Member Information Booklet - REI Super

More documents

Recommendations

Info

definition of ‘total and Permanent disablement (tPd)’ The Fund’s Trust Deed states that the definition of Total and Permanent Disablement is that in the Trustee’s insurance policy. This definition applies to members who hold TPD cover with REI Super. You suffer Total and Permanent Disablement if: A. When you are employed in permanent employment for at least 15 hours per week, or were employed in permanent employment for at least 15 hours per week within the 12 months prior to your date of disablement, and you: (i) suffer the permanent loss of use of 2 limbs or the sight of both eyes or the loss of use of one limb and the sight of one eye (where limb is defined as the whole hand or the whole foot); or (ii) have been absent from your occupation with your employer through illness or injury for 6 consecutive months, and have provided proof to the satisfaction of us that you have become incapacitated to such an extent as to render you unlikely ever to engage in or work for reward in any occupation or work for which you are reasonably qualified by reason of education, training or experience; or B. When you are employed less than 15 hours per week, or have not been in permanent employment for at least 15 hours per week within the 12 months prior to your date of disablement, and you: (i) suffer the permanent loss of use of 2 limbs or the sight of both eyes or the loss of use of one limb and the sight of one eye (where limb is defined as the whole hand or the whole foot); or (ii) through Illness or Injury, and having provided proof, to the satisfaction of us, are permanently unable to perform at least 2 of the following 6 basic activities of everyday living: > Bathing – to shower or bathe; > Dressing – to dress or undress; > Toileting – to use the toilet, including getting on and off; > Feeding – to eat and drink; > Mobility – to get out of a bed or a chair or a wheelchair; or > Continence – to control bladder and bowel function. If you can perform the activity by using special equipment, you will be considered able to undertake that activity; or (iii) through Illness or Injury, and having provided proof, to the satisfaction of us, you suffer from the permanent deterioration or loss of intellectual capacity that has required you to be under continuous care and supervision by another adult person for 6 consecutive months, and this care is likely to be ongoing on a permanent daily basis. page 30 ‘terminal illness’ means: A. a Medical Practitioner, specialising in your Illness, certifies in writing that despite reasonable medical treatment the Illness will lead to your death within 12 months of the date of the certification; and B. we are satisfied, on medical or other evidence, that despite reasonable medical treatment the Illness will lead to your death within 12 months of the date of the certification referred to in paragraph (a). * Medical Practitioner means a person who is registered and practising in Australia, other than you, your parent, child, sibling, spouse/partner, business partner, associate or employee. The Illness from which you suffer must occur, and the date of the certification referred to in paragraph (a) must be made while you are insured with REI Super and must be current at the time the claim is lodged. when death and tPd benefits are paid The Insurer pays insurance benefits to the REI Super Trustee. The insurance benefit then becomes payable in accordance with the Fund’s Trust Deed and superannuation laws. The Trustee must receive a claim for an insurance benefit as soon as possible after the event that triggers the claim. The Trustee will deal with the Insurer in relation to processing the claim, and if accepted, payment of the proceeds. The Trustee will require information in support of any claim. In the event that you make a claim, the Insurer reserves the right to investigate the claim, including but not limited to, conducting surveillance and requesting information and medical examinations. The Insurer will meet the cost of any surveillance or medical examinations. If you are travelling overseas, you may be required to return to Australia to be assessed for a TPD or Terminal Illness benefit. The Insurer will not pay for any costs relating to your return to Australia. Payment of a death benefit When you join the Fund or subsequently while a member of the Fund, you may nominate a dependant or dependants (see definition overleaf) to receive your benefit in the event of your death. The Trustee will take your wishes into account; however, it is not bound by your nomination(s). You may change your nominated dependant(s) at any time. Simply access your personal details through the secure membership section of the website at reisuper.com.au with your Member Number and PIN. You can also complete a Change of Membership Details form also available on the website. If you die while a member of the Fund, your Death benefits (your account balance plus any insured benefit) will be paid to one or more of your dependants or your legal representative.
