Live your life, while we protect your future. Personal Cover A simple guide to looking after you and yours
We re all familiar with the concept of maintaining physical health, with good food and exercise, but how often do you think about your long-term financial health? It s all about risk planning and management identifying the events that have the potential to rock your boat and then making plans to stay afloat. Protecting your financial wellbeing, at every stage of life. Do a quick financial check-up Similar to a medical check-up, a financial health check aims to identify your current financial strengths and weaknesses by working through the five areas of personal risk that are likely to affect you. The information you ll gather will help you and your AIG Life adviser to make good decisions about risk management solutions. The five areas of personal risk: 1. Health problems requiring hospitalisation. 2. Being unable to work for several months. 3. Suffering a trauma (illness or accident). 4. Being unable to work ever again. 5. Premature death.
The first risk: Health problems requiring hospitalisation The first risk You can t predict what health problems will happen to you in the future, and you can t foresee how they ll impact on your family, lifestyle and earning ability. It s important to remember that not all treatments or costs are covered by the public health system, and you often have no control over the timing or quality of the care you receive. However if you have health insurance, you can choose your doctor or specialist, and you can choose when and where you are treated - all with the assurance that you ll be able to recover all or most of the costs. Ask yourself: How would it impact your life to be on a public hospital waiting list for six months or longer? How much would it cost to get treatment for a non-acute condition? Where would this money come from? Indicative costs of procedures* as at March 2006 (inc GST) Cardiac bypass (heart surgery) $25,000 - $35,000 Valve replacement (heart surgery) $32,000 - $42,000 Angiogram (diagnostic test) $3,400 - $4,000 Angioplasty - without stents (heart surgery) $12,000 - $14,000 Angioplasty - with 2 stents (heart surgery) $17,000 - $20,000 Total hysterectomy (surgery) $4,800 - $8,000 Laparoscopic hysterectomy (surgery) $8,000 - $11,000 Laparoscopic excision of endometriosis (surgery) $4,500 - $12,000 Prostate removal (cancer surgery) $7,000 - $12,000 Prostate brachytherapy (cancer surgery) $20,000 - $30,000 Excision of cancerous skin lession $350 - $3,000 Colonoscopy (diagnostic test) $950 - $1,500 Radical mastectomy (breast cancer surgery) $3,500 - $8,000 Gastroscopy (diagnostic test) $600 - $1,000 Laparoscopic cholecystectomy (gall bladder surgery) $4,500 - $7,500 Total hip replacement (surgery) $13,000 - $20,000 Total knee replacement (surgery) $13,000 - $20,000 Cataract removal (eye surgery) $2,600 - $3,500 Thyroidectomy (surgery) $5,000 - $8,000 *Procedure costs will vary depending on the location, the medical practitioner/s, any medical complications, and the medical procedure and technology used. Source: Health Funds Association of New Zealand. Example: At age 42, Greg discovered he had high blood pressure during a routine health check. His GP sent him to a cardiologist for tests and advice. Greg started taking daily medication and made some lifestyle adjustments, but eight months later started to experience angina pains in his chest. His cardiologist sent him for an angiogram (a test that shows blood flow through the heart arteries), which revealed that his best hope for a long life was coronary bypass surgery. Over a period of 12 months, Greg s specialist and surgery bills totalled more than $60,000. Fortunately he had health insurance, which covered the full cost less a $500 excess. Risk management for health problems Health cover generally means no waiting list. It pays for the hospitalisation and surgical treatment you need, including the specialist visits that lead up to it.
