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Insurance features

When you join Rest Corporate, if you’re aged 25 or over with a balance of at least $6,000 in super, you’re automatically covered by our insurance package. Everyone else can choose to take out this protection. Depending on what your employer chooses and your eligibility, we offer Default Cover for Death, Total and Permanent Disability (TPD) and Income Protection#.
 
All detailed information about our insurance offering is available in the Rest Corporate Insurance Guide.

Insurance options and features

Insurance options
Death cover
  • Provides a lump sum benefit in the event of death.
  • Default cover#:
    15% of Salary x Future Service to age 70.
  • You can increase, decrease or cancel your cover.
  • Voluntary cover available*.
TPD cover
  • Provides a lump sum benefit to you if you become totally and permanently disabled as a result of being sick or injured.
  • Default cover#:
    15% of Salary x Future Service to age 70.
  • You can increase, decrease or cancel your cover.
  • Voluntary cover available*.
Income Protection cover
  • Provides you with a monthly income stream if you're unable to work for a prolonged period due to injury or illness.
  • Default cover#:
    87% x Pre-disability income (includes 12% super component) with cover capped at $30,000 per month.
    Waiting period - 60 days
    Benefit payment period - up to age 65
  • You can opt-out or adjust your cover to include:
    Waiting period - 30 days* or 90 days
    Benefit payment period - up to 2 years.

Cost for insurance cover

Insurance costs All detailed information is in the Rest Corporate Insurance Guide.

Insurance features
 

Transfer cover from another fund^

You can transfer existing cover you may hold with your previous super fund or another insurer to Rest Limits and conditions apply (see Rest Corporate Insurance Guide for further details). 

Retained division

You can stay in Rest Corporate and retain your existing cover when you leave your current employer. On transferring to the retained division, your level of cover will be fixed and the cost of insurance will change to reflect your change in employment.

Special offer for new Rest members


You can increase your level of Death and TPD Default Cover or reduce your Income Protection waiting period without having to provide any health evidence (limits and conditions apply) within 180 days of the date you started employment. Call 1300 300 778 to change your level of cover.

Note: Death and TPD cover are linked benefits, ie payment of a TPD benefit reduces your Death and TPD cover by the same amount. Additional terms apply as set out in the Rest Corporate Insurance Guide. 

# Your employer may have chosen a different level of Default cover design that differs from Rest’s default package. Your employer may not include IP as part of the default package of insurance. If your employer has chosen Nil Income Protection cover, you may still apply for cover subject to underwriting and acceptance by the insurer.

* Subject to underwriting and approval by the insurer unless applied for as part of the Special Offer outlined above. Note that if your employer has chosen a 10% default option, the Special offer only applies to increase cover up to 20% for Death and TPD. If your employer has chosen a 90 day Income Protection Waiting Period, the Special Offer only applies to a change to a 60 day Waiting Period.
 

^Subject to approval. Conditions apply.