assured is less than $240,000 per annum. Future Insurability Benefit increases cannot be used to increase the Income Protection Benefit sum assured to more than $240,000 per annum, or to be in excess of the agreed replacement ratio disclosed in your application. If the Future Insurability Benefit applies for a life assured , then the Income Protection Benefit sum assured for the life assured may be increased without the need to provide further medical evidence, subject to the following conditions: > The Income Protection Benefit sum assured for the life assured may be increased by up to the lower of $12,000 per annum or 10% of the Income Protection Benefit sum assured for the life assured set out in the schedule . > You can only apply for an increase in cover under this Future Insurability Benefit for a life assured once every three years, or in the case relating to an increase in income once per year, and you must apply to AIA in writing within 60 days either side of the applicable policy anniversary date . > If the increase is related to your increase in income you must apply in writing to AIA and provide evidence satisfactory to AIA of the life assured’s increased income within 60 days of the increase in income. This evidence is either:
> the life assured is no longer totally disabled or partially disabled ; and
> the life assured has ceased to be on claim with AIA .
The Back to Work Payment is a lump-sum payment equivalent to 3 times the life assured’s monthly disability benefit for the last full month immediately before the claim ceased, as calculated in accordance with Section 2 for a total disability, and Section 6 and (if applicable) Section 7 for a partial disability. AIA will only pay the Back to Work Payment once per claim across all AIA policies, and it will not be paid where the benefit payment period is one or two years. If the life assured suffers a recurrence of the same or a related illness or injury within 12 months of a Total or Partial Disability Income Benefit ceasing, then any Back to Work Payment made in respect of that claim will be deducted from the amount of the Total or Partial Disability Income Benefit payable.
19. What is the Pregnancy Premium Waiver?
AIA will waive the premium for this Income Protection Benefit for six consecutive months at any stage between the second trimester and six months after the life assured’s pregnancy finishes if the life assured becomes pregnant while this Income Protection Benefit is in force provided: the life assured provides AIA with a confirmation of pregnancy from an appropriate registered medical practitioner ; and the birth of the child occurs at least 12 months after: − the risk commencement date ; or − the most recent reinstatement of this Income Protection Benefit; and
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confirmation of the increase in salary from the life assured’s employer; or In the case of a life assured who is self-employed, the life assured’s annual accounts showing an increase in the Net Profit amount before tax, less expenses.
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> The total of all Future Insurability Benefit increases for a life assured cannot exceed 100% of the original Income Protection Benefit sum assured for the life assured . > AIA will increase the Income Protection Benefit sum assured for the life assured from the date we accept your request. > AIA will not accept an application under this Future Insurability Benefit to increase cover for a life assured if you are entitled to or are receiving payment of a claim for a disability that the life assured suffered on or before the date of the application. > A life assured over the age of 55 is not eligible for Future Insurability Benefit increases. > Any exercise of the Future Insurability Benefit will require an increase in premium . The premium increase will be based on AIA’s premium rates applicable at the time the Future Insurability Benefit is exercised.
the life assured is on maternity leave .
You must notify AIA in writing when the premium is to be waived. This Pregnancy Premium Waiver will cease when six consecutive months premium have been waived.
20. What is the Return Home Benefit?
If the life assured is outside of New Zealand and suffers, for the first time a total disability , upon acceptance of the claim AIA will pay the lesser of:
three times the monthly benefit specified in the schedule; or
a single standard economy flight back to New Zealand for the life assured and one support person. In total the maximum AIA will pay over the life of the Policy under the Return Home Benefit is $10,000. No payment will be made if the life assured is covered for the same event with a travel insurance provider.
18. What is the Back to Work Payment and when will AIA pay it?
AIA will pay you a Back to Work Payment if:
> a Total or Partial Disability Income Benefit has been paid for a life assured for a continuous period of longer than 12 months but less than 24 months; and > the life assured engages in work or carries on business; and
21. What is the Childcare Support Benefit?
1108 AL-IP version 5 Effective 12 May 2026
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