Insurance in your super

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1 Insurance in your super Fact sheet Information in this fact sheet is current as at 1 July 2015 Contents Overview 1 What is Life cover? 5 How your Life cover works 6 When is your insured benefit payable? 16 Additional important information about Life cover 18 What is Income Protection cover? 19 How your Income Protection cover works 20 When is your Income Protection benefit payable? 26 Additional important information about Income Protection cover 29 General information 31 Glossary 33

2 The information in this document forms part of the Member Booklet dated 1 July 2015 for the RBF Tasmanian Accumulation Scheme. You should read the Member Booklet in conjunction with this Fact sheet. This Fact sheet is a summary of significant information and contains references to other important information in Fact sheets each of which forms part of the Member Booklet marked by the {. You should read and consider that information before making a decision in relation to the RBF Tasmanian Accumulation Scheme. To obtain copies of the Member Booklet or the Fact sheets (free of charge) visit our website at or call the RBF Enquiry Line on Issued by the Retirement Benefits Fund Board (ABN ), the trustee of the Retirement Benefits Fund (RBF) (ABN ). The information in this Fact sheet is of a general nature only. It does not take into account your personal objectives, financial situation or needs. Accordingly, before acting on the contents of this Fact sheet or the Member Booklet, you should consider whether it is appropriate to you, having regard to your objectives, financial situation and needs. You should consider speaking with a financial adviser before making any decisions about this product. If you would like personal financial advice, you can call to book an appointment with a Financial Planner at RBF Financial Planning Pty Ltd (ABN , AFS Licence No ). RBF Financial Planning Pty Ltd is a wholly owned subsidiary of the RBF Board and operates as a separate legal entity from RBF. The Retirement Benefits Fund Board is not licensed to provide financial advice to RBF members. The Retirement Benefits Fund Board does not accept responsibility for any financial advice or services provided by RBF Financial Planning Pty Ltd because RBF Financial Planning Pty Ltd is solely responsible for any financial advice or financial services it provides. If you would like general information about your super you can make an appointment with one of RBF s Superannuation Consultants, simply contact the RBF Enquiry Line on At RBF, we strive to provide accurate and up-to-date information to our members. However, things may have changed since the date of publication of this Fact sheet. Information contained in this Fact sheet that is not materially adverse may be updated at any time without prior notification to you. Updated information can be downloaded from our website at A hard copy will also be posted free of charge by calling the RBF Enquiry Line on The privacy of your personal information is important to RBF. We understand the need for confidentiality. RBF will hold your personal information securely and use it only for the purposes described in the RBF Privacy Policy available at Your personal information including sensitive health information may be transferred between RBF, RBF s administrator Mercer Outsourcing (Australia) Pty Ltd (ABN , AFSL ), RBF Financial Planning Pty Ltd (ABN , AFSL ) and the Colonial Mutual Life Assurance Society Limited (ABN , AFSL ) trading as Commlnsure, the Insurer.

3 Overview The information in this Fact sheet is based on the cover available under RBF s insurance product which took effect on 17 December If your illness or injury occurred before that date, you may be eligible for cover under a different insurance product. More information about claims for medical conditions occurring before 17 December 2012 can be found on page 4 of this Fact sheet. Please contact the RBF Enquiry Line on to discuss whether you are eligible for the cover outlined in this Fact sheet. The RBF Tasmanian Accumulation Scheme automatically provides Basic insurance cover to the following categories of eligible members: 1 eligible Tasmanian public sector employees; and 2 eligible former RBF defined benefit scheme members. Basic insurance cover includes: Basic Death and Total and Permanent Disablement cover; and Basic Income Protection cover. Basic insurance cover is provided without you having to supply any health information. However your insurance cover is subject to certain limitations and exclusions which are described in further detail in this Fact sheet. There is more information about Basic Death and Total and Permanent Disablement cover on page 5 and Basic Income Protection cover on page 19. In addition, the RBF Tasmanian Accumulation Scheme offers Voluntary Death and Total and Permanent Disablement cover, Voluntary Death only cover and Voluntary Income Protection cover to all eligible members with an RBF Investment Account. All Voluntary cover is subject to acceptance of underwriting by the Insurer. All insured members may, subject to acceptance of underwriting by the Insurer, increase the amount of their insurance cover or vary the type of insurance cover. Similarly all insured members may reduce or cancel their insurance cover. All insurance cover offered by the RBF Tasmanian Accumulation Scheme is subject to the terms and conditions of Group insurance policies issued by the Colonial Mutual Life Assurance Society (CommInsure) to the RBF Board (the trustee) who is the owner of each insurance policy. We will refer to these policies as the Group Life Insurance Policy and Group Income Protection Insurance Policy, as applicable, throughout this Fact sheet. The Group Life Insurance Policy provides cover for Death, Terminal Illness and Total and Permanent Disablement and the Group Income Protection Policy provides Income Protection insurance cover. Some terms used in this Fact sheet have special meanings. Where a term has a special meaning it will appear in dark blue and the meaning for that term can be found in the Glossary section on page 33. Eligibility for Basic cover Eligible Tasmanian public sector employees You are eligible for Basic insurance cover as an eligible Tasmanian public sector employee, if all of the following apply: 1 you are a member of the RBF Tasmanian Accumulation Scheme; 2 you are an employee of an approved Tasmanian public sector employer, for example a State Government Agency, Statutory Authority or Government Business Enterprise, or an approved seconding employer; 3 your Tasmanian public sector employer (or seconding employer) must pay compulsory Superannuation Guarantee contributions to your RBF Investment Account; 4 you must be less than age 70 in the case of the Life cover offered by RBF; and 5 you must be less than age 65 in the case of the Income Protection cover offered by RBF. Insurance in your super Fact sheet 1

