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Rest Super Insurance GuideEffective 28 September 2020

The information in this document forms part of the Rest Super Product Disclosure Statement (PDS), effective 28 September 2020. You should read the PDS in conjunction with this Insurance Guide.

This Insurance Guide contains important information and forms part of the PDS for Rest Super. View and download at rest.com.au/pds or obtain a paper copy free of charge by contacting us.

Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739 AFSL 240003 (`Rest’, ‘the trustee’, ‘we’, ‘our’ or ‘us’) as trustee of Retail Employees Superannuation Trust ABN 62 653 671 394 (the Fund).

Insurance cover is provided through group life policies issued by TAL Life Limited, ABN 70 050 109 450 AFSL 237848 (TAL or the Insurer) to the trustee. TAL has given and not withdrawn its consent to statements about its privacy policy in this Insurance Guide and its use in connection with any request for personal information. To the extent that there is any inconsistency between this document and the insurance policy issued by TAL, the terms of the insurance policy prevail.

Rest Advice is provided by Link Advice Pty Ltd ABN 36 105 811 836, AFSL 258145 (Link Advice). Rest Advisers are employees of Rest and provide personal advice as authorised representatives of Link Advice.

This document contains general information only and does not consider your situation, objectives or needs. You should read and consider this document and the PDS carefully and speak with a financial adviser before making a decision about Rest Super. Information in this document is up to date at the time of preparation, but we may make changes from time to time. Any changes that are not materially adverse will be updated on our website at rest.com.au/governance.

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Rest Super Insurance Guide | 32

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Inside this guide

01 | The benefits of your insurance with Rest 4

02 | How your insurance with Rest works 6

03 | Rest Super insurance in detail 16

04 | Limits and exclusions to your cover 20

05 | Rest claims and rehabilitation 21

06 | Frequently asked questions 23

07 | Important information about your insurance 24

08 | Definitions 26

09 | The cost of your insurance 30Keep your insurance switched onYour insurance will ‘switch off’ if there’s no contribution or rollover to your super for 13 continuous months and you don’t choose to keep your insurance. Your insurance cover can be turned on again (reinstated) if you tell us that you’d like to keep it. You’ll need to tell us within 60 days of the date it was cancelled and you’ll need to have enough money in your account, or top up your account, to pay for any premiums and fees owed.

So if you stop working, or move jobs, it’s important to keep in contact with us so your Rest insurance keeps you covered. See page 9 for more details.

Welcome to your insurance with RestRest believes that affordable and quality insurance is an important part of your super. We care about looking after you, that’s why we make it easy to choose an insurance option that’s right for you.

Helping you build a brighter future is at the centre of everything we do, so we’ve designed this guide to help you feel confident about:

• your insurance cover

• your insurance options

• changing your cover to suit your needs

• how Rest can support you if you need to make a claim.

Simple, straightforward, fairWe’re committed to making insurance easier to understand and simpler to manage, and to working with our members in a way that’s transparent, respectful and fair.

That’s why we’ve adopted the superannuation industry’s Voluntary Code of Practice which sets high standards for the delivery of insurance benefits to super members.

To learn more about how we’re implementing the Code, read our transition plan at rest.com.au/member/insurance-code-of-practice

Help when you need itInsurance is important, no matter what age you are. For help choosing the right cover for your needs, check out our information hub at go.rest.com.au/insurance-explained or connect with a Rest Adviser.


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01 | The benefits of your insurance with Rest

This section shows you how having your insurance with Rest can help you protect the things that matter the most.

Rest offers flexible insurance cover designed to provide financial protection if you are unable to work for a long period due to illness or injury, become totally and permanently disabled, terminally ill or die.

Our insurance includes Death (which includes Terminal Illness), Total and Permanent Disability and Income Protection cover.

The total cover of our members:

$211.6 billionDeath cover

$63 billionTotal and Permanent Disability cover

$1.45 billion per month Income Protection cover

Rest Super’s insurance provides cover for

full-time, part-time and casual workers

Around 800,000 members are insured

with Rest

In 2019-20, Rest paid

5,139new claims for Death (incl. Terminal Illness),

Total and Permanent Disability and Income Protection insurance

Overview of insurance at Rest as at 30 June 2020


Overview – our insurance cover

Rest offers you two types of cover:

• a lump sum for your beneficiaries or estate if you pass away (Death cover), which can be paid earlier if you become Terminally Ill.

• financial protection that replaces some of your income if you’re unable to work due to sickness or injury (IP cover) and/or provide a lump sum benefit (TPD cover).

Death cover

Death cover provides your beneficiaries or estate with a lump sum or, subject to eligibility requirements, a pension in the event of your death.

Our life stage approach to Death cover means that your sum insured (the amount you are insured for) will change automatically depending on the stage of your life and your expected need for Death cover.

Death cover also includes an advance payment of your death benefit in the unfortunate event you become Terminally Ill.

TPD and IP insurance

Our combination of TPD and IP insurance provides you with financial support if you are unable to work due to illness or injury.

In the event you suffer a sickness or injury that meets the Total Disability requirements, you may be eligible for monthly income replacement payments (our IP insurance) as we support you in your recovery and return back to work. Our Default IP has a 60 day Waiting Period and pays you for up to 5 years (or up to a 2 year benefit if your Waiting Period ends on or after age 58).

If your illness or injury is significant and means you are unlikely to ever work again, you may be eligible for a lump sum Total and Permanent Disability (TPD) payment to help you with the serious financial impacts of never being able to work again. It is important to note that your TPD and Death Cover are linked, so any TPD payments will reduce your Death benefit by the amount paid.

If you have Income Protection insurance, it’s important to contact us if you stop working for an extended period of time. The IP benefit paid is based on income earned from working over the last 12 months (unless you are in a leave without pay arrangement), so if you stop working, it could affect your ability to receive a benefit payment.

In 2019-20, Rest’s IP policy provided 3,146 members with a benefit to replace their income. Around 1,258 Total and Permanent Disability claims were approved and 735 Death claims were paid.

For a detailed explanation of each type of insurance and our life stage approach, see pages 16 - 19.


This section will help you understand your insurance with Rest, how it works and what your options are.

Insurance cover when you join Rest SuperThere are different ways you can receive insurance cover when you join Rest. You’ll be eligible for Default insurance cover automatically when you meet certain eligibility requirements such as being aged 25 or over, and have an account balance of $6,000 or more, as described on page 7.

You may be eligible to choose Default cover when you meet certain eligibility criteria at the start of your membership, such as joining Rest and choosing cover within 180 days of joining your employer.

(See ‘How do I know if I have cover’ on page 7 and ‘When does my cover start’ on page 8).

Otherwise you can apply for cover at any time but you may need to provide health evidence.

Your insurance cover is subject to any applicable conditions and exclusions outlined in this Guide.

Our Default Cover is made up of:

• Default Death cover (including Terminal Illness cover)

• Default Total and Permanent Disability (TPD) cover

• Default Income Protection (IP) cover.

The total amount of Default Cover you receive is designed to change as you grow older and your insurance needs change.

You can cancel part or all of your Default Cover at any time. You can also apply for extra Voluntary Cover if you don’t think Default Cover is enough for you.

02 | How your insurance with Rest works

What are units?Rest Super’s Default Cover is provided in blocks of cover called ‘units’. You’ll be allocated a number of units depending on your age and the type of cover you have.

For example, as you can see from the table on page 31, if you’re 35 years old, the applicable Death cover sum insured is $374,000 – the equivalent of five units of cover. This means that one unit would be $74,800 (divide $374,000 by five). You then have the option to increase the number of units you have by buying Voluntary Cover – see pages 9 and 10 for more details.

Some words in this guide have technical meanings, which are explained on page 26.


How do I know if I have cover?

New members joining Rest from 1 April 2020

Have you joined Rest within 180 days of the date you started your current job?

Yes No

No

No

You can apply for Default Cover^

If you apply outside the 180 days, you can

apply by providing more detailed health

evidence. Go to MemberAccess to

get started.

No

You can get insurance now by providing health

evidence and have an account balance over

$1,000.

Alternatively, when you turn 25, have a balance of $6,000 or more, and we receive a

mandatory employer contribution, you may get Default Cover**.

Yes

Is your super balance $6,000 or more?

Yes

You’ll automatically receive Default Cover*

If you apply within 180 days of the date

you started your current job, you can

apply for Default Cover by answering a few short questions.

Go to MemberAccess to get started.

Yes

Is your super balance $6,000 or more?

Are you aged 25 or over? Are you aged 25 or over?

NoYes

You can apply for insurance by providing health evidence. Go to

MemberAccess to get started.

You’ll get Default Cover when we receive a

mandatory employer contribution. This

cover may be Limited Cover when it starts*.

You can get insurance by choosing it when

you first join. We’ll send you an insurance offer

letter with details.

*Please note: Conditions apply, depending on your Active Employment status. See Limited Cover definition on page 26. **Default Cover will be provided if you haven’t elected any of the 3 types of Default Cover previously. This means that if you had chosen Death only cover previously, you will not receive Total and Permanent Disability and Income Protection when you turn 25, reach an account balance of $6,000 and receive your next employer contribution.^ If you choose to opt-in to some Default Cover (but not all Default Cover), you won’t receive any further Default Cover when you do become automatically eligible.


When does my cover start?

Type of cover When cover starts

If you’re 25 or over and have a super account balance of $6,000 or more (automatic Default Cover)

Default Cover starts automatically when we receive the first mandatory employer contribution after you meet eligibility requirements. Please note that if you have previously elected Default Cover, whether just one type or all three (Death, Total and Permanent Disability, Income Protection), then no further Default Cover will commence at a later date when you do satisfy eligibility requirements.

If you’re under 25 and choose Default Cover (no matter how much money is in your super account)

If you choose Default Cover within 180 days of the date you started your current job, your Default Cover starts when we receive the first mandatory employer contribution after you’ve made this choice.

If you choose Default Cover 180 days or more from the date you started your current job, we need you to provide health evidence as part of the underwriting process. If your application is declined, Default Cover will still start automatically when you meet age and account balance eligibility requirements at a later date.

If you’re 25 or over with an account balance under $6,000 and choose Default Cover

If you choose Default Cover within 180 days of the date you started your current job, your Default Cover starts on the date your election is received, and you satisfy the health-related questions, and you have enough money in your account to pay premiums.

If you choose Default Cover 180 days or more from the date you started your current job, we need you to provide health evidence as part of the underwriting process.

If your application is declined, Default Cover will still start automatically should you meet age and account balance eligibility requirements at a later date.

If you’ve applied for Voluntary Cover The date your application is accepted by our insurer.

If you choose to have Default Cover, you’ll need enough money in your account to cover premiums.


What if I don’t want cover?

Life changes and so do your insurance needs. You may decide you don’t need all of your Default Cover, or you don’t need any cover at all. This section explains how you can change or cancel your cover.

Reducing your coverYou can reduce your insurance cover at any time by reducing the total number of units you currently have.

If you have Voluntary Cover (any Voluntary Cover you have chosen on top of your Default Cover), you must cancel your Voluntary Cover before you can reduce your Default Cover. Default Cover can only be reduced if there is no Voluntary Cover (ie Voluntary Cover is cancelled).

Cancelling cover (opting out)Insurance cover with Rest is not compulsory and you can cancel your cover at any time. However, if you cancel your cover now and decide that you want it back in the future, you will need to provide medical evidence and be assessed by the Insurer (this is known as underwriting).

To reduce or cancel your cover, please consider your needs carefully and either go online at rest.com.au/memberaccess and select the insurance tab, or call 1300 300 778.

What happens if my insurance cover is cancelled because there hasn’t been any contributions?

If your insurance cover is cancelled because there hasn’t been any contributions made into your account for 13 continuous months, we’ll contact you to let you know. If you want to reinstate your cover, you’ll need to let us know within 60 days of the date your insurance is cancelled. You’ll find the cancellation date, and the date you need to respond by, on the letter or email we send to you.

