Mortgage, Income or Rent Cover
Income Protection
Premier Cover option (Only available with Income Protection) If selected, this option provides you with the three additional benefits below and extra features within the Total and Partial Disability Benefits and the Bed Confinement Benefit available with your Income Protection.
Extra Cash Receive a one-off extra cash benefit equivalent to one third of your monthly payment for the first three months of your total disability claim. Permanent Disablement Receive an additional payment if you are considered permanently disabled and have been receiving the Total Disability Income Benefit for 24 months consecutively. Bereavement Grant If you pass away while receiving a Total Disability Income Benefit, a lump sum payment of three times the monthly income will be paid.
Compulsory additional benefit
Waiver of Premium We will waive your premium payments, while your insurance remains in place when you are unable to work due to total disability. This benefit is compulsory when taking out any personal disability income policy and you’ll incur an additional cost.
Optional add-ons
Specialist and Testing Support Covers the cost of private specialist consultations (up to $10,000 annually) and medical diagnostic tests and procedures (up to $100,000 annually) so you can access these services when you need to without worrying about the bills. Mental Health Limitation Choosing this option will reduce your premiums but means if you make a claim for mental health, you will only receive payments for 2 years throughout the life of your policy. This option is only available if you choose a benefit period to age 65 or 70. Claim Indexation Your Income Protection Insurance sum assured will increase on each anniversary date every year to account for the change in the Consumer Price Index (CPI). Retirement Protection If you become totally disabled, we will continue your contributions to your KiwiSaver scheme while you are receiving total disability income payments. Redundancy Cover If you are made redundant, you’ll be covered with monthly payments for up to six months.
This is a summary only. For all terms, conditions, limits and exclusions, please refer to the relevant policy wordings which can be found on aia.co.nz or speak to your adviser.
Did you know? In 2024, we paid over $97.2 million i n income protection insurance claims with an additional $1.38 million via our AIA 360 Care programme to assist with rehabilitation support.
PAID OUT $97.2M
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