AIA Priority Protection Life Cover

Keep your family's future protected with life cover from AIA

It's important to prepare for the unexpected. Being financially stable is something that most people strive for. However, accidents happen. As the saying goes, the best laid schemes of mice and men often go awry, which is why they provide AIA Priority Protection Life Cover.

AIA Priority Protection Life Cover provide policyholders with financial security should the worst happen. If you're ready to receive a quote from AIA, please fill out the form below. If you would like to read more information about the product, please continue reading.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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Life Benefit Cover5-year Term10-year TermAccidental Death
Premium Structure
Level Premiums
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Stepped Premiums
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Optimum Premiums
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Built-in Benefits
Death Benefit
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Terminal Illness Benefit
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Premium Freeze
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Benefit Indexation
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Final Expenses
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Financial Planning Reimbursement
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Guaranteed Future Insurability
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Complimentary Family Final Expenses
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Complimentary Interim Accidental Death Cover
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The most outstanding features of the AIA Priority Protection Life Cover Plan are its:

  • 28 day cooling off period. This means you won't have to worry about what you have got yourself into. You can take your time and fully examine what you are receiving without any pressure being imposed by anyone, knowing all the time that you have 28 days up your sleeve to pull out if something shows up that you don't agree to.
  • A $25,000 Funeral payment. We all know how much funerals cost these days and how much such a cost can eat into the money you planned for your beneficiaries to receive on your death. On receipt of the insured's death certificate, AIA will make an advanced payment from the insured sum equal to the lesser of $25,000 and 10% of the sum insured to assist with immediate financial expenses.
  • Unlimited cover. Yes, you read it right. An AIA Priority Protection Life Cover Plan will pay unlimited cover for certain occupational categories.
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Protection You Get from AIA Priority Protection Life Cover Plan

There are four variations of AIA Life Plans offered by AIA Australia these are:

  • Accidental death. This plan only pays compensation in the event of death resulting from an accident.
  • 5-year term and 10-year terms. In both the 5-year plan and the 10-year plan the policy pays out if the insured person dies or is diagnosed with a terminal disease before the expiration of the term of insurance.
  • Life cover plan. This plan includes all the features of the other three plans plus the ability to add further options at an additional cost. The proper use of the available options allows you to find the right level of cover that best suits your particular family situation.

Uses of the AIA Priority Protection Life Cover Plan

The AIA Life Cover plan is basically a term life insurance policy with additional benefits, the benefits of which can be used for the following purposes:

  • In the event of a pay out following your death. Your nominated beneficiaries will be able to settle any outstanding debts you may have left behind, such as personal loans, car loans, mortgage, estate duty and funeral costs etc.
  • The lump sum benefit can be used for investment purposes. If used in this way the interest earned can replace your income contributions while you were alive. This will enable your family to live on in the style they had become used to while you were there to provide for them.
  • Reduce the need for your business to raise additional capital. If you were in business and your death was to be financially upsetting to the ongoing viability of the business, the proceeds of your death benefit could give the business the necessary capital in order to survive.

Obtain a preliminary quote for life cover from AIA

William Eve

Will is a personal finance writer for finder.com.au specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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