The second risk: Being unable to work for several months An accident, illness or temporary disability at some time during your working life is a very real possibility. The second risk Recovery from a car crash; a sporting injury; a temporary but serious illness; a mental health problem; occupational overuse syndrome - any of these issues could require months off work. Sick pay generally only covers a few days absence every year, so what would you fall back on? Ask yourself: If you were unable to work because of illness or an accident, how would you cover debt repayments (mortgage, credit card, personal loans)? How would you pay regular household expenses? Your quick analysis Expenses Monthly cost Mortgage repayments Other loan repayments Food and utilities (power, water, gas) Other expenses (school fees, vehicle running, clothes) Total Monthly Expenses $ Risk management for being unable to work Income Protection provides you with an ongoing income (up to 75% of your usual income) typically until either you are well enough to work again or until your benefit period is reached. Example: 58-year-old Dave was rushed to hospital with severe chest pain. He had angioplasty (surgery that restores normal blood flow through a clogged artery), but continued to have ongoing pain despite his treatment. Normally, Dave could have expected to be back at work within weeks following his surgery, but his recovery was not as quick as he d hoped. Ten months following his first hospitalisation, he was still unwell and unlikely to be able to return to his construction job in the near future. While all this was going on, Dave s income protection insurance helped to cover mortgage payments and living expenses for his family.
The third risk: Suffering a trauma A trauma is a serious illness or disability, such as critical cancer, heart attack or paralysis. Statistics tell us that two in five people (40%) will experience a critical illness before age 65 1. To plan for this risk, you need to think how your household would be affected if you or another income earner were to become critically ill. 1. General Cologne Life Re Australia 2002. Ask yourself: How would you pay for specialised medical treatment not covered by the public health system? How would you manage, reduce or service debt repayments (mortgage, credit card, personal loans)? The third risk How would you afford regular household expenses? Your quick analysis Current and Future Liabilities Amount Mortgage Other debts Cash for treatment Total Monthly Expenses $ Risk management for trauma Trauma Cover pays a lump sum when specific conditions, as specified in the policy wording, are diagnosed. The sum can be used for any purpose reducing debt, living expenses or a recuperative holiday. Example: After a doctor s examination, 31-year-old Marie was told she had haemorrhoids. She was referred to a specialist. The specialist performed a sigmoidoscopy and discovered what he believed was a rectal carcinoma, a form of bowel cancer. Marie had more tests, which confirmed the specialist s diagnosis. After an initial major surgery, Marie had several follow-up surgeries over a period of 12 months. Her trauma benefit paid a lump-sum that enabled her to reduce her liabilities and pay for alternative therapies that aided recovery.
The fourth risk: Being unable to work ever again You could reach this point in your life quickly or slowly. Illness can gradually erode your health until you re unable to work ever again; a serious accident could leave you totally and permanently disabled. Statistics tell us that for every death in our country, 17 people will become disabled to the point where they can t work 2. When working life comes to a premature stop, there are both present and future needs to consider. 2. *BERL Disablement Research, National Health Statistics Centre Ask yourself: In the short and medium term, how will you take care of debt and pay for living expenses? How will you take care of future needs, such as education, helping your kids into their first homes or funding retirement? Your quick analysis Current and Future Liabilities Mortgage Amount The fourth risk Other debts Family requirements Retirement funding Total Monthly Expenses $ Risk management for being unable to work Total Permanent Disablility Cover normally pays a lump-sum if you are permanently disabled due to illness or accident. The sum can be used for any purpose, but it is particularly useful for eliminating or reducing debt and replacing future income loss. Example: 53-year-old Robbie was on his way to work when a commercial van pulled out in front of him. The ensuing collision gave Robbie a fractured tibia requiring external fixation; he also suffered several fractured ribs. Robbie developed a chronic compartment syndrome in the lower portion of his damaged leg. After three surgeries he was left with a significant permanent disability and an ongoing need for medical care. He was unable to return to his teaching job. Because he had an own occupation total permanent disability policy, he was able to make a claim which provided him with the funds to help plan for his future.