‘dependant’ means a spouse and any child (including any child conceived but not yet born, an adopted child, a step-child or an ex-nuptial child) of a member at the time of the person’s death or other relevant time; and the term ‘Dependant’ will also extend at the absolute discretion of the Trustee to any other person deemed acceptable as a Dependant under the relevant law. If you die and your account has been inactive (i.e. no contributions or rollovers have been received) for at least two years or if REI Super is unable to ensure the Death benefit is received by the person who is entitled to receive the benefit after making reasonable efforts, it is required by law to pay the benefit to the Government as ‘unclaimed money’. overseas residence and travel If you a member of the Fund and are an Australian resident or New Zealand citizen residing overseas, you will be provided with cover in the Fund. If you are a member of the Fund but you are neither an Australian resident nor a New Zealand citizen residing overseas, we will provide cover whilst you remain overseas for a period of up to 90 days. You may be required by us to return to Australia at your own expense, if you were to lodge a claim, to be assessed for Total and Permanent Disablement, Total and Permanent Disablement by Accident, or Terminal Illness. No benefit will be paid for you if your Illness or Injury is directly or indirectly caused by war outside Australia. when cover ends Insurance cover for Death and TPD ends when any of the following occurs: > There are insufficient monies in your account to pay the insurance premium; > You reach 65 years of age; > You commence duty with the military services of any country (excluding the Australian Armed Forces Reserve where you are not on active duty outside of Australia); > You cease to be a member of REI Super; > The Insurer admits an insured benefit on your death or disablement; > You give written notice to the Fund to voluntarily cancel your insurance cover. Insurance cover for TPD also ends if: > 12 months has elapsed since the receipt date of the last ontime SG contribution made on your behalf by your employer; or > You are on unpaid leave for a period exceeding 12 months (see conditions under ‘Leave Without Pay’ following). page 31 Continuation of cover when you leave employment An Employer contribution is required at least every 12 months to maintain full insurance cover. Where you cease to be employed with an employer who is contributing your SG contributions to REI Super, your Death and TPD cover will continue for a period of 12 months. This is provided there are sufficient monies in your account to continue paying the insurance premiums. After a period of 12 months, if your contributions to REI Super have not recommenced from a new employer for you, your TPD and any SCI cover will cease and you will retain Death cover only. When SG contributions recommence for you, TPD cover will be reactivated in accordance with the guidelines below: > SG contributions recommence less than 18 months after they ceased and you are in Active Employment – You will have your TPD cover reinstated to the same number of TPD units you held on the day it first ceased. > SG contributions recommence more than 18 months after they ceased – you will be required to provide health evidence to reinstate TPD cover. Leave without Pay You will continue to be covered during a period of leave without pay from your employer for up to 24 months from the date the leave without pay commences. You need to request that your cover is retained for this period before the first 12 months of your leave without pay has passed; otherwise, your TPD and SCI cover will cease. Spouse cover When joining the Fund as a Spouse member you can elect to have Death cover only. This cover is subject to the provision of health evidence and underwriting by the insurer.
Page 1 and 2: ei Super elite member information b
Page 3 and 4: 1 About REI Super & REI Super Elite
Page 5 and 6: 2 How super works 2 How super works
Page 7 and 8: merge your super accounts with rei
Page 9 and 10: estrictions on cash payments Genera
Page 11 and 12: what are the benefits of being a me
Page 13 and 14: investment options REI Super Elite
Page 15 and 16: 5 How we invest your money 5 How we
Page 17 and 18: investment managers The investment
Page 19 and 20: ei Super elite diversified investme
Page 21 and 22: 6 Fees and costs 6 fees and costs I
Page 23 and 24: example of annual fees and costs fo
Page 25 and 26: 7 How super is taxed 7 How super is
Page 27 and 28: tax on contributions From 1 July 20
Page 29 and 30: 8 Insurance in your super Automatic
Page 31: Additional cover The maximum amount
Page 35 and 36: elite members fixed Cover rate of P
Page 37 and 38: when does cover end? Your insurance

Member Information Booklet - REI Super

Create successful ePaper yourself

Delete template?

Save as template?