4 Eligible former RBF defined benefit scheme members You are eligible for Basic insurance cover as an eligible former RBF defined benefit scheme member, if all of the following apply: 1 you were a Tasmanian public sector employee and contributor to one of the following RBF defined benefit schemes as at 16 December 2012: a the Contributory Scheme; b the State Fire Commission Superannuation Scheme; c the Tasmanian Ambulance Service Superannuation Scheme; d the Parliamentary Superannuation Fund; or e the Parliamentary Retiring Benefits Fund; 2 if you are not already a member of the RBF Tasmanian Accumulation Scheme, you must immediately join the RBF Tasmanian Accumulation Scheme after ceasing employment with your Tasmanian public sector employer and contributory membership of your RBF defined benefit scheme; 3 you must elect to transfer all of the funded component (1) of your RBF defined benefit to your RBF Investment Account in the RBF Tasmanian Accumulation Scheme on or after 17 December 2012; and 4 at the date of transfer, you must be less than age 70. (1) The funded component is the amount transferred from a defined benefit member s lump sum benefit to their RBF Investment Account after any deduction for: the lump sum cost (purchase price) of a Contributory Scheme Life Pension if the member has elected to convert part of their Contributory Scheme lump sum entitlement to a Contributory Scheme Life Pension; the amount transferred to an RBF Account Based Pension (or RBF Transition to Retirement Account Based Pension) if the RBF Account Based Pension is purchased directly from the RBF defined benefit scheme; and any cash payment made directly from the unrestricted non-preserved component of the defined benefit to the member. If you are an eligible former RBF defined benefit scheme member, you will automatically receive Basic Death and Total and Permanent Disablement cover. If, on cessation of membership of one of the RBF defined benefit schemes, you choose to transfer any part of the funded component of your RBF defined benefit to another super fund, you will not be eligible to receive Basic Death and Total and Permanent Disablement cover however you may apply for Voluntary cover, subject to acceptance of underwriting by the Insurer. Eligibility for Voluntary cover All eligible RBF Investment Account members may apply for Voluntary Death and Total and Permanent Disablement cover, Voluntary Death only cover, and Voluntary Income Protection cover. You must satisfy the following when applying for Voluntary cover: 1 you must be a member of the RBF Tasmanian Accumulation Scheme; 2 you must have an open RBF Investment Account; 3 in the case of Voluntary Death and Total and Permanent Disablement cover and Voluntary Death only cover, you must be less than age 70; and 4 in the case of Voluntary Income Protection cover, you must be less than age 65. Underwriting for Voluntary cover When applying for Voluntary cover, you will be required to complete a Personal Statement. Subject to your personal circumstances and the amount of cover sought, you may be asked to provide additional information to enable the Insurer to complete their underwriting assessment. When assessing your application for Voluntary cover the Insurer may: 1 accept your application on standard terms. In which case the terms and conditions and insurance premiums detailed in the most recent version of this Fact sheet will apply to your cover. 2 accept your application on non-standard terms. In which case the Insurer may impose certain restrictions and limitations on your Voluntary cover. In addition, the Insurer may apply a premium loading in recognition of the increased insurance the Insurer takes by accepting your application for cover. An extra premium (premium loading) will apply in addition to the insurance premiums detailed in the most recent version of this Fact sheet. 3 decline your application. In which case you will not be eligible to receive the insurance cover being sought. Please note the following important information If you have Basic insurance cover and your application to increase your Voluntary insurance cover is accepted on non-standard terms, the non-standard terms will only apply to your Voluntary cover and will not impact your Basic insurance cover. If you have Basic insurance cover and your application to increase your Voluntary cover is declined, you will still have your Basic insurance cover. If you had Basic Insurance cover, and you subsequently voluntarily decided to reduce or cancel your Basic insurance cover, any subsequent application to increase your cover is subject to acceptance by the Insurer. 2 Insurance in your super Fact sheet

5 Types of cover in the RBF Tasmanian Accumulation Scheme This section provides a summary of the different types of cover available. More information about each of these types of cover is available in this Fact sheet, as noted by the page references. Life cover There are three categories of Life cover as follows: Basic Death and Total and Permanent Disablement cover; Voluntary Death and Total and Permanent Disablement cover; and Voluntary Death only cover. Death cover: provides for the payment of an insured lump sum in the event that RBF and the Insurer (where applicable) determine that you are suffering from a Terminal Illness or you pass away whilst you are an insured member. There s more information about Death cover on page 5. Total and Permanent Disablement cover: provides for the payment of an insured lump sum in the event that RBF and the Insurer (where applicable) determine that you are totally and permanently disabled. There is more information about Total and Permanent Disablement cover on page 5. The Life cover offered by RBF is unitised. There is more information about this on page 6. You may, subject to acceptance by the Insurer, convert your unitised Life cover to an equivalent fixed dollar amount. There is more information about this on page 11. Income Protection cover There are two categories of Income Protection cover as follows: Basic Income Protection cover; and Voluntary Income Protection cover. Basic Income Protection cover is automatically provided to members who are eligible Tasmanian public sector employees. There is more information on Basic Income Protection cover on page 19. All eligible RBF Investment Account members may apply for Voluntary Income Protection cover. All Voluntary Income Protection cover is subject to acceptance of underwriting by the Insurer for members applying on or from 17 December There is more information on Voluntary Income Protection cover on page 19. Income Protection cover provides for the payment of a monthly benefit in the event that RBF and the Insurer (where applicable) determine that you are unable to work due to a Total Disability or Partial Disability but you are not totally and permanently disabled. The Basic Income Protection benefit automatically includes a benefit payment period of two years and a waiting period of 90 days. You may subject to acceptance of underwriting by the Insurer apply to: 1 extend the benefit payment period to five years or to age 65; or 2 shorten the waiting period to 30 days or 60 days. There is more information about Income Protection cover including information relating to benefit payment periods and waiting periods on page 19. Insurance in your super Fact sheet 3

