AIA New Zealand

The only New Zealand life insurer whose wellness programme discounts the premium, and the largest by policies in force. Also writes private health cover, in two tiers, under the same licence. Part of the listed AIA Group.

Reviewed by Henry Smith, Financial Adviser (FSP1010699). Updated 17 September 2026.

Who owns and underwrites AIA

QuoteHub’s read. AIA is rated AA by Fitch, writes life, three separate trauma products, income protection and private health cover, and is the one insurer here whose wellness programme discounts the premium: Vitality starts at 10%, moves each year with your status, and does not attach to every product.

AIA reviewed

Reviewed and updated 17 September 2026 by Henry Smith, Financial Adviser (FSP1010699), for the QuoteHub adviser team. The tables above are register records; this section is our read of them.

Verdict (2026)

AIA is the insurer to shortlist when balance-sheet strength and one-stop cover matter most. AIA New Zealand Limited carries the highest grade of any life insurer on the Reserve Bank register. The range covers life, health, trauma, disability and income cover under one underwriter. Vitality can cut your premium if you engage with it, and does nothing for you if you will not. The full range is adviser-arranged, the published claims percentages sit below some rivals, and the online Starter Plans are deliberately basic.

Pros and cons

Claims record: two years of published figures

AIA publishes headline claims data, and two recent years are on the public record. For calendar 2024 it reported paying 92% of all claims received and $829.6 million in total. That total includes GST, maturities and surrenders of $103.7 million. It was a $95 million increase on the prior year, led by life, health and trauma claims. Source: AIA Claims Compass press release, read 18 August 2026.

For calendar 2025 AIA states it paid 91% of claims and $790.3 million between 1 January and 31 December 2025, again including GST, maturities and surrenders. Source: AIA claims page, read 18 August 2026.

The 2024 report put its spotlight on mental health. AIA paid $25.7 million towards mental-health-related claims that year and $8.1 million for suicide claims. Customers aged 40 to 59 were the most affected group at $17.7 million. AIA also reports spending more than $1.3 million a year on rehabilitation, over half of it supporting customers with mental health conditions.

Published claims percentages are not comparable between insurers. Each one picks its own denominator and period:

• AIA New Zealand: 92% of all claims received, calendar 2024, and 91% of claims, calendar 2025
• Asteron Life: 97% of trauma, life and income protection claims received, July 2023 to June 2024
• Partners Life: 95% of all assessed claims, April 2024 to March 2025
• Fidelity Life: 93% of all new claims, July 2024 to June 2025

AIA's figure covers all claims received across the largest claims book in the country. Some rivals report on narrower product sets or assessed-only denominators. That is one reason a lower headline percentage does not prove a less willing payer.

Making a claim with AIA

Claims do not have to go through an adviser. You can lodge through your adviser or by calling AIA on 0800 500 108, weekdays 8:30am to 5:00pm. Health claims can also be lodged online or through the MyAIA portal. A claims team member is allocated as your contact while the claim is assessed. The postal address is AIA New Zealand Limited, Private Bag 92499, Victoria St West, Auckland 1142. Source: AIA claims page, read 18 August 2026.

AIA Vitality: how the discount actually works

Vitality is a health and wellbeing programme attached to eligible AIA policies. It is the only programme of its kind among the major NZ life insurers. Eligible policies start with a 10% premium discount. At each policy anniversary the discount then moves with your Vitality status. Platinum lifts it by 2 percentage points a year to a maximum of 20%, Gold holds it steady, and lower engagement moves it down each year to a floor of 0%. Source: AIA Vitality Premium Flex rules, read 18 August 2026.

Two limits matter. AIA Cover for Life and AIA Essentials Life Cover are not eligible for the discount. A monthly Vitality membership fee is charged separately from your premium. Source: AIA Vitality page, read 18 August 2026.

Members earn points through fitness tracking, health checks and other activities, moving through Bronze, Silver, Gold and Platinum. The honest framing is that the discount is earned, not given. Engage properly and it can climb towards 20%. Ignore it and the discount erodes towards zero while the fee keeps running.

Exclusions and things to note

Every point below comes from a named AIA page or document, with the date we read it. The policy wording governs any claim, not this page.

