AIA Priority Protection Total and Permanent Disablement
About AIA Priority Protection Total and Permanent Disablement (TPD)
AIA’s Priority Protection Total and Permanent Disablement (TPD) insurance provides cover of up to $5 million if a customer becomes permanently disabled due to accident or illness and is no longer able to work. It provides a lump sum payment to cover costs such as medical treatment, rehabilitation, home nursing and home modifications
We offer three main types of TPD insurance cover:
- TPD – pays a lump sum if you suffer Total and Permanent Disablement due to Injury or Sickness.
- Accidental TPD – pays a lump sum if you suffer Total and Permanent Disablement due to Accidental Injury.
- Universal TPD – pays a lump sum if you suffer Loss of Independence.
The Priority Protection Total and Permanent Disablement offers additional built-in benefits including:
Total and Permanent Disablement
Pays a lump sum equal to the Sum Insured as at the end of the applicable qualifying period if you are disabled according to your applicable TPD definition (see Section 12.1):
- Own Occupation*
- Any Occupation
- Universal
- Home Duties.
*If you select a Superannuation Plan, the TPD Own Occupation definition is only available if you also select a Linked Benefit (see Sections 9.2 and 9.3).
Accidental Total and Permanent Disablement
Pays a lump sum equal to the Sum Insured if you are disabled solely because of Accidental Injury and according to your applicable TPD definition (see Section 12.1):
- Any Occupation
- Home Duties.
Partial and Permanent Disablement
Provides a partial payment from your Sum Insured if you suffer the permanent loss of the use of one arm, one leg, or sight in one eye. The advance payment is 25% of the Sum Insured up to a maximum of $750,000. If you select the TPD/Accidental TPD Stand Alone benefit, you must survive for 14 days from the date of the loss to be eligible for this payment. Where Accidental Total and Permanent Disablement applies, a Partial and Permanent Disablement benefit will only be paid if you are disabled solely because of Accidental Injury.
Conversion to Loss of Independence
Instead of TPD/Accidental TPD Stand Alone benefit ending on your Expiry Date, we will convert the cover to a Loss of Independence benefit until the earliest of:
- the Policy Anniversary prior to your 100th birthday or;
- the Expiry Date of the Life Cover benefit (where TPD and Accidental TPD cover is purchased as a Rider Benefit to Life Cover).
Conversion to Loss of Independence is not available within a Superannuation Plan, Maximiser, Occupation Category E or where TPD is a Rider Benefit to Crisis Recovery Stand Alone or where Accidental TPD is a Rider Benefit.
Where Accidental Total and Permanent Disablement Stand Alone benefit applies, a Loss of Independence benefit will only be paid if you are disabled solely because of Accidental Injury.
Conversion option
Allows you to convert your TPD cover under a Superannuation Life Cover Plan to an Ordinary
Plan prior to the Expiry Date of your TPD benefit.
Day 1 TPD
Removes the qualifying period for benefit payments for selected ‘Other Serious Crisis Events’. financial Planning Reimbursement Pays up to $3,000 to reimburse financial planning advice obtained within 12 months of a claim payment across all policies. The maximum total amount payable under all policies with us for the life insured is $3,000.
Benefit Indexation
Automatically increases your Sum Insured at the Policy Anniversary each year by the higher of the CPI Increase and 5%, and adjusts your premium accordingly. You can opt out of this benefit on your application form or before any Policy Anniversary.
Premium Freeze
Allows you to keep your premium the same for the following year by reducing your Sum Insured amount. You must be at least 35 years old and paying Variable age-stepped premiums. Premium and Cover Pause Benefit For eligible policies, and subject to acceptance of an application, allows you to pause premiums and cover for a period of 3, 6 or 12 months in certain circumstances.
Accommodation Benefit
Where we pay the Total and Permanent Disablement or Accidental Total and Permanent Disablement Sum Insured, we will reimburse the accommodation costs incurred by your Immediate Family Members whilst you are confined to a bed more than 100 km from your usual place of residence (up to $250 per day for up to 30 days). The Accommodation benefit can assist an Immediate Family Member with the costs of accommodation to be near you provided you are confined to a bed or hospitalised.
Counselling Benefit
Where we pay the Total and Permanent Disablement or Accidental Total and Permanent Disablement Sum Insured, we will pay $200 for each session of grief counselling you and/or an Immediate Family Member attend related to the claimable event, up to a maximum total value of $1,200 per Life Insured. Complimentary Interim Accidental Total and Permanent Disablement Cover Pays a lump sum outside superannuation in the event that you become Totally and Permanently Disabled whilst we are assessing your application, solely because of an Accidental Injury. This cover applies for up to 90 days from the date of your signed application.
To learn more about AIA Australia and this product, you can view the Product Disclosure Statement or start a life insurance comparison.