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Your guide to changing or cancelling your insurance cover

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Why would I need to update my insurance cover?

Life doesn’t stand still, and neither should your insurance cover. Some major life events might prompt you to review your cover, like:

  • Experiencing a change to your job or losing your source of income
  • Getting married or going through a divorce
  • Starting or growing your family
  • Receiving a life-changing medical diagnosis or acquiring a disability
  • Buying a home or taking on significant financial commitments
  • Your children becoming financially independent.

You can use our insurance calculator to work out how much cover you might need and how much it will cost, or log in to Member Online or the Aware Super app to review your current cover.

What should I think about before updating or cancelling my insurance?

It’s important to carefully consider the impact of any changes you make to your insurance cover. Here's a quick list of questions to ask yourself before changing or cancelling your insurance:

  • How will changing my insurance impact future claims I might want to make?
  • Will cancelling or changing my cover leave me unprotected in the future?
  • Have I read the Product Disclosure Statement (PDS) or Target Market Determination (TMD)?
  • Do I fully understand my options?
  • Will I be prepared when my cover ends after I cancel it?

Important things to know before cancelling or reducing your insurance

Insurance cover with Aware Super cannot be reinstated once cancelled or reduced.
If you cancel or reduce your cover and later want to increase it or reinstate it, you'll need to reapply. This means:

  • You’ll need to answer questions about your health, lifestyle and employment and the insurer will assess your application
  • Potentially facing higher premiums based on your health at that time
  • Possible exclusions or loadings being applied to your cover based on changes to your health
  • You risk your application being declined if your health has changed.

Before making any changes, consider whether you might need this level of cover again in the future. [IN1]

How do I keep my cover active with Aware Super?

To keep your insurance cover with us, you need to make sure:

  • Your account is active for at least 16 months. If it’s not active for this period, then your insurance cover stops. Regular super contributions from your employer help keep your insurance active. You can also complete an insurance election by logging into Member Online, to ask us to keep your insurance going, even though your Future Saver account may become inactive in the future.
  • Your super account has a balance of at least $6,000 to help prevent insurance cancellation.

How do I update my insurance cover?

Making changes to your cover with Aware Super is simple. Here’s how to do it:

  1. Log in to Member Online or the Aware Super app.
  2. Go to the Insurance section of your account dashboard.
  3. Select the type of cover you want to change or cancel. You can:
    • Increase your cover if you think you need more protection
    • Reduce your cover if you believe you no longer need as much
    • Cancel your cover if your circumstances have changed.
  4. Review carefully and submit, considering your long-term needs.

What happens after I update my insurance?

After you submit your application, we'll forward it to our insurer for assessment. During this process, they might reach out to ask you additional questions about your:

  • personal circumstances
  • lifestyle
  • health.

In some cases, they may also ask you to complete additional medical assessments. Once the insurer has made a decision, we'll let you know the outcome. If you need advice or help during the process reach out to our team.

What if I want to cancel my insurance cover?

You can cancel or reduce your cover at any time if your needs have changed. But here are a couple of things to keep in mind:

  • Cancelling your insurance means you won’t be able to make claims for events that occur after your cover ends.
  • If your insurance category is no longer right for you, switching your category rather than cancelling outright may help lower premiums while maintaining protection.

If you’re unsure what action to take, contact us for support tailored to your circumstances.

FAQ

The amount of insurance you need will depend on your personal situation. Consider dependants, ongoing expenses, and your income to calculate the right cover. Our insurance calculator can help guide you.

Yes. Having insurance through your super can be a convenient and cost-effective way to protect yourself and your family. The premiums are deducted from your super balance, and you get the benefit of group rates through the fund.

And even if you have insurance with another super fund, you can transfer it to your Aware Super account. This can help make managing your insurance easier and stress-free, with everything in one place.

You can log in to Member Online to check your policy details, including cover amounts and premiums.

You can also check your annual super statement for a full breakdown of your insurance.

It’s a good idea to update your insurance whenever your circumstances change or you go through a major life event, like:

  • getting married
  • starting or growing a family
  • experiencing a major health change
  • your financial situation has shifted.

Checking your insurance is simple through Member Online. Here’s how you can do it:

  • Log in to Member Online or the Aware Super app.
  • Head to the insurance section for quick access to your current insurance policy, including premiums and cover levels.
  • Review your super statement for a summary of your insurance details.

Need help understanding your insurance policy? Then get in touch with us and we can chat you through it.

If you change jobs, make sure your new employer pays your super into the right account. If they don’t, it means your super account won’t receive any contributions, which could cause your cover to lapse.

If you cancel your insurance, you usually can’t get it again automatically. Reapplying for your insurance might involve a health assessment, and information about your lifestyle and employment. Consider reducing your cover instead, just in case your need protection down the track.

Where to next?

Learn about insurance and super

Learn how insurance and super go hand in hand, and the different types of cover you can have.
I'm keen to learn more

How to transfer insurance cover

You can combine your external insurance plans into your super account for peace of mind.
I’m ready to transfer insurance

Use insurance calculator

Check out our insurance calculate to discover how much insurance cover suits your needs.
I want to use the calculator

[IN1] Insurance described on this webpage is provided under group life insurance and group income protection policies issued by TAL Life Limited, ABN 70 050 109 450, AFSL 237848 (‘the insurer’, or ‘TAL’). This webpage is intended to be a guide to the insurance available through Aware Super under the policies, however, all insurance is subject to the precise terms of those policies which will prevail to the extent of any inconsistency. Insurance cover is subject to the terms and conditions outlined in the applicable policy. For more information refer to the relevant Product Disclosure Statement (PDS) and Insurance Handbook.