This month REI Super, the industry fund for real estate professionals, resolved to adopt the AIST Insurance in Superannuation Voluntary Code of Practice and will start to implement it from its commencement from 1 July 2018.
The Code has been developed with the objective of improving the insurance in superannuation offered to members and the processes by which insurance benefits are provided.
“REI Super’s adoption of the Code reflects our commitment to continuing to provide our members with high quality and cost effective death, disablement and income protection cover and to giving them access to excellent service when they apply for insurance or make a claim,” said REI Super CEO Mal Smith.
“The Code also contains some very sound practices for making sure fund members do not pay too much for insurance or that they do not receive unnecessary insurance.”
“AT REI Super we recognise that cost effective insurance is a critical component of superannuation for Australians, as it provides them with death and disablement cover that they would not in most cases arrange for themselves. Super funds are ideally placed to provide this in the most cost effective way for members, due to their ability to access group cover arrangements.”
AIST Insurance in Superannuation Voluntary Code of Practice (PDF)
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