Critical Conditions

Critical Conditions Benefit

Receive a benefit payment if you suffer for the first time any one of more than 50 medical conditions, to the extent specified in the policy.

A partial benefit applies to certain conditions, for example, where you suffer a specified medical condition to a less serious extent than that which would normally trigger a full benefit payment.

Includes cover if you suffer a major medical condition that isn’t specifically listed in the policy wording but meets AIA’s definition of a severe illness or injury. See the Policy Wording for details.

Financial and Legal Advice Benefit

After you receive a full claim payment, get reimbursed for up to $2,500 (including GST) for financial planning fees paid to an accredited adviser or for legal advice from a legal professional approved by AIA.

Children’s Trauma Benefit

If a child of yours (aged between 2 years and 21 years) suffers an applicable condition, this benefit will pay 50% of the sum assured (up to $50,000). This benefit provides trauma cover for your children at no additional cost.

Payment of this benefit will not reduce the amount of the Critical Conditions Benefit.

Newborn Children’s Benefit

If your biological child is born with one of five defined congenital conditions and survives for 30 days after birth, receive a benefit of 50% of the sum assured (up to $50,000).

Payment of this benefit will not reduce the amount of the Critical Conditions Benefit.

Children’s Trauma Conversion Facility

The Children’s Trauma Benefit can be converted to a standalone Critical Conditions Benefit, or an accelerated Critical Conditions Benefit with an equal amount of Life Cover, of up to 50% of the original sum assured (up to a maximum of $50,000), without further medical evidence.

Premium Conversion Facility

At any time before age 65, you can convert all or part of your Critical Conditions Benefit from a Rate for Age premium structure to a Level premium structure without needing to produce further medical evidence.

Special Events Increase Facility

You can increase the amount of cover under your policy following certain life events, without any medical questions, examinations or tests. A premium will be applied to the additional cover.

Future Insurability Benefit

You can increase the amount of cover under your policy at every third policy anniversary date by up to 20% of the original cover (up to a maximum of $200,000), without any medical evidence. An increase in premium applies.

Return Home Benefit

If you are outside New Zealand and suffer from, for the first time, a covered condition, AIA will reimburse the cost of a standard economy flight back to New Zealand for you and one support person, up to a total cost of $10,000.

Parents Grieving Benefit

AIA will pay a Parents Grieving Benefit if a child of yours dies before age 21. A benefit will even be paid if a child of yours dies prior to birth but after at least 24 weeks gestation and you are the biological mother of the child. If the child is under age 10, the amount payable is $2,000 (the maximum under law), otherwise the amount payable is $15,000.

Counselling Benefit

Get reimbursed for up to $2,500 (including GST) for the cost of a psychiatrist or psychologist consultation and/or counselling where the support treatments and/or consultations directly relate to a claim under the Critical Conditions Benefit.

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 for any condition that occurs during the period that cover is suspended.