Crisis Recovery
Significant events such as accidents, heart attacks, strokes or cancer can happen to anyone. Many Australian families struggle, both emotionally and financially, when someone in their family is diagnosed with a life threatening or debilitating health condition. When you are experiencing some of the emotional effects of being diagnosed with a serious illness or injury, the last thing you want to worry about is paying the bills.
Crisis cover helps ease the financial burden should you be unfortunate enough to suffer a traumatic event.
Assess Your Insurance Needs
Use this calculator to work out how much cover you may need.
Find an adviser near you
If you would like to talk about your life insurance needs, we can put you in touch with an adviser in your area
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Email link:
au.adviserservices@aia.com
Crisis Recovery
Why it’s worth considering
You might think ‘it’ll never happen to me’, but consider these facts.
Cancer
- 1 in 2 men, and 1 in 3 women, will be diagnosed with cancer before the age of 851
- Almost 3,000 men die each year of prostate cancer and around 18,700 new cases are diagnosed every year.2
- More than 2,640 women die from breast cancer each year – that’s over 7 women each day.3
- Over 380,000 Australians are treated for skin cancer each year.4
Cardiovascular disease (CVD) - heart, stroke and blood vessel diseases5
- CVD kills 1 Australian every 10 minutes and prevents
- 1.4 million people are prevented from from living a full life because of it.
AIA Australia’s Crisis Recovery will pay a lump sum if you are diagnosed with one or more of the serious illnesses listed within the Crisis Event groups of
- Cancer,
- Coronary, and
- Other Serious Crisis Events.
(Please refer to the Crisis Events table in the PDS)
It can be purchased as a stand alone policy or additional benefit under your Life Cover policy.
1www.cancer.org.au
2www.prostate.org.au
3www.nbcf.org.au
4www.sunsmart.com.au
5www.heartfoundation.org.au
- Crisis Recovery Buy-back
- Crisis Reinstatement
- Complimentary Interim Accidental Crisis Recovery cover
- Choice of payment options
- Double Crisis Recovery
- Download
Product Disclosure Statement
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Making the most of your Priority Protection Crisis Cover
Premium Freeze
Allows you to select to pay the same premium as you paid the previous year by reducing your Sum Insured before the Policy Anniversary date.
Benefit Indexation
The Sum Insured on your policy will automatically increase each year by the Consumer Price Index (CPI) or 5%, whichever is higher.
Guaranteed Future Insurability
Apply for increases in your sum insured without supplying further evidence of health.
Complimentary Interim Accidental Crisis Recovery Cover
While your application is being assessed, we will provide Complimentary Interim Accidental Crisis Recovery Cover.
Financial Planning Reimbursement
After a claim is paid for death or terminal illness we will reimburse you or your nominated beneficiary/ies the cost of obtaining financial advice to assist with managing or investing your claim payment.
Complimentary Family Protection
Under the Crisis Recovery or Crisis Recovery Stand Alone, AIA Australia will pay a lump sum benefit up to $20,000 for each of your dependant children aged between 2 and 17 if they are diagnosed with one or more of the listed crisis events.
Death Cover
(Crisis Recovery Stand Alone only) We will pay your nominated beneficiary/ies up to $5,000 if you die.
Chronic Diagnosis Advancement
An advanced payment of 25% of your sum insured if you are diagnosed with Motor Neurone Disease, Multiple Sclerosis, Muscular Dystrophy or Parkinson’s Disease but have not yet met the definition of that crisis event.
Priority Protection Life Cover Overview
| Crisis Recovery | Crisis Recovery Buy-back | Crisis Reinstatement | |
|---|---|---|---|
| Entry age (next birthday) | 16 and 64 | 16 and 60 | 16 and 60 |
| Expiry age (policy anniversary prior to age) | 70 | 65 | 65 |
| Premium options | Level, Stepped and Optimum | Level, Stepped and Optimum | Level, Stepped and Optimum |
Doug’s Story
Doug has been working as an accountant for the past eight years in Brisbane where he lives with his wife and three kids. Unfortunately for Doug and his family, he was recently diagnosed with bowel cancer.
Doug had to undergo extensive chemotherapy, and so was unable to work for six months. As well as dealing with the emotional stress of being diagnosed with cancer, Doug also had to consider how he would pay for thier mortgage, the kid’s school fees and other bills without his income.
Fortunately, their financial adviser had recommended that both Doug and his wife take out Crisis Recovery cover in addition to their Life cover. When Doug received the news from his doctor, he called his adviser immediately who submitted a claim to AIA Australia. After his claim was assessed, Doug received a lump sum payment of $250,000. This enabled Doug to ensure his family’s expenses were taken care of, allowing him to focus all his energies on getting better instead of worrying about financial concerns.
* This is an example only to illustrate the potential benefit of taking out crisis recovery, and should not be relied upon as indicative of benefits payable under the crisis recovery benefit.