• Two products are excluded from the Vitality discount. AIA Cover for Life and AIA Essentials Life Cover do not qualify. Source: AIA Vitality page, read 18 August 2026.
• The Vitality membership fee is charged separately from your premium, and it continues even if your discount falls. Source: AIA Vitality page, read 18 August 2026.
• The Vitality discount can fall to 0%. Low engagement moves it down at each anniversary to a floor of zero. Source: Premium Flex rules, read 18 August 2026.
• The newborn children's benefit is not available with Severe Trauma, and pays the lower of $50,000 or 50% of the sum assured, for eight specific congenital conditions. Source: AIA trauma insurance page, read 18 August 2026.
• Buying trauma cover back after a claim is an option, not automatic, and applies to Critical Conditions. Source: AIA trauma insurance page, read 18 August 2026.
• The multi-policy discount of up to 15% carries terms and eligibility conditions. Source: AIA trauma insurance page, read 18 August 2026.
• Starter Plans are basic cover only, limited to life, rent or mortgage protection. Everything broader is adviser-arranged. Source: AIA Starter Plans, read 18 August 2026.
• Sovereign ranges are closed to new sales. Existing policies stay in force and are serviced by AIA, with dated enhancement summaries published for each. Source: AIA policy wordings and enhancements, read 18 August 2026.

Where AIA sits with QuoteHub

AIA is one of the insurers on QuoteHub's advice panel. It appears in the list of providers on our disclosure page alongside Partners Life, Fidelity Life, Chubb Life, Asteron Life, Momentum Life, nib and Southern Cross. Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. Henry Smith is a Financial Adviser (FSP1010699). Details of how our advisers are paid are on the disclosure page.

That relationship means QuoteHub advisers can arrange AIA cover. It does not change anything in this review, which is built from AIA's own documents and the Reserve Bank's register.

Limitations of this review

This review is built only from public documents, and some things sit outside what those documents support. It states no premium figures, because pricing depends on your age, health, occupation, smoking status, cover structure and any Vitality discount. Three gaps are recorded rather than guessed: the effective date of AIA's AA rating, the date of the Sovereign amalgamation, and feature-level product detail such as entry ages, waiting periods, benefit maxima and condition counts. Product details and claims figures were current at the dates shown and change without notice. The policy wording, not this page, governs any claim. Ratings were last re-verified against the RBNZ register and AIA's own disclosure, and QuoteHub re-verifies published ratings quarterly.

References

• AIA New Zealand, Financial strength rating, read 14 August 2026 (AA Fitch rating, Fitch scale, solvency at 31 March 2026)
• AIA New Zealand, About AIA, read 18 August 2026 (since 1981, AIA Group profile, 797,000 people protected, market-share claim attributed to FSC March 2025)
• AIA New Zealand, Claims, read 18 August 2026 (claims process, 0800 500 108, MyAIA lodgement, 91% of claims and $790.3m paid in calendar 2025)
• AIA New Zealand, Claims Compass press release, read 18 August 2026 ($829.6m paid in 2024 including GST, maturities and surrenders of $103.7m; mental health detail)
• AIA New Zealand, Claims Compass report, read 18 August 2026
• AIA New Zealand, AIA Vitality, read 18 August 2026 (programme structure, 10% starting discount, status levels, separate membership fee, ineligible products)
• AIA New Zealand, Vitality Premium Flex rules, read 18 August 2026 (annual adjustment by status, 20% maximum, 0% minimum)
• AIA New Zealand, Trauma insurance, read 18 August 2026 (three trauma products, built-in benefits, buy-back, multi-policy discount up to 15%)
• AIA New Zealand, Starter Plans, read 18 August 2026 (online purchase, basic life, rent or mortgage protection)
• AIA New Zealand, Policy wordings and enhancements, read 18 August 2026 (closed AIA and Sovereign ranges remain in place and are serviced by AIA)
• Reserve Bank of New Zealand, Register of licensed insurers, read 18 August 2026 (licence date and rating agency and grade for AIA, Asteron, Partners Life, Chubb Life, Fidelity Life)
• Insurance and Financial Services Ombudsman Scheme, participant search, read 8 September 2026

Disclaimer: This article is general information only and does not constitute personalised financial advice. Financial advice is provided by Craig Smith Business Services Limited, trading as Smiths Insurance & KiwiSaver, a licensed Financial Advice Provider (FSP712931). QuoteHub is a trading name. Insurance products are subject to underwriting, and terms, conditions, exclusions and stand-down periods apply. Features and figures were current at the dates above and are subject to change, so always check the current policy wording. For advice tailored to your circumstances, talk to a licensed financial adviser.

