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Our Future Saver insurance product, which was recently recognised by Chant West as the 2024 Best Fund: Insurance*, is improving.  

Having already been recognised by Chant West for our affordable and flexible default insurance, easy digital journeys and high claim admittance rates, we’ve made more changes from 1 September 2024. 

What's changing?

  • Reduced the cost of insurance overall by 21% across our three cover types:  
    • Death (including terminal illness)  
    • Total and Permanent Disablement (TPD)  
    • Income Protection (IP) except for cover with an age 65 benefit period. 
  • Increased the amount of IP cover that your clients may be able to apply for through our IP Express and Basic Plus Cover quick cover options. 
  • Removed the supporting evidence requirements for Life Events cover applications and now allow members to apply for Life Events cover upon reaching 30, 40 and 50 years of age. 

Super Helpful 

Watch this video for super helpful tips on how to review your insurance risk category online. 

To find out more about the changes, you can view the Significant Event Notice here. 

Update your insurance category

Your insurance category can change how much you pay for your insurance. It’s important that you know your insurance category and change it, if necessary, to align with your occupation.

If you’ve joined Aware through an application made by your employer, then you will have the same insurance category as your employer.

There are four insurance categories which reflect the different level of risk associated with the type of occupation you have. The cost of insurance increases through the professional, low risk, medium risk and high risk insurance categories.

If the insurance category you have received from your employer is different from the insurance category that aligns with your individual occupation, the category may not be appropriate for you.

You can apply to review your insurance category online at any time by following the steps in this video.

Step 1: Login to Member Online. If you’ve never logged in before, you’ll need your member number to register for online access.

Step 2: Click on the “Insurance” tab.

Step 3: On the Insurance page, select “Change insurance category”.

Step 4: On the next page, select “Change your existing insurance category”.

Step 5: Read and acknowledge the “Duty to take reasonable care” statement.

Step 6: Update your details, including your income and occupation. Your insurance category rating updates on the screen automatically once you update your occupation. Then select ”Continue”.

Step 7: Review your responses, including the keep your insurance election. Then select ”Submit application”.

Step 8: Read the insurance declaration, then select ”Accept and submit”.

Once you have completed your application, you will receive and application number. We will update the insurance category for you and send you a letter to confirm your change and the new cost of your insurance.

Thank you for choosing Aware Super. If you need further assistance, please visit aware.com.au forward slash insurance or call us on 1300 650 873.

* Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West Awards issued 22 May 2024 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Awards are current for 12 months and subject to change at any time. Awards for previous years are for historical purposes only. Full details on Chant West Awards at chantwest.com.au/fund-awards/about-the-awards. 

General advice only. Consider your objectives, financial situation, or needs, which have not been accounted for in this information and read the PDS and TMD at aware.com.au/pds before acting. Issued by Aware Super Pty Ltd (ABN 11 118 202 672, AFSL 293340) trustee of Aware Super (ABN 53 226 460 365)." 

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