6 Some important things you should know about your insurance cover Limited cover If, on the commencement of your Basic Death and Total and Permanent Disablement cover or Basic Income Protection cover, you are not in active employment due to the existence of a sickness or injury, your Basic Death and Total and Permanent Disablement cover or Basic Income Protection cover is restricted to limited cover until you return to active employment with your employer for two consecutive months. If you are an eligible Tasmanian public sector employee and you do not become an insured member within 120 days of commencing your employment with your Tasmanian public sector employer, your Basic Death and Total and Permanent Disablement cover or Basic Income Protection cover is restricted to limited cover for two years. During the limited cover period you will only be covered for claims arising from a sickness which first becomes apparent or an injury that first occurs on or after the date your Basic Death and Total and Permanent Disablement cover or Basic Income Protection cover last started or recommenced. Claims for medical conditions occurring before 17 December 2012 whilst you are on limited cover If you had Death and Total and Permanent Disablement cover or Income Protection cover immediately before 17 December 2012 and you were not in active employment at this date, the increased portion of your Basic Death and Total and Permanent Disablement cover or Basic Income Protection cover on and from 17 December 2012 will be limited cover until you have returned to active employment with your employer for two consecutive months. If you die or make a claim for the payment of a Death, Terminal Illness, Total and Permanent Disablement or Income Protection benefit when you have limited cover for the increased portion of your Basic insurance cover and the primary cause of your claim is related to a pre-existing medical condition that occurred or became first apparent before 17 December 2012, the amount of your Basic Death and Total and Permanent Disablement or Basic Income Protection cover may be determined in accordance with former RBF Tasmanian Accumulation Scheme rules and not as described in this Fact sheet. Once you returned to active employment with your employer for two consecutive months after 17 December 2012, your cover will be full cover and the amount of your Basic Death and Total and Permanent Disablement cover or Basic Income Protection cover will be the amount detailed in this Fact sheet. Please contact the RBF Enquiry Line on to discuss whether your claim is eligible for the cover described in this Fact sheet. Varying your cover You may apply to vary the amount and type of Death and Total and Permanent Disablement cover, Death only cover and Income Protection cover that you hold. All increases to the amount of your insurance cover or variations to the type of insurance cover (other than those specified for Basic cover) are subject to acceptance of underwriting by the Insurer. Depending on the type of request, you may be required to: complete a Personal Statement as to your health; and provide additional information if requested by RBF and the Insurer. You can reduce or cancel your insurance cover at any time by completing and returning the Insurance Variation form. For example, you may choose to have Death only cover and Income Protection cover. There s more information about changing your Life cover on page 10 and changing your Income Protection cover on page 21. How much cover do I need? As a general principle, you will need to determine the amount of cover that will be required to enable you or your dependants to maintain your current standard of living in the event of your Death, Terminal Illness or Total and Permanent Disablement. In addition, you will need to consider how you will obtain income in the event you suffer from an injury or sickness which prevents you from working and receiving income from your employer (where this injury or sickness does not constitute Total and Permanent Disablement). You may wish to consider the following factors when determining the amount of Death and Total and Permanent Disablement cover and Income Protection cover you require (please note this is not an exhaustive list): your age, income and accrued retirement savings; your health; your lost future income and super retirement benefits in the event of your death or total and permanent disablement; your lost income in the event you are temporarily disabled and no longer receiving income from your employer; your assets including investments; your spouse s age and income; the age and financial needs of any dependent children; your current financial commitments such as mortgages and personal loans; your current and expected future living expenses; and medical and funeral expenses. Determining how much Death and Total and Permanent Disablement cover and Income Protection cover is appropriate to your circumstances is an important personal decision. RBF recommends that you consider obtaining specific personal financial advice from a financial adviser. If you would like personal financial advice, you can call to book an appointment with an RBF Financial Planner from RBF Financial Planning Pty Ltd (ABN , AFS Licence No ). 4 Insurance in your super Fact sheet

7 What is Life cover? There are three categories of Life cover. The table below provides a summary of the insured events and eligibility criteria for each category of Life cover. Category of Life cover Basic Death and Total and Permanent Disablement cover Voluntary Death and Total and Permanent Disablement cover Voluntary Death only cover Insured events Death or Terminal Illness Total and Permanent Disablement Death or Terminal Illness Total and Permanent Disablement Death or Terminal Illness Eligibility criteria You must be an: eligible Tasmanian public sector employee and your public sector employer must pay Superannuation Guarantee contributions to your RBF Investment Account; or eligible former RBF defined benefit scheme member. All eligible RBF Investment Account members may apply for Voluntary cover. Eligible RBF Investment Account members include: Spouse RBF Investment Account holders; former RBF defined benefit scheme members; former Tasmanian public sector employees who have retained benefits in their RBF Investment Account; current members who are eligible Tasmanian public sector employees; and current members of any RBF defined benefit scheme. Death and Total and Permanent Disablement cover Basic and Voluntary Death and Total and Permanent Disablement cover provide for the payment of an insured lump sum amount in the event of your: Death; or Terminal Illness; or Total and Permanent Disablement. In the event that you make a claim for the payment of a Terminal Illness benefit, both RBF and the Insurer (where applicable) must be reasonably satisfied, on the basis of medical and other evidence, that you satisfy all conditions for the payment of an insured Terminal Illness benefit. The definition of Terminal Illness is detailed on page 16. In the event that you make a claim for the payment of a Total and Permanent Disablement benefit, both RBF and the Insurer (where applicable) must be reasonably satisfied, on the basis of medical and other evidence, that you satisfy at least one of the four conditions for payment of an insured Total and Permanent Disablement benefit. The definition of Total and Permanent Disablement is detailed on page 16. Voluntary Death only cover Voluntary Death only cover provides for the payment of an insured lump sum amount in the event of your death or Terminal Illness. The eligibility criteria for payment of a Terminal Illness benefit can be found on page 16. There is more information about Voluntary Death only cover on page 10. Please note the following important information If you have Voluntary Death only cover and you do not have any Death and Total and Permanent Disablement cover, and RBF determines that you satisfy the criteria for payment of a Total and Permanent Disablement benefit, you will not be eligible for payment of an insured lump sum amount because you do not have Death and Total and Permanent Disablement cover. In these circumstances your Total and Permanent Disablement benefit will be the balance of your RBF Investment Account. When Life cover starts This section explains when your Life cover starts. Basic Death and Total and Permanent Disablement cover Eligible Tasmanian public sector employees Your Basic Death and Total and Permanent Disablement cover starts from the later of the following dates: the date that you commenced employment with your Tasmanian public sector employer; or the commencement of the first pay period on which RBF receives the first Superannuation Guarantee contribution from your Tasmanian public sector employer; or the date you joined the RBF Tasmanian Accumulation Scheme. Eligible former RBF defined benefit scheme members Your Basic Death and Total and Permanent Disablement cover starts on the date the entire amount of your funded RBF defined benefit is transferred to your RBF Investment Account. Any Voluntary Death and Total and Permanent Disablement cover or Voluntary Death only cover that you have immediately before the transfer date will continue to apply. Insurance in your super Fact sheet 5