AIA at a glance

What AIA writes

Is AIA a fit for you?

The reasons to shortlist it, and the catches to check first. Every line below is read from a AIA document, linked with the date.

Check these before you choose

• Your Income Protection percentage. AIA's Income Protection page doesn't publish a standard percentage of income or a dollar cap — your insured amount depends on whether you choose Agreed Value, Indemnity or Loss of Earnings cover, and is set out in your schedule. (source, AIA Income Protection Insurance product page (aia.co.nz), read 16 September 2026)
• Which trauma product you're quoted. AIA sells three different trauma products — Critical Conditions, Progressive Care and Severe Trauma — each with its own policy wording, so confirm which one you're being offered. (source, Trauma Insurance overview page (aia.co.nz), read 16 September 2026)
• Your occupation class. Under AIA's Income Protection Agreed Value wording, the definition of 'totally disabled' depends on which of five occupation classes you're assigned in the schedule; occupation class five applies automatically if you've been unemployed for three months or more, or on unpaid leave for over 12 months, immediately before the disability. (source, AIA Living IP Agreed Value Policy Wording (1108 AL-IP version 5, effective 12 May 2026), read 16 September 2026)
• Whether Vitality applies to your policy. Not all AIA products qualify for the Vitality premium discount — for example, AIA states that 'AIA Cover for Life is not eligible for the AIA Vitality premium discount.' (source, AIA Health Insurance brochure (AIA New Zealand Limited), read 16 September 2026)
• Stand-down timing on your conditions. Some Critical Conditions aren't covered if they (or their symptoms) occur within 90 days of AIA receiving your application, and most conditions also require you to survive at least 14 days after first suffering them. (source, AIA Living Personal Critical Conditions Policy Wording (1105 AL-CC version 8, effective 12 May 2026), read 16 September 2026)

AIA could fit

If one or more of these look like your situation.

• Cover that never expires and can grow with you. AIA Living Life Cover has no cover expiry and lets you increase your sum assured after events like having a child, marrying or taking out a mortgage, without further medical underwriting, capped at the lower of 50% of your cover or $250,000 per event. (source, Life Cover product page (aia.co.nz), read 16 September 2026)
• A payout for a lesser diagnosis, not just the worst case. AIA's Critical Conditions cover makes partial as well as full payments — for example, Angioplasty (less than 3 vessels) and Carcinoma-in-situ each pay the lower of $50,000 or 10% of your sum assured. (source, AIA Living Personal Critical Conditions Policy Wording (1105 AL-CC version 8, effective 12 May 2026), read 16 September 2026)
• Rewarding healthy habits over time. AIA Vitality starts at a flat 10% premium discount, then moves with your status each year: up to +2% a year (maximum 20% discount) at Platinum, or down to a minimum of 0% at Bronze. (source, AIA Vitality Brochure, read 16 September 2026)
• Cancer-only cover instead of full health insurance. AIA Cancer Care is a stand-alone cancer-only health plan covering unlimited cancer surgery and up to $500,000 a year of cancer treatment costs, separate from AIA's broader Private Health plan. (source, AIA Health Insurance brochure (AIA New Zealand Limited), read 16 September 2026)
• Bundling multiple AIA policies. AIA's Multi-Benefit Discount saves up to 15% on premiums when you buy multiple eligible insurance policies, stacking with any AIA Vitality discount. (source, Life Cover product page (aia.co.nz), read 16 September 2026)

Compare more carefully

If any of these apply, it is worth a closer look at the rest of the panel.