To reinstate your cover, go online at rest.com.au/memberaccess and select the insurance tab, or complete the Reinstate my insurance form available from rest.com.au/forms and return it to us within the 60 day period. Your cover will also be reinstated if you or your employer make a contribution to your account within 28 days of cancellation. To learn more, visit go.rest.com.au/protect

For your insurance to be reinstated, your account must have enough funds to pay the premium owed for the period your insurance was cancelled. If your account does not have enough funds, your insurance will only be reinstated if your account is sufficiently topped up within the 60 day period.

How do I apply for insurance cover?

The information in this section will be helpful to you if:

• you don’t have Default Cover and you would like to apply

• you want to apply for more cover

• you chose to opt-out of cover and would now like to have cover again

• you have insurance elsewhere and would like to transfer it to your Rest Super account.

Applying for cover

You can apply for cover by logging into MemberAccess and answering some health questions at rest.com.au/memberaccess

You will need to have a minimum account balance of $1,000 if you are applying for insurance.

Cancelling your cover We recognise that not everyone wants or needs insurance which is why we give you the option to opt-out. If you make a decision to opt-out of any insurance cover, you may need to apply in writing for cover to be reinstated at a later point. This cover may be subject to our Insurer’s underwriting process. (See page 13 for more information about underwriting).

It’s important to note that any cover that you apply for which requires underwriting, may exclude cover for any pre-existing health conditions you have or be subject to other limits or conditions.


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Duplicate accounts

Generally, you may only have one super account with Rest and conditions apply. If you apply to join Rest Super and we find that you already have a Rest Super account, these accounts will be merged into one.

If a duplicate account is not identified prior to you suffering a claim event, the accounts will be merged at claims stage and only one Death, Terminal Illness, TPD or IP benefit will be payable. If the Default Cover amounts are not identical between the accounts, the higher cover amount will be the insured amount. If you have paid insurance costs on both accounts we will refund the insurance costs paid on the duplicate account for the period of overlap.

Increasing your cover

You can apply for Voluntary Cover if you would like to be covered for more than our age-based Default Cover. You can apply for one or a combination of Death cover, TPD and IP insurance, on top of your Default Cover. The cost of Voluntary Cover is based on your age, gender and occupation category, and is set out in the tables on pages 31 and pages 35-40.

Super Tip #1

Special offer for new members You may be able to take advantage of a special limited offer to increase your level of Default Cover without providing health evidence.

• Death and Total and Permanent Disability - an extra 2 units of cover.

• Income Protection - increase your cover up to the lesser of:

– 77% of income (plus 12% for super)*; and

– $10,000 per month.

If you chose Default Cover, the special offer period is 180 days from the date you started your current job with your employer.

If you received Default Cover automatically, the special offer period is 180 days from the date of our letter to you confirming your insurance with Rest has started.

If you exercise this special offer, Limited Cover may apply to your increased cover (see Limited Cover where Default Cover commences section on page 20). You can take up this special offer by calling us on 1300 300 778.

* Additional Default Cover for IP will be issued as Voluntary Cover, as applicable based on your sum insured.

In addition to your current cover, you can apply for up to:

• Death and TPD of $200,000 (unitised and/or Voluntary Cover); and/or

• Income Protection cover based on the above to the lesser of:

– 77% (plus 12% super) of income; and

– $10,000 per month.

just by answering a few health questions. You can do this once only. Full underwriting will apply for amounts over the above or for subsequent requests.


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Cover during assessment of your application

While your application for insurance cover is being assessed by the Insurer, you will be given interim Accidental Death, TPD and IP insurance cover. This interim Accidental cover will be at the level of cover being applied for, to a maximum of $1,000,000 for Death or TPD cover and/or $10,000 per month for IP cover and will continue until the earliest of:

• the date your ‘online underwriting application’ or ‘Application for insurance Rest Super’ is either accepted or declined by the Insurer

• 90 days from the date we receive your ‘online underwriting application’ or ‘Application for insurance Rest Super’

• the date you cancel your ‘online underwriting application’ or ‘Application for insurance Rest Super’

• the date that a benefit becomes payable

• the date you cease to be eligible for cover under one of the other conditions for cover ending listed on page 15.

Interim Accident cover is also provided where you’ve chosen Default Cover, but the cover has not yet started, and will be provided until the earliest of:

• the Default Cover commencement date on receipt of first mandatory employer contribution after election/eligibility

• 90 days from the date we receive your Default Cover election or you become eligible for Default Cover.

Cooling off period for Default Cover

Where you receive Default Cover, either automatically or by choosing it, you will have 14 days from the date of our confirmation letter to cancel your cover and not pay any insurance premiums. Any cancellation requests received after 14 days from the date of our letter will be effective from the date Rest received your request.

How much cover do I need?

We recommend you seek independent financial advice before making your insurance decisions. For members, our online insurance needs analysis^ can also help - it takes around 10 minutes to complete. Visit rest.com.au/advice to get started.

Rest Advice can help

Rest Advice is all about helping you make good decisions with your super and money. So if you’d like to have a chat about the right level of insurance cover for you, a Rest Adviser can help.

Our over-the-phone service makes getting advice easy and convenient, and allows you to make decisions in your own time.

Simple personal advice about your Rest account is generally available to you at no extra cost.

Complex personal advice may incur an additional fee that is not payable from your Rest account. Speak with your Rest Adviser for more information about personal advice and any fees that may be payable.

Visit rest.com.au/advice to book a phone appointment with a Rest Adviser.


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Life Event Cover

Some events in life really make us take a closer look at our financial needs - like getting married, having a child or the death of a partner.

You can now apply for additional cover at these key life events by answering a few health questions. You’ll just need to apply either within 90 days of the event, or within 90 days of the day we send you an annual statement (as long as the event was within 12 months).

You can only apply for one Life Event increase every 12 months.

A Life Event is when you:

• receive an increase in salary of 10% or more from your employer

• get married or start a de facto relationship

• adopt or become a parent of a child

• have a dependent child starting primary school, secondary school, or tertiary education

• take out a mortgage on an owner-occupied home

• get divorced or terminate a de facto relationship

• suffer the death of your spouse

• first become eligible for a Carer Allowance from Centrelink.

Interim Accident Cover will be provided when you apply for Life Event cover from the date we receive your application until the earlier of:

• 90 days after the date we receive your application for Life Event Cover

• the date we accept or decline your application for cover

• the date you withdraw your application

• the date a benefit for Accidental Death Cover or Accidental TPD Cover becomes payable

• the date you reach the Cover Expiry Age

• the date you cease to be a member of Rest

• the date you die

• the date the Insurer’s Policy terminates.

Transferring your insurance

You can transfer any existing Death, TPD and/or Income Protection insurance cover that you have externally to your existing Rest Super account (subject to limits, conditions and approval). To transfer your insurance, go online at rest.com.au/memberaccess and select the insurance tab, or visit rest.com.au/forms to download an ‘Insurance transfer’ form.

If you’re transferring to Rest Super from another Rest product, you can also transfer your insurance (subject to terms and conditions).



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Understanding the underwriting process

Underwriting is the process of evaluating the information you provide on your application. Our Insurer considers all the risk factors that may increase the likelihood of your death or disability before a certain time such as:

• age and gender

• occupation

• medical history, current health and habits

• family medical history

• pastimes (including hazardous pursuits)

• residency.

The more information that is available to the Insurer, the better placed they may be to understand your current situation. You will only be eligible for underwritten insurance cover after providing the required information to the Insurer, who will assess and subsequently accept or decline your request for cover.

You may not be covered, or your request for cover may be declined, if you do not provide all the medical or other information requested by the Insurer, or if the information you provide is not a full, complete or honest disclosure that meets your obligations under the law.

If the Insurer accepts your application, they may accept you on standard terms or special acceptance terms. The most common example of special acceptance terms is cover being accepted with an exclusion. If you choose to cancel your insurance cover and decide to apply for cover at a later date, you will need to again provide information about your health and financial circumstances to the Insurer for assessment.

The amount of cover you apply for will impact the amount of health and financial information that our Insurer will need from you.

The underwriting process

Complete application for insurance or to increase insurance.

Decision

Insurer’s underwriters assess risk, taking into account factors such as: age, gender, occupation, history and pastimes.

Insurer may request further information or medical examinations.

• Decline• Accept as standard• Accept with exclusions.

Personal statement

Assessment

Further evidence


Does my cover ever change?

If you have our Default Cover package, you’ll find that your insurance may change each year. This section describes the times that your cover may change.

Insurance cover changes on your birthday

Your Default Death, TPD and IP insurance will automatically change in certain years on your birthday. Depending on your age, your cover may increase or decrease as you pass through each age band.

What if I go on leave or change jobs?

We know that things change, for example, you may go on a career break, maternity leave or just on a holiday. We also know that it’s more than likely you will change jobs as you progress through your career. This is why we’ve made our insurance cover flexible, so that you can maintain your cover as your life changes.

Worldwide Cover

Subject to the terms and conditions in this guide and the Insurer policies, you are covered 24 hours a day, 7 days a week. You may travel or work in any part of the world without restriction to your insurance cover. However, the Insurer reserves the right to ask you to return to Australia at your own cost to assess any Terminal Illness, TPD or IP claim.

Cover while on leave without pay (including parental leave)

Your insurance cover will continue on the same terms and conditions if you go on leave without pay that has been approved by your Rest employer, or if you go on parental leave (maternal, paternal and adoption leave) from your Rest employer provided you are not still on leave without pay beyond the earliest of:

• your agreed and scheduled return to work date

• 24 months

Your cover will continue under the same terms on the condition that your employer has approved the leave in writing, before you go on leave. You may also be asked for documented evidence of the approval for your agreed leave and scheduled return to work date.

Cover will continue until any of the events described in ‘When does my cover end’ on page 15 applies to you.

However, if you don’t return to work within the periods set out above, the TPD definition used to assess a claim made by you may differ.

Conditions may apply and you will also need to make sure there is enough money in your account to pay your insurance costs during the period of leave. IP benefits will not start accruing until the end of the 60 day Waiting Period or the date you are due to go back to work (whichever is later).

Cover continues when you’re in between or change jobs

Rest keeps you covered whilst you are changing employers or in between jobs.

Any insurance cover will continue until the last Friday of the month in which your account balance is insufficient to meet that month’s insurance costs in full and will end without notice. You are responsible for making sure your account balance has enough to maintain your insurance cover. If your account balance is too low to meet your monthly insurance costs, your cover will end without notice. This is referred to as your cover having “lapsed”.

If you’re in between jobs for an extended period, or if you change jobs and your work hours change, this may impact an IP or TPD claim you make with us.

If you make an IP claim, your pre-disability income used for the claim will be averaged over the income you earned 12 months before becoming totally disabled. For TPD claims, the number of hours you’re gainfully employed could be used to determine which part of the TPD definition will apply to you.

14

When does my cover end?

Your insurance cover will end on the earliest of:

• the last Friday of the month in which your account balance is insufficient to meet that month’s insurance costs in full

• the date Rest receives a request from you to cancel all or part of your cover

• the date you turn age 70

• the date you stop being a member of Rest

• for Death and TPD cover, the date a TPD benefit becomes payable (except where your Death cover is higher than your TPD cover, in which case you will remain insured for the balance of your Death cover until the earlier of any other cessation condition)

• for Death and TPD cover, the date a Terminal Illness Benefit becomes payable (except where you hold higher TPD cover than the Terminal Illness benefit paid to you, in which case you will remain insured for the balance of TPD cover until the earlier of any other cessation condition)

• 13 continuous months from the date of your last contribution or rollover, unless you elect to keep your insurance cover before it ceases

• the day you die.

Any insurance costs which are deducted for a period after cover ends will be refunded.

If your cover has ended because you did not have enough money in your account to cover your insurance premiums, it will be reinstated from the date it ceased if you or your employer makes a contribution to your account within 28 days of the cover ending. You’ll need to add enough money in your account to pay for any premiums owed.


03 | Rest Super insurance in detailThis section will go through each of our insurance cover types and the differences between Default Cover and Voluntary Cover.

Default Death cover

Our life stage approach for Death cover provides a level of cover in line with different life stages, based on typical scenarios. Default Death cover starts lower when you are younger, automatically increases when the need for cover may be higher, and then reduces again as you get older.

