Life Cover

Protect your family with a lump sum if you pass away or are diagnosed with a terminal illness.

The safety net your family deserves if you’re not there

If the unexpected happens, will your family be able to manage without your income?
 
AIA Australia's Life Cover provides a lump sum payment to help your loved ones pay for essential expenses, so they can focus on healing, not finances.
Check iconCover mortgage or rent repayments
Check iconPay for everyday living costs and bills
Check iconSupport childcare, school fees, and future needs
Check iconProvide peace of mind during a difficult time
Take the simple step to safeguard everything you’ve built.

Built in benefits included in Life Cover

Death benefit

Pays a lump sum (your Sum Insured) to your beneficiaries if you pass away.

Terminal Illness

Receive your full benefit early if diagnosed with a terminal illness.

Final Expenses

Access up to 10% of your cover (max $25,000) to help with immediate costs while your claim is assessed.

Complimentary Family Protection

$20,000 per child, aged two to 17, if your child passes away or is diagnosed with one of the listed Complimentary Family Protection Crisis Events.

Complimentary Interim Accidental Death Cover

Provides temporary cover while your application is being processed.

Guaranteed Future Insurability

Increase your cover for major personal or business events, eg: marriage, new child, mortgage without further medical checks (before age 55).

Counselling Benefit

Access up to $1,200 in grief counselling ($200 per session).

Benefit Indexation

We automatically increase your insurance benefit so it keeps up with inflation and the cost of living. You can choose to opt out of the increase before your next policy anniversary.

Financial Planning Reimbursement

Up to $5,000 to reimburse financial planning advice to assist you with investing your claim payment.

Access AIA Vitality

Attach an AIA Vitality membership to your cover and get rewarded with lower premiums, discounts and cashbacks.

How can I buy AIA life insurance?

Choose the option that best suits you

Get a quote and apply online

Explore your options, tailor your cover.

Speak to our General Advice team

They can provide a quote, answer any questions and help you with the application at no cost, 9am – 5pm, Mon to Fri, AEST. 

Speak to an AIA Financial Wellbeing planner

They can give you personalised advice tailored to your needs for a fee. Call 1800 434 044, 9am – 5pm, Mon to Fri, AEST.

Speak to a financial adviser

We can connect you to a financial adviser in your area.

Have other protection needs?

Life cover FAQs

Deciding on the right level of life insurance cover depends on your individual circumstances. When working out how much cover you need, you should consider your stage of life, whether you have dependants, your debt levels and the ongoing needs of your loved ones.

If you’re a member of an Australian superannuation fund you might already have some life cover, though typically the default option may only provide a fraction of the cover you need. To work out if you need extra cover, check the insurance you have through your superannuation fund or employer.

No, if you are only applying online. However, you will be asked some health and lifestyle questions. If the information you provide us means you need to go through full underwriting, then yes, you may need to complete and provide us with a medical check-up and/or blood test.

Key events that happen during your life may encourage you to start protecting yourself and your loved ones. Most Australian’s start thinking about life insurance when they get married, have children or take out a mortgage.

Your premium is determined by the product you choose and the type and level of cover, age, gender, smoking status, any discounts you may receive and whether you have chosen to apply Benefit Indexation to your policy. You may also be required to take out a level of cover sufficient to meet the minimum premium. The premium amount includes government charges such as stamp duty and taxes.

If you purchase your policy online, you can pay by credit card or direct debit with a choice of monthly or annual payments.
 
For other payment options, including structuring your insurance through superannuation, please speak to an AIA Financial Wellbeing Planner or a Financial Adviser. 

Where more than one type of discount applies, the discount percentages are applied one at a time. This means that each discount after the first will be applied to the premium already reduced by the previous discount.

You can decrease your cover (subject to the minimum Sum Insured or premium requirements) at any time. You can also apply to increase your cover (up to the maximum amount allowed for your age) at any time. To increase your cover you will need to complete new health and lifestyle questions. Contact us to make policy changes. 

You can nominate up to five persons to receive your Life Cover benefit and specify the percentage of the benefit they each receive. Find out more.

Add AIA Vitality to your AIA Priority Protection policy for only $12.50 per month. Your membership payments will align with your policy payment frequency.

The minimum premium required to access AIA Vitality is $540 per year per customer, inclusive of all discounts, loadings, policy fees and stamp duty. The $540 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. 

The different types of insurance cover are designed to complement each other, not replace one another:
  • Life Cover protects your family if you die.
  • TPD protects you if you can’t work again due to an injury or sickness.
  • Crisis Recovery helps you manage immediate medical or lifestyle costs during a major health crisis.
  • Income protection replaces up to 70% of your income so you can keep paying bills if injury or sickness stops you from working.

If you choose to include Benefit Indexation, we will automatically increase your cover (Sum Insured and/or Insured Monthly Benefit) at your Policy Anniversary by the higher of the Consumer Price Index Increase and 5% for Life Cover and/or the Consumer Price Index Increase for Income Protection, every year. Your premium will also increase to account for the higher cover (Sum Insured or Insured Monthly Benefit) and your age at your Policy Anniversary.

Should you change your mind, you have a 30 day cooling off period, where you can cancel your Policy and receive a full refund of all money paid. To cancel your Policy within the cooling off period, please contact us on 1800 290 989, 9am - 5pm, Mon to Fri, (AEST).