Changes to insurance arrangements

The Trustee of BT Super for Life appointed AIA Australia Limited (AIA) ABN 79 004 837 861, AFSL 230043 as the new group life insurer, effective 1 July 2020.

AIA is an award-winning global insurer with over 47 years’ experience in Australia, that shares our philosophy of supporting the health and wellbeing of our members.

As part of this change, we’ve taken the opportunity to review our insurance arrangements to ensure they continue to meet the needs of our members.

If you have insurance cover through your BT Super for Life account:

  • Your insurance cover is now provided by AIA – and from 1 July 2020 your personal information has been provided to AIA in line with our Privacy Policy.
  • The terms and conditions for your insurance cover will change from 1 October 2020. A summary of the changes can be found in the booklet titled Changes to your insurance in super, which you can access here.
    It is important that you read these changes and understand how they affect your insurances in BT Super for Life.
  • Your insurance premium rates will remain the same, subject to the current rate guarantee and terms governing pricing.

What does this mean for insurance provided through BT Super for Life?

If you have insurance cover through your BT Super for Life account, your insurance cover will continue, and it has been provided by AIA from 1 July 2020.

What do you need to do?

It’s important that you please take the time to read about the changes to your terms and conditions in the booklet titled Changes to your insurance in super, which you can access here.

It may be a good time for you to review your super, check your balance, update your beneficiaries, and review your insurance, if you have any, to make sure your cover still meets your needs.

If you currently have a claim in progress, there is no change – please continue to contact your Case Manager. If you need to make a claim please contact us for help.

If you would like to view your current cover, please log into your BT Super for Life account via your Westpac, St.George, Bank of Melbourne or BankSA online banking.  

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This information is current as at 31 July 2020.

This information has been prepared by BT Funds Management Limited ABN 63 002 916 458, AFSL No. 233724, RSE Licence No. L0001090 (BTFM). This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to these factors before acting on it. BTFM, is the trustee and issuer of interests in BT Super for Life which is a part of Retirement Wrap ABN 39 827 542 991, RSE R1001327. A product disclosure statement (PDS) is available for BT Super for Life and can be obtained by calling 132 135, or by logging in to your online banking. You should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of interests in BT Super for Life. BTFM is a subsidiary of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac). An investment in BT Super for Life is not an investment in, deposit with or any other liability of Westpac, any Division of Westpac or any other company in the Westpac Group. It is subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Westpac and its related entities (including BTFM) do not stand behind or otherwise guarantee the capital value or investment performance of BT Super for Life.