For example, younger people under 25 are more likely to be single, have no dependants and have lower debt levels, meaning they may have less need for a high level of Death cover.

As you get older, life changes. For example, finding a partner, having children and taking on the responsibility of a mortgage. With these changes often comes increased financial commitments and a need for a corresponding increase in the level of insurance cover. Life typically changes again when debts are paid off, the children have left home and you’re starting to think about retirement. At this time, the need for insurance cover generally reduces again.

The cost of Default Death cover and the amount of cover provided depends on your age – (see page 31). You should consider your own circumstances, as not everyone fits into the ‘typical’ life stages on which Default Death cover is modelled. We recommend you seek independent financial advice before making your insurance decisions. For members, our online insurance needs analysis can also help - it takes around 10 minutes to complete. Visit rest.com.au/advice to get started.

Death cover

Rest has designed its Default Cover to provide your dependants with financial support in the event of your death. It also provides you with financial support in the unfortunate event you become Terminally Ill.



Voluntary Death cover

Voluntary Death cover is a fixed amount of cover you can apply for on top of your Default Death cover. This amount of cover does not change with your age, so you have more control over the level of insurance and can tailor the amount to suit your needs. Each voluntary unit of Death cover provides $10,000 of cover. Cover ends at age 70. Subject to approval by the Insurer, you can apply for any amount of Death cover on top of your existing Default Death cover. The cost of voluntary units (see page 31) is based on your age, gender and occupation category (see page 43).

When you think about how much voluntary Death cover to apply for, consider how your Default Cover will change as you age and how this meets your expectations about how much cover you will need at each stage in life.

Terminal Illness benefit

While we hope this will never be a situation you have to face, if you are diagnosed with an illness that means you have a life expectancy of less than 24 months, a Terminal Illness benefit may be payable.

While the Insurer assesses your eligibility to receive a Terminal Illness benefit into your account, Rest is responsible for the assessment of the early release of your super including your Terminal Illness benefit.

The amount payable for Terminal Illness would be 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. Your Death cover will cease once a Terminal Illness benefit is paid.

The most commonly claimed health conditions in Rest Super across Death, TPD and IP include:

• musculoskeletal – for example, back pain

• mental health

• cancer.

The most commonly claimed health conditions in Rest Super across Death, TPD and IP include:

• musculoskeletal – for example, back pain

• mental health

• cancer.


Total and Permanent Disability coverRest’s TPD insurance is designed to support you if you are unlikely to ever work again due to Total and Permanent Disability from sickness or injury.

Death and TPD are linked benefits, which means that a payment of a:

• TPD benefit reduces your Death cover by the same amount

• Terminal Illness benefit reduces your Death and TPD cover by the same amount.

For example, if your Death and TPD cover are for equal amounts and you are paid a TPD benefit, your Death and TPD cover will cease. However, if your Death cover is higher than your TPD cover and you are paid a TPD benefit, you will continue to be insured for the balance of your Death cover.

Income Protection coverYour ability to earn an income is one of your most important assets. Rest’s long-term Income Protection insurance is designed to support you when you are unable to work due to sickness or injury.

Default TPD coverOur TPD benefit aims to help protect you against the financial costs associated with Total and Permanent Disability. Default Cover is a fixed sum insured of $28,600 at most ages.

The cost of Default TPD and the amount of cover provided depends on your age (see page 32).

Default IP coverLike our Death cover, our Default IP cover follows a life stage approach. It is lowest when you are young and typically on a lower salary.

It automatically increases as you get older, gain experience and start to earn more. The cover amount and cost of Default IP cover depends on your age (see page 33-34 for more information on the costs of IP).

Income Protection insurance in detailRest’s IP insurance provides an income in times of prolonged absence from work due to sickness or injury. Our IP benefit is life stage based, with the levels of cover increasing as you get older to reflect salary increases generally related to age.

You are eligible to receive an IP benefit due to Total Disability or Partial Disability continuously for more than the Waiting Period. Benefits for Partial Disability are proportionately less than benefits for Total Disability (see definition for Partial Disability on page 28). The benefit starts accruing after the end of the Waiting Period and ends on the earliest of:

Voluntary TPD cover

Each voluntary unit of TPD cover provides $10,000 of cover to age 59 and then starts to reduce until cover is nil at age 70. Subject to approval by the Insurer, you can take out up to $5 million of TPD cover. The cost of voluntary units (see page 32) is based on your age, gender, and occupation category (see page 43).

Voluntary IP coverEach voluntary unit of IP cover provides $100 cover per month until age 70. You can change your Waiting Period to 30 days or 90 days at any time. If the change results in a decrease to your Waiting Period, your previous Waiting Period will apply for 30 days after your application to change is accepted. You can also decrease your Benefit Period where there is a shorter one available. Subject to approval by the Insurer, you can take out up to $30,000 per month of IP cover on top of your Default IP cover or increase your Benefit Period where there is a longer one available.

The maximum benefit payable is 77% of your Pre-Disability Income plus a super component of 12% of the monthly income benefit. So it’s important to ensure that you don’t apply for more cover than you need. The cost of voluntary units (see pages 35-40) is based on your age, gender and occupation category (see page 43).


The IP benefit is made up of an income component (monthly income benefit) and a super component and is paid monthly in arrears. The monthly income benefit provides cover up to 77% of your Pre-Disability Income. Bonuses, allowances, commissions and overtime are only included in your Pre-Disability Income if they are paid regularly. The monthly income benefit payable to you (less tax) will be paid directly into your bank account.

In addition, an amount equal to 12% of the monthly income benefit payable to you will be paid as super to your Rest Super account. Your superannuation component must be paid into your Rest Super account. If you close this account, the superannuation component of any IP benefit payable to you will end. In the event of claim, the maximum payable to you will be the lesser of:

a) 77% of your Pre-Disability Income plus super component of 12% of this amount

b) the amount you are insured for

c) Default IP Cover plus $30,000 per month Voluntary Cover.

Where b) or c) apply this includes the super component.

Here is an example of the calculation where cover is based on Pre-Disability Income:

Pre-Disability Income per month:

$1,000

Monthly income benefit = ($1,000 x 77%)

$770 (paid to you, before tax)

Super component = (Monthly income benefit x 12%)

$92.40 (paid to your Rest Super account)

Concurrent and recurrent disabilityIf you are Totally Disabled or Partially Disabled because of more than one injury or sickness, you will only be paid one benefit.

If you return to work in a full capacity and stop receiving benefit payments, and within 12 months become totally or partially disabled again from the same cause as your first claim, a new waiting period will not apply as long as your cover has not ceased. If your Benefit Period is limited to two or five years, your previous claim payments will be taken into account when determining a

new benefit period. If more than 12 months have passed, the waiting period will apply.

Claims IndexationTo try to keep your claim payments up to date with inflation, on the anniversary of your claim and every 12 months from then on, your Total Disability benefit will be indexed by the lesser of 3.5% and the annual change in the Consumer Price Index (CPI). If CPI is zero or negative, there will be no indexation that year. The anniversary of your claim is the date 12 months after the end of your Waiting Period.

Offsets The monthly income benefit is limited so that it and any other income payments as a result of your Total Disability are not more than 77% of your Pre-Disability Income from personal exertion (this cap is set at 100% for Partial Disability).

Therefore, if you are claiming an IP benefit and are receiving, or may be entitled to receive income benefits in connection with the injury or illness causing the Total Disability or Partial Disability from other sources, such as:

• sick leave or annual leave

• personal or other employer paid leave

• workers’ compensation, accident compensation, statutory compensation, pension, social security or similar scheme but not including Centrelink, Department of Veteran Affairs, or other Government benefits that are unrelated to personal exertion

• benefits from an insurance policy, including an income protection type policy, loan protection insurance policy, or similar policy, but not including a total and permanent disability payment

• any out of court settlement sum or award of money sum by a court, tribunal, arbitrator or government body

• an amount payable under the unwritten law or legislation in any other jurisdiction, including the Department of Veteran Affairs (or replacement or equivalent agency)

they may be offset against the income component of your IP benefit. However, the superannuation component of the benefit will continue to be paid and will not be subject to any offsets.

You will need to make sure that the Default IP cover we provide to you, or any additional cover you apply for, does not exceed 77% of your actual income. This is so that you don’t pay for cover you can’t claim on.

• when you are no longer totally or partially disabled

• the end of your Benefit Period if your Waiting Period ends prior to age 58

• the end of a two-year benefit period (or at age 70 if this occurs earlier), if your Waiting Period ends on or after age 58

• your death.


04 | Limits and exclusions to your cover

This section explains any limitations and exclusions that may apply to your cover and should be read carefully to understand their impact on your cover.

Exclusions

Exclusions are conditions under which a benefit will not be paid due to certain circumstances.

General exclusions

No Death, Terminal Illness, TPD or IP benefit will be payable if your claim directly arises from active service in the armed forces of any country or international organisation (other than the Australian Defence Force Reserve).

Limited Cover when Default Cover has started

If you have chosen Default Cover or have been provided with Default Cover automatically, and are not in Active Employment when your Default cover starts, your Default Cover will be Limited Cover until the earlier of:

• the date you have been in Active Employment for 60 consecutive days

• 24 months.

If your automatic Default Cover commenced more than 180 days after the date you started your current job, with an employer and you haven’t received mandatory employer contributions or ATO rollovers into your account totalling $6,000 or more, Default Cover will be Limited Cover until the earlier of:

• the date you receive mandatory employer contributions or ATO Rollovers totalling $6,000 or more

• 24 months.

The rules that apply to Default Cover will also apply to additional Default Cover including Active Employment.

Your Default Cover will also be Limited cover if at the date your Default Cover starts if you’re receiving, claiming or entitled to claim:

• a disability income benefit, terminal illness benefit or total and permanent disability benefit under this or any other insurance policy, or superannuation arrangement

• an income support benefit from any source including workers’ compensation benefits, statutory transport accident benefits and disability income benefits.

Death coverTotal and Permanent Disability cover Income Protection cover

There is no payment of voluntary Death benefits in respect to death by suicide within 13 months of the date cover commenced or increased.

There is no payment of voluntary TPD benefits for Total and Permanent Disability caused by intentional self-inflicted injury, whether or not sane at the time.

There is no payment of Income Protection benefits for:

• for Voluntary Cover, a disability due to intentional self-inflicted injury (whether illegal or not) or any such attempt whether or not sane at the time

• normal pregnancy or childbirth (see page 27 for definition).

Underwriting exclusions Where you apply for cover and are accepted as a result of the underwriting process (see page 13), the Insurer may accept your cover with exclusions. You will be advised in writing if underwriting exclusions apply to any cover you apply for.

Other exclusions on your cover


05 | Rest claims and rehabilitation

This section helps you understand our claims process and how Rest supports you in getting back to work with rehabilitation.

3. Trustee reviewRest’s Insurer will make a decision on your claim and provide this to the Rest Trustee to review.

4. Decision noticeYou will be notified of the outcome and if your claim is approved, benefits will be payable as long as you

meet a super annuation condition of release.

1. Submission of claim formIf you think you are eligible to make a claim, call us

and our specialist claim representatives will assist with your initial paperwork and submission to the Insurer.

2. Insurer assessment Rest’s Insurer will assess your claim and may

request more information from you to assist with the review of your claim.

Payment of insured benefits

We do our best to pay eligible members as quickly as possible. The timely payment of insured benefits depends on the Insurer receiving information from you, your employer(s) and medical practitioners. Any delay in receiving this information may result in the payment of benefits being delayed.

Rest’s claim assessment process

We are here to assist you at every stage of lodging your claim for a Rest insurance benefit. Our claims assessment process involves:

For more information about our claims process, eligibility, and instructions on how to submit a claim, visit rest.com.au/insurance-claims or call us on 1300 300 778.


http://rest.com.au/insurance-claims

Rest rehabilitation

We believe work is good for your general wellbeing. For those members who are eligible for an IP benefit, Rest and our Insurer will offer you the option for a rehabilitation program. The program is designed to support you during your recovery and helps you return to work.