The fifth risk: Premature death In New Zealand, one in six men and one in nine women over 30 will die between the ages of 30 and 65 3. While it s easy to say that won t be me, denying the possibility of premature death is like playing Russian roulette. Premature death isn t really about you, it s about the people who depend on you for financial and emotional support. They ll need help in the short, medium and long term. 3.Statistics New Zealand (2004), New Zealand Life Tables 2000-2002. Ask yourself: If you were diagnosed with a terminal illness and likely to die within a year, how could you ensure quality time with your family before you go? Who will pay the funeral expenses? Will the family home have to be sold? Will your partner/spouse be earning enough to cover regular living expenses? What about the things you d wish for your kids, such as great holidays and a good education? Your quick analysis Current and Future Liabilities Amount Mortgage Other debts Family income requirements Other future requirements (e.g. retirement of spouse) Total Monthly Expenses $ Risk management for premature death Life Cover pays out if you die prematurely. It also gives you the option of full payment if you are diagnosed as terminally ill. Payment can either be a lump-sum, a regular payment or a combination of both. Example: Lisa, a 29-year-old mum with two children under 10, could only afford trauma cover and life cover. As it turned out, she made a wise choice because a year later she was diagnosed with breast cancer and had to have a double mastectomy. While Lisa was able to claim on her trauma cover, tragically the cancer returned and brought with it a terminal diagnosis. By claiming the terminal illness benefit of her life cover, Lisa was able enjoy her final months with her family without the pressure of financial worries and even took them to Disneyland. She died at age 32 knowing their future was financially secure. The fifth risk
The value of good advice Personal cover at a glance While it s easy to recognise that you need one or several forms of personal insurance, choosing the plans and doing the figures requires professional advice. AIG Life personal insurance products are only available through our network of professional advisers, so that you get the qualified guidance that s necessary for intelligent insurance decisions. A good adviser will walk you through the risks, do a thorough needs analysis, provide options and then let you make the final choices. Ideally, you should review your personal insurance needs at least every two years, so that cover can evolve along with your life. An extra child, a bigger mortgage or kids leaving home are circumstances that can change your insurance needs. Are you a business owner? Planning for and managing your personal risks is potentially a waste of time if you haven t looked after the risks associated with your business. Business liabilities could impact your personal finances, eroding the insurance comfort zone you ve created around your family. Talk to your AIG Life adviser about business insurance products that can help. Risk Management Benefit Your adviser s strategy recommendation Health problems Health Insurance Get the quality health treatment you need, when you need it. We offer a choice of two types of policy to provide you with surgical and non-surgical private hospital care, as well as many other useful benefits. Unable to work for several weeks or months Income Protection Your ability to earn money is probably your most valuable asset. You can look after it with Income Protection insurance, which pays a benefit if you re unable to work due to sickness or accident. Diagnosed with a traumatic condition Trauma Cover Did you know that one in five people will experience a critical illness between the ages of 35 and 65? This cover pays a lump sum for specified serious illnesses or accidents. Permanently disabled Total Permanent Disability Nobody likes to think about becoming disabled, but permanent disability affects as many as 20% of New Zealanders. This valuable cover pays a lump sum if you suffer total and permanent disability. Premature death Life Cover If you have dependents or ongoing financial commitments, Life Cover provides essential reassurance. It pays a lump sum if you die before 65; there s also a terminal illness benefit. Permanent Term This innovative type of term Life Cover presents you with some attractive options after 10 years. One of your options is to have all your premiums refunded. All of our Personal Cover Solutions in depth >
