REST Super Insurance Guide

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1 REST Super Insurance Guide Including Application for insurance Effective 1 January 2016 The information in this document forms part of the REST Super Product Disclosure Statement (PDS) effective 1 October You should read the PDS in conjunction with this Insurance Guide. Issued by Retail Employees Superannuation Pty Limited ABN AFSL Retail Employees Superannuation Trust ABN Unique Superannuation Identifier RES0103AU REST s current insurer is AIA Australia Limited ABN , AFSL rest.com.au

2 Contents Your insurance options 3 Death cover 4 Total and Permanent Disablement cover 5 Income Protection cover 6 Table 1 Death cover and costs 8 Table 2 Total and Permanent Disablement cover and costs 9 Table 3 Income Protection cover and costs 10 How much insurance do you need? 11 Important information about your insurance 13 How to apply for cover 18 Application for insurance form 19 This REST Super Insurance Guide is incorporated by reference material. The information in this document forms part of the REST Super Product Disclosure Statement (PDS), effective 1 October The REST Super PDS and its incorporated by reference material REST Super Member Guide, REST Super Insurance Guide, and Investment Guide are important information you should consider before making a decision to invest in this product. The information in this document is general information only and doesn t take into account your individual objectives, financial situation or needs. Accordingly, before acting on the contents of the PDS, you should consider whether it is appropriate to you, having regards to your objectives, financial situation and needs. You should read the PDS including the REST Super Member Guide, REST Super Insurance Guide and Investment Guide in its entirety before making any decision in connection with this product. You may wish to consult a licensed financial adviser to obtain financial advice that is tailored to suit your personal circumstances. If you are printing an electronic copy of the PDS, you must print all pages of the PDS and forms, this REST Super Insurance Guide, and the other incorporated by reference material that forms part of the PDS. An electronic copy is available at rest.com.au/pds REST Super, also referred to in this document as the Fund, is governed by a trust deed. As a member you will be bound by the terms of the trust deed and its rules, which may be amended, subject to superannuation law. The trust deed and rules provide for many of the rights, duties and responsibilities of the Trustee, members, other beneficiaries and employers. There is currently some uncertainty about the terms of the trust deed for the Fund. The Trustee is seeking to confirm the terms of the trust deed in the Supreme Court of South Australia. This might mean that the terms of the trust deed will change. The Trustee does not think that any changes or the court proceedings will have any practical effect on members or on our administration of the Fund. The information contained in the PDS is up to date at the time of preparation. However, the Trustee reserves the right to change the insurer and vary the benefits, insurance costs, procedures or terms and conditions from time to time. Some of the information may also be subject to change, such as information about other management costs, other fees or the investment strategy of a particular investment option. AIA Australia Limited (ABN , AFSL No ) has consented to the statement about its Privacy Policy on page 16 being included in the form and context in which it is included and has not withdrawn this consent as at the issue date of this REST Super Insurance Guide. From time to time there may be changes to non-materially adverse information, which may be updated through member communications other than the PDS or on our website at rest.com.au/governance Further information including a full paper copy of the PDS, the trust deed, any non-materially adverse updates to information in the PDS and any other important information that forms part of this PDS can be obtained free of charge on request by contacting REST Customer Service: Phone: (8am to 8pm) Web: rest.com.au Mail: PO Box 350, Parramatta, NSW 2124 The PDS has been issued by the Trustee company, Retail Employees Superannuation Pty Limited, ABN , referred to in the PDS as the Trustee, we, our, us, or 'REST'. REST Super is a product of the Retail Employees Superannuation Trust ABN (REST Industry Super). The Trustee s registered address is Level 7, 50 Carrington Street, Sydney NSW REST is administered by Australian Administration Services Pty Ltd, ABN (AAS), referred to in the PDS as REST Customer Service. REST Customer Service personnel are not representatives of the Trustee. Any general financial product advice given by REST Customer Service personnel is provided by AAS. The invitation to invest in this product is only available to persons receiving this product in Australia. It is not made, directly or indirectly, to persons in any other country. 2