What rehabilitation does Rest offer?

Rest will work with our Insurer and your employer to find ways to support you in returning to work and wellness. Using the expertise of our Insurer, Rest is able to offer you access to a range of specialists who can support your rehabilitation from sickness or injury, as well as providing you with access to vocational expertise to help you retrain into a new occupation.

Here are some recent examples of the rehabilitation programs offered to Rest members:

• a physical conditioning program to develop work capacity. This could be home based exercise or a physiotherapist or exercise physiologist developing an upgrading program

• a graded return to work program assisting members to return to their original occupation

• assistance with specialised ergonomic equipment to assist a return to work

• vocational counselling to identify suitable work options

• short courses, for example, MYOB, office courses and computer courses to develop new skills.

Do I have to do it?

Rehabilitation isn’t mandatory but it can provide some positive outcomes. The claims team can discuss these benefits with you.

Do I need to pay for it?

Rehabilitation is provided in addition to your monthly IP benefit, so you do not need to pay for the services provided by our Insurer and its partners.

How do I know if I am eligible?

During the initial claims process, our Insurer will discuss your rehabilitation options with you and whether you are a suitable candidate for rehabilitation.

Does it work?

We believe rehabilitation has many benefits for a member’s physical and mental wellbeing. Many of our Rest members have benefited from a rehabilitation program which has helped them return to work successfully.


06 | Frequently asked questionsQuestions about cover

Can I change my cover?Yes, your insurance cover is flexible. You can keep Death, TPD and IP cover, or choose the types of insurance cover that suits your needs. You can also increase your cover (sum insured) by applying for additional cover, decrease your cover by varying your Default Cover units down, and cancel your cover. You can change your insurance cover online through MemberAccess at rest.com.au or by calling us on 1300 300 778.

I cancelled my insurance cover, and realise now that I shouldn’t have, can I reinstate it?You can go to MemberAccess and apply for cover. Your application for cover may be subject to our underwriting process. See page 13 for more details.

What is the difference between Limited Cover and Default Cover?Limited Cover is a restriction imposed upon Default Cover which means that you are only allowed to claim for new sicknesses or injuries that have become apparent since your Default Cover most recently commenced.

What is the Active Employment condition?Many Rest members are employed on a part-time or casual basis and as such, Rest has negotiated with its Insurer to provide cover to members who work part time or varying hours. However, this cover requires you to be capable of working in your Usual Occupation and hours without being restricted by sickness or injury.

Questions about Claims

Where can I find more information about making a claim?

You can find out more information about making a claim by visiting rest.com.au/insurance-claims

What amount will I receive if my claim is approved?If you’re eligible for a claim, the benefit applicable is determined based on the Incident Date, not when a claim is submitted or accepted when benefits may have changed.

How long will it take for my claim to be approved?We work together with our Insurer to assess and pay approved claims as quickly as possible, however, there are some factors that can affect this process. For more information about these factors and our claims requirements, visit rest.com.au/insurance-claims

Why do I have to wait to be paid a benefit to replace my income?A Waiting Period is a part of all IP policies. It is the amount of time you need to wait before an insurance policy can start paying out a benefit and may be longer or shorter under different super fund rules.Rest has chosen a 60 day Waiting Period for our Default IP to keep the insurance costs down and because most of our members have access to some savings and sick or annual leave to support themselves immediately after stopping work.

I can’t do my job but I am not eligible for a TPD claim – why is this?

The main part of the TPD definition is based on you being unlikely to do any occupation for which you are reasonably suited again, however, there are cases where in the opinion of the Insurer, you could work in another reasonably suitable job. In determining the suitability of another job, the Insurer will consider the skills you have acquired through education, training and experience. Please refer to page 28 for the full TPD definition.


https://rest.com.au/member

rest.com.au/insurance-claims

https://rest.com.au/insurance-claims

Important information about your insurance contractA member’s eligibility for insurance cover and the terms and conditions that apply to cover are set out in Rest’s contract with its Insurer. Where Rest and/or its Insurer accepts insurance costs for a type or level of cover for which a member is ineligible, the relevant insurance premiums will be refunded and no insurance cover will apply for any period.

This document does not contain full details of the contract between Rest and our Insurer and only offers a general guide to the insurance offered by Rest. The insurance is provided under a contract between the Trustee and our Insurer. If there is any conflict between this document and the insurance contract with our Insurer, the insurance contract will prevail.

Insurance costs, benefit levels and conditions of cover are not guaranteed and may be varied from time to time without notice. There may be circumstances not in our control, for example the outbreak of war, where costs may increase. We would provide notice to you in this situation. When Rest confirms your insurance, please check the amount and type of insurance cover we have recorded for you. If you believe it is less than you expected, you must contact us immediately or the cover recorded will be the cover assessed should you make a claim. This material is current as at 1 April 2020 but may be subject to change.

This material has been prepared without taking into account your objectives, financial situation or needs. Before making a decision based on this material, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs.

You should read the Product Disclosure Statement for Rest Super available at rest.com.au/pds before making any decision about whether to acquire or continue investing in the product. When you become a member of Rest Super you join the Retail Employees Superannuation Trust ABN 62 653 671 394. Rest Super is issued by the Trustee, Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 240003.

All services are provided in Rest’s capacity as Trustee. The Trustee has no relationships or associations with any other product issuer that might reasonably be expected to influence us in the provision of the advice. Any advice is provided by Rest’s employees who are paid a salary and may receive a performance related bonus. No commissions or fees are paid for the financial product advice provided, either to representatives or to third parties.

Our premium adjustment arrangementsRest operates a Premium Adjustment Model arrangement with its life insurer (TAL). This arrangement helps to reduce the risk to the insurer due to volatility in claims received and helps Rest negotiate lower overall premiums on your behalf.

Premiums paid to the insurer increase or decrease depending on the amount of claims the previous year(s). If there is a reduction in the premiums paid to the insurer the amount will be credited to Rest’s Insurance Reserve.

This reserve is used for the benefit of insured members of Rest through reductions in insurance premiums and meeting insurance administration premiums.

In the case of premium increases to the insurer Rest will attempt to limit increases in premiums to members through the Insurance Reserve.

Cooling-off period for underwritten cover

Where you apply for insurance cover online or by completing the ‘Application for insurance Rest Super’ form, and the Insurer accepts your application, we will write to you to confirm the type, level, cost of cover and any special acceptance terms. You will have 14 days from the date of our letter to cancel your cover and not pay any insurance premiums.

Any cancellation requests received after 14 days from the date of our confirmation letter will be effective from the date Rest receives your request.

07 | Important information about your insurance

This section outlines the important terms and conditions of your insurance, our privacy statements and explains some of the terms used in this guide.


https://rest.com.au/member/tools/product-disclosure

Rest Privacy Statement

Your privacy is important to Rest. Our privacy policy sets out how your personal information is managed by us, and is available at rest.com.au

Insurer Privacy Statement

Your privacy is important to our Insurer. The Insurer’s privacy policy sets out how your personal information is managed by them and is available at tal.com.au/privacy-policy

Concerns and complaints

If you need us to do better

We’re committed to acting with honesty and integrity every time. If we don’t meet your expectations, we want to know. Our complaint management process means your concerns will be treated seriously and addressed fairly and promptly.

Have concerns? We’re here to helpTalk to us first if you have a concern. We’ll work with you to try to solve your problem straight away.

If you’re not happy with how we handle things, or we can’t resolve your concern quickly, we’ll recognise your matter as a formal complaint. Our complaints team will independently review your matter fairly and objectively.

How do I make a complaint?You can also make a formal complaint by contacting us. We’ll acknowledge your complaint within two days.

[email protected] with the subject line ‘Complaint’

1300 300 778 between 8am – 10pm AEST Monday to Friday

via our Facebook page or Rest App messaging

LiveChat at rest.com.au/ contact-us

Trustee Services Officer, Rest, PO Box 350 Parramatta NSW 2124

How long will we take to respond to your complaint?

We’ll aim to resolve your complaint within 90 days. Sometimes it might not be possible to completely resolve your complaint in that time. If it looks like we can’t resolve it in this time, we’ll let you know, and tell you the reasons why it’s taking a little longer.

No matter how long it takes us to make a decision about your complaint, we’ll always let you know the reasons for that decision.

If you’re not satisfied with how we’re handling your complaint, or you don’t agree with our decision, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).

Who is the Australian Financial Complaints Authority?

AFCA is a free, independent dispute resolution service. It will try to resolve any differences or make a binding ruling if necessary. There may be time limits depending on the type of complaint, so it’s important to contact AFCA promptly.

[email protected]

1800 931 678

afca.org.au

You can find out more about our complaint management process and how to lodge a complaint at rest.com.au/complaint



https://www.tal.com.au/privacy-policy

mailto:Contact%40rest.com.au?subject=

http://rest.com.au/contact-us

http://rest.com.au/contact-us

mailto:info%40afca.org.au?subject=

https://afca.org.au

https://rest.com.au/contact-us/lodge-a-complaint

Explanation (technical meanings) of the terms in this guideActive Employment Means you:a. are employed by a Rest

employer on a casual, temporary or permanent basis to perform identifiable duties;

b. are attending that employment or are on fully paid leave except leave caused by sickness or injury; and

c. in the Insurer’s opinion you are not restricted by sickness or injury from being capable of performing your Usual Occupation. Usual Occupation means:– role you are performing for the employer; or– if there has been a change to your role due to illness or injury within the 12 months before the date Default Cover commences with the result that your position description changed or your duties and/or hours were reduced in that period, the role you were performing for the employer before such illness or injury occurred.

Gainful Employment (for TPD) means you are employed for gain or reward in any business, trade, profession or employment for at least 10 hours per week.

Gainful Employment means you are being paid for work under an agreement for at least 10 hours a week and you receive money for your work.

Important Duty/Important Duties means theduty or duties which:• are normally required for the

purposes of an occupation

• do not include exceptional duties which are not normally required to perform the duties of that occupation, trade or profession

• cannot be reasonably omitted, modified or substituted by you or, where applicable, your employer; and

• are essential to producing an income.

Incident Date• For a Death benefit, the

Incident Date is your date of death.

• For a Terminal Illness benefit, the Incident Date is the date that a second Medical

Practitioner certifies you as Terminally Ill.

• For a TPD benefit, the Incident Date means, for Part 1 of the definition of TPD, the first day of the three month period referred to in that Part and otherwise, the date on which the member satisfies the definition in Part 2 or 3, as applicable (see page 28 for the definition of TPD) or otherwise agreed.

• For an Income Protection benefit, either a Total Disability or Partial Disability benefit, the Incident Date is the first day of the Waiting Period.

Insurer Rest’s Insurer is TAL Life Limited, ABN 70 050 109 450, AFSL 237848 (TAL).

Limited Cover means you are only covered for claims arising from a sickness that became apparent, or an injury that occurred, on or after the date your cover most recently commenced.

Limited Cover means you are only covered for new sickness or injuries and won’t be able to claim for anything that existed before your cover started.

Mandatory employer contribution means a superannuation contribution (required by law or industrial award) to be paid by an employer into your super account.

Medical Practitioner means a legally qualified and registered medical practitioner in the place in which he or she practises. If this is outside Australia or New Zealand, the Medical Practitioner must have equivalent qualifications.It does not include:(a) you; (b) your employer; or (c) a member of your or your employer’s immediate family or business partner.

