Risk Product Update

AIA launches incentives program for clients

To work on clients’ overall health, AIA Australia has launched an incentive program, Healthier Life Reward, for new customers who fit certain criteria. The criteria to enter the rewards program is to be a non-smoker with a body mass index (BMI) between 18-26 and have no medical loading. These clients must also be part of AIA Vitality to be eligible.

Eligible clients will receive a 2.5 per cent discount on lump sum premiums for their entire policy and a discount of up to 17 per cent on certain bundled products.

The Healthier Life Rewards program is part of AIA’s Priority Protection suite.

Updates to the suite include amendments to past and future medical definition pass-back upgrades, so clients with progressive conditions can claim if their condition meets updated definitions. Some medical definitions have been changed relating to the Life Cover Plan, Superannuation Life Cover Plan and Crisis Recovery Stand Alone Plans.

Additionally, several policy terms have been updated for transparency and client awareness relating to benefit indexation, premium structure, AIA Vitality fees, conversion options and the cooling-off period.