{"id":81951,"date":"2026-04-09T10:40:08","date_gmt":"2026-04-09T00:40:08","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=81951"},"modified":"2026-04-17T10:35:31","modified_gmt":"2026-04-17T00:35:31","slug":"aia-launches-short-form-underwriting-for-super-transfers","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2026\/04\/09\/aia-launches-short-form-underwriting-for-super-transfers\/","title":{"rendered":"AIA Launches Short Form Underwriting for Super Transfers"},"content":{"rendered":"<div class=\"header row\">\n<div class=\"intro\">\n<h3>News that AIA Australia is streamlining insurance administration for advisers moving their clients&#8217; super to a platform account attracted strong reader interest this week\u2026<\/h3>\n<\/div>\n<\/div>\n<p>AIA Australia is streamlining insurance administration for advisers and their clients when moving super into a platform account thanks to its new Insurance Short Form Underwriting initiative.<\/p>\n<p>The firm&#8217;s Chief Retail Distribution and Advice Officer <strong>Pina Sciarrone<\/strong> said it will enable advisers to transfer an eligible client\u2019s group insurance cover to an AIA Priority Protection for Platform Investors Retail contract, subject to limits.<\/p>\n<p>Among the conditions are that clients must be under age 55 at the time of application, and have existing life, TPD, and income protection cover in place. In addition there&#8217;s a sum insured cap of $350,000 for Life\/TPD and $5,000 per month for income protection.<\/p>\n<blockquote><p>&#8230;risks default cover automatically being cancelled if an account is considered inactive&#8230;<\/p><\/blockquote>\n<p>The initiative, said Sciarrone, is designed to overcome barriers faced by advisers and clients whereby multiple super accounts are often retained to preserve insurance cover.<\/p>\n<figure id=\"attachment_49694\" aria-describedby=\"caption-attachment-49694\" style=\"width: 150px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-49694\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2010\/04\/Pina-Sciarrone-v2-e1587440329924.png\" alt=\"\" width=\"150\" height=\"180\" \/><figcaption id=\"caption-attachment-49694\" class=\"wp-caption-text\">Pina Sciarrone.<\/figcaption><\/figure>\n<p>\u201cIn most cases, when an adviser is transferring a client\u2019s superannuation into a new wrap platform structure, they retain a nominal balance in the former fund to preserve default group insurance cover,&#8221; she said.<\/p>\n<p>\u201cWhile this practice maintains the client\u2019s insurance, it results in multiple super accounts and associated fees eroding balances.<\/p>\n<p>\u201cThis process also often encounters administrative issues, and risks default cover automatically being cancelled if an account is considered inactive and\/or the balance falls below $6,000, due to legislative reforms referred to as Protecting Your Superannuation and Putting Members\u2019 Interests First.\u201d<\/p>\n<p>Sciarrone said the initiative enables the integration of an AIA retail policy within the destination wrap platform via a four-question personal statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News that AIA Australia is streamlining insurance administration for advisers moving their clients&#8217; super to a platform account attracted strong reader interest this week\u2026 AIA Australia is streamlining insurance administration for advisers and their clients when moving super into a platform account thanks to its new Insurance Short Form Underwriting initiative. The firm&#8217;s Chief Retail [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":81954,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,4,8291,5622],"tags":[],"class_list":{"0":"post-81951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company-news","8":"category-products","9":"category-story-of-the-week","10":"category-superannuation"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/81951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=81951"}],"version-history":[{"count":5,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/81951\/revisions"}],"predecessor-version":[{"id":82041,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/81951\/revisions\/82041"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/81954"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=81951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=81951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=81951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}