Pre-Disability Income means:(a) if you have not become wholly self-employed or unemployed during the 12 months prior to the Incident Date:

the total monthly remuneration (excluding superannuation where applicable, but only to the extent that it is 10% or less of your

remuneration) earned, or that would have been earned had you not been on employer approved leave, by you before income tax from all regular occupations, including:

(i) your monthly salary immediately preceding the Incident Date in your employment on a permanent basis or engagement as a contractor immediately prior to the Incident Date, including the total of ‘A’, ‘B’ (averaged over the previous three years, or such lesser period as you have been entitled to such payments) and ‘C’ (averaged over he previous year, or such lesser period as you have been entitled to such payments) below;

(ii) the monthly salary earned by you in your employment on a casual basis immediately prior to the Incident Date, which is to be averaged over the lesser of:

(A) 12 months preceding the Incident Date; and

(B) the period since they last commenced employment, including the total of ‘A’, ‘B’ (averaged over the previous three years, or such lesser period as you have been entitled to such payments) and ‘C’ (averaged over the previous year, or such lesser period as you have been entitled to such payments) below; and

(iii) any income derived by you from directly or indirectly owning all or part of a business (other than in the form of owning shares in a publicly listed company) in which you perform a regular occupation, which is calculated as:

(A) to the extent that the amount is not captured by points (A) and (B), the annual value of remuneration (excluding superannuation where applicable but only to the extent that it is 10% or less of your remuneration) paid by the business because of your personal exertion; and your share of the profits of the business over the 12 months immediately preceding the Incident Date, calculated as your share of the total amount earned by

08 | Definitions


that business over that 12 months, less your share of business expenses, but before the deduction of income tax, for that business for the same period, paid by the business because of your personal exertion, both determined in line with the usual division of profits and/or losses of the business between you and any co-owners of the business (annualised if the you has directly owned all or part of the business for less than 12 months), divided by 12; or

(b) where you have become wholly self-employed or unemployed during the 12 months prior to the Incident Date:

the total remuneration (excluding superannuation where applicable, but only to the extent that it is 10% or less of your remuneration) earned, or that would have been earned had you not been on employer-approved leave, by you before income tax from all regular occupations over the 12 months immediately preceding the Incident Date, including:

(i) the income earned by you in your employment on a permanent basis or engagement as a contractor including the total of ‘A’, ‘B’ and ‘C’ below;

(ii) the salary earned by you in your employment on a casual basis including the total of ‘A’, ‘B’ and ‘C’ below; and

(iii) any income derived by the you from directly or indirectly owning all or part of a business (other than in the form of owning shares in a publicly listed company) in which you perform a regular occupation, which is calculated as:

(A) to the extent that the amount is not captured by points (A) and (B), the annual value of remuneration (excluding superannuation where applicable but only to the extent that it is 10% or less of your remuneration) paid by the business because of your personal exertion; and

(B) your share of the profits of the business over the 12 months immediately preceding the Incident Date, calculated as your share of the total amount earned by that business over that 12 months, less your share of business expenses, but before the deduction of income tax,

for that business for the same period, paid by the business because of your personal exertion, both determined in line with the usual division of profits and/or losses of the business between you and any co-owners of the business, divided by 12, except that performance-related annual bonuses and commissions must be averaged over the three years preceding the Incident Date,

where: ‘A’ is the value of fringe benefits (if any) that you received from an employer through salary sacrifice, and will benefit from for at least six months after the date that the salary, which the Insured Member sacrificed for the fringe benefit, would have been paid by the Insured Member’s employer;

‘B’ is performance related annual bonuses and commissions received from an employer; and

‘C’ is overtime payments and shift allowances.

Pregnancy or Childbirth or Assisted Fertilisation Techniques means normal and uncomplicated pregnancy or childbirth or participation in assisted fertilisation techniques. Multiple pregnancy, caesarean birth, threatened miscarriage, and normal discomforts of pregnancy such as morning sickness, backache, varicose veins, ankle swelling and bladder problems are not considered abnormal or complications of pregnancy.

Supported Return to Work Period means:

• for a 60 day Waiting Period, up to 10 consecutive days; and

• for a 90 day Waiting Period, up to 15 consecutive days.

Terminal Illness/Terminally Ill (for Death) Means you are considered, in our Insurer’s opinion, to suffer from an illness, or have incurred an injury, that is likely to result in your death within twenty-four (24) months from the date of certification of the terminal illness by two (2) Medical Practitioners (with one being a specialist in that particular medical field) acceptable to our Insurer and the certification period has not ended.

Total Disability (for IP) Total Disability means that in the Insurer’s opinion:

Where you have a 5 year Benefit Period, as a sole and direct result of injury or illness you:

• are unable to perform any of the Important Duties of your Usual Occupation

• are regularly attending and under the ongoing and appropriate care of a Medical Practitioner, including complying with the regular advice and treatment given by that Medical Practitioner; and

• are not working in any occupation, whether or not for reward.

Where you have a ‘To Age 60’ Benefit Period, solely and directly as a result of injury or illness you:

• for the first two years of the Benefit Period are unable to perform any of the Important Duties of your Usual Occupation

• after expiry of the first two years and for the balance of the Benefit Period, are unable to perform any of the Important Duties of your Usual Occupation and any other occupation for which you are reasonably able to perform by reason of education, training or experience. The skills, education, training and experience you acquire through rehabilitation will be considered in determining any reasonably suited occupation

• are regularly attending and under the ongoing and appropriate care of a Medical Practitioner, including complying with the regular advice and treatment given by that Medical Practitioner; and

• are not working in any occupation (whether or not for reward).

You will be considered to be able to perform an Important Duty of your Usual Occupation if you refuse to accept:

any reasonable omission, modification or substitution of duties; or

the use of any appropriate assistive aids, including those available to them through our rehabilitation service, that would otherwise enable you to perform one or more of those duties.


TPD means disability where the Insurer is satisfied on medical or other evidence that you:

Part 1 - Unlikely to do a suited occupation ever again

Part 2 - Loss of limbs and/or sight

Part 3 - Unable to look after yourself ever again

a. have been absent from employment for three consecutive months because of sickness or injury; and

b. are so disabled at the start of those three months and continuously since that time, that you are unlikely to ever engage in any reasonably suitable occupation.

In determining whether an occupation is reasonably suitable for you, the Insurer considers the skills you have acquired through education, training and experience.

OR

suffer the total and permanent loss of the use of:

a. two hands*,

b. two feet*,

c. one hand* and one foot*,

d. one hand* and the sight in one eye,

e. the sight in both eyes, or

f. one foot* and the sight in one eye.

* hand means the whole hand below the wrist and foot means the whole foot below the ankle.

OR

have become so disabled by bodily injury or sickness that you will never be able to perform at least two of the following activities of daily living:

i. Dressing – the ability to put on and take off clothing without assistance*

ii. Bathing – the ability to wash or shower without assistance*

iii. Toileting – the ability to use the toilet including getting on and off without assistance*

iv. Mobility – the ability to get in and out of bed and a chair without assistance*

v. Feeding – the ability to get food from a plate into the mouth without assistance*.

*assistance means with the help of another person.

Where you:

a. have been in Gainful Employment at any time during the 13 months prior to the Incident Date, you are considered TPD if you meet any one of Part 1, Part 2 or Part 3.

b. have not been in Gainful Employment at any time during the 13 months prior to the Incident Date, or have not returned to work after a period of approved leave without pay or parental leave, you are considered TPD if you meet either of Part 2 or Part 3.

c. In the case of Part 2 or Part 3 the Insurer must also be reasonably satisfied that your ill-health (whether physical or mental) makes it unlikely that you will engage in Gainful Employment for which you are reasonably qualified by education, training or experience.

For the purposes of TPD cover, the Incident Date means, for Part 1, the first day of the three-month period referred to in that Part and otherwise, the date on which the member satisfies the definition in Part 2 or 3, as applicable.

Total and Permanent Disability

Partial Disability (for IP) If you are partially disabled beyond the end of the Waiting Period and have been totally disabled for at least 7 out of 12 consecutive days during the Waiting Period, a Partial Disability benefit will be payable. This benefit will be a proportion of the full monthly benefit which will consider any income you have earned in the period, as well as offsets as described on page 19.

Partially disabled means that due to the sickness or injury that caused Total Disability, you:

a. are unable to perform one or more Important Duties of your Usual Occupation

b. are capable of working, whether or not for rewardc. are earning a monthly income that is less than his or her

Pre-Disability Incomed. remain under the regular care, attendance and following

the advice of a registered medical practitioner in relation to that sickness or injury.

How a partial disability benefit is calculatedA partial disability benefit is calculated (A-B) /A X CThe amount of the Partial Disability Benefit is calculated as follows where:A is your Pre-Disability Income B is your actual income from work during the month of Partial DisabilityC is each of the income and superannuation components of the Monthly Benefit under Total Disability


Waiting Period (for IP) means the period that must expire after you become Totally Disabled before payment of a Total Disability or Partial Disability benefit under this Policy commences.

An Other Income Protection Policy means an income protection policy under which the Insured Member is insured or has insurance cover apart from this Policy.

a) where you do not have an Other Income Protection Policy the Waiting Period begins on the Incident Date and ends at the conclusion of 30, 60 or 90 days as applicable.

During this period you must not return to performing all of the Important Duties of your Usual Occupation for more than the Supported Return to Work Period. Any days in which you return to performing all of the Important Duties of your Usual Occupation (during any Supported Return to Work Period) will be added to the Waiting Period. If you return to performing all of the Important Duties of your Usual Occupation for more than the Supported Return to Work Period the Waiting Period will start again.

(b) If you have an Other Income Protection Policy the Waiting Period is the longer of:

(1) the period referred to in paragraph (a) above; and

(2) the last day in respect of which benefits are payable under the Other Income Protection Policy in respect of the relevant illness or injury, subject to you notifying Rest of these circumstances in writing prior to the end of the period referred to in paragraph (a) and continuing to be Totally Disabled or Partially Disabled for the entire benefit period of the Other Income Protection Policy.

Case Study – meets TPD definition

Peter works for a mining company and has been driving a crane full time for the past 30 years – ever since he left school at the age of 16. Eight months ago, Peter injured his back when getting out of the crane and ruptured some discs in his spine. He has had an operation to repair the damage, but now has pain, restricted movement and is not capable of driving a crane or doing other manual jobs any more. His doctor says he has a “30% whole person impairment” but could do an office job if he was given some training to develop his computer skills. Does Peter meet the definition?

YES - Peter meets part 1 of the TPD definition because he has been absent from his job longer than three months and is unlikely to be able to return to a job suited to his education, training and experience (that is, he would need to re-train in order to work again).

Case Study – does not meet TPD definition

Liz is 50 and was working casually as a traffic controller at the zebra crossing of her local school for the last two years for less than 10 hours per week. However, during that time, she has experienced chronic back pain from a bulging disc from a prior injury. It is unlikely Liz will work again due to her injuries. Does Liz meet the TPD definition?

NO – In order to meet Part 1 of the definition, Liz must be in Gainful Employment (working at least 10 hours per week at any time during the 13 months before making a claim). In the case study we can see she has worked less than 10 hours per week for the last 2 years. Since this is not considered to be Gainful Employment, she must meet either Part 2 or 3 of the definition. She does not meet part 2 as she has not lost any limbs or sight and she does not meet part 3 as she can still do activities of daily living. That means Liz does not meet the definition of TPD.

While the Insurer assesses your eligibility to receive a TPD benefit and make the decision on your claim, Rest is responsible for the assessment of the early release of your TPD benefit and your account balance from your super.

The Waiting Period is the period of time you are unable to work due to sickness or injury before a claim can be made to replace a portion of your income.


This section looks at the costs of your Default Cover and Voluntary Cover, and how these costs are deducted from your account

What is the cost of my cover and how do I pay for it?

Your insurance costs will depend on the type of cover you have (Death, TPD or IP) and whether you have Default or Voluntary Cover:

• Default Cover is priced based on your age and the level of Default Cover you have

• Voluntary Cover is priced based on your age, gender and occupation.

Paying insurance costs

Insurance costs are deducted from your account balance on the last Friday of each month. If your account balance isn’t enough to cover your insurance costs, your cover will end without notice. It’s your responsibility to ensure your account always has enough to pay the required insurance costs. If your cover ends, you will need to provide satisfactory evidence of your health to the Insurer before you can take up insurance again in the future.

You can keep up to date with your account balance by checking it online in MemberAccess at rest.com.au

Example – calculating the cost of your cover

Jess is 26, has recently joined Rest Super and received Default Death cover. Below is a calculation of the cost of her Default Death cover (see Table 1 on the next page):

Age last birthday = 26

Default Cover = $166,800 = 3 units of Death Cover

Cost is $0.34 per week per unit, so the cost for 3 units = $0.34 x 3 = $1.02 per week

Therefore Jess’s Death cover costs $1.02 per week or $53.04 per year.

