Rules

The AIA Vitality Discount is intended to reward members for their yearly engagement in the AIA Vitality Programme at their Policy Anniversary. As an AIA Vitality Member, all Eligible Benefits where you are the Life Assured, may be eligible for a Premium discount (the AIA Vitality Discount).

These Premium Adjustment Rules cover the following important points: 

• Eligible Benefits will automatically receive an Initial Discount of 10% after you, the Life Assured become an AIA Vitality Member. 
• After the Initial Discount, your AIA Vitality Discount will be determined by your level of engagement in each AIA Vitality Year that you are a member of the programme. We call this Premium Flex. 
• Your AIA Vitality Discount may increase or decrease depending on your engagement during each AIA Vitality Year. 
• We can vary these Premium Adjustment Rules at any time, including varying or restricting Eligible Benefits, provided we give you 30 days’ notice of the change. 

When you sign up to AIA Vitality the Eligible Benefits will receive an Initial Discount of 10%. If you do not meet the eligibility and registration requirements of AIA Vitality, your membership can’t be issued and the Initial Discount will not apply.

Your AIA Vitality Status reflects your engagement with the AIA Vitality Programme.

• When you join AIA Vitality you start on Bronze status. 
• You can earn points based on your engagement with the programme, which will help you progress to a higher status (from Bronze to Silver, Silver to Gold and Gold to Platinum). This status is called your Earned Status. 
• The status you have reached on your AIA Vitality Anniversary becomes your Anniversary Status. 
• The Anniversary Status, as at 2 weeks after your Policy Anniversary date, dictates the Premium Flex that will be applied to the Eligible Benefits of your policy on its Policy Anniversary date. 
• At your AIA Vitality Anniversary, your Earned Status resets to Bronze, your points to zero, and you start working towards your target for the next AIA Vitality Year.

Following the application of the Initial Discount, at each subsequent Policy Anniversary while you are an AIA Vitality Member, your Premiums on Eligible Benefits may be discounted.

For AIA Vitality members who are in their first 10 months of membership at a Policy Anniversary your Premium will not flex to your detriment:

• if you reach Platinum status your discount will increase in accordance with the table below; and 
• if your status is less than Platinum, you will retain your 10% discount. 

For AIA Vitality members in their first 11-12 months of membership at a Policy Anniversary your Earned Status will be used to calculate your Premium Flex in accordance with the table below.

For all other AIA Vitality members: 

• The AIA Vitality Discount that applied at your previous Policy Anniversary (your Baseline Discount), will be adjusted according to your Anniversary Status, as at 2 weeks after your Policy Anniversary date. 

The AIA Vitality Discount is applied to the regular insurance Premium, including loadings, but is not applied to the policy fee or to any part of the Premium that is a result of Per Mille Loadings (if any).

The Premium Flex will be applied at each Policy Anniversary but cannot be applied more than once in a 12 month period.

If you choose not to engage with AIA Vitality, or only engage enough to achieve a Bronze or Silver AIA Vitality Status, your discount will decrease annually until it reaches zero. However, a high level of engagement (Gold or Platinum) may result in your AIA Vitality Discount remaining the same or increasing up to 2% annually, up to a maximum of 20%. 

See our case study to better understand how your Premium Flex works. 

Your AIA Vitality Anniversary may be different from your Policy Anniversary and Premium Flex will only be applied to your Premium from your next Policy Anniversary, subject to the terms outlined above.

The Policy Owner will be notified of the impacts that any AIA Vitality Discount may have on the Premiums.

The AIA Vitality Discount is not guaranteed and we may withdraw or vary these Premium Adjustment Rules at any time providing that we give you 30 days’ notice of any change.

Should your AIA Vitality membership be cancelled or terminated in accordance with the AIA Vitality Terms and Conditions or if you do not proceed with your application for AIA Vitality membership, any AIA Vitality Discount (including the Initial Discount) applied to the Eligible Benefits will be removed from your next Premium due date.

In this document these terms have a specific meaning:

• AIA, us, our or we means AIA Services New Zealand Limited.  
• AIA Vitality or AIA Vitality Programme means the health and wellness programme offered by AIA or our delegate in New Zealand from time to time.
• AIA Vitality Anniversary means the anniversary of the commencement date of an AIA Vitality membership. 
• AIA Vitality Discount means the discount to be applied to the Premium for your Eligible Benefit(s) at each Policy Anniversary after being adjusted according to your AIA Vitality Status at that time. 
• AIA Vitality Member, you or your means a Life Assured who has been accepted into AIA Vitality Programme in accordance with the AIA Vitality Terms and Conditions. 
• AIA Vitality Status means an AIA Vitality Member’s membership status of either Bronze, Silver, Gold or Platinum as determined by AIA in accordance with the AIA Vitality Terms and Conditions. 
• AIA Vitality Terms and Conditions means the terms and conditions relating to the AIA Vitality Programme set out on our website, www.aia.co.nz/vitality 
• AIA Vitality Year means the period that starts on the date that you become a member and every year thereafter on your AIA Vitality Anniversary, i.e. Year 1 is the period that starts on the date you become a member and Year 2 starts on the anniversary. 
• Baseline Discount means the AIA Vitality Discount that applied at the previous Policy Anniversary, which could be the Initial Discount or the Premium Flex discount. 
• Eligible Benefit means any benefits under an insurance policy(s) held by an AIA Vitality Member that have been determined by AIA as being eligible to receive an AIA Vitality Discount. 
• Initial Discount means the 10% discount that is applied to the Premium relating to any Eligible Benefit(s) under your insurance policy when you first join AIA Vitality. 
• Life Assured means a person who is insured for an Eligible Benefit administered by AIA Services New Zealand Limited.
• Per Mille Loading means an additional premium charged in respect of a Life Assured because of an increased risk factor, for example, due to a health problem, a hazardous occupation, or dangerous pastime. Per Mille Loadings are calculated in relation to the sum insured, which is different from other loadings that are calculated in relation to the base Premium. 
• Premium means the premium to which the AIA Vitality Discount is applied; which includes the regular insurance premium and loadings, but excludes Per Mille Loadings, policy fees and any AIA Vitality membership fee. 
• Premium Flex means the adjustment, whether an increase or decrease, to the AIA Vitality Discount as a result of your AIA Vitality Status. 
• Policy Anniversary means the anniversary of the commencement date of the policy, under which you have an Eligible Benefit, or such other date as may be determined by AIA and notified to you. 
• Earned Status means an AIA Vitality Member’s membership status in their current membership year (i.e. Bronze, Silver, Gold or Platinum as determined by AIA in accordance with the AIA Vitality Terms and Conditions.) 
• Anniversary Status means an AIA Vitality Member’s membership status as at the last day of their previous AIA Vitality membership year (i.e. Bronze, Silver, Gold or Platinum as determined by AIA in accordance with the AIA Vitality Terms and Conditions).