3 Your insurance options REST offers a range of flexible insurance options designed to provide protection for you and your beneficiaries against financial hardship if you are unable to work for a long period due to sickness or injury, or become permanently disabled or die. Types of insurance The types of insurance cover available to REST members are Death, Total and Permanent Disablement (TPD) and Income Protection (IP). For REST Super members, these come in the form of Basic Cover and Voluntary Cover. What is Basic Cover? Basic Cover is a package comprising: Death cover providing a lump sum or, if chosen, a pension in the event of death Total and Permanent Disablement (TPD) cover providing a lump sum or, if chosen, a pension, if you become sick or injured to the extent that you are not expected to ever work again Long-term Income Protection (IP) paying you an income if you are unable to work for a prolonged period due to injury or sickness. If you are insured for Death cover, you will also be insured for Terminal Illness cover. The Terminal Illness amount payable may be lower than your Death cover sum insured. See page 4 of this Guide for details of our Terminal Illness Benefit. Value for money REST provides insurance to its members at a group rate through AIA Australia a leading insurance company. REST uses its buying power to negotiate group insurance rates that generally compare favourably with what you may otherwise pay as an individual. The sooner the better It s generally easier to obtain the insurance you need when you re younger. As time goes on, your medical history grows with each sickness or injury. And it doesn t have to be really serious a simple back injury can be an insurance issue. The opportunity to get the right level of cover at competitive rates may never be better than it is today. So don t put it off take care of your insurance as soon as you can. If you are under 18 years of age, we recommend that you discuss your insurance options with your parent/guardian. The information in this guide is applicable to REST Super members only. If you are a member of REST Select or REST Corporate, please refer to the relevant Product Disclosure Statement or Insurance Guide for details of your insurance cover options. There are defined terms used in this guide. Please refer to definitions set out on page 15, for ease of reference. Cover on joining REST Upon joining, all new members who are receiving mandatory employer contributions from a REST employer are automatically provided with our default Basic Cover package (Automatic Basic Cover), subject to meeting terms and conditions on pages Basic Cover consists of: five units of Basic Death cover five units of Basic TPD cover, and five units of Basic IP cover. The Automatic Basic Cover you receive may be Limited Cover if you are not in Active Employment at the time your cover commences (see page 13). If you are not receiving mandatory employer contributions from a REST employer you can still apply for Basic Cover by providing health and other underwriting information. New members joining REST who are receiving mandatory employer contributions from a REST employer can also take advantage of a special limited offer to increase their level of cover by taking out additional Basic Cover (an additional one or two units), without having to provide any health evidence (limits and conditions apply), providing they make their election within 120 days of their account being created. Simply visit MemberAccess at rest.com.au to explore your different cost and cover options. Basic Cover changes as your life does The Basic Cover package is designed to protect you throughout your working life, without your active involvement, so the level of cover changes as your life changes. Basic Cover offers a: Life stage approach for Death cover with different levels of cover at different ages. Our Death cover aims to provide an appropriate level of cover for the average member in line with the different stages in life. Death cover is lowest when you are young and automatically increases as you get older when your need to have cover may be higher. It then reduces again as you approach retirement. Living benefit approach for Disability (TPD and IP) cover with a long-term IP benefit and a lump sum TPD benefit. Our TPD benefit aims to help protect you against the financial costs associated with the occurrence of a serious permanent disability. Our IP cover pays you an income if you can t work due to injury or sickness for more than 60 days. Our IP cover has a long-term benefit period. You may be paid up to your 60th birthday while you are disabled #. # For members whose Waiting Period ends on or after age 58, a two year benefit period will apply (or to age 65 if this occurs earlier) for any one injury or sickness while you are totally and/or partially disabled. REST Super Insurance Guide 3

4 Cover to suit your needs Increasing cover You can apply for additional Voluntary Cover if you would like to be covered for more than our age-based Basic Cover. You can apply for one or a combination of Death, TPD and IP cover, on top of your full Basic Cover. The cost of Voluntary Cover is based on your age, gender and occupation category, and is set out in the tables on pages To apply for Basic Cover or Voluntary Cover, please read the information provided in this guide carefully, login to MemberAccess at rest.com.au and click on the Insurance Tab to view your insurance options. Alternatively, complete the Application for insurance form at the back of this guide. For new members who have taken advantage of the special limited offer to increase your Basic Cover, any Voluntary Cover you are accepted for will apply in addition to your existing six or seven Basic Units. Did you know? In three simple steps you can calculate how much cover you need, obtain a quote and apply for increased cover. Simply login to MemberAccess at rest.com.au and click on the Insurance tab to view your insurance options. Decreasing cover You can decrease your insurance cover at any time by reducing the total number of units you currently have. If you already have Voluntary Cover, you must decrease your Voluntary Units before you can decrease any Basic Units. To decrease your cover, please consider your needs carefully and either login to MemberAccess at rest.com.au or contact Cancelling cover 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. To cancel your cover, please consider your needs carefully and either login to MemberAccess at rest.com.au or contact If you are unsure about how much cover you currently have with REST, login to MemberAccess at rest.com.au or contact us on Death cover Death cover provides your dependants with a lump sum or, if chosen, a pension in the event of death. Basic Death cover Our Life stage approach for Death cover provides a level of cover in line with different life stages, based on typical or average scenarios. Basic 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. Life stage Death benefits at each stage Sum Insured ($) $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50, Age (Years) (The graph above is for the five units of Basic Death cover that forms part of our default Basic Cover and is to an approximate scale. Please refer to page 8 for the sum insured for each age.) As people get older, life changes can include things like finding a partner, having children and taking on the responsibility of a mortgage. With these changes often comes increased financial commitments, where there is 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 Basic Death cover and the amount of cover provided depends on your age. See Table 1 on page 8. You should consider your own circumstances, as not everyone fits into the typical life stages on which the Basic Death cover is modelled. Voluntary Death cover Voluntary Death cover is a fixed amount of cover in addition to your Basic Death cover. The amount of this 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 ceases at age 70. Subject to approval by the insurer, you can apply for any amount of Death cover on top of your existing Basic Death cover. The cost of Voluntary Units (see Table 1 on page 8) is based on your age, gender and occupation category (see Table 4 on page 11). When you think about how much cover to apply for, consider how your Basic 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. Terminal illness means the insured member is considered, in the opinion of the insurer, to suffer from an illness, or has incurred an injury, that is likely to result in the insured member s death within 24 months of the date of certification of the terminal illness by two registered medical practitioners (with one being a specialist in that particular medical field) acceptable to the insurer and the certification period has not ended. 4

