AIA Living Life Insurance

AIA Living Life insurance protects your loved ones' future if you pass away or are diagnosed with a terminal illness.

LIFE INSURANCE

Our life insurance options AIA Living Life Cover

What is life insurance and why do you need it? Life doesn’t always go to plan. At AIA, we believe in the power of insurance to make a positive difference in people’s lives. Having life insurance protects your loved ones’ future by providing them with a lump sum or monthly payment if you pass away or are diagnosed with a terminal illness. We understand everyone’s circumstances are different, that’s why AIA offers a range of personal life insurance options designed to meet your needs. Key benefits of AIA Living Life Insurance • Whether you are at home, travelling or living overseas for any period, you remain insured with worldwide cover. • Counselling support of up to $2,500 to cover the cost of a Psychiatrist or Psychologist consultation for you and/or your family. • 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.

This is our most comprehensive life insurance, providing a lump sum when you pass away or an early payment if you’re diagnosed with a terminal illness. Cover includes early payment of up to $25,000 to help with immediate expenses like funeral costs and if needed, financial support of up to $20,000 to assist with returning your body to New Zealand or your home country. AIA Living Family Protection Designed to minimise the impact on lifestyle after your death through a monthly payment to your family rather than a lump sum. This includes an early payment of up to $25,000 to help with immediate expenses like funeral costs. AIA Living Accidental Death A simpler type of life insurance that provides a lump sum should you die as a result of an accident.

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 life 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 life insurance for $11.50 per month. *T&Cs apply.

aia.co.nz/life

What’s included with AIA Living Life Insurance:

Life Cover

Family Protection Accidental Death

Eligible age in years (inclusive)

10 to 70

16 to 60

Cover amount

Unlimited

$500,000

Cover expiry

No Expiry

Age 65

Save up to 15% on your premiums when you buy multiple eligible insurance policies.

Multi-Benefit Discount Start saving when you take out life insurance and at least one other eligible insurance product. T&Cs apply.

Can be added for $11.50 per month (16+)

Eligibility

Receive a 10% discount in your first year, then you’re in control of the discount you receive.

AIA Vitality Premium Discount Premium Flex rewards you with a discount on your insurance. The more engaged you are, the higher the discount. Conditions apply. Built-in Benefits Bereavement support Provides an early payment to help with immediate expenses to help with immediate expenses like funeral costs. Conditions apply. Terminal Illness P rovides an early payment if you are diagnosed with a terminal illness with a life expectancy of less than 12 months. Specified Terminal Illness Conditions If you suffer one of the specified terminal conditions, you can choose to have the lesser of 30% of your sum assured or up to $250,000 paid in advance. Financial and Legal Advice Reimbursement for the cost of receiving professional advice from an AIA approved financial adviser or a legal professional. Parents Grieving If your child passes away, we will pay you $2,000 for a child aged under 10 years and $15,000 for a child between 10 and 20 years of age. Repatriation Provides an early payment to assist with the costs associated with returning your body back to New Zealand or your home country (the country you were born in, or were a permanent resident of). Conditions apply. Special Events Increase Facility Enables you to increase the sum assured under your cover, without further medical underwriting following a significant event in your life which results in increasing financial responsibilities.

Up to $25,000

Up to $2,500

Up to $20,000

Life Insurance

Life Cover

Family Protection Accidental Death

Special Events Total Permanant Disablement / Trauma Facility At the time of a special event, you can apply to add a limited amount of ‘accelerated’ Critical Conditions cover, ‘accelerated’ Progressive Care or ‘accelerated’ Total Permanent Disablement cover to your Life Cover. Premium Conversion Facility Before reaching the age of 65 years, you have the option to convert all or part of your sum assured to a level premium structure without further medical underwriting. Counselling Financial support to cover the cost of a Psychiatrist or Psychologist consultation and/or counselling for you and/or your family where the treatment directly relates to a claim. Suspension of Cover AIA provides 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. Worldwide Cover Whether you are at home, travelling or living overseas for any period, you remain insured. 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

Up to $2,500

Optional add-ons

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. Waiver of Premium Remove the burden of paying premiums when you are unable to work due to total disability.

This is a summary only. For all terms, conditions, limits and exclusions, please read the policy wording.