09 | The cost of your insurance

How much cover do I need?

For members, our online insurance needs analysis can help - it takes around 10 minutes to complete. Visit rest.com.au/advice to get started.




Table 1 - Death cover and costs - from 1 April 2020

Default Cover Voluntary Cover

Age Last Birthday

Total $ cover

Number of units

Weekly $ premium

Value of 1 unit

Weekly $ premium (1 unit)

Cover per unit

($)

Cost per unit per week ($) by gender and occupation category (see page 43)Male Female

Prof WC LM BC HM Prof WC LM BC HM15 8,600 1 0.03 8,600 0.03 10,000 0.07 0.07 0.07 0.18 0.23 0.07 0.07 0.07 0.11 0.1316 8,600 1 0.03 8,600 0.03 10,000 0.07 0.07 0.07 0.18 0.23 0.07 0.07 0.07 0.11 0.1317 8,600 1 0.03 8,600 0.03 10,000 0.07 0.07 0.07 0.18 0.23 0.07 0.07 0.07 0.11 0.1318 14,300 1 0.05 14,300 0.05 10,000 0.12 0.12 0.12 0.18 0.23 0.07 0.07 0.09 0.11 0.1319 19,900 1 0.08 19,900 0.08 10,000 0.09 0.09 0.09 0.18 0.23 0.07 0.07 0.09 0.11 0.1320 50,000 2 0.20 25,000 0.10 10,000 0.07 0.07 0.07 0.18 0.23 0.07 0.07 0.07 0.11 0.1321 56,800 2 0.30 28,400 0.15 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1322 59,600 2 0.32 29,800 0.16 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1323 65,000 2 0.38 32,500 0.19 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1324 70,600 2 0.42 35,300 0.21 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1325 101,200 2 0.58 50,600 0.29 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1326 166,800 3 1.02 55,600 0.34 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1327 180,000 3 1.23 60,000 0.41 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1328 185,400 3 1.35 61,800 0.45 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1329 191,100 3 1.50 63,700 0.50 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1330 267,600 4 2.36 66,900 0.59 10,000 0.11 0.12 0.12 0.15 0.21 0.07 0.07 0.07 0.10 0.1231 275,600 4 2.68 68,900 0.67 10,000 0.11 0.12 0.12 0.15 0.21 0.07 0.07 0.07 0.10 0.1232 283,200 4 2.92 70,800 0.73 10,000 0.11 0.12 0.12 0.15 0.21 0.07 0.07 0.07 0.10 0.1233 290,800 4 3.32 72,700 0.83 10,000 0.11 0.12 0.12 0.15 0.21 0.07 0.07 0.07 0.10 0.1234 298,400 4 3.32 74,600 0.83 10,000 0.11 0.12 0.12 0.15 0.21 0.07 0.07 0.07 0.10 0.1235 374,000 5 5.45 74,800 1.09 10,000 0.11 0.12 0.12 0.15 0.21 0.07 0.07 0.07 0.10 0.1236 376,000 5 6.05 75,200 1.21 10,000 0.12 0.12 0.13 0.16 0.21 0.07 0.07 0.09 0.11 0.1337 381,000 5 6.75 76,200 1.35 10,000 0.12 0.13 0.14 0.18 0.23 0.07 0.07 0.09 0.11 0.1338 386,000 5 6.75 77,200 1.35 10,000 0.13 0.14 0.16 0.19 0.26 0.07 0.09 0.10 0.12 0.1439 391,500 5 6.75 78,300 1.35 10,000 0.14 0.15 0.18 0.21 0.28 0.09 0.10 0.11 0.12 0.1640 396,500 5 6.75 79,300 1.35 10,000 0.14 0.16 0.18 0.23 0.29 0.10 0.11 0.12 0.13 0.1841 391,500 5 6.75 78,300 1.35 10,000 0.18 0.18 0.21 0.26 0.34 0.11 0.12 0.12 0.15 0.1942 387,500 5 6.75 77,500 1.35 10,000 0.18 0.19 0.21 0.27 0.35 0.12 0.12 0.13 0.16 0.2143 382,000 5 6.75 76,400 1.35 10,000 0.19 0.21 0.24 0.29 0.37 0.12 0.13 0.14 0.18 0.2344 377,000 5 6.75 75,400 1.35 10,000 0.21 0.24 0.27 0.32 0.42 0.12 0.14 0.15 0.18 0.2545 368,500 5 9.10 73,700 1.82 10,000 0.24 0.27 0.29 0.36 0.46 0.14 0.15 0.18 0.21 0.2846 365,000 5 9.10 73,000 1.82 10,000 0.26 0.29 0.32 0.39 0.51 0.15 0.16 0.18 0.23 0.2947 359,000 5 9.10 71,800 1.82 10,000 0.28 0.32 0.35 0.42 0.55 0.16 0.18 0.21 0.25 0.3448 353,000 5 9.10 70,600 1.82 10,000 0.32 0.35 0.39 0.48 0.62 0.19 0.21 0.24 0.29 0.3749 348,000 5 9.10 69,600 1.82 10,000 0.35 0.39 0.42 0.53 0.68 0.21 0.24 0.26 0.32 0.4050 316,500 5 9.10 63,300 1.82 10,000 0.37 0.43 0.48 0.57 0.76 0.23 0.25 0.28 0.35 0.4451 307,500 5 9.10 61,500 1.82 10,000 0.43 0.48 0.53 0.65 0.83 0.25 0.28 0.32 0.37 0.4952 299,000 5 9.10 59,800 1.82 10,000 0.48 0.53 0.57 0.71 0.93 0.29 0.32 0.35 0.42 0.5653 281,500 5 9.10 56,300 1.82 10,000 0.53 0.58 0.64 0.80 1.03 0.32 0.35 0.37 0.46 0.6054 264,000 5 9.10 52,800 1.82 10,000 0.60 0.67 0.74 0.90 1.17 0.35 0.39 0.43 0.53 0.6855 222,000 5 9.10 44,400 1.82 10,000 0.68 0.76 0.82 1.01 1.31 0.39 0.43 0.49 0.58 0.7656 198,000 5 9.10 39,600 1.82 10,000 0.74 0.81 0.90 1.10 1.44 0.43 0.49 0.53 0.65 0.8557 174,000 5 9.10 34,800 1.82 10,000 0.82 0.92 1.01 1.24 1.60 0.49 0.54 0.58 0.72 0.9458 135,500 5 9.10 27,100 1.82 10,000 0.89 0.99 1.09 1.34 1.73 0.53 0.58 0.64 0.80 1.0359 94,000 5 9.10 18,800 1.82 10,000 0.99 1.09 1.21 1.49 1.93 0.57 0.64 0.71 0.87 1.1260 68,500 5 4.70 13,700 0.94 10,000 1.09 1.22 1.33 1.64 2.13 0.64 0.71 0.79 0.97 1.2661 35,000 5 4.25 7,000 0.85 10,000 1.21 1.34 1.48 1.80 2.34 0.71 0.80 0.87 1.06 1.3862 18,000 5 2.45 3,600 0.49 10,000 1.33 1.48 1.63 1.98 2.59 0.78 0.87 0.95 1.17 1.5063 18,000 5 2.60 3,600 0.52 10,000 1.47 1.63 1.79 2.19 2.85 0.85 0.96 1.05 1.29 1.6864 18,000 5 2.95 3,600 0.59 10,000 1.62 1.79 1.98 2.42 3.15 0.95 1.06 1.17 1.44 1.8665 18,000 5 3.35 3,600 0.67 10,000 1.79 2.00 2.19 2.69 3.50 1.06 1.18 1.29 1.59 2.0766 18,000 5 3.70 3,600 0.74 10,000 2.00 2.21 2.44 3.01 3.89 1.18 1.31 1.45 1.76 2.2967 18,000 5 3.75 3,600 0.75 10,000 2.21 2.45 2.70 3.33 4.30 1.29 1.45 1.59 1.96 2.5468 18,000 5 3.75 3,600 0.75 10,000 2.45 2.73 3.01 3.68 4.78 1.45 1.61 1.76 2.17 2.8169 18,000 5 3.75 3,600 0.75 10,000 2.73 3.04 3.34 4.09 5.31 1.61 1.79 1.96 2.41 3.11


Default Cover Voluntary Cover

Age Last Birthday

Total $ cover

(2 units)

Weekly $ premium (2 units)

Value of 1 unit ($)


