Insurance with super

Do you have insurance with your super?

Did you know that when you join Rest (if you’re 25 and over with a balance of $6,000 or more in your Rest Super account) you’re automatically covered with insurance when your employer next contributes into your Rest Super account? With flexible options, Rest’s insurance design allows you to choose the cover levels you need. You can apply for a combination of cover types and have a choice of Waiting and Benefit Period options for Income Protection.

What cover is generally available to you in super?

Super funds generally offer three types of insurance cover to their members:
    Insurance Death cover
In the unfortunate event of your death, your loved ones could receive a lump sum payment, or if chosen, a pension.
    Disability icon Total and Permanent Disability benefit (TPD)
If you become totally and permanently disabled as a result of being sick or injured, you may be eligible to receive a lump sum payment.
    Income protection Income Protection
If you’re unable to work for a prolonged period due to injury or illness, you may be eligible to receive an income stream.

Benefits of insurance in super

  • May be more convenient – because your insurance premiums are automatically deducted from your super rather than out of your salary or wages, you don’t have to pay out-of-pocket costs.
  • Potentially cheaper premiums - your premium will generally be lower than what you would pay for an individual policy, because your super fund is able to negotiate lower (group) rates with the insurer.
  • No medical checks required - you don’t have to undertake medical assessments to get default cover. You’ll only need to do this if you haven’t received default cover or want to increase your insurance.

Do you have the right level of cover?

The right level of cover for you will depend on your personal situation. Some things to consider include if you have a:
  • Spouse
  • Any dependants
  • Mortgage or other debts
Throughout your life, your insurance needs will change. For example, you may start a family – or your children may grow up and leave home. You may begin or end a relationship, buy a new house, get a new job, or retire. These important moments in life can make a difference to how much insurance cover you need. That’s why it’s important to regularly check you have the right type and amount of insurance cover.

Check your insurance cover today

You can find out what types of insurance you have and how much you're covered for by:
Downloading the Rest App
Registering for MemberAccess and clicking the 'Insurance' tab

Want to learn more?