Income Insurance Cover

The AIA policy provides additional / enhanced features under Income Protection cover compared to the Income Insurance Cover provided under your Integrity policy.

 

If you hold Integrity’s Income Insurance Cover inside your super, your payment details may need to be updated to ensure cover continues under the AIA Priority Protection Super Extras benefit.  The Super Extras benefit enables your Income Protection Cover to be split inside and outside super, maximising the claim payments available to you.

 

If your payment details need updating, you will be advised in your AIA welcome pack which you will receive via email and be asked to provide payment information via an online form. 

AIA policies will expire for Income Protection on the last policy anniversary before you turn 65.

 

Under the AIA policy, you do not have the ability to request to extend your cover up to age 70 after the age of 64, where you met certain conditions.

 

This option was available under the Integrity policy.

The Benefit Period you selected under your Integrity Income Insurance policy will be transferred to your AIA policy, unless your occupation is deemed to be in a Light Blue Occupation Class, in which case your Benefit Period will be transferred to age 65 under your AIA policy.

 

‘Light Blue Occupation Class’ includes for example, Registered Nurse, Hairdresser, Foreman, Sales Representative, Property Developer, Retail Shop Manager.

 

The AIA policy applies a benefit reduction to policies with a Benefit Period to age 70. The Monthly Benefit is reduced after the last Policy Anniversary before you turn 65.  The Insured Monthly Benefit is multiplied by the percentage shown in the table below and will remain at that amount for the duration of that claim. The premium you pay is based on the reduced Insured Monthly Benefit.

You cannot increase your Insured Monthly Benefit on or after the Policy Anniversary before you turn 65.

The Waiting Period is the number of days at the beginning of a period of disablement in which no Total or Partial Disablement benefit is payable.

 

 

You were able to select a waiting period of 180 days.
 

 

The AIA policy does not offer a 180-day waiting period. If you held an Integrity policy with a 180-day waiting period, upon transfer to AIA your waiting period will be reduced to a 90-day waiting period (this is the nearest equivalent waiting period available). Please note higher premiums apply to shorter waiting periods.

 

The AIA policy allows for you to return to work at any time during the Waiting Period without the Waiting Period recommencing, providing the following conditions are met:

For more detail on Occupation Categories, please see the AIA PDS here: AIA Priority Protection – Version 29 12/05/2024 and Priority Protection - Incorporated by Reference

 

You were able to increase your sum insured once in any 12-month period when your monthly earnings increased, to a maximum of the lesser of:

 

and a minimum of $250 per month.

 

The total of all increases cannot exceed the original amount of Cover at the Cover start date.

 

 

Provides a Guaranteed Future Insurability benefit that allows you to increase your sum insured by 15% up to a maximum of $2,500 when your salary increases, without providing further evidence of your health or insurability.  Please note for cover held under Super, the monthly benefit cannot exceed 100% of your Pre-disablement Income.

There are standard policy exclusions which are different under your AIA policy as compared to your Integrity policy.

 

AIA will not pay a death or disablement benefit claim:
 

^*This exclusion will be waived in respect of any Death benefit under the Policy, provided the Policy is replacing the death benefit from AIA or a previous insurer and the full suicide exclusion period under the in-force policy to be replaced has elapsed. The waiver only applies to the amount of the Death benefit that has been replaced by the Policy.

 

As such this exclusion will be waiver when your policy transfers to AIA. 

 

Specified Injuries and Specified Medical Conditions are referred to as Crisis Recovery under the AIA policy.

 

Crisis Recovery provides cover for 41 conditions compared to the 20 provided under your Integrity policy.  A full list of Crisis Recovery conditions is available in the AIA PDS and Incorporated by Reference document available AIA Priority Protection – Version 29 12/05/2024 and Priority Protection - Incorporated by Reference

 

 

AIA Priority Protection PLUS Optional offers equivalent benefits when compared to the Integrity Care Support Package as followings:

Please note, Grief Support, Child Support, Accommodation (Funeral Attendance), and Funeral Attendance benefits are not available under AIA policies. 

 

Your Integrity policy only waived premiums after the Waiting Period was completed and a claim was being paid to you.

 

 

Should you meet the eligibility criteria to make a claim and receive a claim payment, under your AIA policy, premiums will be reimbursed during the Waiting Period.

 

Under the Integrity policy, the increasing of claim payments for inflation, was included in your premium, and your claim payments were indexed on your policy anniversary date. 

 

 

The AIA policy will continue to provide this benefit (referred to as Claim Escalation benefit) however, this benefit is an optional benefit with an additional premium.  AIA indexes claim payments by the CPI increase after a monthly benefit has been paid for 12 consecutive months.

 

The Claim Escalation benefit will automatically be added to your policy as part of the transfer; however, you can remove this optional benefit at any time by contacting AIA.  

 

Under Integrity policy, you had the option to select the Superannuation Contribution Cover benefit when you took out your policy. The AIA policy allows you to continue to receive Superannuation Contributions when on claim under the Retirement Optimiser benefit.

 

 

As a part of the transfer the sum insured you held under your Superannuation Contribution Cover benefit will be transferred to the AIA Retirement Optimiser benefit. However, where the amount you are eligible to claim is higher than the 5% cap on the Retirement Optimiser, the remaining difference will be paid directly to you as part of your monthly benefit providing you meet the eligibility criteria, and your claim is accepted.

 

The Retirement Optimiser benefit has a cap of 5% of your average monthly Income.

There are differences in the Total Disablement Definition and Partial Disablement Definition for your Integrity policy and the AIA policy.

 

The AIA policy allows for a Total Disablement Multi Definition* as per the following:

 

 

^*Applicable only if you have Advantage Optional or PLUS Optional.

