We’re excited to give an update on how the move of Rest insurance to TAL is going.

In May 2019, we asked TAL Life Limited(TAL) to become our new life insurance provider. We’re excited to confirm the transfer to TAL is going well, and will happen in 2 phases. Since 2004, Rest’s insurance has been provided by AIA Australia Limited (AIA).

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We’re committed to providing affordable and flexible insurance to our members as part of their super, and we’re confident our new agreement with TAL represents best-possible value and experience for our members.

Phase 1 – Our new insurer
On 1 December 2019 we’re transferring all our members' insurance to the award-winning TAL*, with no change to their current insurance through to 31 March 2020.

Phase 2 – An updated insurance offer
From 1 April 2020, the Rest insurance offer and terms and conditions will change as we introduce a new insurance offering to Rest Super and Corporate members and employers.  Around 1 December, we’ll be in touch with all members who have insurance, many of whom need to make a decision before 1 April. Members who don’t have insurance, can find out more about what is changing.

Anyone who wants to lodge a claim or who are currently claiming, should not experience any difference as a result of moving to TAL -  it’s business as usual. If you have any questions, please contact your claims support specialist.

We continue to work closely with TAL, AIA and our administrator AAS to ensure a smooth transition of our insurance arrangements, as we aim to ensure the valuable benefits of insurance are accessible to our members.

Questions and Answers

As an award-winning life insurer, TAL insures around 4.5 million Australians and in 2018 paid almost $1.62 billion in claims to more than 26,000 Australians and their families. Through TAL, Rest will offer members an affordable way to access death, income protection and total and permanent disablement insurance through their super.
At Rest, we regularly review our insurance arrangements to ensure we are always providing the best-possible value to members. Started in May 2018, we evaluated our current insurance offering, and began a comprehensive tender process with possible insurance providers.

We chose TAL following this tender process, because we believe their insurance offering represents great value to our members and strongly aligns with Rest’s strategic goal to improve our relationship with our members through innovation
Rest are working with TAL to implement a new insurance offer for members, starting 1 April 2020. We’ll be in touch with members who have insurance around 1 December, to let them know the details of the new insurance. From 1 December 2019, members can continue to review their insurance at rest.com.au/memberaccess.

Rest’s size allows us to negotiate and provide insurance cover at the best-possible value to members. We’re committed to providing simple, flexible cover, representing real value for money.
While the changeover to TAL will be handled by Rest, we may ask members to make a decision on the type of insurance they’d like to keep, or if they want to cancel their insurance. We’ll be in touch with members who have insurance around 1 December to let them know about next steps.
Current claimants should not experience any difference because of this. If a member is currently receiving an insurance benefit, or is in the process of lodging a claim, it’s business as usual. For any concerns, please contact your claims support specialist.

To submit a claim, just lodge it in the usual way through rest.com.au/member/manage/insurance-and-claims and we’ll let the appropriate insurer know.

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* ANZIIF Australian Insurance Industry Awards 2018 – Life Insurance Company of the Year Winner. Awards and ratings are only one factor to consider when deciding how to invest your super. More information on these awards can be found at www.tal.com.au/about-us/who-we-are/awards-and-recognition.

This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394 (Fund), of which Rest Super, Rest Corporate, Rest Pension and Acumen are part. It contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available on this website. The cost of providing financial services is included in the fees in the Fund as disclosed in the relevant PDS. Rest and the Fund do not charge any additional fees or obtain any commissions for the advice provided. Rest’s employees are paid a salary and do not receive any commissions. They may receive a performance related bonus that takes into account the financial services provided. Super Investment Management Pty Limited (ABN 86 079 706 657, AFSL 240004), a wholly owned subsidiary company of Rest, manages some of the fund’s investments. Apart from this, Rest does not have any relationships or associations with any related body corporate or product issuer that might reasonably be expected to be capable of influencing Rest in providing financial services.

Rest personal advice is provided by Rest Advisers as authorised representatives of Link Advice Pty Ltd ABN 36 105 811 836 AFSL 258145

Awards and ratings are only one factor to consider when deciding how to invest your super. Further information regarding these awards can be found at rest.com.au/about-rest/awards. Past performance is not an indicator of future performance. SuperRatings Pty Limited does not issue, sell, guarantee or underwrite this product. Go to superratings.com.au for details of its ratings criteria. For further information about the methodology used by Chant West, see www.chantwest.com.au