8 Please note Basic Death and Total and Permanent Disablement cover will be restricted to limited cover if you are not in active employment on the date your employment ceased with your former RBF Tasmanian public sector employers. You can read the important information about limited cover on page 4. Basic cover where you have claimed or are eligible to claim a Total and Permanent Disablement benefit If, on the commencement of your Basic Death and Total and Permanent Disablement cover, you have been paid a Total and Permanent Disablement benefit or you are eligible to be paid a Total and Permanent Disablement benefit from RBF or any other super fund or life insurance policy, your Basic Death and Total and Permanent Disablement cover will be restricted to limited cover. That is, you will not be covered for Total and Permanent Disablement arising from or relating to your pre-existing medical condition. Information about limited cover can be found on page 4. When Voluntary cover starts The start date for Voluntary Death and Total and Permanent Disablement cover and Voluntary Death only cover is the date the Insurer notifies RBF in writing of their acceptance of your application for Voluntary Death and Total and Permanent Disablement cover and/or as the case requires Voluntary Death only cover. How your Life cover works The Life cover offered by RBF is unitised. This means that the amount of your Life cover will vary according to: the number of units of Basic Death and Total and Permanent Disablement cover you hold; the number of units of Voluntary Death and Total and Permanent Disablement cover you hold; the number of units of Voluntary Death only cover you hold; your age next birthday; and the underlying value of one unit of Death and Total and Permanent Disablement cover for your age next birthday. You may convert your unitised Life cover to an equivalent amount of fixed dollar cover. There is more information about fixed dollar cover on page 11. Maximum cover The maximum amount of Life cover you can have is $5 million for Death cover (which includes Terminal Illness cover) and $3 million for Total and Permanent Disablement cover. This applies to both unitised and fixed dollar cover. This means that you can choose to have a higher amount of insured Death cover than insured Total and Permanent Disablement cover. However the amount of your insured Total and Permanent Disablement cover cannot exceed your Death cover. Basic Death and Total and Permanent Disablement cover If you have Basic Death and Total and Permanent Disablement cover, you automatically receive the following number of units for your age next birthday on and from the cover start date: Age next birthday Up to age 30 Age 31 to 40 Age 41 to 70 Number of units 3 units 4 units 5 units The number of units applicable to each age group represents the automatic acceptance limit for Basic Death and Total and Permanent Disablement cover. The automatic acceptance limit is the maximum amount of cover you can receive without being required to provide additional evidence regarding your health. The number of units you hold will automatically increase by one unit on each of your 30th and 40th birthdays. This additional unit of cover is provided to you without you having to provide any additional medical evidence. Please note the following important information You are not entitled to the automatic increase in Basic Death and Total and Permanent Disablement cover if you reduce your Basic Death and Total and Permanent Disablement cover or convert your cover to fixed dollar cover. 6 Insurance in your super Fact sheet

9 Amount of cover Calculating your Basic Death and Total and Permanent Disablement cover You can simply determine the amount of your Basic Death and Total and Permanent Disablement cover using Table 1 below as follows: 1 locate your age next birthday in first column of Table 1; and 2 using the row appropriate to your age next birthday look up the amount in the fourth column of Table 1 below. Table 1 Units of Death and Total and Permanent Disablement cover (2) Your age next birthday Value of one unit Number of units Amount of cover 17 $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $121,000 3 $363, $115,600 3 $346, $110,100 4 $440, $105,000 4 $420, $100,400 4 $401, $91,000 4 $364, $84,300 4 $337, $77,500 4 $310, $71,200 4 $284, $64,400 4 $257, $57,200 4 $228, $50,600 4 $202, $45,300 5 $226, $40,600 5 $203, $36,400 5 $182, $32,800 5 $164, $29,600 5 $148, $26,900 5 $134, $24,000 5 $120, $21,700 5 $108, $19,200 5 $96, $17,100 5 $85, $15,100 5 $75,500 (2) If you also have units of Death only cover, the value of one unit of cover is the same as one unit of Death and Total and Permanent Disablement cover, however the cost of the unit of cover is reduced. There is more information about Voluntary Death only cover on page 10. Insurance in your super Fact sheet 7

10 Table 1 Units of Death and Total and Permanent Disablement cover (2) continued Your age next birthday Value of one unit Number of units Amount of your cover 52 $13,500 5 $67, $12,100 5 $60, $10,800 5 $54, $9,700 5 $48, $8,800 5 $44, $8,100 5 $40, $7,400 5 $37, $6,800 5 $34, $6,100 5 $30, $5,600 5 $28, $5,100 5 $25, $4,700 5 $23, $4,200 5 $21, $3,800 5 $19, $3,400 5 $17, $3,100 5 $15, $2,700 5 $13, $2,500 5 $12, $2,200 5 $11,000 (2) If you also have units of Death only cover, the value of one unit of cover is the same as one unit of Death and Total and Permanent Disablement cover, however the cost of the unit of cover is reduced. There is more information about Voluntary Death only cover on page 10. Voluntary Death and Total and Permanent Disablement cover All eligible RBF Investment Account holders may apply for Voluntary Death and Total and Permanent Disablement cover. Subject to acceptance by the Insurer, you can tailor the amount of your Death and Total and Permanent Disablement cover to suit your personal circumstances by: increasing the number of units of Voluntary Death and Total and Permanent Disablement cover you hold; and increasing the number of units of Voluntary Death only cover you hold; or alternatively, you may convert your units of cover to fixed dollar cover. For more information about fixed dollar cover see page 11. Calculating your Voluntary Death and Total and Permanent Disablement cover If you have purchased units of Voluntary Death and Total and Permanent Disablement cover, you can calculate the amount of your cover using Table 1 as follows: locate your age at next birthday in the first column of Table 1; using the row appropriate to your age next birthday, look up the value of one unit of Death and Total and Permanent Disablement cover in the second column of Table 1; and multiply the value of one unit of Death and Total and Permanent Disablement cover by the number of units of Voluntary cover you currently hold or, as the case requires, by the number of units of cover you are applying for. 8 Insurance in your super Fact sheet

11 Let s take a look at some examples of how cover is calculated Example 1 Basic Death and Total and Permanent Disablement cover Sally is aged 36 and is an eligible Tasmanian public sector employee who recently commenced employment with her Tasmanian public sector employer. Her employer contributes Superannuation Guarantee contributions to Sally s RBF Investment Account. On joining the RBF Tasmanian Accumulation Scheme, Sally s Basic Death and Total and Permanent Disablement cover will be $284,800. This calculation is shown in the table below: Type of insurance cover Basic Death and Total and Permanent Disablement cover Units of cover Value of one unit at your age next birthday $71,200 (see the second column of Table 1 for age next birthday of 37) Amount of cover 4 (see the third column of Table 1 for age next birthday of 37) $284,800 (4 x $71,200, see the fourth column of Table 1 for age next birthday of 37) There is further information relating to the cost of Basic Death and Total and Permanent Disablement cover on page 12. Example 2 Voluntary Death and Total and Permanent Disablement cover Jessie is 39 years old and has a Spouse RBF Investment Account. Jessie successfully applies for three units of Voluntary Death and Total and Permanent Disablement cover. The amount of Jessie s Voluntary Death and Total and Permanent Disablement cover is $151,800 calculated as follows: Type of insurance cover Voluntary Death and Total and Permanent Disablement cover Units of cover Value of one unit at your age next birthday 3 $50,600 (see the second column of Table 1 for age next birthday of 40) Amount of cover $151,800 (3 x $50,600) There is further information relating to the cost of Voluntary Death and Total and Permanent Disablement on page 12. Example 3 Basic and Voluntary Death and Total and Permanent Disablement cover Anna is 38 and is an eligible Tasmanian public sector employee with Basic Death and Total and Permanent Disablement cover. Anna currently has four units of Basic Death and Total and Permanent Disablement cover with an insured value of $228,800. If Anna successfully applies for two units of Voluntary Death and Total and Permanent Disablement cover her total Death and Total and Permanent Disablement cover will increase to $343,200 as follows: Type of insurance cover Basic Death and Total and Permanent Disablement cover PLUS Voluntary Death and Total and Permanent Disablement cover Units of cover 4 (see the third column of Table 1 for age next birthday of 39) Value of one unit at your age next birthday $57,200 (see the second column of Table 1 for age next birthday of 39) 2 $57,200 (see the second column of Table 1 for age next birthday of 39) Amount of cover $228,800 (4 x $57,200, see the fourth column of Table 1 for age next birthday of 39) $114,400 (2 x $57,200) EQUALS total cover 6 $57,200 $343,200 (6 x $57,200) Insurance in your super Fact sheet 9

