What are the benefits of disability insurance?

At AIA, disability insurance is also known as Total Permanent Disability (TPD) insurance. Key benefits of AIA’s Total Permanent Disability insurance are: A lump sum payment that can help with medical treatment costs, employing a caregiver or ongoing household expenses, or any other expenses. Access up to $15,000 to help modify your home or vehicle, or buy specialist medical equipment to help adjust to your new circumstances. Access up to $2,500 for financial planning and legal advice. To find out more, please contact your insurance adviser or request an adviser call to discuss the many other benefits included.

Why should I consider disability insurance?

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.

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What is total permanent disability insurance?

Total permanent disability insurance can also be known as total permanent disablement insurance or TPD insurance.

AIA Total Permanent Disablement insurance provides financial support in the event you become permanently disabled and are unable to work due to serious illness or injury. This lump sum payment can help cover medical expenses, mortgage, or rent payments, home modifications, employing a caregiver and other bills that may arise as a result of disability.

AIA Vitality is our personalised, science backed health and wellbeing programme that supports you every day to make healthier lifestyle choices. It takes you on a journey to better health - where you get to know your health, improve it, and enjoy the rewards for doing so.

Add AIA Vitality when you purchase total permanent disability insurance for $11.50 per month to receive:

an initial 10% premium discount* on your first year's premium
earn up to $560 in vouchers or Airpoints Dollars™ per membership year
exclusive rewards and discounts from our partners.

*T&C's apply.

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Why do I need permanent disability insurance?

Could your family get by if your income was to completely stop, as a result of disability? Being permanently disabled can have a large impact on your life and can prevent you from working or earning an income. It can also add additional costs for you and your loved ones.

Having permanent disability insurance is important because it provides a safety net for you and your family. It can help ensure that you are able to maintain your standard of living and meet your financial obligations even if you are no longer able to generate an income.

What is the difference between own occupation and any occupation?

There are two ways of defining total permanent disability insurance based on 'own occupation' and 'any occupation' that impact your claim and the premiums you pay.

Any occupation is when you become permanently disabled and are unable to perform any type of work reasonably suited to your education, training, or experience.
Own occupation is when you cannot resume your usual work responsibilities within your current role or industry, but still have the capacity to work in a different role.

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Did you know?

In 2023, we paid out over $17 million in total permanent disablement claims.

AIA Living Total Permanent Disablement Insurance benefits^{^}

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Built in benefits

Assistance benefit

Financial support to help adjust to your new circumstances. This could be used to modify your home, vehicle or if you require specialist medical equipment for example.

Up to $15,000

Partial permanent disablement

Entitlement to receive financial support for partial disability. E.g. loss of sight in one eye.

Lesser of 25% of the sum assured or $100,000

Waiver of waiting period

Once assessment is completed, and it’s confirmed that you are expected to survive beyond three months after the disability and all the requirements have been met, then the normal three-month waiting period is waived.

Financial and legal advice

Financial support to access advice from an approved financial adviser or legal professional.

Up to $2,500

Future insurability

You can apply to increase your sum assured at every third policy anniversary without providing any further medical information.

Special events increase facility

You can increase the sum assured without medical underwriting, following one of the significant events outlined in the policy.

Premium conversion

Before reaching the age of 65, you have the option to convert all, or part of your sum assured to a different premium structure without further medical underwriting.

Counselling

Covers the cost of a Psychiatrist or Psychologist consultation for you and/or your family where the treatment relates directly to the claim.

Up to $2,500

Suspension of cover

AIA provide the flexibility to suspend your cover for up to 12 months, for the events specified in the policy. No benefits will be payable for any claim event during the suspension period. 

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

Worldwide cover

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

Optional add-ons

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.

^This is a summary only. For all terms, conditions, limits and exclusions, please read the policy wording.

Do you want additional peace of mind?

Explore our other insurance products available to extend your cover

Did you know you could save up to 15% when you buy multiple eligible insurance products? (excl Starter Plans) Find out more

Life Insurance

Provides a lump sum payment if you were to pass away.

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

Trauma Insurance

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

Find out more

Specified Accidental Injury Cover

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

Find out more

More about AIA LIVING TOTAL PERMANENT DISABLEMENT INSURANCE

FAQs

View frequently asked questions about AIA’s Total and Permanent Disablement Insurance

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Am I eligible to apply for Total Permanent Disablement insurance?

You are eligible to apply for AIA Living Total Permanent Disablement insurance if:

You are 16 to 55 years of age (or up to age 60 if you work in a clerical, managerial or professional job); and
You are a New Zealand citizen or a permanent resident or you hold a current New Zealand work permit or a long term New Zealand business visa.

Am I eligible for disability insurance with a pre-existing condition?

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.

How much disability insurance cover do I need?

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 back to discuss your needs.

How do I get disability insurance as a self-employed individual?

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.

Are all occupations eligible?

No. Most occupations are eligible, however some high-risk occupations aren't due to the nature of this occupation and the risks they present from an insurance perspective. Some examples of occupations that are not eligible for Total Permanent Disablement cover include armed forces personnel, police, prison guards, firemen, coal miners, professional divers and pilots.

Are there any pastimes or activities which cannot be covered?

Yes, there are some pastimes and activities which cannot be covered. If you participate in, or intend to participate in, a potentially hazardous activity and that activity cannot be covered, you will be notified before your policy is issued. If an activity cannot be covered, an exclusion will be specified in the policy at the time it is issued. Some examples of pastimes and activities which might be subject to an exclusion are gliding, motor racing, mountain climbing and scuba diving to depths of greater than 40 metres.

Policy Wordings

AIA Living Total Permanent Disablement Personal

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Umbrella

Total Permanent Disablement

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). 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.

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