A range of options that provide either monthly payments or a lump sum in the event you or a key person becomes seriously ill, injured or dies. It can help with keeping your farm or sharemilking business running.
BUSINESS
RURAL INSURANCE
Our rural insurance options AIA Living Rural Continuity Protects the future of your farm with monthly payments of an amount agreed at the time you take out your policy. Other business insurances You can choose to take out the below insurances for business or personal purposes depending on what best suits your needs: • AIA Living Life Cover • AIA Living Total Permanent Disablement
What is rural insurance and why do you need it? A range of options that provide either monthly payments or a lump sum in the event you or a key person becomes seriously ill, injured or dies. It can help with keeping your farm or sharemilking business running. You’ve worked hard to build your farm and it’s often your family’s legacy. So make sure it’s looked after if you become seriously ill, injured or even die. This financial support gives you time to decide your next steps, whether that’s to keep the farm going, or sell up and focus on your future. Key benefits of our rural insurance • Choose whether you want to offset ACC payments or not • Take out our optional Peak Season Upgrade Benefit to increase your claim by an additional 25% for three months during your peak season • Upgrade with our Business Income Support Benefit to access even more support when managing a long term illness or injury • Enhancement Pass Back, that means any future improvements made to your purchased AIA Living product will be automatically applied to your policy, providing you with even more coverage. 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.
• AIA Living Critical Conditions • AIA Living Progressive Care • AIA Living Severe Trauma
AIA Vitality is our personalised, science-backed health and wellbeing programme that supports you every day to make healthier lifestyle choices. It takes you on a journey to better health - where you get to know your health, improve it, and enjoy the rewards for doing so. Add AIA Vitality when you purchase rural insurance to receive: • an initial 10% premium discount* on your first year’s premium • earn up to $560 in vouchers or Airpoints Dollars TM per membership year • exclusive rewards and discounts from our partners.
Add AIA Vitality to your rural insurance for $11.50 per month. *T&Cs apply.
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Look after what you’ve built
Running a farm can be challenging enough without having to worry about the unexpected consequences of illness or injury. We can help you plan now for a secure future. Generally, as a farmer you work and live in the same place along with your family, so challenges or changes directly impact your work and home life at the same time. If something should happen to you or a key person, the right insurance can help you make the next step that’s right for you and your farm. The financial support could keep your farm running and provide your family with financial security. Meanwhile you can adjust to any changes to your situation, or if really needed, take time to sell and focus on your new future.
We’re here to help As well as our Rural Continuity insurance which is specific to your industry, we also have a suite of insurances across life, trauma and total permanent disablement that can be taken out for business or personal purposes depending on your needs.
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RURAL INSURANCE OVERVIEW
AIA Living Rural Continuity This is designed to meet the needs of farmers and their partners who also work on the farm, actively involved family members who have no direct ownership of a farm but have clear rights of succession or beneficial ownership in relation to it, farm managers, and sharemilkers. Setting up insurance for your farm is an essential financial safety net to protect you if you’re unable to continue farming for more than 10 hours a week due to illness or injury. As your farm can have variable cash flows, there’s minimal requirement for proof of financial income, which also means less paperwork. Your monthly benefit payments will be an amount agreed at the time you apply, based off a proportion of your farm or sharemilking turnover.
You decide the timing and ACC offsets For Rural Continuity, you choose the time you wait before you’ll start receiving payments, how long you want to receive them for, and if you want ACC offsets. Waiting Period This is the length of time between you becoming disabled and when you start receiving the benefit payments. Choose from 4, 8 or 13 weeks. Benefit Period The length of time you receive could the benefit payments for either: 6, 12, or 24 months. ACC Offsets At the time of application, you choose whether your payment is reduced by the amount of ACC payments you receive or are entitled to receive. Electing to offset ACC payments can reduce your premiums.
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Rural Insurance
AIA Living Life Cover Life insurance is one of the most simple but important types of insurance. It provides a lump sum if you or a key person dies, or is diagnosed with a terminal illness. AIA Living Total Permanent Disablement (TPD) This provides a lump sum payment if you or a key person become totally permanently disabled and unable to work due to illness or injury. You can choose to take it out under either of the below options. Own occupation Where it’s unlikely you’ll be able to work in the specific occupation you were involved in immediately prior to incapacitation. Any occupation Being unlikely to ever be able to return to any work in any occupation that is reasonably suited to your education, training or experience - one which would pay you at a rate greater than 25% of your earnings during your last 12 consecutive months of work
Secure your legacy by being prepared for what tomorrow holds. Our insurance options widen your cover so you can focus on your farm today.