5 The amount payable for Terminal Illness will be as follows: If you are insured for both Death and TPD cover, the Terminal Illness benefit payable to you will be the lower of (a) your Death cover and (b) your TPD cover. If you are insured for Death cover only, the Terminal Illness benefit payable to you will be the lower of (a) your Death cover and (b) the value of five units of Basic TPD cover for your age at the Incident Date. Payment of the Terminal Illness benefit reduces both your Death benefit and TPD benefit (if any) by the amount paid. Total and Permanent Disablement cover If you become sick or injured to the extent that you are not expected to ever work again, Total and Permanent Disablement (TPD) cover provides you or your dependants with a lump sum or, if chosen, a pension. Our TPD benefit aims to help protect you against the financial costs associated with a serious permanent disability. Basic Cover is a fixed sum insured of $68,000 at most ages. Definition of Total and Permanent Disablement TPD means disablement where the insurer is satisfied on medical or other evidence that you: Part 1 Part 2 Part 3 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. If you also have REST IP cover, Voluntary TPD cover claims will not be considered until after completion of any relevant rehabilitation in connection with the IP benefit. The skills, education, training and experience acquired through this rehabilitation will be considered in determining any reasonably suited occupation. OR suffer the total and permanent loss of the use of: a. two hands*, or b. two feet*, or c. one hand* and one foot*, or d. one hand* and the sight in one eye, or 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, they are considered TPD if they 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, they are considered TPD if they meet either of Part 2 or Part 3. c. In the case of Part 2 or Part 3 where the incident date is on or after 1 July 2014, 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 the 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. Death and TPD are Linked benefits Death and TPD are linked benefits meaning that payment of a TPD benefit reduces your Death cover by the same amount and payment of the 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. Basic TPD cover The cost of Basic TPD and the amount of cover provided depends on your age. See Table 2 on page 9. 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 ($1 million if aged 65 to 69). The cost of Voluntary Units (see Table 2 on page 9) is based on your age, gender, and occupation category (see Table 4 on page 11). REST Super Insurance Guide 5

6 Income Protection cover Income Protection (IP) cover 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 age to reflect the fact that your salary generally increases with age. You are eligible to receive an IP benefit if you are disabled continuously for more than the Waiting Period of 60 days. The benefit starts accruing after the end of the 60 day Waiting Period and ceases on the earliest of: when you are no longer totally or partially disabled when you reach age 60, if your Waiting Period ends prior to age 58 at the end of a two-year benefit period (or at age 65 if this occurs earlier), if your Waiting Period ends on or after age 58, or your death. 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, 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 account. Your superannuation component must be paid into your REST account. If you close this account, the superannuation component of any IP benefit payable to you will cease. 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; and c. Basic IP Cover + $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 $1,000 month: Monthly income benefit = ($1,000 x 77%) Super component = (Monthly income benefit x 12%) $770 (paid to you, before tax) $92.40 (paid to your REST super account) Claims Indexation To keep your claim payments up to date with inflation, on the anniversary of your claim # and every 12 months thereafter, your Total Disability benefit will be indexed by the lesser of 5% and the annual change in Average Weekly Ordinary Time Earnings (AWOTE). If AWOTE is zero or negative, there will be no indexation that year. 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 are required to be paid income benefits from other sources, such as sick leave, workers compensation, motor accident compensation, social security benefits or benefits from another insurance policy, the amount payable from other sources 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. # The anniversary of your claim is the date 12 months after the end of your Waiting Period. 6

7 It is important to notify the insurer of any change to your offsetting benefits as this may change the amount of IP paid to. Basic IP cover Like our Death cover, our Basic 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 as you gain experience and start to earn more. The cover amount and cost of Basic IP cover depends on your age. See Table 3 on page 10. Voluntary IP cover Each Voluntary Unit of IP cover provides $1,000 cover per month until age 65. Subject to approval by the insurer, you can take out up to $30,000 per month of IP cover on top of your full Basic IP cover. The maximum benefit payable is 77% of your Pre-Disability Income plus 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 Table 3 on page 10) is based on your age, gender and occupation category (see Table 4 on page 11). Income Protection definitions The following is a summary of definitions applying to IP cover. Total Disability Total Disability means that, solely due to sickness or injury, the insured member: a. for the first two years of the benefit period is unable to perform any of the Important Duties* of his or her own occupation b. after expiry of the two years, and for the balance of the benefit period, is unable to perform any of the Important Duties* of his or her own occupation and any other occupation for which the insured member is reasonably able to perform by reason of education, training or experience c. remains under the regular care, attendance and following the advice of a registered medical practitioner in relation to that sickness or injury, and d. is not engaged in any occupation (whether or not for reward). The skills, education, training and experience the insured member acquires through rehabilitation in connection with the IP benefit will be considered in determining any reasonably suited occupation. Partial Disability If an insured member is partially disabled beyond the end of the Waiting Period and has 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. Partially disabled means that due to the sickness or injury that caused Total Disability, the insured member: a. is unable to perform one or more Important Duties* of his or her own occupation b. is capable of working, whether or not for reward c. is earning a monthly income that is less than his or her Pre-Disability Income, and d. remains under the regular care, attendance and following the advice of a registered medical practitioner in relation to that sickness or injury. * An Important Duty is one that involves 20% or more of the insured member s overall tasks. REST Super Insurance Guide 7

8 Table 1 Death cover and costs Age Last Birthday Basic Cover Total $ cover (5 Units) Weekly $ cost (5 Units) Value of 1 Unit ($) Weekly $ cost (1 Unit) Voluntary Cover Cover per Unit ($) Cost per Unit per week ($) by gender and occupation category (see page 11) Male Female Prof WC LM BC HM Prof WC LM BC HM 15 40, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

9 Table 2 TPD cover and costs Age Last Birthday Basic Cover Total $ cover (5 Units) Weekly $ cost (5 Units) Value of 1 Unit ($) Weekly $ cost (1 Unit) Voluntary Cover Cover per Unit ($) Cost per Unit per week ($) by gender and occupation category (see page 11) Male Female Prof WC LM BC HM Prof WC LM BC HM 15 40, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , REST Super Insurance Guide 9

