What is the AIA Vitality $500 Silver Status Reward?
AIA have launched an exciting new initiative to reward policyholders with a $500 cash payment if they achieve Vitality Silver status within the first 6 months of taking out an AIA Priority Protection insurance policy with Vitality or adding a Vitality membership to an existing policy.
The initiative has been launched to celebrate the 10 year anniversary of the AIA Vitality health and wellbeing program in Australia.
AIA Vitality achievements over the last 10 years
In the decade since its launch in Australia in 2014, AIA Vitality members have:
- Taken more than 420 billion steps
- Claimed 30,336 flights for cashbacks worth $10.9 million
- Spent 716,228 Shopping Reward Vouchers worth $38.7 million
- Had 92,624 AIA Vitality Health Checks
- Completed 1,590,530 Health and Wellbeing Assessments
- Received 4,071,896 Active Rewards worth $21.2 million
- Enjoyed 275,535 Hoyts discounted movie vouchers worth $3.3 million
- Had 3,910,965 gym visits to Vitality partner gyms
AIA Vitality has also had a measurable effect on the health of its members:
- 10% of members with an overweight BMI moved into the heathy range within 2 years
- 50% of members experiencing mental health distress moved into the low distress range within 2 years
Why is AIA offering the $500 cash reward?
Research has shown that if new members engage with the AIA Vitality health and wellbeing program early, they are likely to get into a rhythm and stay engaged.
The $500 cash reward for achieving Silver status within 6 months helps incentivise early involvement and generate long term outcomes.
Not only will members receive rewards and premium discounts if they are active under the Vitality program, they will be encouraged to make better lifestyle decisions and reduce their likelihood of contracting illness or disease.
Increased engagement with the Vitality program will therefore benefit AIA by leading to fewer claims on its policies.
How easy is it to achieve Silver Vitality Status?
All Vitality members initially start at Bronze status. In order to achieve Silver status you need to earn 10,000 points.
AIA have provided a Fast Start guide which shows how easily Silver status can be achieved if you download the AIA Vitality App and do the following:
- Complete the AIA Vitality Age Assessment – 1,500 points
- Complete the Non smokers declaration – 1,000 points
- Complete the Skin Self-Examination – 1,000 points
- Complete the Financial Wellbeing assessment – 250 points
- Complete the AIA Vitality Health Check at participating chemists – up to 7,000 points
This is without considering the additional points which can be earned through steps and gym visits.
Once Silver status is achieved within 6 months you will be eligible to receive:
- A $500 Silver Status reward payment
- A $20 shopping reward
- 20% cashback on eligible Virgin Australia flights
- 20% off endota spa e-Gift cards
- Plus many more rewards and benefits
From here you can progress to Gold or Platinum status to receive even more benefits.
Who is eligible to receive the $500 cash reward?
To be eligible to receive the $500 payment you need to:
- Purchase a new AIA Priority Protection policy for Life, TPD, Trauma or Income Protection insurance after 1st April 2024
- Six months after the start of the policy have achieved Silver status on the Vitality membership attached to the policy
The Vitality membership attached to the policy can be:
- A new Vitality membership taken out with the AIA Priority Protection policy
- An existing Vitality membership attached to an existing AIA Health Insurance policy
- An existing Vitality membership under a Commonwealth Bank or other AIA corporate partner membership arrangement
Both the policy and the Vitality membership must be in force and fully paid up at the end of the six month period. Payment will made into the bank account registered to the Vitality membership.
How do you take out an AIA Priority Protection policy?
AIA Priority Protection policies can only be distributed by authorised representatives of an Australian Financial Services Licensee under either general or personal advice. These policies are not available direct from the insurer.
Quotes for AIA Priority Protection policies with Vitality attached can be obtained using the Insurance Watch Compare Quotes Online service and we can assist you to apply via a telephone, online or paper application.
You can also use the Insurance Watch website to learn more about the different types of insurance – Life, TPD, Trauma and Income Protection – and calculate how much cover you may need.
Note that AIA requires a minimum annual premium of $540 before a Vitality membership can be added to a policy. Unless the level of cover you enter into our online comparison tool generates a minimum premium above this you will not be able to see AIA policies which include the Vitality option. The total minimum annual outlay required will therefore be $678 i.e. $540 plus $138.
If you are buying your insurance policy through a self managed super fund (SMSF), or via a super rollover from an existing super fund, you will not be able to pay for the annual Vitality fee of $138 using money from your super fund. This fee will need to be paid personally.
The online Insurance Watch Compare Quotes service is designed for consumers who are only looking for general advice and are happy to determine for themselves if a policy is appropriate for their circumstances.
Personal advice, which considers your needs, objectives and financial situation, is available from an Insurance Watch adviser if you complete our online Fact Find and supply details about your personal circumstances.
What if you already have an AIA Priority Protection policy but not a Vitality membership?
You can also participate in the Silver status reward offer if you have an AIA Priority Protection policy and have not previously had a Vitality membership.
You can add Vitality to your current policy at a cost of $11.50 a month or $138 a year and receive an initial discount on your Life/TPD/Trauma policy of 12.5% or an initial discount of 7.5% on your Income protection policy.
You will then be eligible to receive a $500 cashback payment if you achieve Silver status within 6 months of adding your Vitality membership.
How do you add Vitality to an existing policy?
If you have an existing AIA Priority Protection policy and would like to add a Vitality membership you can speak to your existing insurance adviser or request help from Insurance Watch by providing your details at Contact Us.
Provided that you have determined that adding a Vitality membership is appropriate to your situation, Insurance Watch can assist you with a Vitality application on a general advice basis. Personal advice and a review of your insurance covers is also available on request.
Who is not eligible for the cash reward?
If any of the following applies to you, it means you will not be eligible for this offer:
- You already had an AIA Priority Protection policy with Vitality attached prior to the commencement of this offer on 1st April 2024.
- You have at any time in the past had a Vitality membership attached to an AIA Priority Protection policy and cancelled it (even if you rejoin Vitality after 1st April 2024 you will not be eligible for the offer).
- You are an AIA Vitality Starter member (to be eligible for the offer you will need to extend your membership to a full Vitality membership under a new AIA Priority Protection policy).
For full offer details refer to AIA Vitality Silver Status Reward – Member Terms and Conditions
Full Disclosure
Distributors of AIA Priority Protection policies such as Insurance Watch will receive a $500 reward if Silver status is achieved within the relevant six month period by one of their customers (this is in addition to standard commissions). This payment is to incentivise distributors to provide support to Vitality members and assist them in their quest to achieve Silver status.
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