have ready:
- Your Rest member number
- Your life expectancy
Step 2:
Call us on 1300 300 778 to start the conversation and obtain a claim form.
Step 3:
Complete and return the claim form and supporting documentation.
