AIA Living Review NZ
AIA Living is AIA's current umbrella life insurance policy in New Zealand: a container an adviser fills with individual covers rather than a fixed package. There is no product called an AIA Real Life Plan in 2026. Life Cover carries no set product maximum, Critical Conditions Cover reaches $2 million from age 16, and the newer Specialist and Testing Support and Mortgage, Income or Rent Cover benefits extend the suite into health-adjacent and income-replacement territory.
Key facts
- Life Cover entry ages
- 10 to 70 inclusive (source, retrieved 8 September 2026)
- Life Cover maximum
- No set product maximum; sum insured is limited by financial justification at underwriting (source, retrieved 8 September 2026)
- Life Cover early payments
- Up to $25,000 paid early for funeral and immediate costs, up to $20,000 to assist with rehabilitation (source, retrieved 8 September 2026)
- Critical Conditions Cover entry ages
- 3 months to 70 (source, retrieved 8 September 2026)
- Critical Conditions Cover maximum
- $250,000 for ages 3 months to 15, $2,000,000 from age 16 (source, retrieved 8 September 2026)
- Specialist and Testing Support maximum
- $10,000 a policy year for specialist consultations, $100,000 a policy year for diagnostic imaging and tests (source, retrieved 8 September 2026)
- Specialist and Testing Support effective date
- 1 October 2025 (source, retrieved 8 September 2026)
- Mortgage, Income or Rent Cover maximum
- $20,000 a month (source, retrieved 8 September 2026)
- Mortgage, Income or Rent Cover launch
- 31 July 2025, replacing the previous Mortgage and Income Protection (MIP) product (source, retrieved 8 September 2026)
- AIA Vitality discount
- Initial 10% premium discount, moving to a range set by Vitality Status from year two (see the AIA Vitality plan page for the full mechanism) (source, retrieved 8 September 2026)
- Financial strength rating
- AA (Very Strong), Fitch Ratings (source, retrieved 8 September 2026)
What it costs
| Age | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|
| 25 | $28.97 | $40.93 | $68.18 |
| 30 | $25.79 | $35.94 | $59.07 |
| 35 | $24.96 | $34.64 | $56.71 |
| 40 | $29.61 | $41.93 | $70.02 |
| 45 | $41.06 | $59.88 | $102.79 |
| 50 | $65.57 | $98.32 | $172.99 |
| 55 | $113.13 | $172.90 | $309.18 |
| 60 | $205.06 | $317.07 | $572.44 |
| 65 | $404.94 | $630.52 | $1,144.83 |
Life Cover carries no set maximum while Critical Conditions Cover is capped at $2,000,000 from age 16, and the table below sets out the published entry ages and maximums across the AIA Living suite (AIA product pages, retrieved 8 September 2026).
| Cover | Entry ages | Maximum |
|---|---|---|
| Life Cover | 10 to 70 inclusive (source, retrieved 8 September 2026) | No set maximum, subject to financial justification (source, retrieved 8 September 2026) |
| Critical Conditions Cover | 3 months to 70 (source, retrieved 8 September 2026) | $250,000 (age 3 months to 15); $2,000,000 (from age 16) (source, retrieved 8 September 2026) |
| Specialist and Testing Support | Not published in the public product page (source, retrieved 8 September 2026) | $10,000/year specialist consultations; $100,000/year imaging and tests (source, retrieved 8 September 2026) |
| Mortgage, Income or Rent Cover | Not published in the public product page (source, retrieved 8 September 2026) | $20,000 a month (source, retrieved 8 September 2026) |
AIA Vitality's premium discount starts at 10% in year one and then moves with your Vitality Status, up to a published maximum of 20%, as the table below sets out (AIA Vitality Premium Flex, aia.co.nz, retrieved 8 September 2026).
