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New minimum premium for Priority Protection policies with AIA Vitality

23 March 2020

From 1 April 2020, a new minimum premium applies when AIA Vitality is added to a Priority Protection or a Priority Protection for Platform Investors policy. This applies when AIA Vitality is being added to an in force policy or a new business policy and will continue to apply thereafter for Vitality membership to remain in force.

The new minimum premium is $600 per year per customer, inclusive of all discounts, loadings, policy fees and stamp duty. The $600 minimum does not include the cost of the AIA Vitality Contribution Fee. AIA will consider the combined premium for all policies for the same life insured – both in force and new business - when assessing if the minimum premium has been met.

Please note, the minimum premium for all individual policies remains at $300 inclusive of all discounts, loadings, policy fees and stamp duty.

Why include AIA Vitality?

You’ve probably heard it before, AIA Vitality is our science-backed wellness program that helps clients improve their health, and rewards them for it.

Your clients can earn up to $500 in retail shopping vouchers each membership year. The vouchers can be used across a range of our Shopping Rewards partners including Woolworths, Myer and rebel. Members can also earn $5 a week in Active Benefits rewards.

Not only that, upon reaching certain levels (Bronze, Silver, Gold, Platinum), your clients can gain even more discounts across the likes of Virgin and Singapore Airlines or Fitbit and Garmin products not to mention discounts off their Priority Protection policies.

For more information, please speak to your AIA CDM or CDA.