12 On Anna s 40th birthday, the number of units of Basic cover she holds will automatically increase to five units provided that she has not reduced her number of Basic units of cover. Assuming Anna has continued to maintain her Voluntary cover, Anna s Death and Total and Permanent Disablement cover will be $317,100 as follows: Type of insurance cover Basic Death and Total and Permanent Disablement cover PLUS Voluntary Death and Total and Permanent Disablement cover Units of cover 5 (see the third column of Table 1 for age next birthday of 41) Value of one unit at your age next birthday $45,300 (see the second column of Table 1 for age next birthday of 41) 2 $45,300 (see the second column of Table 1 for age next birthday of 41) Amount of cover $226,500 (5 x $45,300, see the fourth column of Table 1 for age next birthday of 41) $90,600 (2 x $45,300) EQUALS total cover 7 $45,300 $317,100 (7 x $45,300) Voluntary Death only cover You may, subject to acceptance by the Insurer, apply for Voluntary Death only cover. Voluntary Death only cover is unitised. If you already have Basic Death and Total and Permanent Disablement cover and/or Voluntary Death and Total and Permanent Disablement cover you can increase the amount of your Death cover by purchasing additional units of Death only cover. The value of one unit of Death only cover is the same as one unit of Death and Total and Permanent Disablement cover, however the cost of each unit of Death only cover is lower. There is more information about the cost of Voluntary Death only cover on page 12. If you already have fixed dollar Death and Total and Permanent Disablement cover you may apply to increase your fixed Death only cover amount. You may choose to convert all or part of your Basic and Voluntary Death and Total and Permanent Disablement cover to Voluntary Death only cover. Please be aware that if you convert all of your cover to Voluntary Death only cover you will no longer be insured for Total and Permanent Disablement. If you decide later on that you would like to reapply for Total and Permanent Disablement cover, you will have to provide acceptable health evidence to the Insurer. Interim Accident cover You are provided with Interim Accident cover while the Insurer assesses your application for Voluntary Death and Total and Permanent Disablement cover or Voluntary Death only cover. This means, that if you die or become totally and permanently disabled as a result of an accident whilst your request for Voluntary cover is being assessed, the benefit you receive will include Interim Accident cover. The amount of Interim Accident cover is limited to the lesser of the following amounts: $1 million dollars less the amount of any existing insured Basic cover and Voluntary cover; and the amount of Voluntary Death and Total and Permanent Disablement cover or Voluntary Death only cover requested. An accident means a bodily injury caused solely and directly by accidental, external and visible means, independent of any other cause. Your Interim Accident cover will end on the earlier of the following dates: the date that the Insurer accepts your application for Voluntary cover on standard or non-standard terms with or without any premium loadings, exclusions or special conditions; the date the Insurer declines your request for Voluntary cover; the date that you cancel or withdraw your request for Voluntary cover; the date that the Insurer cancels the Interim Accident cover; or 120 days after the date that the Insurer receives your application for Voluntary cover. 10 Insurance in your super Fact sheet

13 Life Events cover Have your circumstances changed? If your personal circumstances have changed, it may be time to review your insurance cover. Upon the occurrence of one of the following Life Events, you can increase your insurance cover without having to provide any additional health evidence: marriage; divorce; the birth or adoption of a child; your child starts primary or secondary school for the first time; you take out a new mortgage to purchase your home (please note this condition is not satisfied if you are refinancing an existing mortgage on your home, or are purchasing an investment property); or your spouse dies. You must increase your Death and Total and Permanent Disablement cover by the same amount. Any restrictions applying to your current insurance cover will also apply to any increased cover. Your insurance premium will also increase in line with the cost of your increased cover. Please note the following conditions apply to Life Events cover: 1 you can only increase your cover as a consequence of Life Events cover once; 2 your application for Life Events cover must be made within 60 days of its occurrence and the event must be earlier than: a the date of your Death, diagnosis of a Terminal Illness or as the case requires date of disablement in the case of Total and Permanent Disablement cover; or b the date your insurance cover ended; 3 the amount of the increase in your cover is limited to the lesser of: a the amount of your existing Death and Total and Permanent Disablement cover; or b $200,000. If your Life cover is unitised cover, the amount of insured cover provided is rounded down to the nearest number of whole units of cover that is less than $200,000; 4 if you are not in active employment at the time of the increase in cover, your cover in relation to the increased cover will be limited cover; and 5 any limitation, restriction or premium loading that applies to your existing Death and Total and Permanent Disablement cover will also apply to the increased insurance cover. For more information about limited cover, please see page 4. You can apply for Life Events cover by completing and returning the Life Events cover form which can be downloaded from the RBF website at or you can call the RBF Enquiry Line on to request a copy of the form. Conversion to fixed dollar cover If you have unitised Death and Total and Permanent Disablement cover or Death only cover, you may, subject to acceptance by the Insurer, convert this cover to a fixed dollar amount. You must convert all of your unitised cover to fixed dollar cover. You may convert your Death and Total and Permanent Disablement cover and Death only cover to a fixed dollar amount without providing health evidence provided that the amount of fixed dollar cover is equivalent to the value of your existing unitised cover. Please note that if the amount of your Basic Death and Total and Permanent Disablement plus any Voluntary cover is not in multiples of $1,000, the value of the fixed dollar to which your unitised cover is converted to is rounded up to the next multiple of $1,000. You can request fixed dollar cover when you make your application for Voluntary Death and Total and Permanent Disablement cover. Please note your insurance cover is subject to acceptance by the Insurer. If you have selected fixed dollar cover, you may at a later date convert your cover to unitised cover. Please note that when you convert your cover from fixed dollar cover to unitised cover, if the whole amount of fixed dollar cover is less than a whole unit of cover, the cover will be rounded up to the next whole number of units of cover. How fixed dollar cover works Once you have chosen fixed dollar cover, the amount of Death and Total and Permanent Disablement cover (or if applicable Death only cover) will not change unless you apply for an increase. However, unlike unitised cover, the premium you pay will increase as you age. If you have Death and Total and Permanent Disablement, for the purpose of the Total and Permanent Disablement cover (but not the Death only cover) the amount of the fixed dollar cover will reduce in accordance with the table below, once you have turned 60. Age next birthday % of fixed dollar insured benefit payable in the event you make a successful Total and Permanent Disablement claim % 61 90% 62 80% 63 70% 64 60% 65 to 70 50% Insurance in your super Fact sheet 11

