Life Insurance
Provides a lump sum payment if you were to pass away or are diagnosed with a terminal illness.
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.
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Add AIA Vitality when you purchase total permanent disability insurance for $11.50 per month to receive:
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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.
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.
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In 2023, we paid out over $17 million in total permanent disablement claims.
AIA Living Total Permanent Disablement Insurance benefits^
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.
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
View frequently asked questions about AIA’s Total and Permanent Disablement Insurance
You are eligible to apply for AIA Living Total Permanent Disablement insurance if:
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 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.
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.
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.
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.
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.
When you apply for insurance with AIA New Zealand Limited, you have a legal duty of disclosure to AIA.