Did you know? We plant a native tree in memory of our life insurance customers who have passed away via our partnership with Trees That Count. Since 2022, we have planted 9,932 trees .

We’re here to make a difference, our claims philosophy

Life doesn’t always go to plan; at AIA we want to be there when you need us the most. Our extensive claims data not only provides us with valuable insights into population health, but it signals where further support is needed to reduce the burden on New Zealand’s health system. Our vision is for New Zealand to become one of the healthiest and best protected in the world. We know making a claim is often a result of a difficult time when you need us the most. With one of the largest and most experienced claims teams in New Zealand, nationwide rehabilitation support and a transparent claims review process, we ensure your claims experience is excellent, fair and fast.

AIA latest annual claims by the numbers 1

797K OVER KIWIS PROTECTED.

WE ACCEPTED 92% OF ALL CLAIMS RECEIVED.

WE PAID $829.6M IN CLAIMS 2 .

1 TREE PLANTED IN MEMORY OF EVERY AIA LIFE INSURANCE CUSTOMER. WHO PASSED AWAY. SINCE 2022, WE HAVE PLANTED 9,932 TREES.

ONE OF THE LARGEST CLAIMS TEAMS IN NEW ZEALAND.

1. As reported by the AIA Business Insights team. 2. Including GST, maturities and surrenders.

Life Insurance

Total life claims paid in 2024 $298.1M

CANCER 54%

HEART 19%

NEUROLOGICAL 9%

RESPIRATORY 4%

CLAIMS BY AGE GROUP

20-29 $1.39M CLAIMS PAID

30-39 $16.13M CLAIMS PAID

40-49 $44.07M CLAIMS PAID

50-59 $91.77M CLAIMS PAID

60-69 $86.69M CLAIMS PAID

70+ $56.97M CLAIMS PAID

Neurological

$4.5M Cancer

$25.2M Cancer

$45.11M Cancer

$38.2M Cancer

$17.70M Cancer

$184K

Cancer

$1.4M Heart

$3.4M Heart

$20.7M Heart

$16.23M Heart

$9.81M Heart

$129K

$7.79M Respiratory

$940K Neurological

$1.3M Neurological

$3.5M Respiratory

$6.96M Neurological

$282K Respiratory

$3.10M Neurological

$4.14M Respiratory

$6.12M Neurological

Save on your insurance with Multi-Benefit Discount

Insurance is an important part of setting yourself up financially, protecting you and your family’s health, wealth, and wellbeing. We know you have everyday expenses to manage, so we’ll do what we can to help you out. How Multi-Benefit Discount works Start saving when you insure yourself with life cover and at least one other benefit from the optional categories below. At least one of your benefits must be from the AIA Living range and these will be the only benefits that receive the discount. Minimum cover amounts apply. Minimum cover amounts Benefits that count towards eligibility

Life Cover Family Protection* Accidental Death Critical Conditions Progressive Care

Life Insurance

$100,000

Compulsory category

Trauma Insurance

$75,000

Total Permanent Disablement Optional TPD Condition Start-Up Income Protection Income Protection Mortgage, Income or Rent Cover Business Continuity Rural Continuity Business Income Support

Total Permanent Disablement Insurance

$75,000

Optional categories (excludes Health Insurance)

Income Protection Insurance

$2,000 per month

* Converted to a lump sum amount taking into account the entire benefit term

Discount tiers

If you are eligible for Multi-Benefit Discount, the discount will be calculated based on the different optional categories you have benefits from, as follows:

Discount received

10%

One optional category

Life Insurance (compulsory category) Choose from Life Cover, family protection or accidental death cover.

12.5%

Two optional categories

Three optional categories or

15%

Already have existing policies with us?

When you take out new cover with AIA, we’ll take into consideration any existing cover you already have with us, to see if you qualify for Multi-Benefit Discount. If you’re eligible for a discount, this will only be applied to your benefits from the AIA Living range.

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Life Insurance

How Multi-Benefit Discount applies to specific Optional Benefits The below AIA Living optional benefits do not count towards your eligibility to trigger Multi-Benefit Discount. However, once you qualify for Multi-Benefit Discount you will also receive the discount on these optional benefits.