14 Transferring your cover from other funds to RBF You may be able to transfer the Life cover you had in your previous super fund to RBF without the need to provide the Insurer with all the health and other evidence you would usually provide when applying for Voluntary Death and Total and Permanent Disablement cover or Voluntary Death only cover. You are only able to transfer Life cover associated with another super fund. You cannot transfer personal or retail life insurance cover. All transferred cover is subject to acceptance by the Insurer and there are a number of conditions which must be met including: you must be in active employment; you must roll over your super benefit from your previous fund to your RBF Investment Account and you must have agreed to waive any right or entitlement to continue your cover under the previous policy; you must not have received or you must not be eligible for the payment of a Total and Permanent Disablement benefit from the previous super fund; the Insurer must be satisfied that you are not suffering from a Terminal Illness; any exclusions, special conditions or premium loadings that applied to your previous cover will also apply to your transferred cover; the maximum amount of Death and Total and Permanent Disablement cover transferred when added to any existing Life cover cannot exceed $2 million; and the maximum amount of Total and Permanent Disablement cover transferred cannot exceed the Death cover transferred. To rollover your benefits to your RBF Investment Account, simply log in to the member secure website. Navigate to the Contributions > Rollovers/ Transfer-in page and complete the Online rollover request form. You will need a few details for the fund(s) you wish to consolidate and you can find these details on your previous fund s statement. Alternatively you can complete the RBF Tasmanian Accumulation Scheme Rollover form available on our website or by contacting the RBF Enquiry Line on You can make an application to transfer your Life cover from your previous super fund by completing the Insurance Transfer form which can be obtained by visiting the RBF website at or you can request a copy of the form by calling the RBF Enquiry Line on Cost of Death and Total and Permanent Disablement cover Risk categories There are three categories for Death and Total and Permanent Disablement cover: ; Medium ; and Low. On commencement of insurance cover, all insured members will receive cover in the category. Insured members can then, if eligible, apply to the Insurer to change their category to Low or Medium. If the Insurer accepts the insured member s application, the new category will apply from the date the Insurer accepts your application for the lower category. The table below defines each category. Risk category Medium Low Description You will automatically be allocated to the category upon commencement of Death and Total and Permanent Disablement cover. You may fall within the Medium category if you satisfy the following criteria: the duties of your occupation are limited to managerial, administrative, clerical, secretarial or similar white collar nature tasks which do not involve manual work or teaching and are undertaken entirely within an office environment (excluding travel time from one office environment to another). You may fall within the Low category if you satisfy all of the following criteria: the duties of your occupation are limited to managerial, administrative, clerical, secretarial or similar white collar nature tasks which do not involve manual work or teaching and are undertaken entirely within an office environment (excluding travel time from one office environment to another); and you earn in excess of $100,000 per annum; and either: you hold a Tertiary qualification or you are a member of a professional institute or registered government body; or you are in a management role. You are in a management role if: you are part of the management of your employer; your salary from your employer is greater than $100,000 per annum; and you work in an office building in a sedentary capacity. A Tertiary qualification includes a university Degree, Graduate Certificate, Advanced Diploma and/or a Diploma. Once you are accepted for a Low or Medium category, you are not required to notify RBF if your category changes unless you later apply to increase your insurance cover. You can make an application to change your category by completing the Insurance Variation form which can be obtained by visiting the RBF website at or you can request a copy of the form by calling the RBF Enquiry Line on Insurance in your super Fact sheet

15 What is the cost of a unit of cover? If the category applies to your cover, the cost of one unit of Death and Total and Permanent Disablement cover is $1 per week. The cost per unit for Death only cover is $0.63 per unit per week. There s more information about Death only cover on page 10. All insurance premiums are deducted from your RBF Investment Account on a monthly basis. If your application for a lower category is accepted by the Insurer, your premiums will be reduced in accordance with the table below. Risk category Premium as a percentage of category Cost of one unit of Death and Total and Permanent Disablement cover per week Cost of one unit of Death only cover per week 100% $1.00 $0.63 Medium 80% $0.80 $0.50 Low 70% $0.70 $0.44 Let s take a look at some examples of how premium costs are calculated Example 4 Basic Death and Total and Permanent Disablement cover Sally is 36 and she has four units of Basic Death and Total and Permanent Disablement cover with an insured value of $284,800 (please refer to Example 1 on page 9). For each category, the cost (premiums) of Sally s Basic Death and Total and Permanent Disablement cover is calculated as follows: Death and Total and Permanent Disablement cover Risk category Units Cost of one unit per week Units Death only cover Cost of one unit per week 4 $ $0.63 $4.00 (4 x $1.00) If accepted 4 $ $0.50 $3.20 by Insurer as Medium (4 x $0.80) If accepted by the Insurer as Low 4 $ $0.44 $2.80 (4 x $0.70) Death and Total and Permanent Disablement premium Weekly Annual $ $ $ Example 5 Voluntary Death and Total and Permanent Disablement cover Jessie is 39 and has three units of Voluntary Death and Total and Permanent Disablement cover with an insured value of $151,800 (please refer to Example 2 on page 9). For each category, the cost of Jessie s Voluntary Death and Total and Permanent Disablement cover is calculated as follows: Death and Total and Permanent Disablement cover Risk category Units Cost of one unit per week Units Death only cover Cost of one unit per week 3 $ $0.63 $3.00 (3 x $1.00) If accepted 3 $ $0.50 $2.40 by Insurer as Medium (3 x $0.80) If accepted by the Insurer as Low 3 $ $0.44 $2.10 (3 x $0.70) Death and Total and Permanent Disablement premium Weekly Annual $ $ $ Insurance in your super Fact sheet 13

