AIA
AIA is among Australia's leading life insurers, with rock-solid financial backing and a long-established history. An independent specialist, with over 40 years' local experience, AIA is Australia's fastest-growing life insurer with more than 2.5 million customers (about 20% of the country's working population).
AIA was formally known as AIG (American Insurance Group) until 2008 when its Australian operations were re-named AIA post GFC. AIA's Australian operations are quite separate from its American arm.
AIA works in close partnership some of Australia's biggest companies and superfunds and holds the largest share of Australia's group life insurance market. It has an A+ Standard and Poors rating and an excellent investment performance record, so you can rely on its financial strength and ability to pay claims.
AIA Australia is backed by the AIA group, which is the largest publicly-listed life insurance provider in the Asia-Pacific region and has been in operation for over 90 years.
AIA is one of Australia's most well recognised retail financial services brands. It has over 24 million policies in place and employs more than 20,000 people, a workforce which extends to over 230,000 people through valued partnerships with financial advisors and agencies.
The company places great importance on social responsibility and is fully committed to ethical behaviour which supports and improves the communities in which it operates throughout Australia.
AIA prides itself on its reputation for fairness and prompt, reliable payment of claims. The company has won a number of awards including Life Insurance Company of the Year from The Australian and New Zealand Institute of Insurance and Finance.
AIA's Priority Protection life insurance range includes Life Cover, Income Protection, Total and Permanent Disability and Crisis Recovery (trauma) policies.
Case Studies and Testimonials
When diagnosed with cancer, Caroline Denning was fortunate she had Income Protection cover which helped her to manage her financial commitments and the day-to-day living expenses involved in raising her three daughters.
This is Caroline's story:
"When I was diagnosed with cancer, my family was thrown in to financial turmoil, and I had to rely on friends dropping in groceries so that I could feed my family.
"AIA has been the ‘Rock of Gibraltar' in my life and I feel extremely blessed to have had the support of such dedicated staff who treat you with integrity, even after going though the investigation required when making a claim. AIA will assess your individual needs in a fair and unbiased manner and they have never at any time denied any liability. They have always been forthcoming in helping me get back on my feet. "I feel very strongly about stating my case after reading all the negativity against insurance companies in the media…If you are honest you should not have any concerns .I ask that you check your own family insurance as the devastation to your children caused by cancer is enough in itself, without having to undergo a financial crisis as well.
"It's easy for people to become complacent and think that they are young and don't need insurance. No matter how dire my own financial circumstances, I have always kept insurance as a high priority. When faced with illness your family is already under huge stress without the added burden of financial pressures.
"Once again, thanks to the team at AIA for your support."
Jeff took out his Crisis Recovery policy with AIA Australia in 2011. About a year later he made a claim for cancer of the tongue.
This is Jeff's story:
"My dad died at an early age from a stroke so that was a wake-up call for me to ensure I was covered in case I got sick or injured. Coming out to Australia from the UK, I was very sceptical about life insurance companies and whether they'd ever pay out but I still knew I needed the cover because I have a wife and three kids who rely on me financially.
"In August 2011, I took out a Crisis Recovery policy with AIA Australia and nearly exactly a year later in August 2012, I made a claim.
"We were on holiday down at Margaret River in WA when my wife noticed a lump on my neck. I was a bit shocked. We went straight to the GP and consequently had a CT scan, blood tests and a biopsy and sadly it turned out I had cancer. Hearing the news shocked me and I actually cried – it was the lowest point in my life. I contacted my adviser, Sarah, straight away who sorted out my claim. I had my fingers crossed my cancer was covered and I'd get a pay out, and AIA Australia quickly restored my faith in insurance companies because my claim was accepted and I received a lump sum payment of $210,000.
"I'm currently in the process of having treatment but I'm adamant that I will get back to work. The money from AIA Australia has given me peace of mind that if I can't get back to work straight away, we'll get by and my family will be ok."
