Life Insurance

Considerations when you’re looking to purchase life insurance cover:

• An insurance adviser can help guide you through your questions and help you decide what level and type of cover you need, and how your cover can be adapted to suit your needs
• Know how much cover you need by considering your family situation; your debt (mortgage, personal loans, etc.) and other factors, such as being the owner of a business and what cover is needed to protect it.
• Know what the policy covers and what it does not cover. Know what the definitions in the policy means. These can differ depending on the insurance company that provides your cover.
  

• It protects your loved ones futures by providing them with a lump sum payment if you pass away, or are diagnosed with a terminal illness.
• It can protect your business if you or a key person passes away or are diagnosed with a terminal illness.
• The payment can be used for anything. For example: Paying a mortgage; taking time off work to take care of yourself if you are terminally ill; funeral costs; etc.
• Life insurance is your way of looking after your loved ones when you’re gone.
• There are built-in benefits in addition to the life cover payment, such as:
  • terminal illness benefit
  • financial and legal advice benefit
  • parents grieving benefit; etc,
    

There is no specific age at which you should get life insurance; rather it would depend on your

• personal circumstances
• family circumstances
• financial responsibilities.

If you have a mortgage, a spouse and children or others that depend on you financially, or if you own a business, you may want to consider having life insurance.

Note: There are minimum - maximum eligible ages for insurance products.

The amount of life insurance you need would depend on individual circumstances. It is recommended that you discuss this with an insurance adviser who will then be able to help you work out what amount you should be covered for.

We still might be able to offer you cover through our AIA Living and AIA Health ranges. To discuss your needs in more detail talk to us via Live Chat Mon-Fri (8:30am - 5:30pm).

Life Cover provides worldwide cover. Whether you’re at home, travelling or living overseas for any period, you remain insured.

AIA Life Cover products and Starter Plans do not contain exclusions for pandemics. If you need to make a claim related to COVID-19, as with any other claim, you will need to meet the ordinary eligibility requirements for your cover.

AIA Starter plans are for individuals only. However, you can add your partner as an additional policy owner after your plan has been issued. This is recommended because having them as an additional owner means they can assist you with the maintenance of your plan. In the event a claim is required, they are also able to lodge and receive claim benefits.