| Vitality Status maintained | Annual movement in your discount |
|---|---|
| Bronze (0 to 9,999 points) | Down up to 2.0 percentage points a year, to a floor of 0% (source, retrieved 8 September 2026) |
| Silver (10,000 to 19,999 points) | Down up to 1.0 percentage point a year, to a floor of 0% (source, retrieved 8 September 2026) |
| Gold (20,000 to 29,999 points) | Discount held at its current level (source, retrieved 8 September 2026) |
| Platinum (30,000+ points) | Up up to 2.0 percentage points a year, to a ceiling of 20% (source, retrieved 8 September 2026) |
Entry ages
| Cover | Entry ages |
|---|---|
| Life Cover | 10 to 70 (source, retrieved 8 September 2026) |
| Critical Conditions Cover | Minimum entry is 3 months old. (source, retrieved 8 September 2026) |
| Specialist and Testing Support | Not published in the public product page. (source, retrieved 8 September 2026) |
| Mortgage, Income or Rent Cover | Not published in the public product page. (source, retrieved 8 September 2026) |
Waiting periods
| Cover | Waiting period |
|---|---|
| Life Cover, Critical Conditions Cover | Not applicable (source, retrieved 8 September 2026) |
| Mortgage, Income or Rent Cover | Set at application (source, retrieved 8 September 2026) |
Exclusions
- AIA has not published a single consolidated exclusion list across the AIA Living suite; exclusions sit in each benefit's own appendix. (source, retrieved 8 September 2026)
- There is no AIA product called a Real Life Plan in 2026. Any reference to that name belongs to AIA's legacy Real range. (source, retrieved 8 September 2026)
Questions about AIA Living
Is AIA Real Life Plan still available in 2026?
No. There is no AIA product called a Real Life Plan in 2026. That name belongs to AIA's legacy Real range, which AIA's own wordings label as legacy. The current umbrella product is AIA Living (QuoteHub review of the AIA Living suite, retrieved 8 September 2026).
What does AIA Living cover?
AIA Living is an umbrella policy under which you select individual covers: Life Cover, Critical Conditions Cover, Progressive Care, Specialist and Testing Support, and Mortgage, Income or Rent Cover, each set out in its own appendix (AIA product pages, retrieved 8 September 2026).
What is the maximum for AIA Life Cover?
AIA Life Cover has no set product maximum. The real constraint is financial justification at underwriting, AIA's assessment of whether the sum insured is proportionate to your income, debts and dependants (AIA Life Cover product page, retrieved 8 September 2026).
How much does AIA Critical Conditions Cover pay?
Up to $2,000,000 from age 16, or $250,000 for a child aged 3 months to 15. Entry runs from 3 months old to age 70 (AIA Living review, retrieved 8 September 2026).
What is AIA Specialist and Testing Support?
A health-adjacent benefit inside AIA Living that pays up to $10,000 a policy year for specialist consultations and $100,000 a year for diagnostic imaging and tests, effective from 1 October 2025 (AIA Specialist and Testing Support page, retrieved 8 September 2026).
What replaced AIA's Mortgage and Income Protection product?
AIA closed its Mortgage and Income Protection (MIP) product on 31 July 2025 and introduced Mortgage, Income or Rent Cover, which pays up to $20,000 a month to replace income or help with mortgage or rent (AIA, Insurance for today, retrieved 8 September 2026).
Is AIA Living underwritten or is it a fixed package?
It is not a fixed package. AIA Living is a container that an adviser fills benefit by benefit, so what you hold depends on which covers you and your adviser select, not a single defined product shape (QuoteHub AIA Living review, retrieved 8 September 2026).
What is AIA's financial strength rating?
AIA New Zealand Limited holds an AA (Very Strong) insurer financial strength rating from Fitch Ratings (AIA financial strength disclosure, retrieved 8 September 2026).
Does AIA Living include a Vitality discount?
Eligible AIA Living covers can be taken with AIA Vitality, which gives an initial 10% premium discount in year one, then moves with your Vitality Status. See the AIA Vitality page on this site for the full earn rules and maximum discount.
Who owns AIA life insurance in New Zealand?
AIA New Zealand Limited is part of the AIA Group, a pan-Asian life insurance group with operations across 15 markets and total assets over US$107.9 billion group-wide, and describes itself as New Zealand's largest life insurer (AIA product pages, retrieved 8 September 2026).
Adviser's view
QuoteHub's read on AIA Living is that it rewards a buyer who works through the covers deliberately with an adviser rather than one comparing a single fixed price against a competitor's package. The no-maximum Life Cover and the newer Specialist and Testing Support benefit are the two elements most worth checking against what you already hold.
Documents
- AIA Life Cover product page, retrieved 8 September 2026
- AIA Critical Conditions product page, retrieved 8 September 2026
- AIA Specialist and Testing Support product page, retrieved 8 September 2026
- AIA Mortgage, Income or Rent Cover product page, retrieved 8 September 2026
- AIA financial strength rating disclosure, retrieved 8 September 2026
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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.
Cite this page QuoteHub NZ (2026). AIA Living Review NZ: Benefits, Limits and What It Costs. www.quotehub.co.nz/life-insurance/aia/living. Updated 2026-09-08.
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