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AIA NZ health insurance - for healthier, longer, better lives

As part of one of the largest insurance groups in the world, AIA NZ offers excellent, more affordable personal and business insurance to suit all Kiwis.

11 min to read

Backed by the Asia-Pacific AIA Group - one of the largest insurers in the world - AIA NZ knows that “good health is invaluable.” The company believes in “contributing to the wellbeing of people in every community” and encourages policyholders to take charge of their own health, too.

AIA provides insurance products specifically tailored towards the Kiwi lifestyle and promises to be there for customers, every day.

 
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Learn more about different types of insurance from a licenced financial adviser and see what's best for your circumstances.

Health | Life | Trauma | Total and Permanent Disability | Income Protection

In this AIA NZ private health insurance review, we’ll look at plans exclusively offered through Policywise.

AIA NZ Health Insurance - a brief company overview

The AIA Group began selling insurance in 1919 - over a hundred years ago - in Shanghai, China. Expanding into the New Zealand market in 1981, AIA NZ enjoyed rapid, constant growth and can now count more than 800,000 Kiwi policyholders. AIA NZ paid out 93% of claims in 2022.

Key facts about AIA NZ
Founded: 1981
Location: Auckland, New Zealand
Premium revenue (revenue from policy premiums): $1,051 million (31 December 2023)
Accumulated claims paid: $646.4 million (1 January to 31 December 2022)
Claims approved: 93%
Solvency Margin (assets after debts): $150.1 million (31 December 2023)
Solvency ratio (cash flow sufficiency): 115% (31 December 2023)
Financial strength rating: AA (Very strong) Fitch Ratings

AIA NZ health insurance plans

Private Health

AIA NZ’s most comprehensive cover is Private Health. This premium surgical and healthcare insurance has you and your family covered with extremely generous policy benefits. The limits listed below are for each life assured listed in your policy.

Benefit highlights include:

  • Unlimited surgical costs
  • Cancer cover up to $500,000 (includes Pharmac and non-Pharmac-funded drugs)
  • Hospitalisation costs - $500,000
  • Diagnostic testing - $200,000 per year
  • Overseas treatment - $30,000 if treatment is not available in New Zealand
  • Loyalty benefits include $7,500 for bariatric surgery or breast reduction.

AIA NZ Private Health also covers additional support benefits, including:

  • $2,500 mental health support benefit
  • Public hospital cash grant up to $300 per day
  • Obstetric care allowance
  • Grieving parent benefit.

Choosing a higher excess ($250, $500, $750, $1,000, $2,000, or $4,000) means you can reduce your premiums by up to 70%.

Private Health Plus

With the Private Health Plus add-on, you can upgrade your Private Health plan. This provides additional support for specialist consultations, testing, and reproductive health.

Benefit
Specialists and tests Additional testing not related to treatment or surgery if referred by a GP or specialist

Up to $100,000 per year for testing

Plus $10,000 for specialist consults

Reproductive Health Pregnancy, maternity, and infertility allowance

$1,500 per year (stand-down period 2 years)

Health Screening Various health screening tests, including bowel, skin, heart, cervical, prostate, hearing, and vision

$500 (after 3 years) or $750 (after 2 years for AIA Vitality members)

AIA Vitality

This is a brilliant health and wellbeing programme open to AIA NZ insurance policyholders. AIA Vitality offers science-backed support to help you make better lifestyle choices for your health and wellbeing.

Additional benefits include discounts on gym memberships, Garmin, Fitbit, and Samsung fitness devices, as well as Airpoints rewards and Countdown gift cards.

There is a monthly membership fee of $11.50. You can learn more about the AIA Vitality programme here.

Making a claim

It’s simple to make a claim with AIA. You can register with the myAIA online portal, complete your claim form, and submit your invoices and receipts there. It usually takes around ten minutes to lodge a claim, and AIA promises to process it within three to five working days.

We recommend securing pre-approval for your claim before incurring any expenses. For some procedures, this step is compulsory.

If you’re a Policywise client, we can take care of all the paperwork for you.

