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Family life insurance nz

AIA LIVING

family protection

Keeping your family financially supported when life takes an unexpected turn.

What is Family Protection?

Life can be full of twists and turns. At AIA, we’re here to support you through them. Family Protection is a life insurance option that gives your loved ones a monthly payment for a chosen period if you pass away, helping them to stay financially supported during a difficult time.

Family Protection insurance often works alongside lump-sum life insurance options like Life Cover which would provide a one-off payment when you pass away.

The regular monthly payments from Family Protection Insurance can provide help to cover day-to-day living costs for your family, like groceries, bills, childcare, education, and general household expenses.

The ongoing financial support from Family Protection insurance can help your family maintain stability while they navigate a new normal without the added stress of meeting everyday costs.

Why get insurance advice?

Financial advisers combine the knowledge of our insurance options with an in-depth understanding of your financial situation, so you can feel informed and confident about your decision; whether that means applying for life, trauma, disability, or health insurance.

How you can save on your life insurance

Save up to 15% when you bundle life insurance and other eligible insurance products with our Multi-Benefit Discount. You can also add  AIA Vitality  to eligible products to receive an additional 10% discount on your first year’s premium. Then you’re in control of the discount you receive through ongoing engagement with the AIA Vitality programme. Be sure to explore our  latest promotions. 

Ready to get started?

In 2023, we paid over $263 million in life insurance claims. Most of these claims were for those aged between 50-59.

Did you know?

In 2024, we paid over $298 million in life insurance claims. Most of these claims were for those aged between 50-59.

Key Features of AIA Living Family Protection Insurance

Bereavement support

Recieve an upfront payment to help with immediate expenses like funeral costs. Conditions apply.

Financial and legal advice

Reimbursement for the cost of receiving professional advice from an AIA approved financial adviser or a legal professional.

Counselling  

Access financial support to cover the cost of a Psychiatrist or Psychologist consultation and counselling for you and/or your family where the treatment directly relates to a claim.

Parents grieving

Offers financial support if your child passes away, $2,000 if your child is under 10, and $15,000 if your child is aged 10–21.

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. No benefits will be payable for any claim event which occurs during this suspension period.

Flexibility for special events

Lets your client increase their cover without any further medical evidence if certain special life events occur.

AIA Living Family Protection benefits

Eligible age in years (inclusive)

10 to 70

Cover amount

Unlimited

Claim Payment Options

Fixed term: minimum 5-year term, maximum 30-year term.
 
To age: minimum 15-year term between age 31 and age 70.

Cover expiry

No expiry

Multi-Benefit Discount

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

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

AIA Vitality

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

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.

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

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Built-in Benefits

Bereavement support

Provides an early payment to help with immediate expenses like funeral costs. Conditions apply.

Up to $25,000

Financial and legal advice

Financial support up to $2,500 to receive legal and financial advice from an AIA approved financial adviser or legal professional.

Up to $2,500

Parents grieving

If your child passes away, we will pay you $2,000 if your child is aged under 10 years and $15,000 if your child is between 10-21 years of age. 

Up to $2,000 or $15,000

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.

The maximum increase for each event cannot exceed the lower of:

50% of family protection benefit; or

$500 per month.

And, the total increases made under this facility cannot exceed the lower of:

50% of the family protection benefit; or

$1,500 per month

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.

Covert to a level premium under 65 without further medical underwriting.

Counselling

Financial support up to $2,500 to cover the cost of a Psychiatrist or Psychologist consultation and counselling for you and/or your family where the treatment directly relates to a claim.

Up to $2,500

Suspension of cover

AIA provide 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.

Up to 12 months

Worldwide cover

Whether you’re at home, traveling or living overseas for any period, you remain insured.

Remain covered wherever you are

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.

Receive the most beneficial wordings to you

Optional add-ons

Specialist and Testing Support

Covers the cost of private specialist consultations and medical diagnostic tests and procedures (limits apply) so you can access these services when you need to without worrying about the bills.

Learn more

Up to $10,000 annually for specialist consultations

Up to $100,000 annually for diagnostic tests and procedures

Specified Accidental Injury Cover

Short term financial support, helping you continue your daily life while recovering from an accident.

Waiver of premium

In an unfortunate event of early diagnosis of a covered critical illness such as cancer, AIA provides you with cash compensation for heavy medical expenses to ease your burden, and face difficulties together.

We will waive your premium payments, while your insurance remains in place 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.

Get a quote in just 2 minutes to find out your life cover premium cost. If you have questions about comparing policies and selecting the best insurance cover, talk to an insurance adviser or apply online when you are ready.

Do you want additional peace of mind?

Explore our other insurance products available to extend your cover, plus save with our Multi Benefit Discount.

Trauma Insurance

Financial support if you or your child become seriously ill or injured.

Find out more

Income Protection Insurance

Monthly payment to replace a portion of your income if you are unable to work due to sickness or injury.

Find out more

Cancer Insurance

Specialist health insurance that focuses on cancer diagnosis, treatment, and recovery.

Find out more

Total Permanent Disability Insurance

Provides a lump sum payment if you become permanently disabled and are unable to work due to accident or injury.

Find out more

More about AIA Living Family Protection

FAQs

View frequently asked questions about AIA's Family Protection insurance.

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How does Family Protection differ from Life Cover?  

AIA Living Family Protection provides your family with a monthly payment for a chosen period if you pass away, helping maintain their day‑to‑day lifestyle. It is designed to minimise the financial impact on covering expenses after your death by paying a regular amount rather than paying a single lump sum.

AIA Living Life Cover provides a lump sum payment if you pass away or are diagnosed with a terminal illness. Your loved ones can use this lump sum to help them manage their financial needs, for example mortgages, debts, funeral costs, or long‑term family expenses.

Are all occupations eligible?

Yes. Regardless of your occupation (or even if you have no job at all right now), you are eligible to apply for Family Protection nsurance.

Policy Wordings

AIA Living Family Protection

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Family Protection

Waiver of premium

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.

A note on exclusions and benefits
This insurance (including the built-in and optional benefits) is subject to certain stand down periods and exclusions. Please also note that the optional benefits are subject to an increase in premium and their own terms and conditions.

Terms and conditions apply
AIA Vitality is available with eligible AIA health or life insurance policies and has a monthly membership fee of $11.50 (including GST). For more details on Premium Flex we recommend you refer to the AIA Vitality Premium Adjustment Rules. Learn more about how you can earn an Apple Watch Series 11 (GPS)*. View the full AIA Vitality terms and conditions.

Your Duty of Disclosure

When you apply for insurance with AIA New Zealand Limited, you have a legal duty of disclosure to AIA.

Find out More

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family protection

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Did you know?

Bereavement support

Financial and legal advice

Counselling

Parents grieving

Suspension of cover

Flexibility for special events

Do you want additional peace of mind?

Trauma Insurance

Income Protection Insurance

Cancer Insurance

Total Permanent Disability Insurance

More about AIA Living Family Protection

FAQs

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Policy Wordings

AIA Living Family Protection

AIA Living Family Protection

Disclaimer

Code of Conduct & Procedures

Counselling  