AIA superannuation income protection insurance

Discover the benefits of AIA income protection through super.

While there are some people who love their jobs more than others, the main reason why anyone works is because they need to earn an income in order to fund day to day living. Of course, most people earn enough to be able to fund little luxuries in life as well, such as holidays or saving for a car or home. However, the main priority for the majority of people is to ensure they have enough money to cover essential costs such as accommodation costs, bills, buying food, clothing, covering debts, and other essential costs.

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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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With this in mind, life can become extremely difficult for those who find themselves unable to work and earn their income through no fault of their own. Most people simply assume that they will be able to continue working and earning a living for as long as they need to, which is generally until retirement age. However, unexpected curve balls such as debilitating illness or injury can result in workers suddenly finding themselves in a situation where they are unable to work and earn an income for a period of time.

AIA Superannuation Income Protection is a type of cover that is designed to provide financial protection in situations such as this. For those who find themselves unable to work or earn a living for a while, keeping on top of essential payments can become impossible. However, with the benefit from AIA Superannuation Income Protection, you can still cover your essential costs while you are recovering and getting back on your feet.

Features and Options of AIA Income Protection through Your Super Fund

The AIA Superannuation Income Protection plan is one that can prove invaluable to those who rely on their income and even more so for those who have loved ones to look after. With this insurance plan, you are able to protect up to 75 percent of your regular income, so although the benefit does not cover your entire salary it does generally cover enough to enable you to keep on top of essential payments. Depending on your financial circumstances and outgoings, you may not even need to cover this level of your salary, which means that you can opt for a lower level of coverage at a lower price.

The benefit that is paid out from your AIA Superannuation Income Protection cover can be used to cover your financial outgoings and day to day costs. You will receive your benefits on a monthly basis with payments continuing for a specified period based on the plan you opt for. The monthly benefit you receive will be agreed with you at the time you take out the plan and will be based on your income levels.

The AIA Superannuation Income Protection comes with a range of additional features and benefits, which include:

  • Free interim cover: You will benefit from free interim income protection and accidental death cover during the time your application is being processed, so you will be covered from the very start.
  • Recurrent problem: If you return to work full time after a disablement benefit has been paid, and you suffer the same or similar problem again within 12 months, the waiting period on this income protection cover is waived.
  • Cover after elective or cosmetic surgery: You will still be eligible to claim benefit from this cover if you suffer total disablement following elective or cosmetic surgery.
  • Death benefit: In the event of your death, the person you name as your beneficiary will receive a payout equal to six times your monthly benefits, with a ceiling limit of $60,000.
  • Terminal illness benefit: In the event you are diagnosed with a terminal illness when claiming, an advance on the death benefit will be paid to you as part of this plan.

Why Consider AIA Income Protection through Superannuation?

There are many reasons why you should consider taking out AIA Superannuation Income Protection, some of which include:

  • Peace of mind: Having this type of cover in place can provide invaluable peace of mind, as you will know that in the event of a debilitating illness or accident you won't have to worry about finances. This means increased peace of mind both for you and for any family members who rely on your income.
  • Improved chance of recovery: If you are laid up due to illness or injury, the last thing you need is for financial worries to hamper your recovery. When you have this cover in place, you can focus on getting better and back on your feet without the added worry of finances.
  • Keeping up with payments: The benefit you receive from your AIA Superannuation Income Protection means that you will be able to keep on top of your essential payments while you are recovering and getting back on your feet. So, you won't have to worry about unpaid bills, mounting charges on unpaid debts, or how to put food on the table.

AIA income protection insurance is a valuable form of cover for your ability to earn and you can opt to keep on top of the premium payments via your super fund balance. Protecting your financial wellbeing and family's is made easy with AIA income protection, without any compromise on the quality of cover.

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