Superior Health The first risk: Health problems requiring hospitalisation Superior Health Cover Get the quality health treatment you need, when you need it. We offer a choice of two types of policy to provide you with surgical and non-surgical private hospital care. The second risk: Being unable to work for several months Income Protection Cover Income Protection helps look after one of your most valuable assets your ability to earn money. It provides financial support if you re unable to work for an extended period of time. Who s it for? Families: Health cover lets you act quickly when someone in your family needs specialist treatment or an operation. Health cover is particularly important for income earners, because it can be difficult to keep working while you re waiting for treatment through the public health system. Common children s operations, such as grommets and tonsillectomy, won t require weeks of painful waiting. Couples: For couples, health cover provides essential reassurance that you can afford surgery or specialist treatment as soon as it s needed. Cover looks after you at every stage of life - from a youthful hernia operation right through to the hip replacement years. Single Adults: Imagine having to wait months, maybe years, for a knee or hip operation. With health insurance, you generally get the treatment you need quickly so that you can remain independent. What do you get? Surgery in a private hospital You re covered for expenses incurred for surgery in a private hospital in New Zealand. Referral from a specialist is required. This benefit covers surgeon s and anaesthetist s fees, theatre fees, post-operative and ancillary charges, high dependency unit charges, nursing fees, prostheses, hospital accommodation, diagnostic procedures and specialist consultations. Treatment in a private hospital You re covered for private hospital treatment that doesn t require surgery. Referral from a specialist is required. This benefit covers charges for chemotherapy and radiotherapy, prescription drugs listed on the PHARMAC schedule, cardiologist fees and angiography, hospital accommodation, diagnostic procedures and specialist consultations. Home nursing You re covered for the cost of home nursing care up to six months after private hospitalisation. Overseas treatment grant If treatment can t be provided in New Zealand, this benefit pays up to a maximum of $20,000 to offset the cost of overseas treatment. Other special benefits Our health cover includes many other special benefits: Specialist minor surgery, complications of pregnancy and childbirth, medical misadventure benefit, funeral benefit, public hospital cash benefit and hospice cover. Alternative Cover Superior 3 Health Cover: All the benefits of Superior Health Cover, plus cover for most pre-existing medical conditions after the policy has been in force for three years. Quick facts Your age You need to be between 16 and 65* years of age to get Superior Health Cover. Premiums Five-yearly stepped from age 20 to 64. Level from age 65 (yearly renewable). Excess options Nil, $250, $500, $1,000 or $2,000. *Individual consideration will be given to ages outside this range. Who s it for? Families: This type of insurance is very important for income-earners. If the person insured is unable to work, due to sickness or accident, Income Protection Cover provides a monthly replacement income. Couples: For couples with joint financial responsibilities, Income Protection Cover is a way to take care of expenses if either of you is unable to work due to sickness or accident. Single Adults: Even if there s only you to worry about, Income Protection Cover is valuable. It replaces your income to ensure you can still support yourself. What do you get? Income protection If you re unable to work in your own occupation for more than 10 hours a week, due to sickness or accident, you ll receive a monthly income that s up to 75% of your pre-tax income. You ll have money to support your lifestyle when the sick pay runs out. Agreed value or indemnity value With agreed value, the income you normally receive at claim time is agreed when you first take out cover. With indemnity value, the income you receive at claim time is equivalent to 75% of the best consecutive 12 months income over the 36 months before you claimed, or the amount specified in the policy schedule less offsets, whichever is least. Booster option If you take this option, at claim time you ll receive an additional benefit of up to one third of your total disability benefit for up to three months. Split benefit option To reduce monthly premiums, you can split your cover into two parts and give each part a different waiting period and benefit amount. Alternative Cover Vital Income Protection: Provides an income in the event of a disability caused by one of the defined critical illness conditions. Key Person Benefit: Provides an income benefit if a key person in your business is disabled and unable to contribute to the income of the company. Business Overheads Cover: Pays 100% of allowable business expenses eligible at the time of claim. Farmers Benefit: Covers a percentage of the farm s gross turnover to an agreed level. Waiver of Premium: Pays your insurance premiums when you can t work because of illness or disability. Quick facts Your age You need to be between 16 and 59* or 16 and 54 years of age (depending on occupation class) to get Income Protection Cover. Duration of policy Policies are annually renewable to age 65. Standard features Bed confinement benefit, occupational retraining benefit, rehabilitation benefit, total permanent disability benefit. Benefit periods Two years, five years, to age 65. Waiting periods 4, 8, 13, 26, 52 or 104 weeks. Premium options One year, five year, level (not guaranteed). Optional benefits Rural income protection benefit, booster benefit. *Individual consideration will be given to ages outside this range. Income Protection