• 90-day stand-down on some trauma conditions. There is no cover under AIA's Critical Conditions policy if you suffer one of the asterisked conditions (or its signs or symptoms) within the first 90 days after AIA receives your application. (source, AIA Living Personal Critical Conditions Policy Wording (1105 AL-CC version 8, effective 12 May 2026), read 16 September 2026)
• Suspending cover voids claims during that period. If you suspend AIA Living Life Cover (up to 12 months, e.g. for redundancy or parental leave), no benefit is payable for any claim event that occurs while cover is suspended. (source, AIA Living Life Personal Cover Policy Wording (1101 AL-LIFE version 5, effective 10 October 2023), read 16 September 2026)
• The Vitality discount isn't universal. AIA Cover for Life is not eligible for the AIA Vitality premium discount, and AIA notes that not all AIA insurance products and policies are eligible for premium discounts. (source, AIA Health Insurance brochure (AIA New Zealand Limited), read 16 September 2026)
• Income Protection's percentage isn't published upfront. AIA doesn't state a standard income-replacement percentage or monthly maximum for Living Income Protection on its product page — get the specific figures for your schedule from your adviser before comparing. (source, AIA Income Protection Insurance product page (aia.co.nz), read 16 September 2026)
• The cheaper mental-health option pays for less time. Choosing AIA's optional Mental Health Limitation lowers your premium but caps mental health claim payments to 2 years over the life of the policy. (source, AIA Income Protection Insurance product page (aia.co.nz), read 16 September 2026)

Waiting periods, limits and ages

The numbers worth checking before you compare, read from AIA’s own documents.

Life cover: $25,000 bereavement advance

AIA Living Life Cover pays a lump sum on death, with earlier payments available for terminal illness or bereavement support.

• Terminal illness benefit: an early payment is made where, in AIA's opinion, despite all reasonable medical treatment you are expected to live for no more than 12 months.
• Bereavement Support Benefit pays the lower of the life cover benefit, $15,000 if the life assured is the sole policy owner, or $25,000 if there is a surviving policy owner, to help with immediate costs such as funeral expenses.
• Special events increase facility: cover can be increased without further medical underwriting after events such as having a child, marriage, taking out a home loan or a salary increase — each increase is capped at the lower of 50% of the life cover benefit or $250,000, and total increases are capped at the lower of 100% of the life cover benefit or $750,000.
• Premium conversion facility: before age 65 you can convert all or part of your sum assured to a level premium structure without further medical underwriting.
• Cover can be suspended for up to 12 months (for example during parental leave or redundancy) and reinstated without further medical evidence.
• No benefit is payable for a claim event that occurs while cover is suspended (suspension can run up to 12 months).

Source: AIA Living Life Personal Cover Policy Wording (1101 AL-LIFE version 5, effective 10 October 2023), read 16 September 2026.

Trauma cover: Partial payments from 10%

AIA Living Critical Conditions pays a full or partial lump sum across a defined list of medical conditions, subject to stand-down periods.

• No cover applies if a listed ('*'-marked) condition, or its signs or symptoms, occurs within the first 90 days after AIA receives the application.
• Once cover is in force, most conditions require the life assured to survive at least 14 days after first suffering the condition; the Optional Total Permanent Disablement condition instead has a 90-day survival period.
• Two named partial-payment conditions — Angioplasty (less than 3 vessels) and Carcinoma-in-situ — pay the lower of $50,000 or 10% of the sum assured.
• The Built-in Children's Trauma Benefit covers a life assured's children from age 3 months to their 21st birthday, paying the lower of $50,000 or 50% of the sum assured.
• Life Cover Buyback Benefit: after an accelerated Critical Conditions claim, up to 100% of the accelerated benefit can be reinstated without further medical evidence, generally within 60 days of the claim payment (or after a 6- or 12-month survival period for specified conditions); only one buy-back applies per life assured per policy.
• Stand-down and survival periods: 90 days: no cover for '*'-marked conditions (or their symptoms) arising within 90 days of AIA receiving the application, 14 days: general survival period required after first suffering a covered condition, 90 days: survival period specifically for the Optional Total Permanent Disablement condition
• This is a high-level summary — the full condition definitions and complete partial-payment schedule are set out in Sections 22-23 of the policy wording.

Source: AIA Living Personal Critical Conditions Policy Wording (1105 AL-CC version 8, effective 12 May 2026), read 16 September 2026.

Income cover: Waits from 2 weeks to 2 years

AIA Living Income Protection pays a monthly benefit if illness or injury stops you working, on a basis set out in your schedule.

