If you don’t want the CPI increase to be applied in a particular year, other options may be available and are outlined in your anniversary letter. You can discuss these with your adviser or contact AIA directly.
For AIA Living and Sovereign policies:
If you hold AIA Living or Sovereign policies with CPI linked or Inflation cover, we may offer you additional options to manage your cover levels and premiums. For example, your anniversary letter may include the following options:
Increase your cover in line with the change in the CPI as set out in in your anniversary letter. If you are happy with this increase, you don’t need to do anything.
Increase your cover by a different rate than the change in the CPI (and what that rate is).
Decline the CPI increase and keep your current level of cover.
If you don’t let us know your preferred option, we will automatically increase your cover in line with the change in the CPI as set out in your anniversary letter.
If you decline the CPI increase or select a different level of indexation than the CPI rate, your premium will be adjusted to reflect the level of cover that you select.
For AIA policies issued before 5 August 2019 and AIA Real Policies:
Note if you hold an AIA policy issued before 5 August 2019 or an AIA Real policy unfortunately we cannot offer you the option to increase your cover by a lower rate than the CPI rate. If you want to decline the CPI increase and keep your current cover level, please contact your adviser or AIA directly.