16 Example 6 Basic and Voluntary Death and Total and Permanent Disablement cover Anna is 38 and has four units of Basic Death and Total and Permanent Disablement cover and two units of Voluntary Death and Total and Permanent Disablement cover with an insured value of $343,200 (please refer to Example 3 on page 9). For each category, the cost (premium) of Anna s Basic and Voluntary Death and Total and Permanent Disablement cover is calculated as follows: Death and Total and Permanent Disablement cover Risk category Units Cost of one unit per week Units Death only cover Cost of one unit per week 6 $ $0.63 $6.00 (6 x $1.00) If accepted 6 $ $0.50 $4.80 by Insurer as Medium (6 x $0.80) If accepted by the Insurer as Low 6 $ $0.44 $4.20 (6 x $0.70) Death and Total and Permanent Disablement premium Weekly Annual If Anna had two units of Voluntary Death only cover, the cost of Anna s Basic Death and Total and Permanent Disablement cover and Voluntary Death only cover is calculated as follows for each category: Death and Total and Permanent Disablement cover Risk category Units Cost of one unit per week Units Death only cover Cost of one unit per week 4 $ $0.63 $5.26 [(4 x $1.00) + (2 x $0.63)] If accepted by Insurer as Medium If accepted by the Insurer as Low 4 $ $0.50 $4.20 [(4 x $0.80) + (2 x $0.50)] 4 $ $0.44 $3.68 [(4 x $0.70) + (2 x $0.44)] $ $ $ Death and Total and Permanent Disablement premium Weekly Annual $ $ $ In this case, Anna s insured Death cover will be $343,000 (six units of cover x $57,200) and her insured Total and Permanent Disablement cover will be $228,800 (four units of cover x $57,200). 14 Insurance in your super Fact sheet

17 What is the cost of fixed dollar cover? Table 2 shows the annual premium rates for each $1,000 of fixed dollar cover using the category. If the Medium category applies to your cover, the annual cost of your fixed cover is 80% of the category cost. If the Low category applies to your cover, the annual cost of fixed cover is 70% of the category cost. Table 2 Premium rates for every $1,000 of fixed Life cover Annual premium per $1,000 cover Annual premium per $1,000 cover Your age next Death and Total Death only Your age next Death and Total Death only birthday and Permanent Disablement birthday and Permanent Disablement 17 $0.43 $ $1.59 $ $0.43 $ $1.76 $ $0.43 $ $1.94 $ $0.43 $ $2.17 $ $0.43 $ $2.40 $ $0.43 $ $2.72 $ $0.43 $ $3.05 $ $0.43 $ $3.46 $ $0.43 $ $3.87 $ $0.43 $ $4.31 $ $0.43 $ $4.83 $ $0.43 $ $5.38 $ $0.43 $ $5.93 $ $0.45 $ $6.44 $ $0.47 $ $7.05 $ $0.50 $ $7.67 $ $0.52 $ $8.55 $ $0.57 $ $9.32 $ $0.62 $ $10.23 $ $0.67 $ $11.10 $ $0.73 $ $12.42 $ $0.81 $ $13.73 $ $0.91 $ $15.35 $ $1.03 $ $16.83 $ $1.15 $ $19.33 $ $1.29 $ $20.87 $ $1.43 $ $23.72 $14.94 Example 7 Premium costs of fixed Death and Total and Permanent Disablement cover Using Example 3 on page 9, assume Anna, who is aged 38, elects to covert six units of Death and Total and Permanent Disablement cover with an insured value of $343,200 to fixed Death and Total and Permanent Disablement cover of $344,000. The annual premium would be $ assuming the category applies. This amount is calculated as follows: Annual premium EQUALS the amount of Death and Total and Permanent Disablement cover divided by $1,000 multiplied by the age next birthday premium rate for Death and Total and Permanent Disablement cover multiplied by the premium as a percentage of the relevant category Annual premium = $344,000 $1,000 x $0.91 x 100% Annual premium = $ If the Insurer accepts that the Medium category applies, Anna s annual premium would be $ ($ x 80%). If the Insurer accepts that the Low category applies, Anna s annual premium would be $ ($ x 70%). Insurance in your super Fact sheet 15

18 When is your insured benefit payable? Death benefit If you die whilst you have Death cover and you have not made an election for your Death benefit to be paid to your estate, your Death benefit will be paid to: a your surviving spouse; or b if there is no surviving spouse, the person who is your registered carer under Part 2 of the Relationships Act 2003 (TAS); or c if there is no person referred to in a or b above, to your estate. Your surviving spouse is a person who RBF is satisfied that at the time of your death: a was your spouse living with you on a genuine domestic basis and was receiving significant financial support from you; or b if there is no person referred to in paragraph a, was your spouse and was living with you on a genuine domestic basis; or c if there is no person referred to in the above paragraphs a or b, was your spouse and was not living with you on a genuine domestic basis but was receiving significant financial support from you. Your spouse also includes a person of the same or the opposite sex with whom you have a significant relationship as a couple and you are not married to one another or related by family. Terminal Illness benefit If you have Death cover you may qualify for payment of an insured Terminal Illness benefit if: two registered medical practitioners have certified that you suffer from an illness, or injury that is likely to result in your death within a period (the certification period) that ends not more than 12 months after the date of the certification; at least one of the registered medical practitioners is a specialist practising in an area related to the illness or injury from which you suffer; for each of the certificates, the certification period has not ended; and RBF and the Insurer (where applicable) are satisfied from the medical or other evidence, and despite reasonable medical treatment, the Terminal Illness is likely to lead to your death within 12 months of the date of the certification. Your Terminal Illness must be diagnosed and certification must occur while you are insured for Terminal Illness. Total and Permanent Disablement benefit If you have Total and Permanent Disablement cover you may qualify for the payment of an insured Total and Permanent Disablement benefit if you satisfy one of the following criteria: 1 you suffer, as a result of illness or injury: i the total and permanent loss of the use of two limbs; ii blindness in both eyes; or iii the total and permanent loss of the use of one limb and blindness in one eye; OR where: a limb means in respect of paragraph i above the whole hand below the wrist or whole foot below the ankle; and b blindness means, in respect of paragraph ii above the permanent loss of sight to the extent that visual acuity is 6/60 or less, or to the extent that the visual field is reduced to 20 degrees or less of arc. 2 you are, as a result of illness or injury, totally unable to perform without the physical assistance of another person any two of the following activities of daily living: i dressing the ability to put on and take off clothing; ii toileting the ability to use the toilet, including getting on and off; OR iii mobility the ability to get in and out of bed and on and off a chair; iv continence the ability to control bowel and bladder function; v feeding the ability to get food from a plate into the mouth; and you are permanently and irreversibly unable to do so for life. 3 all of the following paragraphs i, ii, iii and iv apply to you: i you were on the date of disablement, aged 65 years or less; ii you are absent from all work as a result of suffering cardiomyopathy, primary pulmonary hypertension, major head trauma, Motor Neurone Disease, Multiple Sclerosis, Muscular Dystrophy, Paraplegia, Quadriplegia, Hemiplegia, Diplegia, Tetraplegia, Dementia and Alzheimer s disease, Parkinson s disease, blindness, loss of speech, loss of hearing, chronic lung disease or Severe Rheumatoid Arthritis (each as defined in the medical conditions definitions set out in the Glossary of this Fact sheet); iii RBF and the Insurer (where applicable) consider, on the basis of satisfactory medical and other evidence, that you are unlikely ever to be able to engage in any occupation whether or not for reward; and iv you are likely to be so disabled for life; 16 Insurance in your super Fact sheet

