AIA Income Protection

The AIA Group stands head and shoulders above the rest when it comes to life insurance and income protection giants.

With a formidable presence in 18 markets across the Asia Pacific, it's clear that this company, rooted in a century-long heritage, is an industry leader. A crucial part of the AIA Group's large and successful family is AIA New Zealand Limited. 

For over four decades, it has been a reliable source of insurance for New Zealanders, steadily building a reputation of trust since its inception in 1981.

Healthier, longer, better: AIA's vision for New Zealand

AIA's impressive history paves the way for a more ambitious goal. The goal to help transform New Zealand into one of the world's healthiest and most well-insured nations. The company strongly believes in the impact of small positive lifestyle changes to lead to healthier, longer, and better lives.

As an AIA client, you're treated more than just an insurance policyholder. You become a part of a community. You're offered the chance to join the AIA Vitality program, a science-backed health and wellness initiative.

Here, you're encouraged to enhance your health while earning rewards along the way.

You can count on AIA. The company has committed to making all processes with them as simple, transparent, and supportive as possible. They stand by you not just in times of need, but every single day.

Standing strong in life's highs and lows

Life is a rollercoaster of ups and downs, and AIA is dedicated to being a supportive partner through it all. With its robust financial foundation and innovative insurance solutions, AIA promises to stay by your side. They offer protection when you need it the most.

In 2019, the AIA Group marked its 100th year – or as they prefer to say, "100 years' young." In 1919, American entrepreneur Cornelius Vander Starr started a new insurance venture in Shanghai, laying the foundation for the company.

Today, AIA has grown into Asia's largest publicly traded insurance conglomerate, operating in 18 diverse markets. The pioneering spirit that led to its success still thrives, even after celebrating its Centennial year in 2019.

AIA One Billion: An ambitious leap for global health

In 2022, AIA Group unveiled a bold and ambitious initiative: AIA One Billion. This program aims to engage a billion people worldwide to live healthier, longer, and better lives by 2030. It's an audacious goal, sparked by the rising prevalence of lifestyle-related diseases across the Asia-Pacific and the growing environmental impacts on our health and well-being. 

AIA One Billion serves as a rallying cry for a more sustainable future for everyone. It goes beyond offering insurance products. It extends its reach to global wellness-focused initiatives, partnerships, and events. It's a vibrant display of AIA's commitment to engaging, educating, and inspiring people worldwide, including you, to improve your physical and mental well-being.

Navigate the insurance labyrinth with confidence

Insurance can often feel like a complex maze, but AIA is there to chart the course for you. They’re armed with extensive knowledge of life, critical illness, disability, health insurance and income protection options.

Their dedicated consultants are committed to helping you make informed decisions that align with your unique financial situation.

The process isn't merely sorting through many insurance options, it's a personalised journey designed for you. AIA's experienced consultants take the time to understand your unique needs, simplifying the complexities and guiding you towards the best coverage for you.

AIA: A trusted ally in your insurance journey

This journey with AIA doesn't end once you've chosen an insurance plan. Their consultants are in it for the long haul. They establish long-lasting relationships that continue to offer support even as your life circumstances evolve.

Whether you experience major life changes, need to file a claim, or seek more knowledge, AIA's consultants are there to be your reliable guide throughout your insurance journey.

And here's the icing on the cake - such superior service doesn't have to break the bank. AIA's consultants are available free of charge to you, thanks to commissions paid by insurance companies. In essence, AIA's mission is to make insurance not only understandable but also accessible. This ensures you navigate the insurance process with confidence and peace of mind.

AIA Vitality: A key to thriving life

At its core, AIA Vitality is a scientifically supported health and wellness program. It's a platform that provides guidance, tools, and rewards. It enables you to get more out of life and start thriving.

The program is available to all eligible AIA life, disability, and health insurance members. As a part of AIA Vitality, you can earn rewards each week by meeting your physical activity targets.

You also get instant access to great discounts from sports apparel and movie tickets to gym memberships, making the journey towards a healthier lifestyle even more enjoyable.

Beyond being just a life insurance provider, AIA embodies a dedication to enhancing your quality of life. AIA shows deep commitment to you, its partners, and people in various ways.

They acknowledge the unique health needs of financial advisers in New Zealand, honour deceased customers through environmental initiatives, and promote gender equality.

Imagine a safety net for your finances amidst unexpected health issues or injuries that disrupt your work. With AIA's carefully crafted Income Protection and Mortgage & Income Protection plans, that safety net is a reality.

