Life insurance is what keeps your family’s finances secure if you die or are diagnosed with a terminal illness. Life cover pays out a lump sum to your nominated beneficiaries that can be used however it is needed, which allows your family to maintain their lifestyle without suffering financially. At a time when your loved ones are grieving, not having to worry about money can make a big difference.
What types of life insurance are there?
Term life insurance/Life Cover: A lump sum payment that goes to your beneficiaries if you pass away or are diagnosed with a terminal illness.
Trauma Cover: If you are diagnosed with a major medical illness or suffer an injury, trauma cover provides a lump sum that can cover your short-term expenses while you’re in treatment and recovery.
Total and Permanent Disability (TPD) Cover: If you become totally and permanently disabled and are no longer able to work, TPD insurance provides a lump sum payment.
Income Protection: If you are unable to work due to an injury or illness, income protection cover provides a monthly payment for a fixed period.
Before he came to us, Frank was paying for three separate insurance policies that were costing him over $10,000 a year. He was frustrated and disappointed with his insurers but didn’t know where to start.
With the help from one of our Senior Advisers he was able to amalgamate his policies into one comprehensive plan. With a new yearly premium of $6,000, and an insurer that has paid out over $2 billion in claims to Australians over the past two years Frank’s family was better protected and he was paying less.
Frank has since returned to us and we’re helping him with his Income Protection claim. As he recovers from knee surgery this money will help him support his family while he’s unable to work.
After years of paying premiums to the same insurer Maggie found herself in trouble when they suddenly refused to renew her policy. Due to a change in her health and her finances, she was told that no insurers would protect her. That’s when she came to us.
Our advisers were not only able to get Maggie the peace of mind that an underwritten life insurance policy brings; they also helped her save a few thousand dollars on her yearly premium. She was even able to save on her out of pocket expenses by opting to fund the new premium through her SMSF (self-managed super fund).
Maggie is now in the process of upping her cover to include a Trauma Insurance benefit with the help of one of our Senior Advisers.
With our help she’s making the journey from uninsurable to fully protected.
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Our team of life insurance advisers are here to help.
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AIA is one of the leading life insurers in Australia, and has been in business for over 40 years. They are backed by AIA Group, the largest independent publicly listed life insurance group in the Asia-Pacific region. AIA offers a range of products, including the AIA Vitality life insurance policy that rewards members for healthy living decisions. AIA provides life insurance to more than three million Australians.
AIA has made a commitment to social corporate responsibility, and operates under the philosophy ‘Making a Difference’. They do this by implementing programs like AIA Vitality and launching community initiatives.
AIA life insurance focuses on choice and flexibility, so you can choose an insurance policy that suits your lifestyle needs.
AIA Vitality is a health and wellness rewards scheme available to members who take up a life insurance policy through AIA.
In addition to standard benefits of each policy, some policies also include:
AIA Vitality is AIA’s member rewards scheme. It is a highly acclaimed program that helps members live a healthier lifestyle by creating incentives to do so. AIA Vitality is a points-based program. You’ll start as a Bronze member and work your way up to Platinum by earning points through health-based activities.
AIA offers four types of life insurance for individuals, plus one for businesses.
Life cover is there if you pass away or are diagnosed with a terminal illness. AIA’s life cover is available for people aged between 11 and 75, and pays out a financial benefit that can be used to cover outstanding loans or other expenses.
If you become sick or injured and are unable to work, income protection pays out a monthly payment while you recover. The policy is available to those aged 16 to 65 depending on your level of cover and occupation.
If your injury or illness means that you are unable to return to work at all, TPD cover can provide financial security that lets you maintain your current lifestyle. The policy is available to those aged 16 to 64 years depending on your level of cover and occupation.
AIA Vitality is a unique wellness program that can help improve your health. You’ll get the tools and information to create a healthier lifestyle, and the actions you take can also earn you points. These points can lead to discounts and rewards on products and services. When you purchase life cover through an eligible AIA policy, you’ll become a member of the AIA Vitality Program.
Traumatic events like cancer, heart attacks, or accidents can have a serious effect on you and your family, both emotionally and financially. Crisis Recovery cover can help you pay the bills while you focus on getting through a traumatic event. Crisis Recovery cover is available for people aged between 16 and 64.
If you are unable to work because of an injury or illness, Business Expenses cover makes sure that your fixed business expenses are covered. This cover can be particularly useful for those who are self-employed. It is available to those aged between 16 and 60 depending on your occupation.