AIA Funeral Insurance Review: What's covered? | finder.com.au

AIA funeral insurance

Benefits of AIA MaxLife Final Expenses.

AIA

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Let's face it, no one wants to think about planning for their funeral. But if you have a family, a bit of planning now could save them time and money during a period when they should be focusing on their grief.

AIA MaxLife Final Expenses will pay a Final Expenses benefit of between $5,000 and $15,000 if you die, to be put towards your funeral costs.

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Benefits of AIA MaxLife Final Expenses benefit

AIA MaxLife Insurance offers a range of benefits all with the aim of helping its customers through the most difficult times. By having an AIA MaxLife policy you have access to a range of benefits including the Final Expenses benefits, that will help your loved ones as they cope during a difficult time. Features of AIA MaxLife include:

  • Financial help at a difficult time: The death of a loved one is hard enough to deal with, without adding financial stress as well. With a funeral plan you can’t remove the emotional pain of loss, but you can make sure that your family doesn’t have any other added stress to worry about at a difficult time.
  • Guaranteed acceptance: If you are an Australian resident or a New Zealand citizen residing in Australia or you hold a 457 business visa, you can apply for AIA MaxLife Final Expenses if you are 18 to 80 years old. You are guaranteed cover as there are no health questions or medical tests.
  • Choose the cover amount: You can choose a funeral benefit payout of $5,000 to $15,000 depending on your budget now, and your family’s financial situation. For example, a higher benefit amount means higher premiums now, but means fewer out of pocket expenses at the time of the claim.
  • Accidental death cover: For the first 12 months of holding your funeral insurance policy with AIA you are covered for death as the result of an accident only. If you pass away as the result of an accident in the first 12 months of your policy, your family will receive the full benefit amount.
  • Refund of premiums on a claim in the first 12 months: If you die in the first 12 months of holding your policy and your death is not the result of an accident or a self inflicted injury, your family will be refunded all premiums paid in that time.
  • Complete coverage with AIA: After the first 12 months of your policy, your family can make a claim on your funeral insurance policy.
  • World wide protection: No matter where you travel in the world, and at any time of the day or night, your family can make a claim of your funeral insurance if you die anywhere in the world, 24 hours a day, seven days a week.
  • Joint cover discount: If you have two or more policies for you and your partner, you can be eligible for a 10% discount on the premiums of each policy.
  • Your choice of payment options: AIA allows you to pay your premiums fortnightly, monthly or yearly, depending on your household budget.
  • A 30 day cooling off period: AIA gives you 30 days to consider your family’s situation and the features of the policy, and whether the policy is suited to you.

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