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AIA Australia – Life Insurance

AIA Australia is part of the AIA Group — the largest publicly-listed life insurance group in the Asia–Pacific region, with a presence in 18 markets.

AIA Australia is a life insurance specialist with over 45 years of experience. It offers a range of products that protect and enhance the lives of more than 3.7 million Australians and it’s recognised as a market leader in product innovation and development.

AIA’s health and wellbeing program AIA Vitality is a personalised, science-backed program that supports you every day to make healthier choices. It helps you to understand the current state of your health, provides tools to improve it and offers great incentives to keep you motivated on your journey. These include lifestyle rewards, savings on your everyday expenses and even discounts on your life insurance premiums.

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Life Cover

  • A lump sum is paid if you die or become diagnosed with a terminal illness
  • Choose between an Ordinary Plan, a Linked Benefit or a Superannuation Plan
  • Up to 90 days of complimentary interim accidental death cover while your application is assessed
  • Unlimited amount of cover for all occupations excluding home duties (home duties has a maximum cover of $2 million)
  • Built-in benefits:
    • Death and terminal illness benefit
    • Final expenses benefit1 – 10% of cover amount (up to a maximum of $25,000) advance payment while claim is being assessed
    • Complimentary Family Final Expenses benefit1 – pays 10% of sum insured (up to a maximum of $20,000) if your child passes away or is diagnosed with a terminal illness between the ages of 2 and 17
    • Guaranteed future insurability benefit – allows you to increase your sum insured for significant personal or business events before age 55, without providing further evidence of your health or insurability
    • Benefit indexation – increases your sum insured each year by 5% or CPI (whichever is higher) to keep up with increases in the cost of living
    • Premium freeze – allows you to keep your premium the same for the following year by reducing your sum insured amount
    • Financial planning reimbursement1 – pays up to $3,000 to reimburse financial planning advice obtained within 12 months of a claim payment across all policies
  • Various optional benefits available
  • Complimentary Family Final Expense benefit with the option of adding Family Protection benefit (outside super)
  • Choose between stepped, level, term level or optimum premium options
  • 28-day cooling off period

Crisis Recovery

  • A lump sum is paid to help ease the financial burden of paying your bills, making loan repayments and meeting unexpected medical costs and out-of-pocket expenses, should you suffer a traumatic or listed crisis event such as a stroke, a heart attack or a cancer diagnosis
  • From $1 million up to $2 million worth of cover depending on your occupation category
  • Can be purchased as a standalone cover (Ordinary Plan) or as an optional benefit under a Life Cover (Ordinary Plan or Linked Benefit) policy
  • Built-in benefits:
    • Chronic diagnosis advancement – advances a partial payment if you’re diagnosed with certain crisis events
    • Conversion to loss of independence2 – ability to convert your crisis recovery benefit to a loss of independence benefit at age 70
    • Complimentary Family Protection benefit – pays a lump sum of $20,000 per child if your child passes away or is diagnosed with one of the listed complimentary family protection crisis events between the ages of 2 and 17
    • Death benefit3 – pays a lump sum up to $5,000 if you pass away and no benefit is payable for a crisis event
    • Terminal illness benefit4 – pay a lump sum equal to the crisis recovery sum insured on diagnosis of a terminal illness
    • Up to 90 days of complimentary interim accidental crisis recovery cover – pays a lump sum in the event that you suffer a crisis event while your application is assessed, solely as a result of an accidental injury
    • Up to 90 days of complimentary interim accidental death cover3 while your application is assessed
    • Benefit indexation – increases your sum insured each year by 5% or CPI (whichever is higher) to keep up with increases in the cost of living
    • Premium freeze – allows you to keep your premium the same for the following year by reducing your sum insured amount
    • Financial planning reimbursement1 – pays up to $3,000 to reimburse financial planning advice obtained within 12 months of a claim payment across all policies
  • Choose between stepped, level, term level or optimum premium options
  • Cover applies to anywhere in the world, 24 hours a day
  • Various optional benefits available
  • 28-day cooling off period
  • Option to increase your Family Protection benefit

Total and Permanent Disablement (TPD)

  • A lump sum is paid to help cover one-off and ongoing expenses, as well as loss of future earnings incurred as a result of your permanent disability
  • From $1 million up to $5 million worth of cover depending on your occupation category
  • Can be purchased as a standalone cover or as an optional benefit included under a Life Cover policy (see above) or a Crisis Recovery standalone policy (see above)
  • Three types of cover available both inside and outside of super:
    • TPD – pays a lump sum if you suffer total and permanent disablement due to an injury or sickness
    • Accidental TPD – pays a lump sum if you suffer total and permanent disablement due to an accidental injury
    • Universal TPD – pays a lump sum if you suffer a loss of independence
  • Built-in benefits:
    • Benefit indexation – increases your sum insured each year by 5% or CPI (whichever is higher) to keep up with increases in the cost of living
    • Premium freeze – allows you to keep your premium the same for the following year by reducing your sum insured amount
    • Up to 90 days of complimentary interim accidental total and permanent disablement cover – pays a lump sum outside superannuation in the event that you become totally and permanently disabled while your application is assessed, solely as a result of an accidental injury
  • Cover applies to anywhere in the world, 24 hours a day
  • Choose between stepped, level or optimum premiums5
  • Various optional benefits available
  • Complimentary financial planning benefit of up to $3,000 when your policy is held outside of super
  • Option to add TPD Buy-back if the TPD is purchased as an optional benefit under a Life Cover policy

  1. Available on a Life Cover Ordinary Plan only.
  2. Conversion to Loss of Independence isn't available under a Crisis Recovery standalone policy.
  3. Only available under a Crisis Recovery standalone policy.
  4. Terminal Illness is listed as a crisis event and is only available under a Crisis Recovery standalone policy.
  5. Available on a TPD and Universal TPD policies only.

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