Life Insurer Information
AIA Australia is part of AIA Group Limited, or “The Group.” The Group provides life insurance coverage across 15 markets throughout the Asia-Pacific area and has a history of providing coverage for more than 90 years. The Group has assets totaling $107.9 billion and boasts one of the most expansive networks of any life insurer. More than 23 million individual policyholders are covered through AIA, including more than two million individual Australians, and AIA also covers more than 10 million group members.
AIA has been repeatedly recognized for its consistent and reliable service to clients. Awards and accolades include:
- 2012 Life Insurance Company of the Year – ANZIIF Awards
- 2011 Best Overall Value – Canstar Cannex
- 2011 Best Income Protection – Canstar Cannex
- 2011 Winner for Outstanding value – Income Protection Insurance – Canstar
- 2011 Winner for Outstanding value – Life Insurance Australia – Canstar Cannex
- 2011 Best Term Life & TPD – Money Magazine
- 2011 Best Life Cover Plan – Asset Innovation
- 2011 Group Insurer of the Year – Super Review
- 2011 Best Business Overheads product – Money Management’s Adviser Choice
AIA Australia offers legal and financial support from qualified professionals on tax related issues and other financial planning matters when a policy pays out. Counseling and grief support is available to family members when life cover policies pay out, and funeral assistance is offered to make the planning process easier in the event of a loved-ones death. AIA WeCare makes many of these services available 24 hours per day, seven days per week.
Many AIA insurance policies are available through superannuation, allowing for tax-deductible premiums and flexible policy ownership. Some policies are available with no medical exams or limited medical exam requirements. Premium freeze makes it possible to keep premiums the same as prior years by reducing sum insured, while benefit indexation allows for automatic increases tied to the Consumer Price Index (CPI). Complimentary interim life cover is also provided during the time your application is being reviewed, and once you have coverage, guaranteed future insurability means you can increase your sum insured without supplying further medical information.
Types of Cover
AIA Australia offers many different kinds of coverage to protect your loved ones in case of an untimely death and to protect you in case of a illness, injury, or disability. Coverage options include:
- Life Cover: Up to $10 million in coverage is available in the event of a death or diagnosis with a terminal illness. Homemakers are eligible for cover along with those who have careers outside the home. Policies can be purchased up to age 75.
- Crisis Recovery: Policyholders can receive up to $2 million in insurance benefits when they experience a crisis listed in their policy.
- Total and Permanent Disability (TPD): Anyone aged 64 and under can purchase up to $5 million in coverage in case of a temporary or a permanent disability. TPD cover can be purchased as part of a standalone policy or as part of a life cover plan.
- Income Protection Insurance: If you are aged 60 or under, you can purchase up to $60,000 per month in income replacement protection. This policy benefit will pay out when a serious illness or an injury prevents you from being able to work.
- Funeral Insurance: Up to $30,000 in monetary benefits can be paid out to cover the cost of a funeral when you purchase this cover type. Funeral insurance can be purchased up to age 80.
- Business Expenses: You can purchase as much as $30,000 in coverage to pay for fixed business expenses, including rent and salaries.
AIA Australia has more than 260,000 agents serving clients across Australia, New Zealand, China, Hong Kong, and throughout the Asia-Pacific area. In Australia, AIA provides financial protection for more than 2.5 million customers, or almost 30 percent of the labor force. AIA paid an average of $1.7 million claims every day in 2011, for a total of $445 million over the course of the year.
To begin the process of making a claim, you can contact the AIA Claims team at 1800 333 613 (select option 2) or email firstname.lastname@example.org. Claims forms will be sent via mail, fax, or email within 24 hours. An experienced claims assessor will be assigned to your claim and will be your direct point of contact throughout the claims process. Claims are paid in a timely manner to provide necessary financial support for individuals and family members after an illness, injury, or death.
Member rewards and benefits include:
- A multi-plan discount, including a five percent premium discount with two plans and a 10 percent premium discount with three plans.
- Complimentary Family Final Expenses: For each dependent child between ages two and 18, complimentary cover is provided. A lump sum benefit of up to $20,000 is paid for each dependent child upon diagnosis of a terminal illness or death.
- AIA Vitality. When you have a policy through AIA Australia, you can become a part of AIA Vitality. This allows you to earn points by completing health assessments, take advantage of a range of different activities to improve your health (which also earns you points) and redeem your rewards for discounted insurance premiums or discounts at health and lifestyle partners.
Locations & Contact Info
Call 1800 333 613 or complete an online form to get someone to contact you.
Still have questions? Let's talk!
Confused? Not sure if this applies to your situation? Phone us on 1300 904 624 for some free, no obligation advice!