The third risk: Suffering a trauma The fourth risk: Being unable to work ever again Trauma Cover Did you know that one in five people will experience a critical illness between the ages of 35 and 65? This cover pays a lump-sum for specified serious illnesses or accidents. Who s it for? Families: Trauma Cover provides valuable reassurance for income-earners; it s also important for a partner who s at home caring for children and looking after the home. If the person insured has a bad accident or is diagnosed with a major illness, money from a Trauma Cover claim can replace income, help with health expenses or even pay for a family holiday. Total Permanent Disability Nobody likes to think about becoming disabled, but permanent disability affects as many as 20% of New Zealanders. This valuable cover pays a lump sum if you suffer total permanent disability. Who s it for? Families: This cover provides valuable reassurance for income-earners; it s also important for a partner who s at home caring for children and looking after the home. If the person insured suffers total and permanent disability, money from a claim can replace income, help with health expenses or pay for house modifications. Trauma Cover Couples: For couples with joint financial responsibilities, Trauma Cover is a way to soften the stress of a major illness or accident. The lump-sum payment from a claim could be used to clear mortgage commitments or allow a couple of years off work. Single Adults: Trauma Cover can provide you with the ability to look after yourself financially if you become critically ill or have a serious accident. It s a way to stay independent. What do you get? Critical illness or accident cover A lump sum that s payable if you suffer a specified critical illness or accident while the policy is active. This money can help your family, spouse and/or partner. Life Cover buy-back If you have accelerated Trauma Cover and make a claim, you ll receive a lump-sum payout that may be equivalent to your Life Cover. This feature means you can buy back your Life Cover without needing to provide evidence of health. Funeral benefit We will pay a funeral benefit of $5,000 if you die during the term of your Trauma Cover policy and no Trauma Cover benefit is payable. Angioplasty benefit Cover for angioplasty is included, in addition to the listed critical illnesses. If you have an angioplasty, you ll receive 10% of the Trauma Cover sum assured up to a maximum of $25,000. Special events increase At certain times you can increase your Trauma Cover amount by up to $150,000 without further medical evidence. These special events include marriage or civil union, divorce or legal separation, birth or adoption, salary increase or career change, taking full-time care of a dependant, tertiary education of a child or increasing your mortgage. This feature makes it easy to adjust cover to fit your changing life. Optional cover You can choose to add a Women s Additional Cancer or Male Prostate Removal benefit. Claims pay 10% of the Trauma Cover sum assured up to a maximum of $25,000. You can also add cover for children aged between three and 21 years. Reinstatement option This option allows reinstatement of up to 50% of the original Trauma Cover claim paid. The reinstated cover is for non-related critical illnesses. What health events are covered? Accidentally acquired HIV Alzheimer s disease Aplastic anaemia Blindness Chronic liver failure Chronic lung disease Cognitive impairment Coma Coronary artery surgery Critical cancer Major head trauma Heart attack Heart valve replacement Kidney failure Loss of independent existence Loss of the use of two limbs or one limb and sight of one eye Major burns Major organ transplant Multiple sclerosis Muscular dystrophy Paralysis (quadriplegia, paraplegia, diplegia, hemiplegia) Parkinson s disease Permanent loss of hearing Permanent loss of speech Pulmonary arterial hypertension (primary) Stroke Surgery to the aorta Quick facts Your age You need to be between 16 and 64* years of age to get Trauma Cover. Duration of policy Policies are annually renewable to age 69. Type of cover Level or inflation linked. Accelerated or standalone. Maximum cover $2,000,000. Premium guarantees You can ensure that your premium stays the same by choosing a premium guarantee period of one, five or 10 years, or by taking the Level to Age 65 option. ** *Individual consideration will be given to ages outside this range. ** Premium rates may increase due to age changes. Couples: For couples with joint financial responsibilities, this cover could be used to clear mortgage commitments or create an income-earning investment fund. Single Adults: Total Permanent Disability Cover can provide you with the ability to look after yourself financially if you re not able to work again. What do you get? Cover anywhere in the world You re covered 24 hours a day, anywhere in the world. Choice of accelerated or standalone Total Permanent Disability Cover can be either an accelerated payment against your Life Cover benefit, or a standalone payment which is additional to Life Cover. Special events increase At certain times you can increase your Total Permanent Disability Cover amount by up to $150, 000 without further medical evidence. These special events include marriage or civil union, divorce or legal