10 Table 3 Income Protection cover and costs No matter how many units you have, the maximum payable will be 77% of your Pre-Disability Income plus 12% of this amount as a super component. Basic Cover Voluntary Cover Age Last Birthday Total $ cover per month (5 Units) Weekly $ cost (5 Units) Value of 1 Unit ($) Weekly $ cost (1 Unit) Cover per Unit per month ($) Cost per Unit per week ($) by gender and occupation category (see page 11) Male Female Prof WC LM BC HM Prof WC LM BC HM , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

11 Table 4 Occupation categories Professional (PROF) White Collar (WC) Light Manual (LM) Blue Collar (BC) Heavy Manual (HM) 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. Minimal injury/health risk 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. Slight injury/health risk these occupations involve some light manual duties. Examples are most sales persons and occupations with some fieldwork. Moderate injury/health risk these occupations involve some manual work and the use of light machinery. Examples are qualified tradespeople. Appreciable injury/health risk 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. 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 the 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. How much insurance do you need? Table 5 (below) and the worksheet on page 12 offer a guide to the level of insurance you may need. We recommend you seek independent financial advice before making your insurance decisions. Alternatively, visit rest.com.au, go to the insurance information page and use our online needs calculator. Benefit levels and insurance costs may change (up or down) and conditions of cover may also change in future years without notice. Table 5 How much IP cover do you need? Income Protection cover protects one of the most important assets you have your ability to earn an income. The benefit paid to you monthly could help pay bills and meet other financial commitments while you are off work, allowing you to focus on your well-being and recovery. To work out how much IP cover you may need, refer to the following example: Your age 25 How much do you earn each month, before tax? Multiply by 77% (x 0.77) (this is the monthly income benefit) Multiply the amount in the line above by 12% (x 0.12) (this is the super component) Total (this is the total amount you need) Minus $2,400 (Basic IP cover) see page 10 Divide by $1,000 (this is the benefit provided per month for one unit of Voluntary IP cover) Example $3,600 $ You = $2,772 = $ = $333 =$ = $3,105 = $ - $2,400 - $ = $705 = $ $1,000 $1,000 = Number of Voluntary Units = 1 = Seeking financial advice If you are unsure of your insurance needs you should seek professional financial advice. REST can put you in touch with a Money Solutions* coach. As a REST member, subject to superannuation law, REST will pay for your first single super-related question over the phone. # Sedentary means not being involved in physical duties and spending 90% or more of time sitting at an office desk. * Money Solutions Pty Limited ABN , AFSL No Money Solutions personnel are not representatives of the REST Trustee. Any financial product advice given by Money Solutions is provided under the Money Solutions AFSL. The Trustee does not accept liability for any loss or damage incurred by any person as a result of using products or services provided by Money Solutions. REST Super Insurance Guide 11

12 Example Monica is 25 years old and works in a women s fashion store. Her occupation category is Light Manual. She wants around $250,000 Death cover and $100,000 TPD cover and has worked out that 77% of her monthly income plus 12% of this amount as a super component is $4,000. This is her desired monthly IP cover. My insurance costs I am years old and I work as a. My occupation category is. I want around $ Death cover and $ TPD cover and 77% of my monthly income (plus 12% of this amount) is $. Death Cover Monica s Basic Cover gives her $240,500 of Death cover (Table 1). Applying for one Voluntary Death unit ($10,000) will give her total cover of $250,500, in line with her target of around $250,000. Death Cover My Basic Cover gives me $ of Death cover (Table 1). Applying for voluntary units ( x $ = $ ) will give me total cover of $. This is close to my target of $. TPD Cover Monica s Basic Cover gives her $68,000 of TPD cover (Table 2). Applying for three Voluntary TPD units (3 x $10,000 = $30,000) will give her total cover of $98,000, in line with her target of around $100,000. TPD Cover My Basic Cover gives me $ of TPD cover (Table 2). Applying for voluntary units ( x $ = $ ) will give me total cover of $. This is close to my target of $. Income Protection Monica s Basic Cover gives her up to $2,400 per month in IP cover (Table 3). Applying for two Voluntary IP units (2 x $1,000 = $2,000) will give her $4,400 per month of cover. However, this is capped at 77% of Pre-Disability Income plus a component that will be paid as super to her REST account provided her account remains open when payments are made. Income Protection My Basic Cover gives me up to $ per month in IP cover (Table 3). I need to apply for voluntary units ( x $1,000 = $ ). This will give me $ per month of cover. This is close to my target of $. How Monica calculates insurance costs Cost per week How I calculate my insurance costs Cost per week Basic Cover Voluntary Cover Five Basic Units of Death, TPD and IP cover (Table 1, 2 and 3) $5.65 One voluntary unit $0.12 of Death cover at $0.12 per unit (Table 1) Three voluntary units $0.12 of TPD cover at $0.04 per unit (Table 2) Two voluntary units $4.88 of IP cover at $2.44 per unit (Table 3) Total cost per week* $10.77 Basic Cover Five Basic Units of Death, TPD and IP cover Voluntary Cover voluntary units $ of Death cover at $ per unit voluntary units $ of TPD cover at $ per unit voluntary units $ of IP cover at $ per unit Total cost per week* $ $ * This is the total initial cost. Costs generally increase with age. The above examples are a guide only using figures from tables on pages Insurance costs, benefit levels and conditions of cover are not guaranteed and may be varied from time to time without notice. Before making a decision based on the above you should consider the appropriateness of any additional cover having regard to your objectives, financial situation and needs. 12

