AIA revamps product suite
Big insurer AIA Australia has this week unveiled a range of product enhancements to its Priority Protect product suite.
The company said the move was intended to acknowledge what it described as a new generation of policyholders and that the changes were intended to provide greater flexibility and cover for Australian families.
The enhancements include a school fees protector; an optional benefit to cover primary and secondary school tuition fees should the parent die or be permanently unable to work; and a carer's allowance benefit, which will pay an income for up to six months, in the event the individual insured has to give up work to care for a sick child.
Commenting on the move, AIA Australia's chief marketing officer Tim Tez said the enhancements were a direct response to adviser feedback.
"These enhancements have been made with Australian families front of mind," he said.
"At the end of the day, we take out life cover to protect those we love in the event something unfortunate happens. These additional benefits are designed to ease the huge burden a parent may face when they are unable to work due to their own illness, or worse, the illness of a child."
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