Income Protection Insurance

Help protect your clients' biggest asset - their income

Your clients' ability to earn can be their biggest asset. If an illness or injury prevents them from working, they'll want to know their finances and family are taken care of, so they can focus on recovery and getting back to work.

At AIA our Income Protection insurance goes beyond the monthly payments. As well as helping to replace your clients' income our experienced team work with them to get them back to living their life.

Our income protection insurance options

We have two types of income protection insurance for personal customers, and you'll find three more options for our business and rural customers under that section.

AIA Living Income Protection

If your client is unable to work because of illness or injury, this provides a monthly payment to replace a portion of their income. There are three types of cover options: Agreed Value, Indemnity, Loss of Earnings.

AIA Living Mortgage and Income Protection

If your client is unable to work because of illness or injury, this provides monthly payments to help cover a proportion of their mortgage or rent payments, or a portion of their income.

Key benefits for your clients

  • Return to Work Support

    Access to partial and bridging payments as they return to full time work

  • Rehabilitation Help

    We will work closely with your client to consider what rehabilitation or functional support could assist their recovery further

  • Childcare Support

    Reimbursed for additional child care costs for children under 14 years old

  • Cover Suspension

    Suspend their cover for up to 12 months if they go on parental leave or unpaid leave

  • Upgrade to Premier

    Optional benefit that provides extra help like covering in-home carer costs or further financial support

  • AIA Vitality

    Access to AIA Vitality, our scientifically-backed health and wellbeing program

  • Future Proof Products

    Access to our Enhancement Pass Back Benefit. This means changes we make to our AIA Living products in the future are automatically passed back to your clients, offering them even more at claim time


Income Protection Insurance

At a Glance

Please note the following tables are a guide only. Please refer to our brochures and policy wordings for further information.
Benefit Type

Monthly Payment

Eligible Ages Minimum

16

Eligible Ages Maximum

55 or age 60 if in managerial position

Eligible Occupations

Most (classes 1-5) but high risk occupations are excluded*

Term of Cover

To age 65

To age 70 (selected occupations)

Cover (Sum Assured) Options

Level cover

Inflation cover (CPI linked)

Replacement Ratio
Agreed Value:

62.5% up to $70K

60% next 30K

55% for the next $220K

35% of the next $240K

20% any excess

Indemnity/LOE:

75% up to $320k

50% next $240k

20% for any income in excess of $560k

Premium Rate Guarantee

1 year

Benefit Payment Options

1, 2, 5 Years to age 65 or 70

Wait Periods

2, 4, 8, 13, 26, 52, 104 weeks

260 weeks (group policies)

Maximum Sum Assured

$360,000 per annum

Class 5 To Age 55 (max sum assured $30,000 per annum Indemnity only)

Premium Type

Rate for Age

10 years

To age 65

Offsets - How other income or benefit may change your clients' benefit payment

Offsets apply

The information on this page is provided as a sales support tool to be used in conjunction with the appropriate customer brochure and product policy wording. * However hazardous occupations are uninsurable or require different terms. To confirm eligibility please contact an AIA underwriter.
Benefit Type

Monthly Payment

Eligible Ages Minimum

16

Eligible Ages Maximum

55 or age 60 if in managerial position

Eligible Occupations

Most but high risk occupations are excluded*

Term of Cover

To age 65

To age 70 (selected occupations)

Cover (Sum Assured) Options

Level cover

Inflation cover (CPI linked)

Replacement Ratio

Clients can choose either:

> 115% of contractual mortgage repayment or

> 45% of gross income

Premium Rate Guarantee

1 year

Benefit Payment Options

2, 5 Years to age 65 or 70

Wait Periods

4, 8, 13, 26, 52, 104 weeks

Maximum Sum Assured

$72,000 annually

($6,000 per month)

Premium Type

Rate for Age

10 years

To age 65

Offsets - How other income or benefit may change your clients' benefit payment

No ACC offsets

The information on this page is provided as a sales support tool to be used in conjunction with the appropriate customer brochure and product policy wording. * However hazardous occupations are uninsurable or require different terms. To confirm eligibility please contact an AIA underwriter.