13 Important information about your insurance Paying insurance costs Insurance costs are deducted from your account balance. If your account balance is insufficient to cover your insurance costs, your cover will end without notice. It is your responsibility to ensure your account always has enough to pay the required insurance costs. If your cover ceases you will need to provide evidence of your health that is satisfactory to the insurer before you can take up insurance in the future. You can keep up to date with your account balance by checking it online in MemberAccess at rest.com.au When your cover starts Automatic Basic Cover will start on the latest of: the date you last joined REST the date your most recent employer joined REST 180 days before we received the first mandatory employer contribution for your latest period of employment with your REST employer the beginning of the period to which the first mandatory employer contribution relates for your latest period of employment with a REST employer the date you commenced employment with your REST employer that made the first mandatory employer contribution for your latest period of employment. Non automatic cover will start on: for insurance you elect during the 120 day special new member period, the latest of the date you make your election and the date of receipt of your first mandatory employer contribution for insurance you select via online underwriting, an Application for insurance or Insurance transfer form, the date your application is accepted by our insurer. In the case where you are not employed by a REST employer, you must meet the Minimum Account Balance requirements for cover to apply (refer to page 14). Automatic cover will not commence or recommence unless we receive a mandatory employer contribution for you. The following contributions do not count as contributions for the purpose of assessing your eligibility for Automatic Basic Cover: non-compulsory contributions by your employer contributions made to another super fund that are subsequently transferred to REST payments by the Australian Taxation Office of a shortfall component personal contributions, spouse contributions or payments resulting from a Family Law Split. Insurance will not start any earlier than described under any circumstances, even if we deduct insurance costs for a period before the start of insurance cover. However, such insurance costs will be refunded. Limited Cover If you are not in Active Employment at the time that your Automatic Basic Cover or increased cover (including cover increased during the special new member period) commences or recommences, you will receive Limited Cover until you return to Active Employment for two consecutive months. This condition does not apply to insurance you apply for via online underwriting or an Application for insurance form. When your cover ceases Insurance cover will cease on the earliest of: except where Continued Cover applies (see Continued Cover below) 71 days after you were last At Work. For the purpose of ceasing insurance, At Work includes: i. being on fully-paid leave caused by sickness or injury or being entitled to receive an IP benefit under REST Super. ii. where you become self-employed and work in the same business as the business in which you were previously employed by a REST employer and you are self-employed for gainful reward in that business for at least 10 hours per week. 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 for cover to end the date you: turn age 70 for Death and/or TPD cover turn age 65 for IP cover the date you cease to be a member of REST 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) the date a Terminal Illness Benefit becomes payable (except where you hold higher Death or TPD cover than the Terminal Illness benefit paid to you, in which case you will remain insured for the balance of either your Death or TPD cover until the earlier of any other cessation condition) the day you die, and in the case of Continued Cover: for members with TPD and/or IP Continued Cover, the date your account balance falls below $3,000 for members with Death only Continued Cover, the last Friday of the month in which your account balance is insufficient to cover that month s insurance costs in full in the case where Minimum Account Balance applies, the date your account balance falls below the Minimum Account Balance. Any excess insurance costs will be refunded. Continued Cover REST helps to keep you covered while you may be changing employers or in between jobs for a short period of time. This is what we refer to as Continued cover and is another feature of having your insurance cover with REST. If you terminate employment with a REST employer, your insurance cover (if any) will continue for 71 days after you were last At Work as advised under When your cover ceases (subject to the other conditions under When your cover ceases not applying). Your insurance cover will continue beyond the 71 days advised under When your cover ceases provided your account balance is sufficient. While your account balance remains above $3,000, your Death, TPD and IP cover (if any) will continue irrespective of whether or not you are working for a REST employer. If your account balance drops below $3,000, any TPD and IP cover will cease without notice. Any Death 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 cease without notice. REST Super Insurance Guide 13

14 You are responsible for ensuring your account balance is sufficient to maintain your insurance cover. If your account balance becomes insufficient to meet your monthly insurance costs, your cover will cease without notice. This is referred to as your cover having lapsed. Minimum Account Balance This condition applies to members not employed by a REST employer who wish to apply for cover. Where you are not employed by a REST employer you will need to have at least $500 in your account for Death cover to commence and $3,500 in your account for TPD and IP cover to commence, within 30 days of the insurer accepting your cover. If your account balance drops below $3,000 your TPD and IP cover will cease without notice. If, on the last Friday of the month, your account balance is insufficient to meet that month s insurance costs in full, your Death cover will cease without notice. Indexation of benefits and costs for Basic Cover To keep up with the cost of living, the level of Death, TPD and IP Basic benefit scales will increase each year (be indexed) by 5%. This will happen next at 1 January As a result of the increase in cover, insurance costs for Basic Units will also increase by 4.5% each year. This means that your Death and TPD insurance will automatically increase to help you keep up to date with cost of living increases. However, you will need to consider if this automatic increase is suitable for you, and to review your insurance when you have a significant change in circumstances. Automatic insurance cover reinstatement at age 25 Some members make decisions when they re young that are right for them at the time. But once you cancel insurance, you usually can t get it back without having to go through an underwriting process often including the provision of satisfactory medical evidence. We make it easy to get cover again later when it may be more relevant to you. For members who turn 25, if you have no insurance cover (zero units of Death, TPD and IP), irrespective of your employment status, we will automatically reinstate default Basic Cover upon receipt of the first mandatory employer contribution received for you that relates to a period of employment beginning on or after the beginning of the month in which you turn 25 and before you turn 26. If we don t receive a mandatory employer contribution before you turn 26, then this offer will expire and be unavailable to you in the future. Automatic reinstatement does not apply if you have any insurance cover. This means that you do not have to apply or provide medical evidence. You must be in Active Employment on the day your cover starts. If you are not in Active Employment on this date, Limited Cover will apply until you return to being in Active Employment for two consecutive months. Transferring insurance cover from another fund You have the opportunity to transfer any existing Death or TPD insurance cover you may hold with your previous super fund to your existing REST super account (subject to limits, conditions and approval). Go to rest.com.au and download an Insurance transfer form for details of how to request a transfer. Insurance cover when you change jobs If you change employers and your new employer contributes to REST for you, any insurance cover you have will automatically continue. If, as a result of Continued Cover account balance rules (see page 13), you have lost cover after ceasing employment, the type and the number of units of cover you had when you were last employed will be automatically reinstated when a new employer makes a mandatory employer contribution to REST for you. However, if you subsequently make any changes to your cover during a period of Continued Cover, then the type and the number of units of cover last applicable during this period will automatically continue when a new employer makes a mandatory employer contribution to REST for you. If your cover lapsed before 5 December 2008, the cover that is reinstated will be the default Basic Cover package set out on page 3 plus any Voluntary Cover that you previously had (conditions apply). Applying for cover / increased cover If, after reading this guide, you decide that you would like to apply for cover or increased cover, there is some additional information you need to be aware of: Accidental cover during assessment of your application While your application for insurance cover is being assessed by the insurer, you will be provided with interim Accidental Death, TPD and IP cover. This interim Accidental cover will apply at the increased level of cover being sought, 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 earlier of: the date your online underwriting application or Application for insurance is either accepted or declined by the insurer 90 days from the date we receive your online underwriting application or Application for insurance the date you cancel your online underwriting application or Application for insurance, or the date upon which a benefit becomes payable. 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 occurring before a certain time. The risk factors considered include: age and gender occupation medical history, current health and habits family medical history pastimes (including hazardous sports) residency. 14

