▪
When will AIA not pay a claim under the Optional Children’s and Maternity Benefit? AIA will not pay a benefit under the Optional Children’s and Maternity Benefit that arises as a direct or indirect consequence of:
Multiple sclerosis.
▪
Idiopathic Parkinson’s disease.
− within 60 days of the life assured surviving a period of 12 months after an accelerated Critical Conditions Benefit claim payment for all other
a pre-existing condition ; or
conditions (including the Optional Total Permanent Disablement condition, where applicable).
any congenital condition , except where expressly covered under the Children’s Congenital Conditions Benefit .
The Life Cover Benefit can be reinstated following a full payment claim or a partial payment claim.
The Optional Children’s and Maternity Benefit will cease if cover under the Critical Conditions Benefit ceases.
Only one Life Cover Buyback reinstatement will apply per life assured per policy.
Where the life assured has the Optional Critical Conditions Buyback Benefit, the Optional Children’s and Maternity Benefit can be reinstated in addition to their Critical Conditions Benefit, subject to the life assured satisfying the terms of the Optional Critical Conditions Buyback Benefit.
The maximum Life Cover Benefit that can be reinstated is 100% of the accelerated Critical Conditions Benefit claim or $2,000,000, whichever is the lesser.
What other conditions apply to cover reinstated under the Optional Life Cover Buyback Benefit?
The Optional Children’s and Maternity Benefit ceases on the child’s 21 st birthday.
No reinstated Life Cover Benefit is payable:
15. Optional Life Cover Buyback Benefit
− within six months (for the conditions listed above that require a six month survival period); or
What is the Optional Life Cover Buyback Benefit?
within twelve months (for all other conditions , including the Optional Total Permanent Disablement condition, where applicable),
−
The Optional Life Cover Buyback Benefit applies only if shown in the schedule and if you have selected an accelerated Critical Conditions Benefit. Where an Optional Life Cover Buyback Benefit is selected, this allows the Life Cover Benefit to be reinstated without the need to provide further medical evidence following an accelerated Critical Conditions Benefit claim, subject to the following conditions: The Life Cover Benefit can be reinstated to the level applying immediately before the accelerated Critical Conditions Benefit claim.
from the date of the accelerated Critical Conditions 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.
The Optional Life Cover Buyback Benefit can be exercised:
within 60 days of the accelerated Critical Conditions Benefit claim payment; or
−
Any accelerated benefits relating to the Life Cover Benefit for the life assured that have been reduced or
− within 60 days of the life assured surviving a period of six months after an accelerated Critical Conditions claim payment for one of the following conditions:
removed as a result of an accelerated Critical Conditions Benefit claim will not be reinstated.
16. Optional Critical Conditions Buyback Benefit
▪
Paraplegia.
▪
Quadriplegia.
What is the Optional Critical Conditions Buyback Benefit? The Optional Critical Conditions Buyback Benefit applies only if shown in the schedule . Where an Optional Critical Conditions Buyback Benefit is selected, this allows the Critical Conditions Benefit and where applicable, the Optional Early Cancer Upgrade Benefit and/or Optional Children’s and Maternity Benefit to be reinstated without the need to provide further medical evidence following a Critical Conditions Benefit claim,
▪
Diplegia.
▪
Hemiplegia.
▪
Alzheimer’s disease.
▪
Permanent blindness.
▪
Permanent loss of hearing.
▪
Dementia.
▪
Permanent loss of use of limbs .
1155 ALB-CC version 8 Effective 12 May 2026
Page 10 of 25
Powered by FlippingBook