Entry Age
(next birthday)

11 years

Expiry Age
(policy anniversary prior to)

100 years

You can buy this via a Financial Adviser or get a quote from AIA Financial Wellbeing

What is this product about?

The shock that comes when someone passes away, or is diagnosed with a terminal illness, places great pressure on family and loved ones. Grief and loss are hard enough to cope with, without the financial worries that can come with an illness or death.

Priority Protection Life Cover helps protect your loved ones if you are diagnosed with a terminal illness or pass away.

AIA Australia has prepared a Target Market Determination which describes the class of consumers that comprise the target market for this product. The Target Market Determination can be sourced at aia.com.au/tmds.

Live cover eligibility

Entry age (Next birthday)

11 - 75

Expiry age (Policy anniversary prior to age)

100

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Alex's Story

Due to Alex’s foresight, he ensured his family were looked after in a time of great need.

For 27 years Alex was a truck driver who thoroughly enjoyed life on the open road. When he wasn’t travelling he lived with his wife and teenage son helping with the family’s hobby farm.

Alex’s father had died of cancer 10 years earlier without life insurance cover. Alex witnessed first hand the struggle his mother faced as she had no access to immediate money to pay for his father’s funeral. His father also had some outstanding money to pay on the mortgage and his mother was forced to sell the home as she couldn’t keep up with the repayments.

Shortly after his father’s death and seeing his mother’s financial hardship, Alex spoke to a financial adviser to make sure he had enough life insurance to ensure his own family would not face the same financial difficulty. Alex even reviewed his cover after the birth of his son Tom when his wife was not working.

Two weeks after Alex’s 45th birthday he was diagnosed with colon cancer. He couldn't believe it, he still felt fit and healthy and initially thought there was a mistake. It was made worse by the prognosis that he wouldn't make it much past his 46th birthday. After a short battle with the illness, he passed away.

Alex's wife received a call from their lawyer informing her that Alex had life insurance cover and he was sending her a cheque for $1,042,000. This meant that she could pay off their mortgage and wouldn't have to go back to work full time, allowing her to stay at home to look after Tom. In addition Tom’s education was taken care of.

Due to Alex’s foresight he ensured his family was looked after in a time of great need.

_{* This is an example only to illustrate the potential benefit of taking out Life Cover, and should not be relied upon as indicative of benefits payable under the Life Cover benefit.}

What does this provide?

Death Benefit

Provides a lump sum benefit if you pass away.

Terminal Illness

Provides a lump sum benefit if you are diagnosed with a terminal illness.

Financial Planning Reimbursement

Covers any financial advice costs up to $3,000 to assist with managing or investing your claim payment for death or terminal illness.

Premium Freeze

Gives you the flexibility to keep your premium the same each year by reducing your sum insured.

Complimentary Family Protection

Provides a lump sum benefit up to $20,000 should one of your dependant children be diagnosed with a terminal illness or pass away.

Guaranteed Future Insurability

When certain life events occur, you can increase your sum insured without having to provide further health evidence.

Final Expenses

Covers any immediate financial expenses up to $25,000 or 10% of your sum insured if you pass away.

Insurance lingo explained

This is the amount you are covered for. This is stated on your policy schedule.

This is a single, large claim payment.

Health events covered are:
- Cancer events (e.g. skin cancer)
- Coronary events (e.g. heart attack)
- Other serious crisis events (e.g. major head trauma)

Do you want additional peace of mind?

Additional options are available for you to customise your cover to make sure it suits your individual needs.

Total and permanent disablement (TPD)

Provides a lump sum benefit if you become totally and permanently or partially and permanently disabled.

Crisis Recovery Benefit

Provides a lump sum benefit if you experience a health event or are diagnosed with a serious illness.

Forward Underwriting

When certain life events occur, you can increase or purchase new cover without having to provide further evidence of health.

Customise your cover

Life Cover can also be offered through your superannuation (either through a Self Managed Superannuation Fund (SMSF) or the AIA Insurance Super Scheme No2).

Two options are available:

Superannuation Plus

Allows you to take Total and Permanent Disablement (TPD) and Crisis Recovery benefits outside of your superannuation fund.

Maximiser

Allows you to structure your TPD cover so it is held both inside and outside of superannuation.

Life Cover