• Eligible entry age is 16 to 55 (or 60 if in a managerial position).
• Cover options: Agreed Value (amount fixed when cover is taken out), Indemnity (calculated at claim time), or Loss of Earnings (whichever of the two is higher).
• Waiting period options: 2, 4, 8, 13, 26, 52 or 104 weeks.
• Benefit period options: 1, 2 or 5 years, or to age 65 (age 70 for selected occupations).
• Optional Mental Health Limitation: reduces the premium but limits mental health claim payments to 2 years throughout the life of the policy; without it, AIA states there is no blanket mental health exclusion.
• Pregnancy Premium Waiver (built in): waives the premium for 6 consecutive months, at any stage between the second trimester and six months after the pregnancy finishes, while on maternity leave.
• Waiting period options: 2 weeks, 4 weeks, 8 weeks, 13 weeks, 26 weeks, 52 weeks, 104 weeks
• AIA does not publish a standard income-replacement percentage or an overall monthly dollar maximum on this page — the insured amount depends on the cover option chosen and is set out in your policy schedule.

Source: AIA Income Protection Insurance product page (aia.co.nz), read 16 September 2026.

Health cover: $500,000 a year of cancer cover

AIA sells two health products — Private Health (a range of medical conditions) and Cancer Care (cancer-only) — both underwritten with the figures below.

• No annual limit on surgery benefit claims (inpatient treatment costs including surgeon, anaesthetist, radiologist and hospital fees) on either plan.
• Private Health excess options and the premium discount each earns (as at 17 April 2025): nil 0%, $250 15%, $500 24%, $750 30%, $1,000 40%, $2,000 55%, $4,000 70%, $10,000 77%.
• Cancer treatment (chemotherapy/immunotherapy drugs, consultations, tests, diagnostic imaging, breast reconstruction) is covered up to $500,000 per policy year on both Private Health and Cancer Care.
• Mental health support is covered up to $2,500 per policy year; minor surgical procedures performed by a GP are covered up to $3,000 per policy year.
• Overseas treatment: voluntary treatment in Australia is covered at 100% of the reasonable New Zealand charges; other approved overseas treatment is covered at 85% or 100% of reasonable New Zealand charges depending on the scenario, with a $30,000-per-policy-year cap where treatment is not available in New Zealand.
• AIA Vitality can be added to eligible Health insurance for a monthly membership fee, giving an initial 10% discount on eligible premiums in the first year.
• Excess discounts are shown as at 17 April 2025 and are subject to change; this brochure is a summary only — full terms, conditions, limits and exclusions are in the policy wording.

Source: AIA Health Insurance brochure (AIA New Zealand Limited), read 16 September 2026.

What it costs

How AIA compares on financial strength

Financial strength is the one comparable published fact about an insurer. Every grade below is the insurer's own disclosure for the named licensed entity, linked and dated. A rating belongs to that entity, not to a brand or a product name.

The whole register, every insurer with its legal entity, owner, grade, effective date and source, is a dated dataset you can download: nz-insurer-financial-strength-2026-09-17.csv.

What AIA publishes

The wording is the contract. These are AIA's own documents, each with the date we read it.

AIA plans

Questions about AIA

Who is AIA?

The only New Zealand life insurer whose wellness programme discounts the premium, and the largest by policies in force. Also writes private health cover, in two tiers, under the same licence. Part of the listed AIA Group. The licensed entity behind the policies is AIA New Zealand Limited.

Who owns AIA?

AIA Group Limited (Hong Kong listed). Ownership matters because it decides who carries the risk behind a claim, not how a claim is assessed.

Is AIA financially strong?

AIA New Zealand Limited holds a AA rating from Fitch, read from the insurer's own disclosure on 14 Aug 2026. A rating is an independent view of the ability to pay claims. It says nothing about what a policy covers or what it costs.

Can I buy AIA cover without an adviser?

Both routes exist. You can go direct, or use a licensed adviser who can put AIA next to the other insurers on the same set of details.

What does AIA cover?

Life cover, Trauma cover, Income protection, TPD, Private health cover. What each of those pays, and what it excludes, is set by the policy wording rather than by the marketing page, which is why the documents are listed on this page with the date we read them.

