What is the maximum amount of cover that can be reinstated?
What other conditions apply to cover reinstated under the Optional Life Cover Buyback Benefit?
The maximum Severe Trauma Benefit that can be reinstated is 100% of the Severe Trauma Benefit claim payment or $2,000,000, whichever is the lesser.
No reinstated Life Cover Benefit is payable:
− within six months (for the conditions listed above that require a six month survival period); or
When can the life assured exercise the Optional Severe Trauma Buyback Benefit?
within twelve months (for all other conditions , including the Optional Total Permanent Disablement condition , where applicable),
−
The Optional Severe Trauma Buyback Benefit can be exercised:
from the date of the accelerated Severe Trauma Benefit claim payment, except where the claim event is for accidental death . No Life Cover Buyback Benefit is available if the life assured has suffered a claim event under a Terminal Illness Benefit or a Specified Terminal Conditions Benefit under any AIA policy , whether or not a claim has been made. Any exercise of the Life Cover Buyback Benefit may require an increase in premium . This premium increase will be calculated on the rates applicable at the time the Life Cover Benefit is reinstated. Any accelerated benefits relating to the Life Cover Benefit for the life assured that have been reduced or removed as a result of an accelerated Severe Trauma Benefit claim will not be reinstated.
Within 60 days of the Severe Trauma Benefit claim payment; or
Within 60 days of the first anniversary of the Severe Trauma Benefit claim payment.
The Benefit(s) can only be reinstated on one occasion.
What other conditions apply to cover reinstated under the Optional Severe Trauma Buyback Benefit?
On AIA’s acceptance of an application for reinstatement of the Severe Trauma Benefit, you will be issued a new policy for the Benefit(s) and sum assured amount(s) being reinstated in which case: The new policy will be issued based on the information provided at the time of buyback, together with the information provided in the original proposal.
16.
Optional Severe Trauma Buyback Benefit
The terms and conditions of the new policy will be those which are then offered by us to the general public, with the exception that no further reinstatements under an Optional Severe Trauma Buyback Benefit will be available in respect of the reinstated Benefit(s). The reinstated Benefit(s) may require an increase in premium . This premium increase will be calculated at the rates applicable at the time the Benefit(s) are reinstated. However, where the Benefit(s) are reinstated after a Severe Trauma Benefit claim has been paid for cancer, stroke or heart attack – a discount will be applied to the Severe Trauma Benefit premium .
What is the Optional Severe Trauma Buyback Benefit?
The Optional Severe Trauma Buyback Benefit is available as an option once the life assured reaches age 16. The schedule will specify if you have chosen the Optional Severe Trauma Buyback Benefit. Where an Optional Severe Trauma Buyback Benefit is selected, this allows the Severe Trauma Benefit to be reinstated without the need to provide further medical evidence following a Severe Trauma Benefit claim, subject to the following conditions: The life assured must have had a claim paid on their Severe Trauma Benefit that has reduced the sum assured to a nil balance. No Severe Trauma Buyback Benefit is available if the life assured has suffered a claim event under a Terminal Illness Benefit or a Specified Terminal Conditions Benefit under any AIA policy , whether or not a claim has been made. A life assured can only exercise the Severe Trauma Buyback Benefit for the cover provided under this policy once.
Any special terms, exclusions or premium loadings that applied to the original Benefit(s) will also apply to the reinstated Benefit(s) under the new policy. If you had selected the Optional Total Permanent Disablement condition at the time of the first Severe Trauma Benefit claim, this condition will be included under the reinstated Severe Trauma Benefit, except where the Optional Total Permanent Disablement condition was the subject of the Severe Trauma Benefit claim.
1119 AL- ST version 1 Effective 14 November 2025
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