For life’s unplanned events
No one likes to think about it, but what would you do if something happened to you due to serious illness or injury and you could no longer work? How long could your family support themselves without a regular income if you passed away?
We’ve got you covered
This is why REI Super offers affordable death and total and permanent disablement (TPD) insurance when you join. This is our default insurance cover.
An added bonus is that your insurance fees are paid directly through your superannuation account and not through your monthly pay check1. So you don’t have to budget for another bill and still have peace of mind that you’re covered.
Our insurance options:
- REI Super default insurance – covers total and permanent disablement and death. You can opt out of this cover if you wish or apply for additional cover.
- Death only cover (optional) – only covers death
- Income Protection insurance (optional) – this provides a monthly income for up to 2 years (or upon reaching age 65), helping you manage monthly financial expenses if you are unable to work due to temporary disability or illness.
See more details about our insurance options.
When to review your insurance?
As life changes it’s a good idea to regularly review your insurance to ensure that you still have to the right level of cover. It's a good idea to review your insurance annually or whenever you have a major life event that impacts your personal financial commitments, including:
- Buying a home or investment property
- Getting married or divorced
- Starting a family
- Family bereavement
You can change your level of cover at any time. If you are unsure how much insurance you need, use our insurance calculator tool or call us 1300 13 44 33 and speak to one of our friendly insurance financial advisers.
1 This may reduce money available for retirement.
Insurance in Superannuation Voluntary Code of Practice
The Insurance in Superannuation Voluntary Code of Practice (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 to members.
Where appropriate and in the best interests of our members, REI Super will start to implement the Code from its commencement from 1 July 2018.