AIA Crisis Recovery Plan
About AIA Life Insurance
AIA Australia’s Life Cover Plan pays you or your chosen beneficiary a lump sum amount if you pass away or are diagnosed with a terminal illness with only 12 months to live.
AIA Life Cover Plan Benefits & Features:
There are a number of benefits that are built-in to the Life Cover Plan. These include:
Death benefit
Pays a lump sum equal to your Sum Insured if you pass away.
Terminal Illness
Pays the Sum Insured in advance if you are diagnosed with a Terminal Illness.
Final Expenses
Advances 10% of the Sum Insured up to a maximum of $25,000 to assist in dealing with immediate financial expenses whilst we assess a death claim.
Complimentary family Final Expenses
Pays the lower of $20,000 or 10% of the Sum Insured if your Child passes away or is diagnosed with a Terminal Illness between the ages of 2 and 17.
Conversion option
Allows you to convert your Superannuation Life Cover Plan to an Ordinary Plan prior to the Policy Anniversary before your 75th birthday.
Guaranteed future Insurability
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
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 indexation 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.
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.
Complimentary Interim Accidental Death Cover
Pays a lump sum in the event of your Accidental Death occurring whilst we are assessing your application. This cover applies for up to 90 days from the date of your signed application.
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.
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.
Complimentary Interim Accidental Death Cover
Pays a lump sum in the event of your Accidental Death occurring whilst we are assessing your application. This cover applies for up to 90 days from the date of your signed application.
Accommodation Benefit
Where we pay the Death or Terminal Illness Sum Insured, we will reimburse the accommodation costs incurred by your immediate family members whilst you are confined to a bed more than 100km 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 Death or Terminal Illness 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.
To learn more about AIA Australia and this product, you can view the Product Disclosure Statement or start a life insurance comparison.