APIA Accidental Injury Insurance

Why is the Apia Accidental Injury Insurance policy a smart choice?

Apia Accidental Injury Insurance provides Standard and Plus Packages, with benefits of up to $100,000. It covers various accidental injuries like loss of limb, fractures, dislocations and burns. Apia Accidental Injury Insurance is quick and easy to apply for, with a short processing time and an online application form (with no medical checks) that can be completed in minutes.

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Apia Accidental Injury Insurance provides you with cover 24/7, even if you're overseas. There is an added advantage of automatic indexation, which ensures that the injury benefit keeps up with inflation.

What does the Apia Accidental Injury Insurance cover?

There are a host of features provided by Apia. They include:

  • Injury benefit. Lump sum compensation is provided in case of a specific injury. This can be as high as $100,000 for loss of limbs or sight if you are on the Plus Package or $50,000 for a Standard Package cover. Other injuries like fractures, dislocations and burns are also covered and different compensation is paid for each.
  • Automatic indexation benefit. This is a huge plus for the customers. If a person takes a policy cover at 40 years but makes a claim only at 65 years, there will be significant reduction in purchasing power of dollar in those 25 years. This will reduce the overall benefit received from the compensation. However because of Automatic indexation the compensation will automatically increase in line with inflation thus restoring the value of the benefit.
  • Accidental death benefit. If the policyholder dies within 365 days of an accident the nominated beneficiary or the estate is given a lump sum payment. This is $15,000 for standard package and $30,000 for plus package.
  • Cash back benefit. If the policy is continuously held for three years and no claims are made, the policyholder will receive 10% of the previous three years premiums as cash back benefit. This benefit is available every three years. Hence if a policy is held continuously for ten years there will be cash back at end of third, sixth and ninth year.

Who can apply for Apia Accidental Injury Insurance?

The following requirements should be met to apply for Apia Accidental Injury Insurance:

  • Age. The age of the applicant should be between 18 and 75 (inclusive)
  • Citizen. The applicant must be an Australian citizen or should be a permanent resident of Australia. This cover continues till you are 90 years of age. The cover is also stopped when:
  • Cancellation of policy is requested by the person
  • Non-payment of outstanding premiums
  • Payment of specified benefit for suffering loss of limbs or sight
  • The policyholder dies

How do I apply?

Apia Injury Support Plan can be applied by following ways:

  • Visit the site and complete the online application
  • Complete the application form and return to a branch for processing
  • Contact Apia by phone between 8am and 6pm (AEST) and talk to a customer service manager.

What are the risks associated with this policy?

There are a couple of risks associated with this policy. They are the same for any insurance products and need to be carefully thought over before taking a policy. The risks are:

  • Policy may not suit the needs. The requirement for different people varies considerably. This is due to difference in workplace, lifestyle, spending pattern, etc. When taking a general policy it is important to see if it suits the person.
  • Level of cover may be insufficient. This is a major risk within insurance products. Although many people carefully choose the insurance they purchase, it is also important to look at one’s lifestyle to make sure that the cover is sufficient. A higher premium product might be necessary for a person to ensure the cover meets their expectation of the lifestyle in future.
  • Claim not paid if exclusion applies. Exclusion for this accidental injury policy include:
    • Any injuries which are self-inflicted
    • Occupations requiring work at heights above 15 meters or underground in mining industry or working with explosives and firearms are also excluded
    • Engaging in hobbies like mountaineering, rock climbing, canyoning
    • Driving under influence of alcohol or drugs

How to make a claim for Apia Accidental Injury Insurance?

If you are entitled to make a claim, Apia needs to be contacted as soon as possible by you, the nominated beneficiary or a legal personal representative. A claims pack is then disbursed with all the information which is required to assess the claim quickly.

The real benefit of an insurer is felt during the claims process. Apia tries to make the process quick and smooth for the policyholders. One can directly call them at where staff are available 24/7.

Apia Accidental Injury Insurance cover helps in reducing the financial stress which a person undergoes during accidents. By taking adequate cover a policyholder can make sure there is no extra burden on other family members and the convalescing process is less stressful.

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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