separation, birth or adoption, salary increase or career change, taking full-time care of a dependant, tertiary education of a child or increasing your mortgage. This feature makes it easy to adjust cover to fit your changing life. Life Cover buy-back If Total Permanent Disability Cover is written in conjunction with a death benefit, you have the option to replace the full amount of the accelerated death benefit following a Total Permanent Disability Cover claim on the first anniversary of the claim. This can be done without further evidence of health. Any occupation option You can claim the full cover amount if you re unable to do a similar kind of work as a result of injury or illness for a period of six consecutive months, after consideration of medical evidence, that you are unable to ever engage in work again. Own occupation option You can claim the full cover amount if you re unable to do your usual job as a result of injury or illness for a period of six consecutive months, after consideration of medical evidence, that you are unable to ever engage in work again. Quick facts Your age You need to be between 16 and 59* years of age to get Total Permanent Disability. Duration of policy Policies are annually renewable to age 65. Type of cover Level or inflation linked. Accelerated or standalone. Maximum cover $5,000,000.** Premium guarantees You can ensure that your premium stays the same by choosing a premium guarantee period of one, five or 10 years, or by taking the Level to Age 65 option. *** *Individual consideration will be given to ages outside this range. **Up to $3,000,000 on any or own occupation basis, plus $2,000,000 on an Activities of Daily Living basis. *** Premium rates may increase due to age changes. Total Permanent Disability
The fifth risk: Premature death Life Cover Life Cover pays out if you die. It s designed to look after the people who depend on you. It can also be used to help tidy up financial commitments. Permanent Term This innovative type of term life cover presents you with some attractive options after 10 years. One of your options is to have all your premiums refunded. Who s it for? Families: Life Cover is very important for income-earners, but it s also important for a partner who s at home caring for children and looking after the home. If the person insured dies, money from a Life Cover claim can replace income or pay for essential home services to keep the family functioning. Who s it for? Families: Permanent Term can be very useful for income-earners, but it s also important for a partner who s at home caring for children and looking after the home. If the person insured dies, money from a claim can replace income or pay for essential home services to keep the family functioning. Couples: For couples with joint financial responsibilities, Life Cover is a way to ensure future security. The lump-sum payment from a Life Cover claim could be used to clear mortgage commitments or provide a retirement investment fund. Couples: For couples with joint financial responsibilities, Permanent Term is a way to ensure future security. The lump-sum payment from a claim could be used to clear mortgage commitments or provide a retirement investment fund. Single Adults: Life insurance can cover funeral costs. It can also provide support for an elderly parent or anyone else in the family who could benefit from financial support. Single Adults: Permanent Term can cover funeral costs. It can also provide support for an elderly parent or anyone else in the family who could benefit from financial support. What do you get? Terminal illness benefit If you re diagnosed with an illness and are likely to die within 12 months, an accelerated payment of 100% of the sum assured may be paid. You could use this money to ensure quality time with your family before you die. Funeral benefit If you die while the policy is active, an accelerated payment of $7,500 may be made to help with funeral expenses. Death cover A lump-sum that s payable if you die while the policy is active. This money can help your family, spouse and/or partner to maintain their current lifestyle. Special events increase At certain times you can increase your Life Cover amount by up to $150,000 without further medical evidence. These special events include marriage or civil union, divorce or legal separation, birth or adoption, salary increase or career change, taking full-time care of a dependant, tertiary education of a child or increasing your mortgage. This feature makes it easy to adjust cover to fit your changing life. Conversion Before you reach age 65, you can convert all or part of your Life Cover benefit to a Permanent Term policy without additional medical checks. Future insurability option This option allows you to increase the sum assured by 20% every two years, for a maximum of five times, over the first 10 years of your policy without further medical evidence. Special conditions apply. Interim accidental death cover In the period between applying for Life Cover and having your application accepted, you are covered for accidental death for the sum assured you ve chosen up to a maximum of $500,000. Some exclusions apply. Monthly benefit option Life Cover can be paid as a monthly benefit instead of a lump sum. Talk to