• Waiver of Premium

• Early Cancer Upgrade

• Income Protection Premier Cover

• Specified Accidental Injury Cover

• Redundancy Cover

• Children’s and Maternity

• Retirement Protection

• Future Insurability

• Critical Conditions Buyback

• Life Buyback

• Business Safeguard

Multi-Benefit Discount examples

Example 1 Phil has $200K of TotalCareMax (TCM) Life cover and $100K of TCM Critical Conditions cover. Phil does not qualify for Multi-Benefit Discount (MBD) as he does not have any benefits from the AIA Living range. Phil takes out AIA Living Income Protection Cover (IP) of $3,000 per month. Phil now qualifies for a 12.5% discount as he has Life + 2 optional categories. However, MBD will only apply to his IP benefit as that is the only benefit from the AIA Living range.

Does Phil have life cover?

Does Phil have a benefit from any of the optional categories that count towards MBD eligibility?

Which of Phil’s benefits will receive the MBD?

Discount

TotalCareMax Life Cover TotalCareMax Critical Conditions AIA Living Income Protection

TotalCareMax Critical Conditions AIA Living Income Protection

Life + 2 eligible optional benefit categories = 12.5% OFF AIA LIVING IP POLICY

TotalCareMax Life Cover

Example 2 Jane has $500K of AIA Living Life cover and $5,000 per month of Specified Accidental Injury Cover (SAIC). She does not qualify for MBD as SAIC is not an eligible optional benefit that qualifies for MBD discount. She subsequently takes out $100K of AIA Living Critical Conditions cover. Jane now qualifies for a 10% MBD discount (Life + Critical Conditions cover). Jane will also get the 10% discount on her AIA Living SAIC, as while it does not count towards eligibility for MBD, it still receives MBD.

Does Jane have life cover?

Does Jane have a benefit from any of the optional categories that count towards MBD eligibility?

Which of Jane’s benefits will receive the MBD?

Discount

Life + 1 eligible optional benefit category = 10% OFF AIA LIVING LIFE COVER, AIA LIVING SAIC & AIA LIVING CRITICAL CONDITIONS

AIA Living Life Cover

AIA Living Specified Accidental Injury Cover AIA Living Critical Conditions

AIA Living Life Cover

For full terms and conditions visit aia.co.nz/mbd

How to save on insurance with

and get up to $560 in rewards

When you become an AIA Vitality member you get a 10% premium discount on eligible insurance products in your first year. Your savings don’t end there, now you’re in control of the premium discount you can continue to receive through ongoing engagement with the AIA Vitality programme. Your premium discount will increase, decrease, or stay the same annually based on the AIA Vitality Status you have achieved at policy anniversary*. Plus, as soon as you’ve activated AIA Vitality you can start accessing tools and discounts through our partners to begin your health and wellbeing journey. When you make healthy choices, like tracking your sleep or reaching your weekly physical activity targets, you earn AIA Vitality Points. As you earn more points you’ll move from Bronze to Silver, Gold and finally to Platinum Status. Improve your AIA Vitality Status to earn up to $300 in Status Rewards.

Example of how your AIA Vitality Status impacts your premium flex and rewards you can earn:

GOLD 20,000 POINTS

BRONZE 0 POINTS

SILVER 10,000 POINTS

PLATINUM

30,000 POINTS

35,000 POINTS

-2.0% per annum to a minimum of 0%

-1.0% per annum to a minimum of 0%

+2.0% per annum up to a maximum of 20%

Retain current discount

PREMIUM FLEX

Example: Your AIA Vitality year 1 discount is 10% (the initial discount)

If you retain Bronze, your year 2 DISCOUNT WILL BE 8%

If you reach Silver, your year 2 DISCOUNT WILL BE 9%

+50 Airpoints Dollars™ If you reach Gold, your year 2 DISCOUNT WILL BE 10%

If you reach Platinum, your year 2 DISCOUNT WILL BE 12%

+100 Airpoints Dollars™

+125 Airpoints Dollars™

+25 Airpoints Dollars™

+$25 Woolworths Gift Card

+$50 Woolworths Gift Card

+$100 Woolworths Gift Card

+$125 Woolworths Gift Card

20% discount Gift Card

30% discount Gift Card

40% discount Gift Card

50% discount Gift Card

*More details on Premium Flex, refer to aia.co.nz/premium-flex. The table above is for illustrative purposes only.

Scan the QR code to experience a year with AIA Vitality using our interactive simulator.

Copyright © 2025, 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. 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.

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