15 The more information 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. 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. We do not offer cover with premium loadings. 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. See How to apply for cover on page 18 for health evidence requirements. Apply online to increase your insurance cover In three simple steps you can calculate how much cover you need, obtain a quote and apply for increased cover. Simply login to MemberAccess at rest.com.au and click on the Insurance tab to view your insurance options. Definitions Active Employment means being At Work and in the insurer s opinion not being restricted by sickness or injury from carrying out the identifiable duties of your employment, or the duties of your usual occupation each week on a fulltime basis, being at least 30 hours per week. At Work means being employed by a REST employer on a casual, temporary or permanent basis to carry out identifiable duties and actually performing those duties, or being on fully paid leave, except leave caused by sickness or injury. Gainful Employment means you are employed for gain or reward in any business, trade, profession or employment for at least ten hours per week. Incident Date: For Death cover, the incident date is your date of death. For TPD cover, the incident date means, for Part 1 of the definition, 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. For a Terminal Illness Benefit, the incident date is the later of the dates that two medical practitioners (one being a specialist in that particular medical field) certify you as being terminally ill and the certification period has not ended. For IP cover, the incident date is the first day of the 60 day Waiting Period. 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. Pre-Disability Income means the average gross monthly income earned by you over the 12 months (or if you have been employed for less than 12 months, over your period of employment) immediately before becoming totally disabled, indexed annually on the anniversary of the claim by the lesser of 5% and the annual change in Average Weekly Ordinary Time Earnings (AWOTE). If the change in AWOTE is zero or negative, there will be no indexation for that year. Waiting Period (for IP) means the sixty (60) consecutive day period that must expire after you become Totally Disabled before payment of the monthly benefit commences. The Waiting Period begins on the earlier of the date: a. you first consult a medical practitioner about the condition that is causing your Total Disability; and b. you first ceased work due to Total Disability provided this is not more than 7 days before you first consulted a medical practitioner and you provide reasonable evidence about when the Total Disability began. You may return to work for up to 10 days during the Waiting Period without re-commencing the Waiting Period. Payment of insured benefits 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. The insurer reserves the right to investigate your claim, and this may delay the payment of insured benefits. The payment of insurance benefits is also subject to any special conditions or exclusions that may apply to you. Cover while on leave without pay (including parental leave) Your insurance cover will continue on the same terms and conditions if you go on employer approved leave without pay from your REST employer or 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, and two years. Such cover will be provided automatically on the condition that your employer has approved the leave in writing prior to the commencement of such leave. Documented evidence of such approval and of your agreed and scheduled return to work date may be required. Upon the earlier of the two events set out above occurring, all cover will cease unless Continued Cover applies. Conditions may apply and you also need to ensure there is enough money in your account to meet 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 the later). Worldwide Cover Subject to the terms and conditions outlined in this guide, in particular the Cover while on leave and Exclusions sections on this page, you are covered 24 hours a day, 7 days a week and 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 for the purpose of their assessment of any Terminal Illness, TPD or IP claim for you. Exclusions Exclusions are conditions under which a benefit will not be paid due to certain circumstances. The insurer may impose special conditions or exclusions in relation to a particular member but there are also general exclusions, the main ones of which are summarised below. REST Super Insurance Guide 15