Where can I read AIA's policy wording?

We link 2 of AIA's own documents on this page, each with the date it was read. The wording is the contract; a brochure is not.

Is AIA the cheapest?

No insurer is cheapest for everyone. Price depends on your age, your health and an underwriting decision that has not happened yet, so a comparison that leads with price compares the wrong thing. The published limits and definitions are what can be compared, and they are on this page.

How does AIA compare with the other insurers?

The financial strength table on this page puts every insurer we compare side by side, with the agency, the grade and the date. The benefit limits sit on the comparison page, and a licensed adviser can run your own details across the panel.

Does QuoteHub work with AIA?

Yes. AIA is on the QuoteHub panel, so a licensed adviser can quote them, compare them against the rest of the panel and arrange the cover. The full panel is published on the disclosure page rather than implied.

What should I check before applying to AIA?

The stand-down period, the exclusions that apply to your own history, whether the premium is stepped or level, and what happens at renewal. All four are in the wording and none of them is in a price.

What plans does AIA offer?

AIA Living. Each has its own page here setting out what it pays and what it does not.

Does AIA cover pre-existing conditions?

Not automatically. An existing condition is either excluded, loaded or accepted on its own terms, and that decision is made at underwriting on your own history. What matters is what you disclose, because non-disclosure is the most common reason a claim is declined.

Are AIA premiums stepped or level?

Both structures exist in the New Zealand market. Stepped rises with your age each year and costs less at the start; level holds a rate to a chosen age and costs more early and less later. Which is cheaper over the life of the policy depends on how long you keep it, not on the insurer.

Can I move to AIA from another insurer?

Yes, but moving means new underwriting, so anything that has happened to your health since you took the old policy is assessed again. Never cancel the old cover until the new policy is issued and you have read what it excludes.

Does AIA pay claims quickly?

Claims-paid percentages and payment times are published by some New Zealand insurers and not by others, on different bases, which is why we publish the figure only where the insurer publishes it with a period. Where we hold one it appears on the review page for that insurer.

Is AIA regulated in New Zealand?

Yes. A licensed insurer is regulated by the Reserve Bank of New Zealand, and the advice about a policy is regulated separately by the Financial Markets Authority. Those are two different licences and both matter.

What happens to my AIA policy if the company is sold?

A policy is a contract with the licensed entity, so it continues on its terms if ownership changes. New Zealand has seen several life books change hands, and the practical effect for existing policyholders is usually the servicing brand rather than the cover.

How much does AIA cover cost?

We do not publish a price for an insurer on this page. A premium depends on age, health, smoking status, occupation, the cover amount and an underwriting decision, so a single figure would be wrong for almost everyone reading it.

Where can I get advice about AIA?

A licensed financial adviser can compare it against the rest of the panel on your own details and tell you where it suits you and where it does not. QuoteHub is a trading name of a licensed Financial Advice Provider and the review is free.

How do I make a complaint about AIA?

Raise it with the insurer first. If it is not resolved you can take it to the insurer's dispute resolution scheme at no cost. QuoteHub's own scheme is the Financial Dispute Resolution Service.

Where to go next

AIA on this site

• AIA Critical Conditions Cover
• AIA Living
• AIA Specialist and Testing Support
• AIA Vitality

Reviews and comparisons

• The nine life insurers compared, in order
• Partners Life vs AIA

Other life insurers

• Partners Life
• Chubb Life NZ
• Fidelity Life
• Asteron Life
• Momentum Life
• Southern Cross Life
• Pinnacle Life
• OneChoice
• AA Life
• Resolution Life NZ
• NZ Seniors
• Booster Life
• Golden Insurance
• MAS

Health insurers

• Southern Cross Health Society
• nib nz
• UniMed
• Partners Life
• All health insurers

Compare and calculate

• Compare NZ insurers side by side
• Life insurance calculator
• Every insurer financial strength rating
• All calculators

Cover explained

• Life insurance in New Zealand
• Trauma cover in New Zealand
• Income protection in New Zealand
• Mortgage protection in New Zealand

What cover costs

• What life insurance costs in NZ
• Stepped versus level premiums
• The life insurers, in the order we would look at them
• Every published insurance number, with its source

Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, Ongoing Protection.