TPD unit Cover


Prof WC LM BC HM Prof WC LM BC HM15 17,200 0.02 8,600 0.01 10,000 0.01 0.01 0.01 0.06 0.13 0.01 0.01 0.01 0.06 0.1116 17,200 0.02 8,600 0.01 10,000 0.01 0.01 0.01 0.06 0.13 0.01 0.01 0.01 0.06 0.1117 17,200 0.02 8,600 0.01 10,000 0.01 0.01 0.01 0.06 0.13 0.01 0.01 0.01 0.06 0.1118 28,600 0.04 14,300 0.02 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1119 28,600 0.06 14,300 0.03 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1120 28,600 0.06 14,300 0.03 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1121 28,600 0.06 14,300 0.03 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1122 28,600 0.06 14,300 0.03 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1123 28,600 0.08 14,300 0.04 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1124 28,600 0.08 14,300 0.04 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.03 0.06 0.1125 28,600 0.10 14,300 0.05 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.04 0.06 0.1126 28,600 0.10 14,300 0.05 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.04 0.06 0.1127 28,600 0.10 14,300 0.05 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.04 0.06 0.1128 28,600 0.12 14,300 0.06 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.04 0.06 0.1129 28,600 0.14 14,300 0.07 10,000 0.01 0.01 0.03 0.06 0.13 0.01 0.03 0.04 0.06 0.1130 28,600 0.16 14,300 0.08 10,000 0.03 0.04 0.06 0.10 0.19 0.03 0.04 0.04 0.07 0.1331 28,600 0.22 14,300 0.11 10,000 0.03 0.04 0.06 0.10 0.19 0.04 0.04 0.06 0.09 0.1632 28,600 0.28 14,300 0.14 10,000 0.04 0.04 0.07 0.11 0.22 0.04 0.04 0.06 0.09 0.1633 28,600 0.34 14,300 0.17 10,000 0.04 0.06 0.09 0.14 0.25 0.04 0.04 0.07 0.11 0.1834 28,600 0.34 14,300 0.17 10,000 0.06 0.07 0.10 0.16 0.27 0.04 0.06 0.09 0.12 0.2035 28,600 0.54 14,300 0.27 10,000 0.07 0.09 0.11 0.17 0.30 0.06 0.07 0.10 0.13 0.2436 28,600 0.66 14,300 0.33 10,000 0.07 0.10 0.12 0.19 0.33 0.06 0.07 0.10 0.14 0.2437 28,600 0.74 14,300 0.37 10,000 0.10 0.11 0.14 0.22 0.39 0.07 0.09 0.11 0.16 0.2638 28,600 0.82 14,300 0.41 10,000 0.10 0.12 0.16 0.24 0.42 0.09 0.10 0.12 0.18 0.3039 28,600 0.82 14,300 0.41 10,000 0.12 0.13 0.18 0.27 0.48 0.09 0.11 0.13 0.19 0.3340 28,600 0.82 14,300 0.41 10,000 0.13 0.16 0.20 0.30 0.53 0.10 0.11 0.14 0.22 0.3741 28,600 0.82 14,300 0.41 10,000 0.12 0.14 0.19 0.30 0.53 0.10 0.11 0.14 0.22 0.3742 28,600 0.82 14,300 0.41 10,000 0.16 0.18 0.24 0.36 0.62 0.11 0.12 0.16 0.24 0.4043 28,600 0.82 14,300 0.41 10,000 0.18 0.22 0.27 0.40 0.71 0.12 0.14 0.19 0.27 0.4644 28,600 0.82 14,300 0.41 10,000 0.19 0.23 0.30 0.45 0.76 0.14 0.17 0.22 0.31 0.5345 28,600 1.32 14,300 0.66 10,000 0.23 0.26 0.35 0.52 0.88 0.17 0.19 0.25 0.37 0.6246 28,600 1.42 14,300 0.71 10,000 0.25 0.30 0.39 0.58 0.99 0.19 0.23 0.29 0.42 0.7147 28,600 1.54 14,300 0.77 10,000 0.30 0.35 0.46 0.66 1.12 0.22 0.25 0.31 0.46 0.7648 28,600 1.66 14,300 0.83 10,000 0.35 0.40 0.53 0.76 1.30 0.24 0.27 0.36 0.52 0.8849 28,600 1.76 14,300 0.88 10,000 0.39 0.46 0.60 0.88 1.48 0.29 0.33 0.42 0.61 1.0250 28,600 1.84 14,300 0.92 10,000 0.45 0.53 0.67 0.98 1.66 0.32 0.39 0.48 0.69 1.1651 28,600 1.96 14,300 0.98 10,000 0.52 0.60 0.78 1.12 1.90 0.37 0.43 0.55 0.79 1.3152 28,600 2.10 14,300 1.05 10,000 0.59 0.68 0.88 1.28 2.15 0.42 0.48 0.61 0.88 1.4753 28,600 2.12 14,300 1.06 10,000 0.67 0.79 1.01 1.46 2.45 0.49 0.56 0.72 1.02 1.7054 28,600 2.12 14,300 1.06 10,000 0.78 0.91 1.16 1.67 2.82 0.55 0.65 0.82 1.17 1.9355 28,600 2.12 14,300 1.06 10,000 0.86 1.02 1.30 1.87 3.15 0.62 0.73 0.92 1.31 2.1956 28,600 2.12 14,300 1.06 10,000 0.99 1.16 1.48 2.13 3.57 0.69 0.81 1.02 1.47 2.4257 28,600 2.12 14,300 1.06 10,000 1.10 1.29 1.65 2.36 3.98 0.79 0.91 1.16 1.65 2.7458 28,600 2.12 14,300 1.06 10,000 1.23 1.44 1.84 2.64 4.43 0.88 1.02 1.29 1.83 3.0259 28,600 2.12 14,300 1.06 10,000 1.37 1.59 2.03 2.91 4.88 0.97 1.14 1.42 2.03 3.3660 23,000 1.54 11,500 0.77 8,000 1.16 1.37 1.77 2.58 4.41 0.84 0.98 1.25 1.80 3.0461 11,600 1.54 5,800 0.77 6,000 0.88 1.05 1.41 2.12 3.73 0.66 0.78 1.02 1.51 2.6162 6,200 1.04 3,100 0.52 4,000 0.53 0.67 0.97 1.53 2.89 0.46 0.55 0.76 1.16 2.1063 6,200 1.08 3,100 0.54 2,000 0.12 0.19 0.40 0.80 1.83 0.19 0.25 0.40 0.69 1.4164 6,200 1.08 3,100 0.54 2,000 0.18 0.26 0.53 0.98 2.16 0.48 0.59 0.81 1.27 2.3565 6,200 1.10 3,100 0.55 2,000 0.31 0.42 0.72 1.28 2.69 0.55 0.66 0.92 1.44 2.6466 6,200 1.10 3,100 0.55 2,000 0.46 0.59 0.95 1.64 3.31 0.62 0.75 1.04 1.61 2.9767 6,200 1.10 3,100 0.55 2,000 0.63 0.80 1.23 2.04 4.03 0.71 0.85 1.17 1.81 3.3268 6,200 1.10 3,100 0.55 2,000 0.79 0.98 1.48 2.42 4.73 0.79 0.95 1.33 2.04 3.7369 6,200 1.12 3,100 0.56 2,000 0.97 1.20 1.77 2.87 5.50 0.89 1.09 1.50 2.29 4.18

Table 2 - TPD cover and costs - from 1 April 2020


Table 3 - Income Protection Cover and Costs (5 Year Benefit Period) - from 1 April 2020

Default Cover

Waiting Period 30 days 60 days 90 days

Benefit Period 5 Years 5 Years 5 Years

Age Last Birthday

Total $ Cover per

month (5 units)

Value of 1 unit ($)

Weekly $ premium

(5 units)

Weekly $ premium

(1 unit)


Weekly $ premium

(1 unit)


Weekly $ premium

(1 unit)15 400 80 0.15 0.03 0.10 0.02 0.10 0.0216 400 80 0.15 0.03 0.10 0.02 0.10 0.0217 400 80 0.15 0.03 0.10 0.02 0.10 0.0218 400 80 0.15 0.03 0.10 0.02 0.10 0.0219 800 160 0.35 0.07 0.25 0.05 0.20 0.0420 1,200 240 0.50 0.10 0.35 0.07 0.30 0.0621 1,375 275 0.55 0.11 0.40 0.08 0.35 0.0722 1,375 275 0.55 0.11 0.40 0.08 0.35 0.0723 1,375 275 0.65 0.13 0.45 0.09 0.35 0.0724 1,375 275 0.70 0.14 0.50 0.10 0.40 0.0825 2,125 425 1.45 0.29 1.00 0.20 0.85 0.1726 2,125 425 2.00 0.40 1.40 0.28 1.15 0.2327 2,125 425 2.55 0.51 1.80 0.36 1.50 0.3028 2,125 425 3.05 0.61 2.15 0.43 1.80 0.3629 2,125 425 3.45 0.69 2.40 0.48 2.00 0.4030 2,125 425 3.65 0.73 2.55 0.51 2.10 0.4231 2,125 425 3.85 0.77 2.70 0.54 2.25 0.4532 2,125 425 4.10 0.82 2.85 0.57 2.35 0.4733 2,125 425 4.45 0.89 3.10 0.62 2.55 0.5134 2,125 425 5.00 1.00 3.50 0.70 2.90 0.5835 2,125 425 5.65 1.13 3.95 0.79 3.30 0.6636 2,125 425 6.45 1.29 4.50 0.90 3.75 0.7537 2,125 425 7.20 1.44 5.05 1.01 4.20 0.8438 2,125 425 8.45 1.69 5.90 1.18 4.90 0.9839 2,125 425 9.10 1.82 6.35 1.27 5.25 1.0540 2,125 425 10.00 2.00 7.00 1.40 5.80 1.1641 2,125 425 10.30 2.06 7.20 1.44 6.00 1.2042 2,125 425 11.00 2.20 7.70 1.54 6.40 1.2843 2,125 425 11.60 2.32 8.10 1.62 6.70 1.3444 2,125 425 12.95 2.59 9.05 1.81 7.50 1.5045 2,250 450 13.10 2.62 9.15 1.83 7.60 1.5246 2,250 450 13.10 2.62 9.15 1.83 7.60 1.5247 2,250 450 13.10 2.62 9.15 1.83 7.60 1.5248 2,250 450 13.10 2.62 9.15 1.83 7.60 1.5249 2,250 450 13.10 2.62 9.15 1.83 7.60 1.5250 2,000 400 11.25 2.25 7.85 1.57 6.50 1.3051 2,000 400 11.25 2.25 7.85 1.57 6.50 1.3052 2,000 400 11.25 2.25 7.85 1.57 6.50 1.3053 2,000 400 11.25 2.25 7.85 1.57 6.50 1.3054 2,000 400 11.25 2.25 7.85 1.57 6.50 1.3055 2,000 400 11.25 2.25 7.85 1.57 6.50 1.3056 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4457 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4458 2,000 400 8.35 1.67 5.85 1.17 4.85 0.9759 2,000 400 9.85 1.97 6.90 1.38 5.75 1.1560 1,975 395 11.45 2.29 8.00 1.60 6.65 1.3361 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4162 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4163 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4164 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4165 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4166 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4167 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4168 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4169 1,975 395 12.15 2.43 8.50 1.70 7.05 1.41


Table 4 - Income Protection Cover and Costs (To Age 60 Benefit Period) - from 1 April 2020

Default Cover


Benefit Period Age 60 Age 60 Age 60

Age Last Birthday

Total $ Cover per

month (5 units)

Value of 1 unit ($)

Weekly $ premium

(5 units)

Weekly $ premium

(1 unit)


Weekly $ premium

(1 unit)


Weekly $ premium

(1 unit)15 400 80 0.35 0.07 0.25 0.05 0.20 0.0416 400 80 0.35 0.07 0.25 0.05 0.20 0.0417 400 80 0.35 0.07 0.25 0.05 0.20 0.0418 400 80 0.35 0.07 0.25 0.05 0.20 0.0419 800 160 0.80 0.16 0.55 0.11 0.45 0.0920 1,200 240 1.35 0.27 0.95 0.19 0.80 0.1621 1,375 275 2.00 0.40 1.40 0.28 1.15 0.2322 1,375 275 2.30 0.46 1.60 0.32 1.35 0.2723 1,375 275 2.45 0.49 1.70 0.34 1.40 0.2824 1,375 275 2.80 0.56 1.95 0.39 1.60 0.3225 2,125 425 5.45 1.09 3.80 0.76 3.15 0.6326 2,125 425 6.20 1.24 4.35 0.87 3.60 0.7227 2,125 425 7.35 1.47 5.15 1.03 4.25 0.8528 2,125 425 8.60 1.72 6.00 1.20 5.00 1.0029 2,125 425 10.20 2.04 7.15 1.43 5.95 1.1930 2,125 425 12.25 2.45 8.55 1.71 7.10 1.4231 2,125 425 13.30 2.66 9.30 1.86 7.70 1.5432 2,125 425 13.30 2.66 9.30 1.86 7.70 1.5433 2,125 425 13.30 2.66 9.30 1.86 7.70 1.5434 2,125 425 13.30 2.66 9.30 1.86 7.70 1.5435 2,125 425 18.75 3.75 13.10 2.62 10.85 2.1736 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2437 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2438 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2439 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2440 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2441 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2442 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2443 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2444 2,125 425 19.30 3.86 13.50 2.70 11.20 2.2445 2,250 450 14.60 2.92 10.20 2.04 8.45 1.6946 2,250 450 14.60 2.92 10.20 2.04 8.45 1.6947 2,250 450 14.60 2.92 10.20 2.04 8.45 1.6948 2,250 450 14.60 2.92 10.20 2.04 8.45 1.6949 2,250 450 14.60 2.92 10.20 2.04 8.45 1.6950 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4451 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4452 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4453 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4454 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4455 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4456 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4457 2,000 400 12.45 2.49 8.70 1.74 7.20 1.4458 2,000 400 8.35 1.67 5.85 1.17 4.85 0.9759 2,000 400 9.85 1.97 6.90 1.38 5.75 1.1560 1,975 395 11.45 2.29 8.00 1.60 6.65 1.3361 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4162 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4163 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4164 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4165 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4166 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4167 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4168 1,975 395 12.15 2.43 8.50 1.70 7.05 1.4169 1,975 395 12.15 2.43 8.50 1.70 7.05 1.41


Voluntary Cover

Waiting Period 30 daysBenefit Period 5 Years

Age Last Birthday

Cover per Unit per month ($)


