Income Protection Insurance

Income Protection Benefit

Receive a monthly benefit if you are totally disabled and unable to work in your own occupation due to illness or injury.

Receive a partial benefit if you are unable to work for more than 75% of your average weekly pre-disability hours or earn less than 75% of your pre-disability income. Any partial disability benefit that you receive will be enhanced by up to 25%, payable for up to 12 months, if you have previously received a total disability benefit under the policy.

Recurrent Disablement Benefit

Your waiting period will be waived if you become disabled again from the same or a related cause within 12 months of your disability benefit payments ceasing.

Rehabilitation and Support

One of AIA’s dedicated case managers will work with you to understand your personal situation and will consider what assistance could aid your return to work or improve your capacity to work.

Vocational Assistance

AIA may agree to pay for vocational assistance of up to 12 times your monthly total disability benefit if you’re unlikely to return to your pre-disability occupation.

Home Modification or Equipment Expenses Benefit

AIA may agree to pay you an additional lump sum payment of up to 12 times the monthly benefit amount to cover the costs of buying specialised equipment or completing home alterations that have become necessary due to your total disability.

Bed Confinement Benefit

If, at any time during the waiting period, you are confined to bed under full-time care for more than three days, then AIA will pay a Bed Confinement Benefit for each complete 24-hour period after the first 72 hours of bed confinement.

Home Care Benefit

Provides an additional benefit payment for the services of a carer for up to 6 months if you are totally disabled. This benefit is paid in arrears to the person providing the care.

Back to Work Payment

If your benefit payment period is greater than two years, AIA will pay you a Back to Work Payment of up to 3 times your monthly benefit amount if you return to work between 12 and 24 months after claiming receiving a total or partial disability benefit.

Pregnancy Premium Waiver

If you become pregnant and are on maternity leave, AIA will waive the premium for the Income Protection Benefit for six consecutive months at any stage between the second trimester and six months after your pregnancy ends.

This benefit is only available if you become pregnant at least 9 months after the commencement date of the policy.

Return Home Benefit

If you suffer total disability while outside New Zealand, AIA will pay for a single standard economy flight back to New Zealand for you and a support person (Maximum amounts apply).

Childcare Support Benefit

AIA will pay a Childcare Support Benefit if you are receiving Income Protection Benefit payments and, as a direct result of your disability, additional childcare costs are incurred for any child under the age of 14 that are over and above any childcare arrangements which existed prior to you becoming disabled.

Future Insurability Benefit

Increase your Income Protection Benefit by up to 10% (subject to a maximum increase of $12,000) every three years without the need to provide further medical evidence.

Suspension of Cover Benefit

Flexibility to suspend your cover for up to 12 months if you:

• Go on parental leave;
• Go on leave without pay for any reason;
• Become unemployed or redundant;
• Experience a reduction in pay of 20% or more (comparing the most recent payslip against a previous payslip from the same year); or
• Are self-employed and experience a reduction in revenue of 30% or more (by comparing one month’s revenue against the same month for the previous year).

No premium will be payable during the period that cover is suspended. No claim will be payable during, or for any disability that occurs during, the period that cover is suspended.