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Terminal Illness claims (TI)

If you’re insured for Death cover, you’ll also be automatically insured for Terminal Illness.
 
As a Rest member, if you’re terminally ill, you can access your superannuation account balance and insurance benefits (if applicable) tax-free.

Am I eligible for a Terminal Illness benefit?

The information that you and your doctors provide will assist Rest’s Trustee and insurer (if applicable) to determine your eligibility to receive a benefit payment.

What is a Terminal Illness benefit claim?

A Terminal Illness insurance benefit is the amount of money payable to you if it’s medically determined that you have less than 24 months (Rest Super members) or less than 12 months to live (Rest Corporate and Acumen) . The benefit is paid as a lump sum, or if chosen, a pension.

What am I entitled to?

If you're a Rest Super member:

If you’re diagnosed with an illness which suggests you have a life expectancy of less than 24 months, a Terminal Illness benefit may be payable.
 
At least two registered medical practitioners, with one being a specialist in that particular medical field, need to have concluded that you are terminally ill and or injured with less than 24 months to live. The certification period must also be valid.
 
If you're a Rest Corporate or Acumen member:

If you’re diagnosed with an illness which suggests you have a life expectancy of less than 12 months, a Terminal Illness benefit may be payable.
 
At least two registered medical practitioners, with one being a specialist in that particular medical field, need to have concluded that you are terminally ill and or injured with less than 12 months to live. The certification period must also be valid.
 
Under superannuation law, for the release of your account balance on the grounds of a terminal medical condition, the certification period can be a life expectancy of 24 months or less. So, there may be a situation where you qualify for release of your account balance on the grounds of a terminal medical condition (e.g. you have between 0-24 months to live) but not yet qualify for the insurance benefit (which requires that you have between 0-12 months to live).
 
In this situation, to maintain your insurance cover, you will need to leave sufficient funds in your account to continue to meet the insurance costs for Death cover. It’s important to note that your insurance cover will cease if you withdraw your full account balance.

 
A Terminal illness benefit consists of:

If you're a Rest Super member:

1) Your super balance less any admin fees and taxes, plus any positive or negative earnings, credited to the account up to the date of payment
 
And

2) An Insurance benefit (if applicable) for an amount the same as  your Death cover. Terminal illness isn’t a stand-alone benefit and any payment made in the event of you being diagnosed as terminally ill will reduce your TPD insurance by the same amount.
 

If you're a Rest Corporate or Acumen member:

1) Your super balance less any admin fees and taxes, plus any positive or negative earnings, credited to the account up to the date of payment
 
And
 
2) An Insurance benefit (if applicable) -
An insured Death benefit may be payable that would match the value of your Death cover. The amount will depend on your level of cover (if any) and your age at the date you are certified terminally ill.

Rather than being a stand-alone benefit, the Terminal Illness benefit is an early payment of the Death benefit and reduces your Total and Permanent Disablement 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.

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 assess your eligibility. 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.

This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003, trustee of Retail Employees Superannuation Trust ABN 62 653 671 394, 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.

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Awards and ratings are only one factor to consider when deciding how to invest your super. Further information regarding these awards can be found at Rest.com.au/about-Rest/awards. Past performance is not an indicator of future performance. SuperRatings Pty Limited does not issue, sell, guarantee or underwrite this product. Go to www.superratings.com.au for details of its ratings criteria. For further information about the methodology used by Chant West, see www.chantwest.com.au