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AIA Living Accidental Injury Cover Update |
Earlier this year we announced that we were evolving our Accidental Injury Cover (AIC) product and introduced a phased delivery approach to ensure it was fit for purpose for your client’s needs. On 26 April 2024, we released a temporary AIC 11.7 product which introduced specified injury categories, modifications to the amounts paid for some injuries, minimum eligible base cover, and increases to premium rates for new and existing business. Our intention was to launch AIA Living Specified Accidental Injury Cover (SAIC) in August 2024, and close the AIC product to new business. As we have progressed the development of SAIC, we have revised our release date and now expect this will be before the end of the year. We will keep you updated as we progress. |
AIC Claims assessment from 29 August 2024 |
All customers who have purchased AIC 11.7 will automatically be switched to the new SAIC product when it is launched. Please note, from 29 August 2024, we will assess any new claim events for these customers against the wider coverage they will receive under the new AIA Living Specified Accidental Injury Cover. There will be no changes to claim assessment for customers who purchased AIC prior to 26 April 2024 (those holding version 11.6 or earlier). These customers will continue to have their claims assessed in accordance with the policy wording they were issued, or the latest policy wording available for AIA Living Accidental Injury Cover (version 11.7) if that is more favourable for them. For more information, please refer to our FAQs. |
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