your AIG Life adviser about this option. Accidental death option If your age or a pre-existing condition makes Life Cover unaffordable, talk to your AIG Life adviser about Accidental Death Cover, which pays a lump-sum payment if you die in an accident. Quick facts Your age You need to be between 16 and 59* years of age to get Life Cover. Duration of policy Policies are annually renewable to age 99. Premium guarantees You can ensure that your premium stays the same by choosing a premium guarantee period of one, five or 10 years, or by taking the Level to Age 65 option. ** What do you get? Choice of contracts Permanent Term gives you several options after 10 years of cover. You can have all your premiums refunded; you can continue with a certain level of cover, with the option of getting premium refund later; or you can extend cover to a set age without any further premium payments. Death cover An annually renewable lump-sum product that s payable if you die while the policy is active. This money can help your family, spouse and/or partner. Special events increase At certain times you can increase your Life Cover amount by up to $150,000 without further medical evidence. These special events include marriage or civil union, divorce or legal separation, birth or adoption, salary increase or career change, taking full-time care of a dependant, tertiary education of a child or increasing your mortgage. This feature makes it easy to adjust cover to fit your changing life. Life Cover Terminal illness benefit If you re diagnosed with an illness and are likely to die within 12 months, an accelerated payment of 100% of the sum assured may be paid. Future insurability option This option allows you to increase the sum assured by 20% every two years, for a maximum of five times, over the first 10 years of your policy without further medical evidence. Special conditions apply. Quick facts Your age You need to be between 16 and 69* years of age to get Permanent Term Cover. Premium options Guaranteed; level or indexed. Contract options Permanent Term Plus (PT+) Permanent Term 10 (PT10) *Individual consideration will be given to ages outside this range. Permanent Term * Individual consideration will be given to ages outside this range. ** Premium rates may increase due to age changes.
About AIG Life The global story AIG is the world s leading international insurance and financial services organisation, with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance network of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG s global businesses also include retirement services, financial services and asset management. AIG s financial services businesses include aircraft leasing, financial products, trading and market making. AIG s growing global consumer financial business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialised investment management capabilities in equities, fixed income, alternative investments and real estate. AIG s common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo. The local story Until recently AIG Life was known as AIA New Zealand. Our name change aligns us with our global organisation, making it easier for customers to recognise the international significance of our brand. Since the company arrived in New Zealand in 1981, we ve consistently provided the market with innovative personal and business insurance products that suit the Kiwi way of life. Today we re a market leader, offering a complete range of risk management products. It s always been our strategy to sell our products through independent financial advisers, aware that their aim is to provide clients with informed, unbiased advice. Our products perform very well in this open market sales situation, because the size of our global operation allows us to provide exceptional benefits and value for money. Protect your life, while we protect your future. AIG Life is based in Takapuna, Auckland with regional offices in Wellington, Hamilton and Christchurch. However, through our adviser network, we reach every corner of the country. AIG Life is a member of the Investment Savings and Insurance Association (ISI), the Insurance & Savings Ombudsman Scheme (ISO) and Health Funds Association of New Zealand (HFANZ).
Disclaimer: AIG Life has made all reasonable efforts to ensure that the information in this guide is correct as at the date of printing. This guide is provided by way of general information only and is not to be relied upon as a substitute for obtaining professional advice on the specific circumstances of the individual or business. Please note the information contained in this guide is a summary only and should not be regarded as a full explanation of the contract. Please refer to the terms and conditions of the policy document for full details of the contract and the limitations and exclusions that apply. All appllications are subject to individual consideration. Special terms, exclusions and premium loading may apply to individual applications. Policies underwritten by American International Assurance Company (Bermuda) Limited, trading as AIG Life.Ł A member of American International Group, Inc. American International Assurance Company (Bermuda) Limited, trading as AIG Life. A Member of American International Group, Inc.