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AIA Living Critical Conditions This is our most comprehensive trauma insurance, providing financial support through full or partial lump sum payments for a wide range of defined medical conditions, so you can focus on recovery, not expenses. Plus, with the option to buy back your cover after a claim, you can maintain long-term protection and peace of mind. AIA Living Progressive Care Affordable trauma cover that can provide multiple payments for defined medical conditions based on how serious your condition is; more serious illnesses receive greater financial support. This ensures you’re covered across five key health categories, and even if you’ve received a full payment in one area, you may still be eligible to claim in others. AIA Living Severe Trauma Our most cost-effective trauma cover, designed to support you through life-changing medical events. It focuses on fewer, more severe conditions that have a very significant impact on your day-to-day life. AIA offers one of the most comprehensive trauma insurance ranges in New Zealand, giving you the choice of your level of cover to suit your budget. By combining our trauma products, you can create a personalised protection plan that meets your needs. Whether you’re looking for comprehensive cover, or a cost-effective solution for serious illnesses, our options work together to provide layered protection, so you’re supported for a wide range of conditions.
Understand your cover It’s important to understand that while a medical condition might be covered under multiple products, the definition, severity level and claim requirements can differ between them. Always refer to the specific policy wording to ensure clarity on what’s covered and how.
Keeping up with your success One of the key reasons you might need to take out these insurances as Business rather than Personal is to access our Business Safeguard Facility available with Life, Total Permanent Disablement, Critical Conditions and Severe Trauma cover. With this optional benefit you can support your growing business by applying to increase your sum assured when your financial responsibility in your business increases, without providing any further medical information. This will increase your premium, limits and conditions apply, and every increase in cover will result in an increase in premium.
For more details on what’s included within these products view our brochures at aia.co.nz/our-products For flexibility around your individual situation, these products can all be taken out as Personal or Business.
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Rural Insurance
What’s included with our Rural Continuity
Total Disablement Benefit You will receive a monthly benefit less offsets if you are totally disabled. Recurrent Disablement Benefit The waiting period will be waived if you become disabled again and it’s caused by the same or a related illness or injury. This is subject to AIA’s opinion after considering the advice of a registered medical practitioner and other relevant information. Rehabilitation and Support One of our dedicated case managers will work with you to understand your personal situation and will consider what assistance could aid your return to work, or improve your capacity to work. Waiver of Premium This can remove the burden of paying premiums when you are unable to work due to total disability. We will waive your premium payments, while your insurance remains in place. This benefit is compulsory with Rural Continuity cover and you’ll incur an additional cost. You will have the option of choosing the wait period.
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Below are some extra benefits you can add to your Rural Continuity to give you additional support. Optional benefits you can add on
Specified Accidental Injury Cover This optional benefit provides a single up-front payment, should you experience an accidental injury. This payment can be used for whatever you need: covering treatment costs, getting taxis to work, hiring someone to help with children, or simply taking time off work to recover. You choose how much cover you need, up to $5,000 a month, and the lump sum you receive is based on the treatment you require. Making a claim under this optional benefit is not affected by payments from ACC or other insurances you may have. Peak Season Upgrade Benefit You will receive an additional 25% of the monthly benefit while you are still receiving a Total Disablement Benefit during the nominated 3 month peak season period.
A note on exclusions and benefits Our rural insurance (including the built-in benefits and optional benefits in this brochure) is subject to certain stand-down periods and exclusions. Please also note that the optional benefits are subject to an increase in premium and their own terms and conditions. For more information, please refer to the relevant policy wordings which can be found on aia.co.nz or speak to your Adviser. Upgrade with Business Income Support Benefit This benefit extends your Rural Continuity insurance to provide further support which is especially important if you face a long term illness or injury. These are the benefits included in our Business Income Support Benefit: • Total Disablement Benefit • Partial Disablement Benefit Partial Disablement Bridging Benefit • Recurrent Disablement Benefit • Vocational Assistance • Home Modification and Equipment Expenses Benefit • Rehabilitation and Support
Partial Disablement Benefit This provides additional income if, owing to a
continuation of the disability, you are working less than 75% of the working hours stated at application time and have been totally disabled. If you choose to take this benefit you’ll also have access to: Partial Disablement Bridging Benefit If you move from a total to partial disability benefit, this pays a lump sum equal to 1/3rd of the last monthly total disability benefit to help cover costs during the transition period.
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Rural Insurance
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Disclaimer
Other things you should know: the availability of insurance cover is subject to your application being approved. All applications are subject to individual consideration. Special conditions, exclusions and premium loadings may apply. This insurance is underwritten by AIA New Zealand Limited (‘AIA’). For full details of the products and benefits offered by AIA, please refer to the policy document(s) which are available from AIA. The information contained in this publication is general in nature and is not intended as advice. It may not be relevant to individual circumstances and before making any insurance decision, you should consult a professional Adviser. Copyright © 202 6 , AIA New Zealand Limited (352806). All rights reserved. The information contained in this document is current at the time of publication and is subject to change at any time.
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