Member Information Booklet - REI Super

Additional cover
The maximum amount of cover for Elite members is the greater
of 20 units or $2.08 million of the Insured Benefit Scale and the
Fixed Cover Scale as per the tables on pages 32 and 33.
If you submit a request for more than 6 units of cover within
6 months of date you joined Fund, or you apply for any amount
of additional cover after this time, you will be required to provide
health evidence. The Insurer may accept your application, apply
exclusions, accept your application for Death cover but decline
or restrict your TPD insurance, or reject your application.
You can apply for additional cover online simply by logging
in to your REI Super account at reisuper.com.au and going to
the insurance area. Fast and simple, your online insurance
application should take less than 10 minutes to complete.
You will normally receive an immediate decision on your
application. Where additional information is required by
the Insurer, your application is immediately forwarded to a
dedicated underwriter who will contact you on your preferred
telephone number and time.
You may also vary your insurance cover by completing an
Adjusting your insurance cover form, together with a Personal
Statement to be assessed by the Fund Insurer. Please note
however, that completing a paper-based application may take
longer to be processed than if you apply online.
If you are permanently employed and working at least 15 hours
per week, you can apply for SCI at the same time (see page 33).
Accidental death or disablement cover
When you provide evidence of health, you will be provided
with accidental Death and, if you are applying for TPD cover,
accidental Disability cover up to the amount that you elect while
being assessed by the Insurer. This cover commences when the
Insurer receives a fully completed application from you.
This cover will apply until the earliest of the following events:
> You have been accepted or rejected by the Insurer for cover; or
> You have withdrawn the request for cover; or
> 90 days have passed since the date your application was
received.
This cover will be limited to the lesser of the amount of cover
being assessed; and $1.5 million.
Limited Cover
If on the date you first became eligible for insurance cover you
were not in Active Employment (see right), your insurance cover
will be limited to an illness that first becomes apparent or an
injury that first occurs on or after the date your insurance cover
commenced, is increased or recommenced.
If you have been granted Limited Cover by the Insurer due to
not being in Active Employment, the Limited Cover restrictions
will be removed after you have been in Active Employment for
a period of 30 consecutive days, unless you joined the Fund
more than 6 months after being first eligible. In that case,
Limited Cover will continue for a period of at least 12 consecutive
months, after which time Full Cover commences if you are in
Active Employment.
page 29
Active employment
‘Active employment’ means you are employed by an employer
and capable of performing your identifiable duties without
restriction by any Illness or Injury for at least 35 hours per week
(whether or not you are actually working those hours).
Life events benefit
You may elect to increase your cover by 1 unit without the Insurer
assessing you, upon undergoing one of the following events:
a. getting married;
b. adopting or becoming the natural parent of a child; or
c. obtaining a mortgage on a newly purchased property in
which you intend to reside immediately after its purchase.
You must apply for and provide evidence that any of the above
events has taken place no more than 3 months prior to your
application, and you must be in Active Employment on the
date of the application, and employer contributions are being
received by the Fund.
Where you are not in Active Employment on the day we receive
your application to increase cover, Limited Cover will apply to
the amount of the increase in cover until you return to Active
Employment for 30 consecutive days.
You can only opt to increase your cover under this option once,
and your total cover cannot exceed the maximum of 20 units.
Necessary supporting documentation is as follows:
event
Accepted Certified
document
notes
marriage Marriage Certificate Marriage must have
occurred no more than
3 months before your
application under Life
Events.
birth or
Adoption
of Child
Birth Certificate or
Adoption Papers
mortgage Contract of Sale,
financier papers,
building contract,
Title Deed AND
Proof of address
Birth or Adoption must
have occurred no
more than 3 months
before your application
under Life Events
Purchase must have
occurred no more
than 3 months before
your application under
Life Events. Proof of
address required
to validate that the
purchase is for your
primary residence.