Prof WC LM BC HM Prof WC LM BC HM15 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2716 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2717 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2718 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2719 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2720 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2721 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2722 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2723 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2724 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2725 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2726 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2727 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2728 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2729 100 0.12 0.13 0.17 0.23 0.32 0.14 0.16 0.17 0.19 0.2730 100 0.12 0.13 0.18 0.24 0.34 0.15 0.16 0.17 0.20 0.2931 100 0.13 0.14 0.18 0.25 0.35 0.16 0.17 0.18 0.21 0.3032 100 0.13 0.15 0.19 0.27 0.37 0.16 0.18 0.19 0.22 0.3133 100 0.14 0.15 0.20 0.28 0.39 0.17 0.19 0.20 0.23 0.3334 100 0.15 0.16 0.21 0.29 0.41 0.18 0.20 0.21 0.24 0.3535 100 0.16 0.18 0.23 0.32 0.45 0.20 0.22 0.23 0.27 0.3836 100 0.17 0.19 0.25 0.34 0.47 0.21 0.23 0.24 0.28 0.4037 100 0.18 0.20 0.26 0.35 0.49 0.22 0.24 0.26 0.30 0.4238 100 0.19 0.20 0.27 0.37 0.52 0.23 0.25 0.27 0.31 0.4439 100 0.20 0.22 0.28 0.39 0.54 0.24 0.26 0.28 0.33 0.4640 100 0.22 0.24 0.32 0.44 0.61 0.27 0.29 0.31 0.36 0.5141 100 0.24 0.27 0.35 0.49 0.67 0.30 0.33 0.35 0.40 0.5742 100 0.27 0.30 0.39 0.54 0.75 0.33 0.36 0.39 0.45 0.6443 100 0.30 0.33 0.43 0.60 0.83 0.36 0.40 0.43 0.50 0.7044 100 0.32 0.36 0.47 0.65 0.90 0.39 0.43 0.46 0.54 0.7645 100 0.35 0.38 0.50 0.69 0.96 0.42 0.46 0.50 0.58 0.8146 100 0.38 0.42 0.55 0.76 1.05 0.46 0.51 0.55 0.63 0.8947 100 0.42 0.46 0.60 0.83 1.15 0.51 0.56 0.60 0.69 0.9848 100 0.46 0.50 0.66 0.91 1.26 0.55 0.61 0.66 0.76 1.0749 100 0.50 0.55 0.72 0.99 1.38 0.60 0.66 0.72 0.83 1.1750 100 0.54 0.60 0.79 1.08 1.51 0.66 0.72 0.78 0.90 1.2751 100 0.59 0.65 0.86 1.18 1.64 0.72 0.79 0.85 0.98 1.3952 100 0.64 0.71 0.93 1.28 1.78 0.78 0.86 0.92 1.07 1.5153 100 0.70 0.77 1.01 1.39 1.93 0.85 0.93 1.00 1.16 1.6454 100 0.76 0.83 1.10 1.51 2.10 0.92 1.01 1.09 1.26 1.7855 100 0.82 0.90 1.19 1.64 2.27 1.00 1.09 1.18 1.36 1.9256 100 0.86 0.95 1.25 1.72 2.39 1.04 1.15 1.24 1.43 2.0257 100 0.90 0.99 1.31 1.80 2.50 1.09 1.20 1.30 1.50 2.1158 100 0.29 0.32 0.41 0.57 0.79 0.35 0.38 0.41 0.48 0.6859 100 0.30 0.34 0.44 0.61 0.85 0.37 0.41 0.44 0.51 0.7260 100 0.33 0.36 0.48 0.65 0.91 0.40 0.44 0.48 0.55 0.7761 100 0.35 0.39 0.51 0.70 0.98 0.43 0.47 0.51 0.59 0.8362 100 0.36 0.40 0.52 0.72 1.00 0.44 0.49 0.52 0.60 0.8563 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.7164 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.7165 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.7166 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.7167 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.7168 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.7169 100 0.30 0.33 0.44 0.60 0.84 0.37 0.40 0.44 0.50 0.71

Table 5 - Income Protection Voluntary Cover and costs (5 year Benefit Period, 30 day Waiting Period) - from 1 April 2020


Voluntary Cover


Age Last Birthday






Voluntary Cover

Waiting Period 30 daysBenefit Period To Age 60

Age Last Birthday




Table 8 - Income Protection Voluntary Cover and costs (To Age 60 Benefit Period, 30 day Waiting Period) - from 1 April 2020


Voluntary Cover


Age Last Birthday






Table 11 - Income Protection Cover and costs (To Age 60, Grandfathered Benefit Level) - from 1 April 2020

Default Cover


Benefit Period Age 60 Age 60 Age 60

Age Last Birthday

Total $ Cover per month (5 units)

Value of 1 unit ($)







15 900 180 0.55 0.11 0.40 0.08 0.35 0.0716 900 180 0.55 0.11 0.40 0.08 0.35 0.0717 900 180 0.65 0.13 0.45 0.09 0.35 0.0718 1,650 330 1.45 0.29 1.00 0.20 0.85 0.1719 1,650 330 1.65 0.33 1.15 0.23 0.95 0.1920 1,650 330 1.85 0.37 1.30 0.26 1.10 0.2221 1,650 330 2.35 0.47 1.65 0.33 1.35 0.2722 1,650 330 2.70 0.54 1.90 0.38 1.60 0.3223 1,650 330 2.85 0.57 2.00 0.40 1.65 0.3324 1,650 330 3.30 0.66 2.30 0.46 1.90 0.3825 2,550 510 6.50 1.30 4.55 0.91 3.80 0.7626 2,550 510 7.45 1.49 5.20 1.04 4.30 0.8627 2,550 510 8.80 1.76 6.15 1.23 5.10 1.0228 2,550 510 10.30 2.06 7.20 1.44 6.00 1.2029 2,550 510 12.25 2.45 8.55 1.71 7.10 1.4230 2,550 510 14.65 2.93 10.25 2.05 8.50 1.7031 2,550 510 15.95 3.19 11.15 2.23 9.25 1.8532 2,550 510 15.95 3.19 11.15 2.23 9.25 1.8533 2,550 510 15.95 3.19 11.15 2.23 9.25 1.8534 2,550 510 15.95 3.19 11.15 2.23 9.25 1.8535 2,550 510 22.45 4.49 15.70 3.14 13.05 2.6136 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6937 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6938 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6939 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6940 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6941 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6942 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6943 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6944 2,550 510 23.15 4.63 16.20 3.24 13.45 2.6945 2,700 540 17.45 3.49 12.20 2.44 10.15 2.0346 2,700 540 17.45 3.49 12.20 2.44 10.15 2.0347 2,700 540 17.45 3.49 12.20 2.44 10.15 2.0348 2,700 540 17.45 3.49 12.20 2.44 10.15 2.0349 2,700 540 17.45 3.49 12.20 2.44 10.15 2.0350 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0351 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0352 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0353 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0354 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0355 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0356 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0357 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0358 2,800 560 11.65 2.33 8.15 1.63 6.75 1.3559 2,800 560 13.80 2.76 9.65 1.93 8.00 1.6060 2,750 550 15.95 3.19 11.15 2.23 9.25 1.8561 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9662 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9663 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9664 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9665 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9666 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9667 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9668 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9669 2,750 550 16.85 3.37 11.80 2.36 9.80 1.96


Table 12- Income Protection Cover and Costs (5 year Benefit Period, Grandfathered Benefit Level)^ - from 1 April 2020

Default Cover


Benefit Period 5 Years 5 Years 5 Years

Age Last Birthday

Total $ Cover per month (5 units)

Value of 1 unit ($)







15 900 180 0.35 0.07 0.25 0.05 0.20 0.0416 900 180 0.35 0.07 0.25 0.05 0.20 0.0417 900 180 0.35 0.07 0.25 0.05 0.20 0.0418 1,650 330 0.70 0.14 0.50 0.10 0.40 0.0819 1,650 330 0.70 0.14 0.50 0.10 0.40 0.0820 1,650 330 0.70 0.14 0.50 0.10 0.40 0.0821 1,650 330 0.70 0.14 0.50 0.10 0.40 0.0822 1,650 330 0.70 0.14 0.50 0.10 0.40 0.0823 1,650 330 0.70 0.14 0.50 0.10 0.40 0.0824 1,650 330 0.85 0.17 0.60 0.12 0.50 0.1025 2,550 510 1.70 0.34 1.20 0.24 1.00 0.2026 2,550 510 2.35 0.47 1.65 0.33 1.35 0.2727 2,550 510 3.05 0.61 2.15 0.43 1.80 0.3628 2,550 510 3.70 0.74 2.60 0.52 2.15 0.4329 2,550 510 4.10 0.82 2.85 0.57 2.35 0.4730 2,550 510 4.35 0.87 3.05 0.61 2.55 0.5131 2,550 510 4.60 0.92 3.20 0.64 2.65 0.5332 2,550 510 4.95 0.99 3.45 0.69 2.85 0.5733 2,550 510 5.35 1.07 3.75 0.75 3.10 0.6234 2,550 510 5.95 1.19 4.15 0.83 3.45 0.6935 2,550 510 6.80 1.36 4.75 0.95 3.95 0.7936 2,550 510 7.70 1.54 5.40 1.08 4.50 0.9037 2,550 510 8.65 1.73 6.05 1.21 5.00 1.0038 2,550 510 10.10 2.02 7.05 1.41 5.85 1.1739 2,550 510 10.85 2.17 7.60 1.52 6.30 1.2640 2,550 510 12.00 2.40 8.40 1.68 6.95 1.3941 2,550 510 12.30 2.46 8.60 1.72 7.15 1.4342 2,550 510 13.25 2.65 9.25 1.85 7.70 1.5443 2,550 510 13.85 2.77 9.70 1.94 8.05 1.6144 2,550 510 15.50 3.10 10.85 2.17 9.00 1.8045 2,700 540 15.75 3.15 11.00 2.20 9.15 1.8346 2,700 540 15.75 3.15 11.00 2.20 9.15 1.8347 2,700 540 15.75 3.15 11.00 2.20 9.15 1.8348 2,700 540 15.75 3.15 11.00 2.20 9.15 1.8349 2,700 540 15.75 3.15 11.00 2.20 9.15 1.8350 2,800 560 15.75 3.15 11.00 2.20 9.15 1.8351 2,800 560 15.75 3.15 11.00 2.20 9.15 1.8352 2,800 560 15.75 3.15 11.00 2.20 9.15 1.8353 2,800 560 15.75 3.15 11.00 2.20 9.15 1.8354 2,800 560 15.75 3.15 11.00 2.20 9.15 1.8355 2,800 560 15.75 3.15 11.00 2.20 9.15 1.8356 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0357 2,800 560 17.45 3.49 12.20 2.44 10.15 2.0358 2,800 560 11.65 2.33 8.15 1.63 6.75 1.3559 2,800 560 13.80 2.76 9.65 1.93 8.00 1.6060 2,750 550 15.95 3.19 11.15 2.23 9.25 1.8561 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9662 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9663 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9664 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9665 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9666 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9667 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9668 2,750 550 16.85 3.37 11.80 2.36 9.80 1.9669 2,750 550 16.85 3.37 11.80 2.36 9.80 1.96

^ available to members on the To Age 60 grandfathered benefit level onlyRest Super Insurance Guide | 4342

Table 13 – Occupation categories

Occupation Category Definitions

Professional (PROF)

Professional occupations with no exposure to unusual hazards – these occupations involve work in a sedentary* capacity in an office environment, in an office or retail building by members who:

• have an annual income from personal exertion that exceeds $80,000 a year; and

• belong to a professional association, have a university degree relevant to their profession or are a senior manager in a company with at least ten employees.

White Collar (WC)

These occupations are performed indoors, in an office or retail building in an office environment. Members only work in a sedentary* capacity with little or no physical activity and do not meet the criteria for the Professional category.

Examples are administrative and clerical workers.

Light Manual (LM)

These occupations involve some light manual duties. Examples are most sales persons and occupations with some fieldwork.

Blue Collar (BC)

These occupations involve some manual work and the use of light machinery. Examples are qualified tradespeople.

Heavy Manual (HM)

These occupations can be unskilled, involve manual work or use of heavier equipment. Examples are night fillers, local drivers, non-qualified tradespeople and some occupations with a high level of risk.

* Sedentary means not being involved in physical duties and spending 90% or more time sitting at an office desk.

Some members may not be eligible for insurance cover due to risk factors, such as their condition of health or the high-risk nature of their occupation. The above classifications are guidelines only and the final determination is at our Insurer’s discretion.

If you change occupations and believe your insurance costs will change as a result, it is your responsibility to notify Rest. No retrospective refunds or adjustments will apply.

Super Tip #2

Change is a part of life, so it’s important that you review your insurance regularly - for example, if you get married, have a family or buy a home.

If you change jobs, it’s important that you let us know as this could impact your continued eligibility for insurance.


Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739 AFSL 240003 (Rest)as trustee for Retail Employees Superannuation Trust ABN 62 653 671 394 600.6 09/20 ISS22Unique Superannuation Identifier RES0103AU

PO Box 350 Parramatta NSW 2124

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