Life Insurance
Provides a lump sum payment if you were to pass away or are diagnosed with a terminal illness.
What is Total Permanent Disablement Insurance?
It's easy to take good health for granted. But the reality is, sometimes we become ill or have an accident and, if it’s serious, we might not be able to work again. Total Permanent Disability Insurance can provide you with a lump sum payment and financial peace of mind that your lifestyle and family’s future will be protected if you become permanently disabled and are unable to work as a result of an accident or illness.
With eligible policies you also get the added benefit of earning Airpoints Dollars™ for premiums paid, and have the opportunity to join AIA Vitality, a science-backed health and wellbeing programme that rewards your healthy choices. T&Cs apply
Key benefits of AIA TPD Insurance
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TPD Insurance options
This option pays a lump sum if it becomes unlikely that you’ll ever be able to work in the specific occupation you were involved in immediately prior to incapacitation.
This option pays a lump sum if you become so incapacitated that it’s unlikely you’ll ever be able to work, in any occupation for which you are reasonably suited by education, training or experience, and which would pay remuneration greater than 25% of your pre-disability earnings during your last 12 months of work.
Assistance Benefit
Up to $15,000 may be reimbursed to cover costs of purchasing specialist equipment, completing home alterations or vehicle modifications which are necessary following a TPD benefit being paid.
Partial Permanent Disablement Benefit
This benefit is payable under certain circumstances (loss of sight in one eye, or loss of use of one hand or one foot); and will provide you with a lump sum payment of the lesser of 25% of your sum assured or $100,000.
Waiver of Total Permanent Disablement Waiting Period
AIA will, at its sole discretion, waive the three-month waiting period if an immediate medical assessment confirms total permanent disablement, and all other claim requirements have been met.
Total Permanent Disablement Future Insurability Benefit
You can apply to increase your Total Permanent Disablement benefit sum assured at every third policy anniversary without providing any further medical information. Limits and conditions apply and every increase in cover will require an increase in premium.
Financial and Legal Advice Benefit
This assists you at claim time to access financial and legal advice from an AIA approved financial adviser or legal professional. AIA will reimburse you for fees up to $2,500.
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. These significant events include getting married, having a child, your child starting secondary school, taking out or increasing a residential home loan or receiving a salary increase and other major events.
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.
Counselling Benefit
We will pay up to $2,500 (incl. GST) 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.
Suspension of Cover Benefit
AIA provide the flexibility to suspend your cover for up to 12 months, without medical evidence if you meet the following conditions:
No benefits will be payable for any claim event which occurs during this suspension period.
AIA Living Benefits
Enhancement Pass Back
We’re committed to keeping our insurance relevant for you. That’s why any improvements we make to our AIA products in the future are automatically applied to your policy, offering you even more at claim time.
Worldwide Cover
Whether you’re at home, travelling or living overseas for any period, you remain insured.
Waiver of Premium
We will waive your premium payments, while your insurance remains in place when you are unable to work due to total disability.
Accidental Injury Cover
Provides an up-front payment should you be injured accidentally. The payment you receive is based on the treatment you require and the cover you selected (up to $5,000 a month).
View frequently asked questions about AIA’s Total and Permanent Disablement Insurance products
At AIA, disability insurance is also known as Total Permanent Disability (TPD) insurance.
Key benefits of AIA’s Total Permanent Disability insurance are:
To find out more, please contact your insurance adviser or request an adviser call to discuss the many other benefits included.
The amount of cover you may need depends on your personal circumstances.
Consider your family situation, your debt (mortgage, personal loans, etc) and how a disability may affect your ability to maintain a comfortable lifestyle. There may be medical expenses, modifications required to your home and costs to help you to adapt to your new world.
Please speak to your insurance adviser or request an adviser call to discuss your needs.
Permanent disability might not only prevent you from working and earning, it could substantially increase the cost of maintaining a comfortable lifestyle for you and your family.
With Total Permanent Disability (TPD) Insurance you will get a lump-sum payment which can assist with your mortgage, cover medical expenses, modifications to your home or other bills so you can focus on adapting to your new world.
It is possible to get insurance if you are self-employed. Please contact your insurance adviser or request an adviser call to discuss your needs.
Your pre-existing condition may impact your application. However, it does not automatically disqualify you from eligibility. It is important to disclose your pre-existing condition to enable your application to be correctly assessed. The impact on your application will depend on the condition and your circumstances.
Please contact your insurance adviser or request an adviser call to discuss your needs
The Policy Owner owns and controls the policy and is responsible for payment of premiums. The Life Assured is the person who has been insured under the policy.
If you need to make any changes to a policy, we require written authority from the Policy Owner.
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. Copies of our disclosure statements are available on request, free of charge.
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
Earn Airpoints Dollars™ with any eligible AIA branded policy. For every $100 of premium paid, you will earn 1 Airpoints Dollar*. Click here for full Airpoints Dollars™ terms and conditions. AIA Vitality is available with eligible AIA health or life insurance policies and has a monthly membership fee of $11.50 (including GST). Click here for full AIA Vitality terms and conditions.
When you apply for insurance with AIA New Zealand Limited, you have a legal duty of disclosure to AIA.