Compare types of insurance
Insurance can help protect you and your family if something unexpected happens. The type of cover you choose may depend on your lifestyle and your future. Insurance through super can help you:
- if you lose your income because you become sick or injured
- if you become permanently disabled and are unlikely ever to work again
- if you become terminally ill or die.
We offer three types of cover
Quick ways to get insurance
Simple ways to apply for cover without medicals.
Our Basic Cover gives you:
- death cover, and
- total and permanent disablement cover.
If you are eligible, you can apply for this cover at any time by answering some simple questions, or you may get it automatically.
Basic Plus Cover gives you double the Basic Cover amount.
If you are eligible, you can apply for Basic Plus Cover at any time by answering some simple questions. When you apply for Basic Plus Cover, you can also include income protection cover.
Another simple way to apply for income protection cover if you don’t already have it, is to apply through IP Express.
To apply, you’ll need to answer some simple questions about your employment, health and lifestyle.
Life events can be occasions such as getting married, having a child or buying your own home.
I want to
You can cancel or reduce your insurance at any time. You can do this through your Member Online account.
If you have insurance with another company or super fund, you can apply to transfer it to us. You cannot apply to transfer and then keep your old insurance. Learn more about transferring your cover.
You can apply for insurance through Aware Super. You’ll need to answer several questions about your employment, health and lifestyle. Learn more about applying for cover.
We’ve made the claim process as simple as possible. And we’re here to guide you from start to finish.
Access health support services
You and your family can access these services at no extra cost. These include:
- help with your mental health
- nutrition and diet
- physical fitness
- support in times of grief.
You can use them at any time, even if you’re not receiving insurance benefits.
Find out more about insurance costs
The cost of your cover is known as an insurance premium. The premium is based on several factors:
- your age
- your cover type and amount
- your insurance category
- any premium loadings the insurer applies.
For income protection cover we’ll also take into account your:
- waiting period
- benefit period.
In addition to your insurance premiums, we deduct an insurance administration fee. This fee is $1.85 per month and helps cover the cost of managing your insurance.
Get simple advice at no extra cost
Our superannuation advisers can help you check your super and insurance needs. Take advantage of simple financial advice over the phone or virtually.
Frequently asked questions
For more information about your insurance options read the relevant Insurance handbook.
The Key Facts Sheet - Insurance in superannuation provides important information about our automatic death and total and permanent disablement cover (Basic Cover) provided to eligible Future Saver members.
You can find out what insurance you have by:
- logging into your Member Online account
- logging into your Aware Super app
- clicking on the insurance tab.
Underwriting is the process an insurer takes to assess an insurance application. This is how they decide if they can offer any cover, the cost of cover, and if any special conditions will be applied.
Insurance is underwritten by our insurer.
The insurer's decision is based on the applicant’s:
- type and level of cover applied for
- personal medical history
- lifestyle information
- occupation.
Underwriting may result in the insurer:
- applying standard premiums rates
- applying a premium loading, which means the insurance would cost more
- excluding some conditions from cover
- deferring an application
- denying the cover due to unacceptable high risk.
Some members are eligible for automatic insurance. This does not require underwriting.
Some occupations are considered dangerous and people in these occupations can find it more difficult to get insurance. Aware Super can apply an exception for these occupations. This means these people are eligible to get some Basic Cover automatically, even if they’re under age 25 or have less than $6,000 in their account.
Aware Super has decided to apply a ‘dangerous occupation exception’ for the following groups of our members:
- NSW Police officers
- NSW Ambulance officers
- NSW Rural Fire Service and NSW Fire + Rescue (excluding retained fire fighters)
We also provide compulsory insurance for eligible NSW Ambulance Officers:
Ambulance Officers Insurance (AOI) provides death (including terminal illness) cover, in line with the relevant award requirements.
Our Premium Adjustment Arrangements
There are two Aware Super premium adjustment mechanisms related to historic insurance arrangements covering periods up to the end of 2019 still in force.
These premium adjustment mechanisms are sometimes known as profit shares or experience adjustments. The intent of these arrangements is to return a portion of premiums where the number or value of claims is better than the insurer expected in their pricing.
For the Aware Super insurance arrangements, any entitlement to a premium adjustment amount is paid into the Insurance Reserve maintained by the fund and used to reduce premium costs in future for relevant members.
