6. Things you should know
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.
These terms have a specific meaning:
AIA, us, our or we means AIA Services New Zealand Limited.
AIA Vitality Programme or AIA Vitality 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 or you 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 as set out on our website,
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 the 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.
Running Man 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.)
Standing Man 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).