19 Where occupation means an occupation that you can perform, on a full-time basis if employed on a full-time basis prior to the date of disablement, or part-time basis, if employed on a part-time basis prior to the date of disablement, based on the skills and knowledge that you have acquired through previous education, training or experience. OR 4 all of the following paragraphs i, ii, iii and iv apply to you: i you were employed or engaged by an employer at any time in the four month period ending on the date of disablement; ii you were, on the date of disablement, aged 65 years or less; iii as a result of illness or injury, you have been absent from all work for three consecutive months from the date of disablement; and iv RBF and the Insurer (where applicable) consider, on the basis of satisfactory medical and other evidence, that you are unlikely ever to be able to engage in any occupation, whether or not for reward; Where occupations means an occupation that you can perform, on a full-time basis if employed on a full-time basis prior to the date of disablement, or part-time basis, if employed on a part-time basis prior to the date of disablement, based on the skills and knowledge that you have acquired through previous education, training or experience. The date of disablement means the later of: 1 the date on which a medical practitioner examines you and certifies in writing that you are suffering from the illness or injury that is the principal cause of your disablement; and 2 the date you cease all work. However: i if the definition of Total and Permanent Disablement for which a claim is made is that set out under paragraph 1 of the definition, date of disablement means the date on which a medical practitioner examines you and certifies in writing that you suffer from one of the conditions set out under that paragraph 1. ii if you participate in a rehabilitation program and are incapable of returning to work within 12 months from the date that you commenced your absence from work, the date of disablement is the date that would have applied if you had not participated in the rehabilitation program. The date of disablement must occur while you have insurance cover for Total and Permanent Disablement. Please note the following important information If, when making a claim for payment of insured Total and Permanent Disablement benefit, the date of disablement is more than four months from the date you were last employed or engaged by an employer, paragraph 4 of the definition of Total and Permanent Disablement does not apply. Your Death, Terminal Illness and Total and Permanent Disablement benefits If you die, suffer from a Terminal Illness or you suffer from a Total and Permanent Disablement and you have Life cover for the specified event, any lump sum insurance proceeds received from the Insurer by RBF on your behalf will be credited to your RBF Investment Account. Your final RBF benefit will be the balance of your RBF Investment Account which will include any lump sum insurance proceeds RBF has received in respect of your Life cover. If you have no Life cover or you have no insurance cover for the specified event, you will not be entitled to the payment of any insured benefits. However, if you satisfy the eligibility criteria for the payment of benefits on the grounds of Terminal Illness or Total and Permanent Disablement, you will be entitled to a benefit equal to the balance of your RBF Investment Account. Benefit options You or surviving spouse may: use all or part of the lump sum to purchase an RBF Account Based Pension; convert all or part of the lump sum to an RBF Life Pension (subject to eligibility criteria); cash all or part of the lump sum; or do any combination of the above. If your Death benefit is paid to your registered carer or estate, it must be paid as a lump sum and cannot be converted into an income stream. More information about RBF s pension products can be found in our Fact sheet: Pensions. Go to or call the RBF Enquiry Line on to obtain copies of these Fact sheets. Decreasing your cover You can choose to decrease your level of Death and Total and Permanent Disablement cover whether it s unitised cover or a fixed dollar amount at any time by completing and returning an Insurance Variation form which can be downloaded from the RBF website at or you can request a copy of the form by calling the RBF Enquiry Line on You can choose to cancel your Total and Permanent Disablement cover and maintain Death only cover. Alternatively, you can cancel your cover entirely by notifying RBF in writing or by completing and returning an Insurance Variation form which can be downloaded from the RBF website at or you can request a copy of the form by calling the RBF Enquiry Line on Insurance in your super Fact sheet 17

20 Additional important information about Life cover What happens when you cease employment? If you cease employment with your Tasmanian public sector employer, your Death and Total and Permanent Disablement cover will automatically continue, provided premiums continue to be paid. When your Death and Total and Permanent Disablement cover stops Your Death and Total and Permanent Disablement cover stops on the earliest of the following: the day you reach age 70; the date that your insured Terminal Illness or Total and Permanent Disablement benefit becomes payable to you; the date you notify RBF that you wish to cancel your cover; the date you join the armed forces (excluding the Australian Armed Forces Reserve); the date you cease to be a member of the RBF Tasmanian Accumulation Scheme and an RBF Investment Account holder; the day you die; or the date the balance of your RBF Investment Account reaches zero for more than 30 days. Exclusions The following exclusions apply to your RBF Life cover: War exclusion A benefit will not be paid if you die and your death is caused directly or indirectly by war. However, this does not exclude the payment of a benefit if you die whilst on war service. The same exclusions apply for Terminal Illness and Total and Permanent Disablement cover and benefits will not be paid if your Terminal Illness or Total and Permanent Disablement are caused directly or indirectly by war. Pandemic illness exclusion You may not be entitled to the payment of Death cover if: on the date your insurance cover commences, recommences or increases, you are suffering from a pandemic illness which is the subject of a notice issued by the Insurer to RBF; and you die from the pandemic illness within 30 days of your insurance cover commencing, recommencing or increasing (in which case, only the increased benefit is not payable). A pandemic illness means an illness which is the subject of a pandemic illness alert, advisory notification, declaration or other similar publication issued by: the Australian Government (including a relevant Australian Government department, authority, minister or officer); or the World Health Organisation. Suicide exclusion If your cover commences with limited cover a suicide exclusion will apply. Under the suicide exclusion you will not be entitled to an insured benefit for Death, Terminal Illness and Total and Permanent Disablement benefit if: within 13 months of your cover starting or recommencing, you die due to suicide; or within 24 months of your cover starting or recommencing, you are diagnosed with Terminal Illness or become Totally and Permanently Disabled as a result of intentional selfinflicted injury or attempted suicide. Worldwide cover You are covered under the Group Life Insurance Policy if you are overseas. There is no time limit on overseas absence under this policy assuming that an end of cover provision (as described on this page) has not occurred and the policy is still in force. Leave without pay You re covered under the Group Life Insurance Policy if you take leave without pay. There is no time limit on absence under this policy assuming that an end of cover provision (as described on this page) has not occurred and the policy is still in force. 18 Insurance in your super Fact sheet

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