Insurance in Superannuation Voluntary Code of Practice

In 2017, Rest signed the Insurance in Super Working Group (ISWG) Voluntary Code of Practice (the Code), showing our commitment to making insurance in super easier to understand and simpler to manage.

What is the Code?

The Code is the superannuation industry’s commitment to high standards when providing insurance cover to our members. This means we’ll commit to being transparent, fair, respectful, honest and timely and ensure value for money cover.

What does this mean for you?

You can expect us to continue our work to improve Rest’s insurance offering and the way it is delivered to you. Rest’s adoption of the Code means we’ve committed to the following principles:


Providing you access to appropriate and affordable insurance cover

We’ll design our insurance offerings to be flexible and value for money.


Giving you greater certainty of your cover

We’ll be clear about what cover you have, when it’ll automatically stop and how to reinstate it if you’d like to.


Taking insurance out of the ‘too-hard-basket’

We’ll provide straightforward information to help you understand your insurance so you can make informed decisions. We’ll also provide special support for members who may need it.

Read more about what’s included in the Voluntary Code of Practice here.

Our transition plan

We worked with our insurer in 2017 to redesign our insurance product offering based on the needs of our members. With our goal to continually improve, we’re currently doing a further insurance review – this will set the foundation for us to provide a better insurance experience for you and all of our members, as envisioned by the Code, by the end of December 2019.

What we’ll do

Here are some of the key points we’re focusing on in our transition plan to comply with the Code, all designed to benefit you:

insurance cover for your family

Providing you access to appropriate insurance cover

When we design insurance benefits for our automatic insurance members (those we’ve provided insurance to by default, without asking) we’ll assess your likely insurance needs based on a range of factors such as life-stage, demographics, work status, and the ability to be insured elsewhere.

Providing you access to affordable insurance cover

We’ll design cover that is affordable and does not inappropriately erode your superannuation balance. We’ll be transparent on the basis of how we’ve determined an affordable level of cover.

young woman - affordable insurance cover

Giving you greater certainty of cover

One of the key changes that we’ll introduce is to stop your insurance cover when factors indicate that you may no longer need it, for example, if we haven’t received a contribution from you in the past 13 months. We’ll check with you first though to make sure that you’re okay with it.

If your insurance does stop because you’re unable to cover the costs, we’ll make it easy to restart your account if you want the cover. And we’ll communicate often to give you certainty of what you’re covered for.

Taking insurance out of the ‘too-hard basket’

We know that some people have unique needs and we’ll be proactive in recognising and providing support to those members. This may include people from non-English speaking backgrounds, those with disabilities, and any other instances you may need us – we’re here to help.

We’ve already pinpointed opportunities for improving the way we handle claims and the support offered to our members. In fact, we’ve had a project running since 2015 to redesign our claims process and experience. This includes the continual improvement of technology, processes and communication so that the entire claims process will be a better one.

In addition, we’ll publish our Insurance Strategy on our website. This will explain how we’ve designed our automatic insurance cover and will help you decide whether automatic insurance cover is right for you.

And we’ll publish a key factsheet allowing you to easily compare the key features of our insurance product against others in the market.

When we’ll do this by

Our insurance review is in progress and we’re aiming to have our insurance partner secured and be mutually working towards these goals by May 2019, with our objective to meet the requirements of the code by the end of December 2019. We’ll keep you updated on the progress and any changes that may impact you.


This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394 (Fund), of which Rest Super, Rest Corporate, Rest Pension and Acumen are part. It contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available on this website. The cost of providing financial services is included in the fees in the Fund as disclosed in the relevant PDS. Rest and the Fund do not charge any additional fees or obtain any commissions for the advice provided. Rest’s employees are paid a salary and do not receive any commissions. They may receive a performance related bonus that takes into account the financial services provided. Super Investment Management Pty Limited (ABN 86 079 706 657, AFSL 240004), a wholly owned subsidiary company of Rest, manages some of the fund’s investments. Apart from this, Rest does not have any relationships or associations with any related body corporate or product issuer that might reasonably be expected to be capable of influencing Rest in providing financial services.

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