AIA is proud of a few special features

Unlike most health insurance policies, AIA Private Health cover has:

  • No annual limit on claims for surgeries (cancer- and non-cancer related)
  • $500,000 extensive cancer cover for diagnosis, treatment, and recovery
  • Generous overseas treatment options
  • Freedom to choose your own medical provider
  • Enhancement passback - future policy improvements automatically apply to your policy
  • You earn Airpoints dollars on your premium payments.

Things to note about AIA policies

  • You have a 15-day ‘free look’ period - we’ll refund your premiums if you’re unsatisfied.
  • Pre-existing conditions may not be covered, depending on your policy type.
  • You can reduce your premiums by increasing the excess payable.

The above is just a brief summary. Additional terms and conditions may apply.

You can wade through all the fine print in the policy documents and full terms and conditions here, or simply check in with one of the experts at Policywise, and they’ll help you choose the right product for your situation.

Caring for your employees and your business

Offering your employees a decent health care plan is a great way to show you really value them. It’s a given that employee health insurance:

  • Encourages motivation and productivity
  • Improves the wellbeing of your team
  • Means fewer days off for severe illness.

And your employees will be more focused on the job because they’re not worrying about waiting for medical treatment, taking time off work, or mounting medical bills. Employee health insurance is a great addition to your business toolbox. In fact, Seek calls it the No.1 Perk that will make a job candidate choose you over your competitor.

And that’s why AIA offers options, such as Business and Rural Insurance, to cover your employees throughout New Zealand.

Do you need health insurance in New Zealand?

Wait times for essential and elective surgery are increasing each year. These delays can lead to much poorer health outcomes as well as increased stress and frustration. Health insurance can also pay for expensive treatments that are not publicly funded in New Zealand.

How much can you expect to pay privately for some common treatments in New Zealand?

Common surgeries Private treatment costs (if you don’t have health insurance)
Single-valve heart operation Up to $80,000
Total hip replacement Up to $30,000
Total knee replacement Up to $30,000
Spinal fusion Up to $60,000
Cataracts $4,500 each
Mastectomy Up to $30,000
Heart bypass Up to $70,000

Good health is priceless. AIA NZ private health insurance can help you:

  • Avoid lengthy wait times for major surgery
  • Access expensive, non-Pharmac-funded drugs
  • Receive better aftercare support and rehabilitation
  • Reduce stress and uncertainty in times of illness
  • Get back on your feet faster so you can keep doing the things you love.

Why choose Policywise?

Policywise is a 100% free service which tells you which health, life, and disability insurance provider best fits your needs. We provide quotes and a comprehensive comparison of all leading providers - such as AIA - as well as a simple, one-page summary clearly stating how our findings dovetail with your situation.

Not all health insurance policies are the same. Policywise can help you sort out the duds, avoid the lemons, understand the fine print and exclusions, and get the best insurance for you and your family.

We’ll answer all your questions, provide fast, easy-to-understand policy comparisons and quotes, and take care of the sign-up process. We can also take care of lodging any claims on your behalf.

Now is the time to think about investing in private health insurance cover that will give you or someone you love the most outstanding support and treatment possible in the event of illness. How about having a 5-minute phone conversation with us? Together, we can find the ultimate path towards securing your financial and physical health.

Disclaimer: All information on this page or website is general information only, not intended as advice, and does not take into consideration your personal circumstances. We recommend consulting a professional adviser before making any insurance decision.

Please note: Policywise advisers are licensed by the Financial Markets Authority to provide financial advice in relation to health insurance, life insurance, and disability insurance. You can learn more about this on our Public Disclosure page. All insurance covers are subject to the insurer’s approval of your application. 

Insurance policies and their built-in and optional benefits may be subject to stand-down periods, exclusions, terms and conditions, and premium loadings not listed on this website. Optional benefits also have additional premiums. Please refer to the insurance product’s policy document for full details. Insurers may alter these details at any time. 

Therefore, nothing in our product pages is intended to be definitive or binding. Where there are discrepancies between any policy wording on this website and the policy wording provided by the insurance company at the time your cover is approved, then the insurance company’s wording will be deemed the correct version.

Quickly find the cover that’s best for you

Policywise tells you which health, life or disability insurance best matches your circumstances, 100% free. Talk to one of our insurance advisers to find out which health or life insurance is best for you.

References

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