AIA Australia has held on to its Sunsuper group life mandate, which was due to expire next July.

The cover includes death, disablement and income protection policies for 1 million fund members.

Sunsuper CEO Scott Hartley says the superannuation fund decided to extend its insurance and reinsurance arrangements with AIA for four years following an extensive review of the market.

“Extending our partnership with AIA ensures we can continue to provide an insurance offering for members that is not only one of the best in the industry in terms of product design and functionality, but also represents great value for money for our members,” he said.

AIA will work with the fund to survey members on what they want from group life cover.

“AIA has proved fully supportive of our plans to use this research to drive innovation and product design – a move that not only ensures the future sustainability of our insurance offering, but also supports members with the right levels of cover at the times when they need it most,” Mr Hartley said.