Life insurance

Things to note

RACQ’s Life and Income Protection Insurance suite of products described on this website is distributed by RACQ Operations Pty Ltd ABN 80 009 663 414, Authorised Representative Number 234978 (RACQO), an authorised representative of AIA Financial Services Pty Limited ABN 68 008 540 252, AFSL 231109 (AIAFS) and is issued by AIA Australia Limited ABN 79 004 837 861, AFSL 230043 (AIAA). RACQO is a distributor only; it does not sell, issue or guarantee these products. AIAFS and other authorised representatives of AIAFS are also involved in distributing these products. Descriptions of product benefits and features are a summary only. You should consider factors like your objectives, financial situation and needs and read the relevant Product Disclosure Statement (PDS), any applicable Supplementary PDS and Target Market Determinations available on this website before deciding to acquire or continuing to hold any of these products. The information on this website is general and does not take such factors into account so you should consider its appropriateness in the context of such factors. Cover is subject to terms, conditions, limitations and exclusions. The information on this website is current as at 20th July 2022 and may be subject to change.

AIA Australia has adopted the FSC Life Insurance Code of Practice, which contains minimum standards of service that customers can expect from insurers. The code can be found at fsc.org.au.

AIA Vitality partners, benefits and rewards are subject to change at any time. AIA Vitality, a personalised, science-backed program that supports members every day to make healthier choices, is available with eligible products issued by AIA Australia Limited. For the most up-to-date information and to view the AIA Vitality Terms and Conditions see aiavitality.com.au. Partner terms and conditions may also apply.

^*Reach AIA Vitality Silver status or above and you’ll get 10% off your RACQ Life Insurance and 5% off your RACQ Income Protection Insurance premium at your next Policy Anniversary Date. Maintain AIA Vitality Silver status or above to keep the discount each year.

The 10% online discount applies to annual insurance premiums for new RACQ Life Insurance and RACQ Income Protection Insurance policies purchased online for the life of the policy.

• To qualify for the 5% Life and Health Discount (the LHD), you must hold both an eligible health insurance policy and an eligible RACQ Life Insurance policy. Both the eligible health insurance and Life Insurance policies must insure the same person (same name and date of birth must appear on both policies) and have a common mailing address listed.
• Eligible health insurance policy:
  • AIA Health Insurance
• Eligible RACQ Life insurance policies are:
  • RACQ Life Protect
  • RACQ Income Protect
• For Joint Policies, at least one of the insured lives must hold an eligible health insurance policy in addition to an eligible RACQ Life Insurance policy and the LHD will apply to both life insured's premiums under the RACQ Life Insurance Policy.
• Where you have an existing eligible RACQ Life Insurance policy the LHD will be applied at your next payment instalment for fortnightly or monthly premium frequencies. If you have an annual premium frequency the LHD will be applied with immediate effect.
• The LHD will continue to be applied to your RACQ Life Insurance premiums, provided you still qualify by holding an eligible health insurance policy and an eligible RACQ life insurance policy.
• If you no longer hold an eligible health insurance policy, the LHD will be removed at your next Policy Anniversary Date.
• If the eligible health insurance policy is not in place within or at 30 days of policy inception, the LHD will be removed effective from:
  • next payment instalment for fortnightly and monthly premium frequencies; or
  • policy inception for annual premium frequency.
• The LHD is generally applied to the total premium. If you are eligible for other discounts (in addition to the LHD), then generally we apply each additional discount to the already discounted premium.
• AIA Australia Limited reserves the right to vary or discontinue the LHD at any time and without notice.

© 2020, AIA Health Insurance Pty Ltd. ABN 32 611 323 034. PO Box 7302, Melbourne VIC 3004. All rights reserved. AIA Health Insurance with AIA Vitality is issued by AIA Health Insurance Pty Ltd, a registered private health insurer governed by the Private Health Insurance Act 2007, Private Health Insurance Rules 2007 and our Fund Rules. AIA Vitality is issued by AIA Australia Limited ABN 79 004 837 861.

^~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.