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."
Recommended for you
Technology firm Iress and investment manager Challenger have formed a strategic partnership to launch an adviser solution to better serve their retiring clients.
There have only been a “handful” of opportunities in the last 20 years when infrastructure has looked as cheap relative to equities as it does now, according to Lazard, making it a viable option to provide portfolio security amid market volatility.
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
