Insurance fees

Affordable Insurance fees

We purchase insurance cover on behalf of more than 31,000 members, which means we’re able to offer low “group insurance” rates to our members. These fees are not generally available to individuals on the open market.

Insurance fees are paid through your super account

Your REI Super insurance fees are paid through your super account. So you don’t have to worry about paying another monthly bill and still have peace of mind knowing that you are covered.

Level of cover

We offer both unitised and fixed levels of cover. The insurance premiums you pay will differ depending on which level of insurance cover you take.

See more for income protection insurance fees.

Unitised cover 

With unitised cover, you pay a set price for each unit of cover you hold. However the value of the benefit will increase and decrease as you get older. Our default insurance covers a minimum of 4 units. You can increase your level of cover at any time to a maximum of 20 units.

  Death and TPD   Death only cover
Standard $1.50 per week $0.75 per week
Non-standard $2.93 per week $1.46 per week
  • Standard option - is available to members whose employer is a Participating Member – (where your employer uses REI Super as their default Superannuation Fund). 
  • Non- standard - Direct members (those members whose employer uses a different default Superannuation Fund) may still be eligible for the standard option depending on the type of work you do. If you are unsure call our financial advisers on 1300 13 44 33.

Examples of cover

Age at date of death or disablement Sum insured for 1 unit of cover ($) Sum insured for 4 units of cover ($) Sum insured for 20 units of cover ($)
20 62,500 250,000 1,250,000
25 74,000 296,000 1,480,000
30 104,000 416,000 2,080,000
35 104,000 416,000 2,080,000
40 91,750 367,000 1,835,000
45 55,000 220,000 1,100,000
50 27,000 108,000 540,000
55 14,025 56,100 280,500
60 4,900 19,600 98,000
65 nil nil nil

See full fees and details in our Insurance Guide (PDF).

Fixed cover 

With this option you can choose to keep your level of cover the same. However the amount you pay for the insurance increases as you get older.

Examples of cover

Age based rates – annual cost per $1,000 insured cover

Age attained as at 1 July prior to the
over
Death and TPD Death only
  Standard Non-standard Standard Non-standard
Age 35 or less 0.75 1.46 0.38 0.74
40 1.00 1.95 0.49 0.96
45 1.32 2.57 0.66 1.29
50 1.99 3.88 1.00 1.95
55 3.90 7.61 1.95 3.80
60 11.15 21.74 5.58 10.88
64 78.05 152.20 39.03 76.11

See full fees and details in our Insurance Guide (PDF).

How much insurance cover do you need?

Use our insurance calculator tool to make sure you have the right level of cover. If you have any questions call our friendly financial advisers on 1300 13 44 33.

TOOLS