16 No Death, Terminal Illness, TPD or IP benefit will be payable if the benefit claim has been made arising directly from active service in the armed forces of any country or international organisation (other than the Australian Defence Forces Reserve). Further exclusions on your cover include: Death There is no payment of Voluntary Death cover benefits in respect to death by suicide within 13 months of the date cover commenced, recommenced, was reinstated or increased. Total and Permanent Disablement There is no payment of Voluntary TPD cover benefits for Total and Permanent Disablement caused by intentional self-inflicted injury, whether or not sane at the time. Income Protection There is no payment of Income Protection benefits for: a disability due to intentional self-inflicted injury (whether illegal or not) or any such attempt by the insured member, whether or not sane at the time normal pregnancy and childbirth. Limitations Death cover and TPD cover: A member who has received or is eligible to receive, a benefit on his or her total and permanent disablement or for Terminal Illness, whether under the current policy held by REST with AIA Australia, another policy issued to REST or pursuant to any other insurance or superannuation arrangement of any kind before the most recent date the member joined REST, will only be eligible for Limited Cover consisting of five units of Basic Death cover and five units of Basic TPD cover. IP cover: A member who has received, been admitted, or is eligible for a TPD benefit from REST or from another superannuation entity or life insurance policy before the most recent date that the member joined REST, will only be eligible for Limited Cover consisting of five units of Basic IP cover. 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 an existing REST Super account, a new account will not be created. If a duplicate account is identified in REST Super, these accounts will be merged into one account. If a duplicate account is not identified prior to you suffering a claim event, then at claims stage, the accounts will be merged and only one Death, Terminal illness, TPD or IP benefit will be payable. If the cover amounts are not identical between the accounts, the higher cover amount will be the insured amount. Cooling-off period Where you apply for insurance cover online or by completing the 'Application for insurance' 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 confirmation letter to cancel your application and have your previous level of cover (if any) reinstated, provided you have not exercised any rights under additional cover. Any difference in insurance costs between the old and the new cover will be adjusted. Any requests for reduction in your cover received after 14 days from the date of our confirmation letter will be effective from the date REST receives your request. Any previous types or levels of cover will not be reinstated and no retrospective adjustment to your insurance costs will apply. AIA Australia Privacy Statement Your privacy is important to AIA Australia Limited ( AIA Australia ). The privacy policy of AIA Australia sets out how your personal information is managed by them, and is available at aia.com.au/en/privacy-statement REST Privacy Statement Your privacy is also important to REST. Our privacy policy sets out how your personal information is managed by us, and is available at rest.com.au Terms and conditions of your insurance cover A 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 costs will be refunded and no insurance cover will apply for any period. The insurance information in this guide relates to the insurance contract that commenced with effect from 1 July 2013 as amended 1 July Provisions relating to insurance prior to this date may differ. Members who joined the Fund prior to 1 July 2014 must satisfy any relevant conditions applying from time to time to the member s insurance to be eligible for insurance cover or other benefits outlined in this guide. This document does not contain full details of the contract between REST and its insurer and only offers a general guide to the insurance offered by REST. The insurance is provided under a contract between the Trustee and AIA Australia Limited. If there is any conflict between this document and the insurance contract with AIA Australia, 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. 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 January 2016 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 regards to your objectives, financial situation and needs. You should read the Product Disclosure Statement for REST Super available at rest.com.au before making any decision about whether to acquire or to continue to invest in the product. When you become a member of REST Super you join the Retail Employees Superannuation Trust ABN REST Super is issued by the Trustee, Retail Employees Superannuation Pty Limited ABN , AFSL 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. 16

17 Registered office Level 7 50 Carrington Street Sydney NSW 2000 Further information If you need more information contact us at: REST Customer Service PO Box 350 PARRAMATTA NSW 2124 Phone Web rest.com.au Concerns and complaints REST is committed to providing the highest standard of client service and maintaining our reputation for honesty and integrity. If our service or product quality fails to meet your expectations please tell us about your concerns. REST s complaint management process aims to ensure your concerns are treated seriously and addressed promptly and fairly. Have concerns? We re here to help If you have a concern, please contact us to see if we can solve your problem immediately. If you are not happy with our initial response, then you can make a formal complaint. How do I make a complaint? You can make a formal complaint to REST by , letter or phone, noting that you wish to lodge a complaint. To lodge your complaint by with the subject line: Complaint To lodge your complaint by letter: Please address your concerns to: The Trustee Services Officer REST Industry Super PO Box 350 Parramatta NSW 2124 Please write Complaint on the envelope and the letter. To lodge your complaint by phone: Call us on between 8am and 8pm each weekday. How long will we take to respond to your complaint? REST is required to consider your complaint or dispute within 90 days of receiving it. We will acknowledge your complaint in this time, however, in some circumstances it may not be possible to completely resolve it within this period. If the Trustee has not made a decision within 90 days of receipt of your complaint you may write and request written reasons for REST's failure to make a decision within that period. Written reasons for not making a decision within 90 days of your inquiry or complaint must be given within 28 days of receipt of your request. In the case of a decision as to payment of death benefits the Trustee must give the member written reasons for our decision. In the case of a decision on other complaints the member may request written reasons. The Trustee must give the member the reasons within 28 days of receipt of the member's request. If we fail to respond to you within 90 days, or you are not satisfied with the outcome, you may be able to seek an independent ruling from the Superannuation Complaints Tribunal. REST Super Insurance Guide 17