 

a) If you are employed, or have been unemployed or on maternity or paternity leave for less than 12 consecutive months immediately before your disablement started, we will consider you to be Totally Disabled if, solely as a result of Injury or Sickness, you are:

 

However, if you have been unemployed or on maternity or paternity leave for more than 12 consecutive months immediately before your disablement started, we will consider you to be Totally Disabled if, solely as a result of Injury or Sickness, you are:
 

Working hours for this benefit will equate to 25 hours per week.

 

Or,

 

b) We will consider you to be Totally Disabled if, solely as a result of Injury or Sickness, you are:

 

However, if you have been unemployed or on maternity or paternity leave for more than 12 consecutive months immediately before your disablement started, we will consider you to be Totally Disabled if, solely as a result of Injury or Sickness, you are:
 

Or,

 

c) We will consider you to be Totally Disabled if, solely as a result of Injury or Sickness, you are:

 

However, if you have been unemployed or on maternity or paternity leave for more than 12 consecutive months immediately before your disablement started, then we will consider you to be Totally Disabled if, solely as a result of Injury or Sickness, you are:
 

If you are on Sabbatical Leave it will not be considered as unemployment. Sabbatical leave must be for the purpose of research and cannot exceed 12 months or the sabbatical period specified in the award covering you, whichever is the shorter period.

 

*Applicable only if the Advantage Optional or PLUS Optional benefit is selected.

 

If you are employed, or have been unemployed or on maternity or paternity leave for less than 12 consecutive months immediately before your disablement started, we will consider you to be Partially Disabled if, solely due to Sickness or Injury:

 

If you have been unemployed or on maternity or paternity leave for 12 consecutive months or longer immediately before your disablement started, we will treat your usual occupation as being ‘any occupation for which you are reasonably suited by education training or experience’.

 

If the Advantage Optional benefit or the PLUS Optional benefit is selected, this Partial Disablement – Multi Definition will be applicable to:

 

 

Under your Integrity policy, you are considered as unemployed and an education, training and experience-based disability is applied if you are on Sabbatical Leave when you become Totally or Partially Disabled.

 

 

AIA does not consider you are unemployed if you are on Sabbatical Leave (for no more than 12 months), the Total Disablement – Multi Definition and Partial Disablement – Multi Definition will be applicable. 

 

Monthly Earnings under the Integrity policy is comparable to ‘Income’ under the AIA policy.  However, Monthly Earnings (Integrity) and Income (AIA) have different definitions, and this may affect the level of cover and any disability payment determination.

 

 

The AIA policy defines Income as:
 

 

The Integrity policy determines your Pre-disablement Income for Agreed Value cover by calculating the highest average Monthly Earnings for any consecutive 12-month period between the date one year prior to the cover start date and the date on which you become Totally or Partially Disabled.

 

 

The AIA policy determines your Pre-disablement Income for Agreed Value cover by calculating the highest average monthly Income for any financial year since the date two years before the Commencement Date of the Income Protection benefit up to the commencement of disablement.  

 

Should you suffer a relapse of Total or Partial Disability the Waiting Period is waived, and the claim is treated as a continuation of the previous claim, after a monthly benefit has been paid if the relapse occurs:

 

 

The AIA policy allows for Recurrent Disablement, if you return to full-time work after payment of a disablement benefit and a disablement due to the same or related cause reoccurs within 12 months, to recommence payments on the same claims without a further Waiting Period being applied.

 

Your Integrity – Here For You policy has no minimum premium requirement.

 

 

If after transfer to your AIA Priority Protection policy the new premium calculated is under $300, AIA will waive the minimum premium requirement of $300 per annum.

 

Please note if you request an alteration of any kind to your Policy, for example an increase or decrease in your sum insured, the AIA minimum premium of $300 per annum will be enforced.

 

Under the Integrity – Here For You policy, you can elect to pay your premiums either Monthly or Annually, at no extra cost.

 

 

Offers Monthly, Half-yearly and Yearly premium frequencies, which are subject to a premium frequency charge applying to the premium and policy fee.  The charge is calculated as a percentage of the yearly premium, being 0% for Yearly, 5% for Half-yearly and 8% for Monthly.

AIA offers the same premium options as Integrity – Here For You.

 

However, the names (or labels) of AIA premium options have recently been updated in line with the Council of Australian Life Insurers (CALI) recommendations.  

As part of the transfer your premium rates may alter based on the Premium Structure you are transferred into under the AIA policy.

 

The Premium and Cover Pause benefit is available to support customers who are experiencing financial hardship. For AIA policies with a monthly premium, you can apply to pause premiums and cover for a period of 3, 6, or 12 months and for yearly premium frequency you can request a 12 month pause. However, the Premium and Cover Pause can only start on the next premium due date.

 

A full list of Premium and Cover Pause benefit conditions is available in the AIA Priority Protection PDS and Incorporated by Reference document available AIA Priority Protection – Version 29 12/05/2024 and Priority Protection - Incorporated by Reference

The Premium Freeze benefit allows you, at each Policy Anniversary, to elect to pay the same premium for the following Policy year as you paid for the previous Policy year. You must be at least 35 years old and have a Variable age-stepped premium structure to exercise a Premium Freeze.

 

If you elect to apply the Premium Freeze benefit your sum insured will be decreased the next Policy year to match the premium with the amount you paid in the previous Policy year.

 

A full list of Premium Freeze benefit conditions is available in the AIA Priority Protection PDS and Incorporated by Reference document available AIA Priority Protection – Version 29 12/05/2024 and Priority Protection - Incorporated by Reference