AIA Priority Protection Total & Permanent Disability

AIA offers a choice of 'any occupation' or 'own occupation' TPD cover under its Priority Protection insurance range.

Any occupation cover means that you will be able to make a claim if you are "unlikely to ever" be able to work again in any job for which you are reasonably suited (because of your education, qualifications or experience). Own occupation polices are more expensive, but allow you to claim if accident or illness leaves you unable to work in your current occupation.

You may still be able to make a claim under your AIA TPD policy if you are able to return to work but your disability means that you are only able to earn up to 25% of your previous income.

You can buy AIA's Priority Protection TPD cover as part of your Life Cover policy or as standalone insurance. If you choose a combined Life Cover and TPD policy you can purchase additional 'buy back' or 'double TPD' options, which enable you to keep your life insurance in place even if you have to make a TPD claim.

Product Features

These are among the benefits offered by AIA's Priority Protection TPD cover:

• A built-in 'partial and permanent disability' benefit which you can claim if you permanently lose the use of one arm or leg or the sight in one eye. The payment will be capped at either 25% of the amount of your insurance or $750,000. If you make a successful PPD claim then the remaining amount of your insurance will be reduced by the amount you've already received.
• The option to freeze your premiums rather than pay an annual increase. This is only available if you pay stepped premiums and are over 35. It will mean that the amount of your insurance decreases.
• 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.
• Help with the cost of taking financial advice if you receive an insurance payment. AIA may reimburse the cost of talking to a registered financial advisor about how to invest or manage the money.
• The option to increase the amount of your insurance without having to provide additional medical information, should your financial circumstances change before you reach 55.

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