AIA Australia is a global life insurance company that has successfully combined its international presence with the servicing of local conditions and as a result has been able to offer some of the most comprehensive and flexible life covers available in Australia. Its Australian life insurance products, along with its ongoing service commitments, are constantly under review, thereby making sure that the changing needs of the population are always fully met.

Compare Types of Life Insurance From AIA

• Life Cover Plan: Life Cover benefit pays out a lump sum payment if the individuals death is due to either illness, injury or terminal illness. The sum will be paid to the policy owners beneficiaries to help settle debt, outstanding loands, estate duty and other finances in the event of a death.
• Crisis Recovery Plan: Crisis Recovery benefit will pay out a lump sum if the policy holder is diagnosed with one or more of the illnesses categorised under Cancer, Coronary and other major illnesses. The use of the Crisis Recover Plan can help reduce the financial stress that is the consequence of immediate and unpredicatable events.
• Income Protection Plan: Income Protection Benefit (including the PLUS Optional benefit) will provide you with monthly income if you are unable to work due to serious injury or sickness. The benefit will only be paid if your disability is the result of an accideral injury. If you are the owner of a business it also ensures the business will continue to run despite your illness or disability.
• Business Expenses Plan: Designed specifically for self employed workers, this type of protection ensures fixed business expenses including rent and utility bills, are still paid for if the worker is suffering from serious illness or injury.
• Superannuation Life Cover Plan: AIA’S Superannuation Life Cover Plan will give you the peace of mind of preparing for lifes uncertainties by paying a lump sum to your nominated beneficiaries in the event of terminal illness or other crisis events.

Company History

AIA Australia Limited, as it is now known, previously traded as AIG Life. AIG Life had been providing life cover in Australia for more than 30 years and it will now be continuing this involvement with the Australian people as AIA Australia which is a subsidiary of the American International Assurance Company Limited, a global specialist provider of risk management products designed to protect the financial interests as well as the welfare of the Australian people.

AIA Group Limited, along with its subsidiaries, of which AIA Australia is one, is collectively known as the ‘AIA Group’ or more simply ‘the Group’. The Group is made up of the largest independent publicly listed pan-Asian life insurance group on the planet. It is spread over 15 markets in the Asia-Pacific area where it is able to track its beginnings back over 90 years, in that time having built up assets totalling US$107.9 billion. The AIA Group has one of the more extensive network of any life insurer in the region, its highly diversified presence reduces country and market risks and as a result policy holders receive greater financial stability of the developed markets as well as the benefits deriving from the growth potential of the emerging markets.

Company Culture

The AIA Group’s strong culture is the backbone of the company, a culture AIA Australia prides itself as being a part of, as well as through their solid partnerships with individual policy holders by providing them with the highest level of service. AIA Australia realises that every client is different. This individuality means it needs to offer a flexible approach in its delivery of life insurance and income protection insurance. This flexibility is borne out in its ability to be able combine different types of life insurance cover packaged in a single policy document. This is known as tailoring specific solutions to each individual’s needs.

When you take out your life insurance and income protections needs with AIA Australia you will immediately become a part of the wider AIA Group, an insurance group that serves the needs of more than 23 million individual policy holders (two million of which are in Australia) and 10 million members included in group policies. All this involvement is held together with an army of 260,000 agents and more than 21,000 direct employees scattered across the Asia-pacific in areas as diverse as Australia, New Zealand, China, Hong Kong, Taiwan, Vietnam, Korea, India, Indonesia, Thailand, Singapore, Malaysia, the Philippines, Macau and Brunei.

The AIA Group is understandably a market leader in the Asia-pacific based on life insurance premiums collected. In fact it holds the number one position in six of these markets. Because of its historical presence in the region, the Group has been able to build a strong network of mainly wholly owned businesses operating in each country as it does in Australia with AIA Australia Limited. The only country where this has not been possible has been in India where Indian government legislation restricts foreign ownership of insurance companies to 26 percent. AIA therefore operates in India as a joint venture.

Benefits of Choosing AIA Life Insurance

AIA Australia’s strength lies in the strength of its AIA Group membership, second to none operational efficiency and its consistent profitability. It has a proud profitability record in Australia as it does in the other world markets wherever the Group operates, where it is either the number one life insurance company, or the foremost foreign insurer. Areas in which the AIA brand has become a trusted household name, having been relied on by generations of families and businesses to fully protect them in their time of need. It has successfully become an essential part of the fabric of the communities in which it operates, an important part of the everyday lives of its myriad of policy holders. It is well on its way in realising its vision of being the pre-eminent life insurer is all the regions in which it operates.

AIA Australia has recently introduced a new support service for its Priority Protection policy holders and their families called ‘WeCare’ . WeCare will be made available whenever there is a need, it is not restricted to those making a claim. It is a phone and email based service offering emotional support and assistance which includes practical help in time of need. It can include such things as legal and taxation advice, counselling and grief support, home assistance and funeral assistance.

AIA Australia is a part of the wider AIA Group, a large global life insurance company that remains tied to its grass-roots support base, a policy that has seen it grow dramatically over the last 90 years in the Asia – Pacific region in particular.