Benefits offered by these two AIA income protection plans: 

• Complete incapacity income support: Starting after the grace period, you'll receive monthly payments, less any deductions, until you're no longer disabled or your benefit term ends.
• Partial incapacity income support: If you become partially incapacitated, you'll receive a backdated monthly payment.
• Partial incapacity bridging support: When moving from total to partial disability, you'll receive a one-time payment equal to a third of your last full disability benefit, aiding with transition costs.
• Rehabilitation and assistance: A dedicated case coordinator will work with you to understand your situation and identify ways to help you return to work or improve your job performance.
• Recurring disability support: If you suffer a relapse from the same or related health issue, they'll waive the waiting period, using medical advice and relevant data.
• Occupational aid: If your disability likely prevents job return, this clause funds an AIA-approved job retraining program.
• House adaptation and equipment cost support: If you're incapacitated, AIA might offer a one-time payment, up to 12 times the monthly benefit, for special equipment or home modifications.
• Bedridden support: If you're bedridden and need 24/7 care for over three days during the grace period, and not in the fifth occupational class, AIA will provide a daily confinement benefit.
• Resumption of work compensation: If you return to work 12-24 months after your claim, you'll receive a one-time payment, three times your monthly benefit.
• Maternity premium exemption: AIA will waive premiums for six consecutive months between your pregnancy's second trimester and six months post-delivery. You can file a claim during this time.
• Reduction in grace period: If your grace period is set at 26, 52 or 104 weeks, you have the option to shorten this period without providing more medical proof if business operations like overheads, continuity, locum or rural continuity stop due to the insured's withdrawal, business sale, or trading halt.
• Simultaneous grace period benefit: If the insured is incapacitated and entitled to a payout, and also has business coverages, then the grace periods for all policies will run concurrently from the disability onset date.
• Repatriation: If you're overseas and experience a critical condition for the first time, you could receive up to $10,000 to cover the cost of your and a companion returning to New Zealand.
• Home assistance benefit: Provides a backdated payment for up to six months of caregiver costs, paid directly to the caregiver.
• Childcare expense benefit: If you're fully or partially disabled, you may qualify for a refund of additional childcare costs for dependent children under 14.
• Premium forbearance: While insured, your premiums will be waived if you're unable to work due to total disability. This mandatory add-on for personal disability income policies comes with an additional fee.
• Coverage pause benefit: AIA’s income protection lets you pause your coverage for up to a year without medical evidence if you're on parental or unpaid leave, made redundant, unemployed, or face a pay cut of 20% or 30% if self-employed. No claims will be paid during this pause.
• Coverage update pass back: They ensure that their insurance suits you, automatically adding future enhancements to your policy, and improving your benefits at claim time.
• Global coverage: Your coverage remains valid, whether you're at home or overseas, regardless of duration.

Only the Mortgage & Income Protection plan includes the following benefits:

• Real estate special event option: With Mortgage and Income Protection, you can increase your guaranteed amount due to circumstances like a higher mortgage, new property, vacation home, or bare residential land purchase.

Only the AIA Income Protection plan includes these benefits:

• Upgraded Partial Incapacity Support: When shifting from total to partial disability entitles you to an extra monthly payment. This is 25% of the Partial Disability Income Benefit (or a smaller amount if necessary) for up to 12 months while claiming.
• Future insurance guarantee: Every three years, you can request to increase your coverage without additional health records, but conditions apply, and a premium rise will follow any coverage increase.

Three added features and bonuses: Exclusively for your AIA Income Protection plan:

• Special cash bonus: Receive an extra third of your monthly allowance for the first three months post-deferral, paid upfront to enhance your benefit.
• Steadfast incapacity support: If you become permanently disabled, they'll provide an additional monthly payout, a third of your full disability income benefit, after receiving full disability benefits for 24 continuous months.
• Compassionate bereavement grant: If you pass away while receiving a disability benefit, your family will be supported with a one-time payment equal to three times your regular allowance.

Optional enhancements for your policy

• Mental health restriction: This feature reduces your premiums but caps mental health-related claims to two years over the policy's life. It's available if your benefit period extends to age 65 or 70.
• Claim inflation adjustment benefit: Your cover's guaranteed amount will adjust yearly on your policy's anniversary, aligning with the Consumer Price Index (CPI) changes.
• Retirement safeguard: During total disability, we'll continue your contributions to your KiwiSaver plan while you're receiving benefit payments.
• Job loss cover: If you face redundancy, we provide monthly benefits for up to six months for financial security.
• Accidental injury protection: For unexpected accidents, this feature provides immediate payment based on your required medical treatment and chosen coverage level (up to $5,000 a month).