AIA Priority Protection Superannuation Life Cover & Superannuation Income Protection

AIA's Priority Protection Superannuation Life Cover offers life insurance through your super fund, allowing you take advantage of tax-efficient structuring. The policy can be held by your SMSF or through an AIA superfund.

You can purchase just Superannuation Life Cover or a Superannuation PLUS package which packages your Life Cover benefits with Crisis Recovery and TPD cover. The policy structure lets you profit from lower premiums while leaving your trauma cover outside of your superfund, so you can more easily access your benefits should you need to make a claim. It also gives you the choice of holding your TPD insurance element inside or outside depending on your needs.

You can also buy your Income Protection policy through your SMSF or AIA superfund, which could lower the cost of protecting your lifestyle.

It is important to seek advice from your financial advisor if you are considering buying life insurance through your SMSF, as the wrong structure may restrict your ability to access any money received if you need to make claim.

Product Features

Your AIA Superannuation Life Cover and Superannuation Income Protection cover offer all the normal benefits of these policies, in addition to the tax and cash flow advantages of holding your life insurance through your superfund. Built-in features include:

• Complimentary accidental death (or interim income protection) cover while your application is being assessed.
• Automatic annual increases of the amount of your insurance in line with the Consumer Price Index, or 5%, whichever is higher. Your premiums will also increase.
• Advance payment of death benefits if you are diagnosed with a terminal illness.

For full details of AIA's Superannuation life insurance products you can download the Product Disclosure Statement here.