Transcription of Priority Protection - AIA
1 Get up to initial discount on eligible AIA Australia policies with AIA Vitality. Plus turn everyday healthy choices into ongoing rewards and inside for how our AIA Vitality program can help you get more out of your the Disclosure StatementVersion 17, Date Prepared 16 December 2017 PriorityProtectionAIA57 v17 12/17 Turn to the back to find out about AIA Vitality, a health and wellness rewards program offered by AIA up to initial discount on eligible AIA Australia policies Important NotesThis Product Disclosure Statement ( PDS )
2 Describes the main features of six separate Priority Protection insurance plans; Life Cover Plan, Crisis Recovery Stand Alone Plan, Income Protection Plan, Business Expenses Plan, Superannuation Life Cover Plan and Superannuation Income Protection Life Cover Plan, Crisis Recovery Stand Alone Plan, Income Protection Plan and Business Expenses Plan ( Ordinary Plans ) are benefits under a life insurance Policy issued by AIA Australia Limited (ABN 79 004 837 861 AFSL 230043) ( AIA Australia ) to the Policy Owner (usually you).
3 The Superannuation Life Cover Plan and Superannuation Income Protection Plan ( Superannuation Plans ) are benefits under a separate life insurance Policy issued by AIA Australia to the trustee of a superannuation fund and have some different terms and conditions than the Policy issued for the Life Cover and Income Protection through Ordinary of the Plans has stand alone insurance covers that can be selected individually or in combination, each with built-in benefits and optional benefits (Riders) that you can select at an additional cost.
4 (See Structure diagram on pages 2 5.) Each of the benefits under the Plans has an entry age and Expiry Date, together with a maximum sum insured, depending on your Occupation Category. (See Summary tables on pages 6 13.)The formal terms and conditions of each Plan are set out in the Policy Document(s), which is available from If there is any inconsistency between this PDS and the Policy Document(s), the full terms and conditions contained in the Policy Document(s) will prevail. AIA Australia is not bound to accept any application for cover.
5 This PDS also describes the main features of the AIA Insurance Superannuation Scheme No2 ( Scheme ), a risk-only superannuation product issued out of the Aon Master Trust ABN 68 964 712 340 by Equity Trustees Superannuation Limited, ABN 50 055 641 757, AFS Licence No, 229757 ( Trustee ) as trustee of the Scheme. The Scheme is governed by a Trust Deed, available from and superannuation law. If there is any inconsistency between this PDS and the Trust Deed, the Trust Deed will prevail, subject to the requirements in superannuation note.
6 Your cooling off rights and the dispute resolution arrangements for dealing with any complaints you may have about the products you acquire are different depending on whether or not you acquire insurance through the Priority Protection through superannuationThe Superannuation Plans offered by AIA Australia can only be acquired through a superannuation fund. The Superannuation Life Cover Plan and the Superannuation Income Protection Plan can be acquired through a self-managed superannuation fund ( SMSF ) if you are a member of the fund.
7 Alternatively, you can become a member of the Scheme in which case: you will be issued with a risk-only superannuation product in the Scheme, with superannuation benefits referable to the Superannuation Life Cover Plan and/or the Superannuation Income Protection Plan; the Policy will be owned by Equity Trustees Superannuation Limited, as the trustee of the Scheme; and all premiums and benefit payments will be made through the Scheme and are therefore subject to restrictions under the Trust Deed and superannuation law.
8 About this PDSThis PDS covers both the insurance products issued by AIA Australia and the risk-only superannuation product issued by the Trustee of the Scheme. AIA Australia and the Trustee each takes full responsibility for the entirety of the PDS but AIA Australia is not responsible for the operation of the Scheme and the Trustee is not responsible for the operation of the Plans or the insurance policies and any associated programs or discounts issued or offered by AIA document should be read before making a decision to acquire any of the Plans and, in the case of the Superannuation Plans, before making a decision to apply for membership of the Scheme.
9 It is intended to help you decide whether the Plans and, where applicable, the Scheme will meet your needs and to compare them with other products you may be considering. The information in this PDS is current as the date of preparation of the PDS. Information contained in this PDS may change from time to time. The PDS may be updated or replaced at any time, and you can obtain a copy of the current version on request, free of charge, by calling AIA Australia on 1800 333 613. If there is a change to information in the PDS that is not materially adverse information, the PDS will be updated by making updated information available to you at A paper or electronic copy of any updated information made available from the website can be obtained on request, free of charge, by calling AIA Australia on 1800 333 613.
10 If you acquire an insurance or superannuation product under this PDS, you will be advised of material changes or significant events as required by information in this PDS is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Therefore, before making any decision you should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. If you are deciding whether to acquire one or more of these Plans or a risk-only superannuation interest in the Scheme, you should read this PDS before making your decision.
