Mortgage, Income or Rent Cover
Income Protection
Home Modification and Equipment Expense Receive a payment up to 12 times the monthly amount to cover costs of buying specialised equipment or completing home alterations because of your total disability. Bed Confinement If during the waiting period you are confined to bed under full-time care for more than three days and are in an occupation class other than five, AIA will pay a daily Bed Confinement Benefit. Future Insurability You can apply to increase your sum assured at every third policy anniversary without providing any further medical information. Limits and conditions apply and every increase in cover will result in an increase in premium. Back to Work Payment If you can return to work between 12 and 24 months after claiming, we will pay you a lump-sum payment equivalent to three times your monthly benefit. Pregnancy Premium Waiver AIA will waive the premium for six consecutive months at any stage between the second trimester and 6 months after your pregnancy finishes. You can claim during this period. Waiting Period Reduction If you have a waiting period of 26, 52 or 104 weeks, you can reduce this waiting period, without providing any further medical evidence, if your business or rural income protection is cancelled as you are no longer actively involved in the business or if the business has been sold or not actively trading. Home Care Provides an additional benefit payment to cover the services of a carer for up to 6 months. This benefit is paid in arrears and to the person providing the care. Childcare Support You could be entitled to reimbursement of the costs for additional childcare that you may need while you are totally or partially disabled for dependent child(ren) who are under the age of 14 years old. Property Special Event Facility If you have Mortgage, Income or Rent Cover you may choose to increase the sum assured if there has been one of the following events: an increase to an existing mortgage, the purchase of a new home, the purchase of a holiday home or the purchase of a bare block of land zoned as residential. Suspension of Cover AIA provide the flexibility to suspend your cover for up to 12 months, if you meet the conditions outlined in the policy wording. No benefits will be payable for any claim event which occurs during this suspension period. Enhancement Pass Back At claim time, we’ll compare your purchased product’s policy wording with the latest version of that product’s policy wording and apply the most favourable option for your claim. For more information visit aia.co.nz/passbacks Worldwide Cover Whether you’re at home, travelling or living overseas for any period, you remain insured. Concurrent Waiting Period If the life assured is disabled and able to receive a benefit under this policy, and you also hold Business Overheads, Business Continuity, Locum Cover or Rural Continuity, then the waiting periods applicable to the life assured under each policy will be served concurrently from the disablement date. Return Home If you’re outside New Zealand and suffer a total disability for the first time, you could access up to $10,000 towards the cost for you and a support person to return home.
Income Protection Insurance
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