• The place to find the right expertise and make better decisions
  • Find the right expertise

l have just received an email from REST super stating that due to govt legislation l will automatically lose my insurance cover on 1 July 2019, unless l choose to keep it.I am not working and have not for some years.What is the best thing to do?

3 months ago

Responses

Hi Lynn, it will depend on the type of cover you have in your Rest super. If it's life insurance and you believe you need it, you can contact Rest and let them know you would like to keep it active. This will need to be done each year for the fund to keep it active.
If you have Life and TPD cover, you may want to consider whether you need the TPD as you are not working. (TAP claims are based on your ability to work ever again, which is hard if you aren't actually working). I hope that helps.

Hi Lynne,

I just shared a video on exactly this topic.

https://youtu.be/83fCziR63EA

You can elect to keep the insurance if you want to. But if you don’t elect to keep it, it will be cancelled from July 1.

All the best.
James


3 months ago

Thanks Paul and James for your answers.l think l will just keep life insurance for now

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>