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AIA Vitality eligibility rules for Life Insurance provided by AIA Australia & Income Protection provided by AIA Australia

Eligibility to access the AIA Vitality program via Life Insurance or Income Protection Eligibility for membership to the AIA Vitality program arises under and is subject to the AIA Vitality terms and conditions. Access to the AIA Vitality program as a result of holding a Life Insurance or Income Protection product requires your annual premium on your Policy or combined annual premium on all Life Insurance and Income Protection policies to be equal to or greater than $750 per person.

Note: Where the insured holds both Life Insurance and Income Protection policies, through Commonwealth Bank of Australia a combined total annual premium amount equal to or greater than $750 is required to access AIA Vitality.

For example, if the insured has a Life Insurance policy with an annual premium of $550 and an Income Protection policy with an annual premium of $250, then the insured will have access to AIA Vitality as the combined total annual premium for the insured is $800.

Ongoing AIA Vitality eligibility rules via Life Insurance or Income ProtectionAfter you become an AIA Vitality member, your annual premium must continue to be equal to or greater than $750 per person in order to maintain your AIA Vitality membership through your Life Insurance or Income Protection policy.

a) If you (as the policy owner/life insured) initiate policy changes to your Life Insurance or Income Protection policy that affect your premium, your eligibility to access AIA Vitality membership may be impacted. Changes to be aware of include:• Decreases to your sum insured

• Addition/removal of benefits

• Change of smoking status

• Increases to your sum insured

b) Automatic changes to your Life Insurance or Income Protection policy that affect your premium and will impact your eligibility to access AIA Vitality membership are:• Benefit indexation increases

• Age related increases/changes

c) Automatic changes to your Life Insurance or Income Protection policy that affect your premium but will not impact your eligibility to access AIA Vitality membership are:• Additional cover option benefit expiry (such as Total and Permanent Disability and Trauma)

• AIA Vitality status discount (Life Insurance or Income Protection premium discount)

For policies sold under Life Insurance provided by AIA Australia (Life Insurance) & Income Protection provided by

AIA Australia (Income Protection) only

Prepared April 2020

02.

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Scenarios 1 and 2 are examples of: a) Where you as the policy owner/life insured initiate policy changes that affect your premium and will impact your eligibility to access AIA Vitality membership.

Scenario 1

Premium is greater than $750 per year when you (as the policy owner/life insured) apply to decrease your sum insured If by decreasing your sum insured on your Life Insurance or Income Protection policy, your annual premium or combined annual premium reduces to under $750 per annum, you will lose your access to your AIA Vitality membership.

This decrease has impacted your membership access to the AIA Vitality program.

This change is applied within 48 hours.

Scenario 2

Premium is less than $750 per year when you (as the policy owner/life insured) apply to increase your sum insured If by increasing your sum insured on your Life Insurance or Income Protection policy, your annual premium increases to $750 or above, you will have access to AIA Vitality.

You will receive an email to activate your AIA Vitality membership within 48 hours.

Scenarios 3 and 4 are examples of: Automatic changes to your Life Insurance or Income Protection policy that b) affect your premium but will not impact your eligibility to access AIA Vitality membership c) affect your premium and will impact your eligibility to access your AIA Vitality membership.

Scenario 3

Premium falls below $750 per year due to AIA Vitality discountIf your premium exceeds the minimum qualifying amount ($750 per annum) and, as a result of applying the AIA Vitality premium discount your annual premium falls below $750 then your AIA Vitality membership will continue to be available.

This decrease has not impacted your membership access to the AIA Vitality program.

Note: where the life insured has multiple policies, the AIA Vitality discount will be applied only to policies with annual premiums equal to or greater than $750 per annum.

Scenario 4

Premium at Life Insurance or Income Protection policy inception is less than $750 per year and then at your policy anniversary your premium increases to above $750 due to automatic increasesIf as a result of benefit indexation or age related increases, your premium increases to above $750 per year, you will have access to AIA Vitality.

This automatic increase will provide you with access to the AIA Vitality program. You will receive an email to activate your AIA Vitality membership within 48 hours.

Copyright © 2020 AIA Australia Limited (ABN 79 004 837 861 AFSL 230043). AIA Vitality is available with eligible products issued by AIA Australia. For full terms and conditions of AIA Vitality partners, benefits and rewards, and to view the AIA Vitality Terms and Conditions and Benefit Guides see aiavitality.com.au. Partner terms and conditions may also apply. Rules relating to premium discounts where the life insured is an AIA Vitality member are available in the relevant PDS and in the Premium Discount Rules located at aiavitality.com.au. This is general information only without taking into account the circumstances of any individual. It is not intended as medical, health or other advice.

04/20 – VIT5091 Document updates eligibility rules for life insurance