Based on over 996 anonymous employee ratings, AIA Group receives a 3.8 out of 5 star rating. 64 percent of employees would suggest AIA Group to a friend, and 63 percent are optimistic about the company’s future. Over the last 12 months, this rating has remained consistent.
Is AIA a good insurer?
Overall, I found AIA to be extremely pleasant to work with throughout the claims process, and they were very fair in their assessment of the claim. For the past four years, I’ve had AIA Life Insurance, TPD (Total and Permanent Disability), and Income Protection. “I like how simple the application process is, and how AIA Vitality provides a discount.”
Is AIA more expensive?
AIA offers a number of healthcare advantages in addition to the typical features included in most Integrated Shield Plans. It may, for example, provide a pre-authorization form for non-emergency hospital admissions so that you do not have to pay out-of-pocket at the hospital. It also offers S$12 on-demand video consultations with WhiteCoat. Finally, with AIA’s Medix Personal Medical Case Management, you can access aid and advice from over 4,000 global professionals to help you adapt therapies for serious disorders.
What is the Cost?
AIA’s health insurance premiums range from 20% less than the national average to 30% more than the national average, with most people paying more than the national average regardless of age. However, AIA does provide certain cost-cutting options. For example, if you are a member of their Vitality Programme, you can get 20% off consultation fees at any participating AIA healthcare partner visit, as well as 15% off future premiums.
Who is AIA insurance owned by?
AIA Australia is part of the AIA Group, Asia’s largest independent publicly traded pan-Asian life insurance company, with operations in 18 Asian regions. For more than a century, AIA has served millions of people and generations of families throughout the Asia-Pacific region. The first Australian office opened on St Kilda Road in Melbourne in 1972. We’ve grown quite a bit since then. We now have offices all around Australia, and our dedicated and passionate team helps over 3.8 million Australians with their life and health insurance needs. Our strong partnering mindset and competence, quality product suite, and emerging life, health, and wellbeing proposition have all contributed to our success.
Should I get AIA Vitality?
If you meet the following conditions, the AIA Vitality is definitely worth your money in the long run:
- You already have an AIA insurance policy (or if you are buying an insurance policy that you need)
It will also be worthwhile for individuals considering getting a Fitness First membership in the first place, as you will save an average of $38 per month on your subscription.
This will be handy if you are a frequent client of Grab, Cold Storage, or Starbucks.
Otherwise, given your lifestyle (i.e., not being able to meet the weekly points) and the hidden costs of AIA Vitality, it is not advisable for you to join the plan.
Are there any tips for AIA Vitality members who want to get the most out of their plan?
What is AIA good for?
The AIA Secure Flexi Term life insurance plan protects you from death, terminal illness, and terminal cancer. A minimum of $500,000.00 is guaranteed.
You can choose between terms of 5 to 30 years, or until you’re 65, 75, or 100 years old. It’s worth noting that if you choose a term that lasts until you’re 100, you’ll need a minimum sum assured of $1 million.
After your term is complete, you are guaranteed renewal of the plan up to the age of 101, regardless of your health, making it one of the most age and renewability secure term insurance policies available.
Your rates will remain the same for one coverage period and then be revised following each renewal, as is customary with term plans.
If you wish to switch to an AIA whole life plan, endowment plan, or investment-linked policy later, you won’t have to go through any medical underwriting.
- Extend your insurance to 32 early and 29 intermediate critical diseases, as well as five specific conditions, with the Early Critical Cover rider.
- Rider for Total and Permanent Disability Covers you if you become totally and permanently disabled before you reach the age of 70.
- Premium Waiver rider – Allows you to avoid paying premiums if you are diagnosed with a serious illness or become disabled.
Premium for a 30-year-old non-smoking guy with a $500,000 sum assured for 20 years is $28.47 per month.
Is AIA Prudential?
Cornelius Vander Starr established what was then known as American Asiatic Underwriters in Shanghai, China, on December 19, 1919. (later American International Underwriters). Starr’s company eventually grew to encompass the entire globe. After the Japanese invasion of China on 21 January 1939 and the communist takeover of mainland China on 5 April 1949, Starr shifted his headquarters from Shanghai to New York City, and the Chinese AIA became a subsidiary of the New York-based American International Group (AIG).
To decrease its debt by US$25 billion, AIG sold preferred stock interests in two newly formed foreign life insurance companies, American International Assurance Company Limited (AIA) and American Life Insurance Company (ALICO), to the Federal Reserve Bank of New York on December 4, 2009.
On 3 April 2010, AIA proposed to be listed on the Hong Kong Stock Exchange and the Securities and Futures Commission. On March 2, 2010, Prudential PLC, a UK-based financial services and securities firm, announced that it will purchase AIA for $35.5 billion. After the deal fell through, AIA went public in October 2010, raising HK$159.08 billion (US$20.51 billion), making it the world’s third largest IPO ever.
AIA purchased a 92.3 percent share in Sri Lankan insurer Aviva NDB Insurance from British insurer Aviva and Sri Lanka’s National Development Bank on September 11, 2012. (NDB). NDB, one of Sri Lanka’s leading financial conglomerates with a statewide bank branch network, also signed an exclusive 20-year bancassurance agreement with AIA.
AIA purchased ING Group’s Malaysian insurance subsidiaries for 1.336 billion (US$1.73 billion) in cash on October 7, 2012.
Since June 2, 2013, AIA and Citibank have had an exclusive bancassurance arrangement that covers 11 AIA markets in Asia-Pacific, including Hong Kong, mainland China, South Korea, Singapore, Thailand, Malaysia, Indonesia, the Philippines, Vietnam, Australia, and India.
Is AIA and AIG the same?
18 DECEMBER 2012, HONG KONG American International Group Inc. (“AIG”) has informed AIA Group Limited (“AIA” or the “Company”) that it has engaged into a putting agreement to sell all of its ordinary shares of AIA at a price of HK$30.30 per share.