18 Who is the Superannuation Complaints Tribunal? The Superannuation Complaints Tribunal (SCT) is an independent body set up by the Federal Government to settle certain disputes between members and their super funds. The SCT can only become involved after the Trustee s efforts at reaching agreement have failed (you must first use REST s dispute procedures). While sincere attempts will be made to help resolve differences between members and funds, in some instances the SCT may need to make a binding ruling. The SCT does not charge members for its service and can be contacted on How to apply for cover There are two ways to apply for cover: Apply online to increase your insurance cover Please ensure you have read and understood the information in this Insurance Guide before applying online to increase your insurance cover. In three simple steps you can calculate how much cover you need, obtain a quote and apply for increased cover. Simply login to MemberAccess at rest.com.au and click on the Insurance tab to view your insurance options. Complete the Application for insurance form Please ensure you have read and understood the information in this Insurance Guide before completing the Application for insurance form. For each type of insurance, the insurer may request further health and/or financial evidence to complete its assessment. Depending on the level of cover you are applying for, additional evidence may be needed to meet our insurer s underwriting requirements. Please refer to the following tables for any additional evidence you must provide: Death and TPD cover for applicants under age 45 Sum insured maximum # Up to $2,500,000 $2,500,001 $5,000,000 Above $5,000,000 Standard underwriting requirements Application for insurance Application for insurance, Blood test and Short Medical Examination Application for insurance, Blood test, Medical Examination, Stress Echocardiogram, PMAR, FBC Death and TPD cover for applicants aged 45 and over Sum insured maximum # Up to $1,250,000 $1,250,001 $1,500,000 $1,500,001 $5,000,000 Above $5,000,000 Income protection Sum insured maximum^ Standard underwriting requirements Application for insurance Application for insurance and Blood test Application for insurance, Blood test and Short Medical Examination Application for insurance, Blood test, Medical Examination, Stress Echocardiogram, PMAR, FBC, PSA (males over 50), Mammogram (females over 50) Standard underwriting requirements Up to $10,000 per month $10,001 $12,500 per month $12,501 $20,000 per month $20,001 $30,000 per month Application for insurance Application for insurance and Blood test Application for insurance, Blood test and PMAR Application for insurance, Blood test, PMAR and Short Medical Examination # Sum insured maximum is any amount for Death Cover and $5 million for TPD cover ($1 million for TPD if aged 65 to 69). ^ Sum insured maximum is $30,000 per month. Explanation of standard underwriting requirements A Blood test will include HIV, Hepatitis B and C serology and Multiple Biochemical Analysis 20. FBC means Full Blood Count. PMAR means Personal Medical Attendant s Report and is requested directly by the insurer from your doctor. PSA means Prostate Specific Antigen. Short Medical Examination consists only of a blood pressure test, height/weight details and a urine specimen. 18

19 Application for insurance REST Super You can complete an online version of this form quickly and easily in MemberAccess at rest.com.au Or, you can complete this form and mail it to us. Use this form to: apply for insurance cover increase your existing insurance cover Do not use this form if you wish to take up the Special limited offer for new members, reduce or cancel your insurance cover. Instead, go online to Member Access or call REST Customer Service on Please write in BLOCK LETTERS and use a BLACK or BLUE pen. Print X to mark boxes where applicable. Please ensure you have completed all relevant sections and provided additional evidence (if required). Please note: If there is not enough room on this form, please provide information on a separate sheet of paper and attach it. You have a duty to disclose information in an honest and accurate manner. The information you provide in this application form will be used by the Insurer to determine the type and level of insurance cover offered to you. If you provide misleading or inaccurate information you may experience delays upon lodging a claim or be determined ineligible to claim benefits. In some cases your insurance cover may be avoided or cancelled. If you need clarification about any issue or the nature of the questions asked in this application form, please seek independent assistance before completing and submitting this application. Once you have completed and signed this form, please mail to: REST Super, PO Box 350, Parramatta NSW Section 1: Personal details Member number (if applicable) Date of birth (dd/mm/yyyy) Gender (M/F) Mr/Mrs/Ms/Miss/Dr Surname Given name(s) Unit number Street number Street name Suburb/Town State Postcode Mailing Address (if different from above) Unit number Street number Street name Suburb/Town State Postcode Telephone (business hours) Mobile address Country of Birth Are you an Australian citizen or do you hold a visa that entitles you to reside permanently in Australia (as approved by the Department of Immigration and Citizenship)? If No, please advise what type of visa you hold. The Trustee company of Retail Employees Superannuation Trust ABN is Retail Employees Superannuation Pty Limited ABN , AFSL Registered Office: Level 7, 50 Carrington Street, Sydney NSW REST s current insurer is AIA Australia Limited ABN Australian Financial Services Licence Number: , trading as AIA Australia (Insurer). Issue date: 1 December 2015 Office Use Page 1 of 16

20 Section 1: Personal details Continued Your approximate gross annual salary from all sources, excluding investment income $,,. Employer name Type of industry Occupation/Job title Detailed description of duties performed Do you work in a: shop office warehouse factory other, please specify Are you a senior manager in a company with at least ten employees? Yes No Qualifications/membership of professional associations Section 2: Type and amount of cover Please refer to the How much insurance do you need? section of the REST Super Insurance Guide and the worksheet to help determine the level of insurance you may need. Alternatively, visit rest.com.au, go to Tools and calculators and use the REST Super insurance needs calculator. For Death, Total and Permanent Disablement (TPD) and Income Protection (IP) insurance below, please indicate the total amount of insurance cover you wish to apply for (please include any existing cover you already have in REST Super). For each cover type, only enter an amount if you wish to change the amount of insurance cover you have. Death Total Cover $,,. TPD Total Cover $,,. IP Total Cover (Per Month) $,,. Note that insurance cover is offered in units. Therefore, the amount you are applying for will be converted into units. The value of Basic Cover units changes with age and the value of Voluntary TPD Cover units decreases from age 60. Therefore the amount of cover you are applying for will vary in the future see below for more details. Insurance cover is offered in units. If the cover amount applied for doesn t match an exact number of units, we will round the cover you wish to apply for up to the next unit. The level of cover you may be offered will consist first of up to 5 units of Basic Cover and then Voluntary Cover units if higher cover is requested. For new members who have taken advantage of the special limited offer to increase your Basic Cover, any Voluntary Cover you are approved for will apply on top of your existing six or seven Basic Cover units. The cost of Basic Cover depends on your age. The cost of Voluntary Cover depends on your age, gender and occupation category. See the insurance cover and cost tables for Death, TPD and IP in the REST Super Insurance Guide for details. Office Use Page 2 of 16

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