Guide to get full access AIA Vitality through your Super

LLZCS on 17/04/2019 - 15:00
Last edited 17/04/2019 - 15:33 by 1 other user

Hey all,

Now that RAC is for WA residents only and RACQ is only for QLD residents, it's now worth investigating a good AIA policy. A little known trick is that you can get combined Life Insurance and TPD/Income Insurance issued by AIA Vitality which is paid directly from your Superannuation account — the majority of Super accounts will qualify.

I, for example pay around $300 a year including a 15% superannuation offset and this comes straight out of my Superannuation. I get Life Insurance and Income Insurance up until the age of 70. To access the full AIA Vitality program, the fee is $10 a month paid yearly (so $120 a year). The $300 is paid through super and the $120 a year is paid through your credit card.

$420 a year is very similar to the RAC prices, and as a bonus you also get income insurance bundled. (You have to Bundle Life + Income/TPD).

You can only get an AIA Policy paid through your super if it is through a financial planner. It involves more admin-work compared to signing up to RAC, for example, but is well worth the benefits.

Contact your financial planner to sign up to a policy.

Cheers

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AIA Vitality

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  Bonbi on 17/04/2019 - 15:38

  $420 a year is very similar to the RAC prices

  I was paying around $17/month for income insurance with RACQ (equates to roughly $200 a year).

  Luckily my gym have offered the 50% for a few extra months then 35% off indefinitely.

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    LZCS on 17/04/2019 - 15:45

    Nice one, it really depends what you want in your circumstances :)

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  ozzieworm on 17/04/2019 - 21:31

  I paid ~$180/year for access to AIA through rac WA.

  I too get 50% off until July then 35% after that at virgin gym.

  That's equivalent to around 2 years before you break even with this bargain. I know I won't be going to virgin in 2 years time so this deal is not that good.

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    LZCS on 17/04/2019 - 23:49

    If you're just in it for the gym, fair enough. But don't forget the shopping vouchers worth 650 a year if you reach platinum. Additionally, you get 50 percent off the base fare of virgin flights plus weekly $5 shopping vouchers. Given RAC is no longer attainable for non WA residents, and they you get a pretty good insurance policy for life as well as AIA for life, I think this is a pretty smart choice. Don't forget the 300 is paid through super so you have better cash flow in the shorter term.

    To me, it's a no brainer given the above structure.

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  faze on 18/04/2019 - 22:45

  I decided to get income protection which is tax deductible (30% offset v 15%)