New minimum premium for Priority Protection policies with AIA Vitality

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.