AIA Total and Permanent Disability Insurance

What can TPD Cover from AIA Australia cover?

Many of us know how difficult it is to carry out our normal day to day tasks with a broken arm, or a sprained ankle, or even just how debilitating it can be to be struck down by the flu for a few days. Well imagine how you would continue to work, provide for your family, look after the home and maintain your lifestyle if you were suddenly affected by a total and permanent disability.

Just as you can’t plan for when you’re going to be sick in bed with a cold, you never know when you will suffer an illness or injury which leaves you permanently disabled. That is why, as difficult as it is to think about not being able to live your life the way you always have, it is important to put plans and protections in place in case the worst does happen. This is why AIA offers a Priority Protection Total and Permanent Disablement Plan, which pays a benefit if you are no longer able to work because of a total and permanent disability, and allows you to use the money for medical bills, household bills or modifications to your home.

Keep reading to find out what is covered under the TPD policies from AIA or submit your details in the form below to receive a quote from a certified insurance adviser.

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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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Compare Quotes
Total and Permanent DisablementAccidental Total and Permanent Disablement
Premium Structure
Level Premiums
  • yes
  • yes
Stepped Premiums
  • yes
Optimum Premiums
  • yes
Available as:
Total and Permanent Disablement Stand Alone
  • yes
Accidental Total and Permanent Disablement Stand Alone
  • yes
Rider Benefit (to Life Cover benefit and Crisis Recovery Stand Alone)
  • yes
  • yes
Linked ‘Maximiser’ benefit to Total and Permanent Disablement Stand Alone or TPD rider benefit with ‘Any Occupation’ definition under the Superannuation Life Cover Plan.
  • yes
Built-in Benefits
Total and Permanent Disablement
  • yes
Accidental Permanent Disablement
  • yes
Partial and Permanent Disablement
  • yes
Partial and Permanent Disablement – Accidental Total and Permanent Disablement
  • yes
Premium Freeze
  • yes
Benefit Indexation
  • yes
  • yes
Financial Planning Reimbursement
  • yes
  • yes
Day 1 TPD (removal of TPD qualifying period)
  • yes
Conversion to Loss of Independence
  • yes
Conversion to Accidental Loss of Independence
  • yes
Benefits at an additional cost (Rider Benefits)
Total and Permanent Disablement Buy-back
  • yes

(rider only)

School Fees Protector
  • yes

 

Family Protection
  • yes

(Stand Alone Only)

  •  yes

(Stand Alone Only)

Forward Underwriting
  • yes

(Stand Alone Only)

Business Safeguard Forward Underwriting
  • yes

(Stand Alone Only)

Life Cover Purchase
  • yes

(Stand Alone and as a rider under the Crisis Recovery Stand Alone Plan Only)

Features of the AIA priority protection Total and Permanent Disablement plan

While total and permanent disability insurance can’t take away all of the stress and disruption of suffering a disabling illness or injury, it can help you manage the financial burden. Plus, the AIA Priority Protection Total and Permanent Disablement Plan is an easy to use and inclusive policy, which offers:

  • Replacement income and coverage of expenses: The benefit payment from your AIA total and permanent disability insurance can be used in any way you choose, whether you need to the money to cover the ongoing expenses of running your household, you want to pay off the mortgage to reduce a significant monthly bill and ensure your family’s security, or you need to use the money to make adjustments to your home to accommodate a wheelchair for example.
  • Independent or packaged policy: AIA allows you to take out total and permanent disability cover as part of your Life Cover Plan or as a stand alone policy. This means you can organise and manage your insurance products in one place, with one insurer, or you can tailor your insurance to only the products you need right now.
  • ‘Any Occupation’ and ‘Own Occupation’ coverage: AIA will cover you for both the own and any occupation definition of total and permanent disability. Total and permanent disability coverage for ‘any occupation’ means you receive a benefit payment if you are unlikely to ever be able to return to any occupation because of the illness or injury you have suffered. The ‘own occupation’ coverage definition means you receive a lump sum benefit if you are unable to return to your own occupation, meaning you don’t have to go and work in a supermarket just because your illness or injury prevents you from returning to your specialised profession.
  • Partial and permanent disablement cover: If you are partially permanently disabled you can still receive a benefit payment from your AIA total and permanent disability policy. For example if you lose the use of one arm, one leg or the sight in one eye, you can receive a benefit of up to 25% of your total and permanent disability benefit amount.
  • Freeze your premiums: If you want to keep your budget and bills under control, you can choose to freeze the cost of your premiums at the rate they were the previous year, instead of paying the increased amount each year. Just keep in mind that by stopping your premiums from increasing, you are also reducing your insured amount, as the cost of insurance goes up every year, and if you want it to stay the same, your benefit must decrease to cover the difference.
  • Automatic indexation: On the other hand, you can choose to have your benefit amount increase each year, to keep in line with inflation. This means no matter when you make a claim on your policy, the benefit amount is relevant to the cost of living at the time, as AIA have increased your benefit amount by the Consumer Price Index, or 5%, each year.
  • Guaranteed insurability: Once your total and permanent disability insurance with AIA is approved, you can apply for an increase in your benefit amount without the need for any applications, questions or medical tests.
  • Financial planning benefit: If you have a need to make a claim on your total and permanent disability insurance, it is because you are going through a devastating life event, which can have devastating effects on your finances. Therefore, if you or your family engage the services of a financial planner during this time, AIA will reimburse you the cost of this advice.
  • Choice of level or stepped premiums: You can choose to have your premiums stay the same throughout the life of your total and permanent disability policy, or you can choose to start out with very low premium costs, which increase over time, with the aim that as you get older and your career becomes more established, you are able to afford the higher premium costs you couldn’t when you were starting out.
  • TPD Buyback Option: Allows you to re-purchase your Life Cover benefit amount if it is reduced due to a TPD claim payment.
  • Universal, Accidental and Double TPD. TPD and Double TPD cover of up to $5,000,000, and Universal and Accidental Cover of up to $1,000,000. (Varies with occupation category).
  • Minimum Entry Age as early as 16. And as late as 64. (Varies with occupation category)

Can I get cover under AIA TPD Insurance?

Eligibility for cover under this policy depends on your age and the occupation category you fall under.

 Occupation CategoryEligibility Age Range (years)Policy Expiry Age (years)
  • AAA: White collar workers with tertiary qualifications or equivalent industry experience.
  •  16-64
  • 70
  • AA: Medical professionals with tertiary qualifications.
  •  16-64
  • 70
  • A: White collar workers in a low-risk office environment.
  •  16-64
  • 70
  • B: Non-white collar workers in warehouse or industrial environments.
  • 16-64
  • 65
  • C: Skilled tradespersons in moderate-risk environments.
  • 16-60
  • 65
  • D: Semi-skilled unqualified tradespersons performing heavy manual labour in high-risk environments.
  • 16-55
  • 65
  • E: Unskilled workers performing extra heavy manual labour in high-risk environments.
  • 16-50
  • 55
  • Home Duties: Performing full time unpaid domestic duties in your own residence.
  • 16-64
  • 65

Are there any exclusions to be aware of?

Circumstances in which a benefit will not be paid under this policy include:

  • Any disablement that is directly or indirectly, wholly or partially, caused by intentional selfinflicted injury.
  • Any event that is directly or indirectly caused by intentional self-inflicted injury.

Receive a preliminary tpd insurance quote 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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