Improved heart attack and cancer definitions and the addition of several new events to the crisis recovery benefit are among the latest improvements to AIA Australia’s ‘Priority Protection’ life insurance offering.
Effective 21 May 2012, the latest tranche of changes introduced by AIA Australia to its insurance solution also includes several updates to its income protection offering, including the introduction of ‘inside superannuation’ income protection.
The latest life insurance enhancements delivered by AIA Australia include:
Improved Definition for ‘Heart Attack’
Evidence of a “Heart Attack” required in the trauma insurance definition now includes:
“typical rise and/or fall of cardiac biomarker blood test (Troponin T, Troponin I or CK-MB)…”
The definition also now includes imaging evidence. The full Heat Attack definition now reads:
‘HEART ATTACK’ (myocardial infarction) means the death of heart muscle as a result of inadequate blood supply to the relevant area. The diagnosis must be confirmed by a cardiologist and evidenced by typical rise and/or fall of cardiac biomarker blood test (Troponin T, Troponin I or CK-MB) with at least one level above the 99th percentile of the upper reference limit PLUS:
- Acute cardiac symptoms and signs consistent with myocardialinfarction (e.g. chest pain) or
- New serial ECG changes with the development of any of the following: ST elevation or depression, T wave inversion, pathological Q waves or left bundle branch block (LBBB) or
- Imaging evidence of new loss of viable myocardium or new regional wall motion abnormality
Improved ‘Cancer’ Definitions
- Breast Cancer – the definition has been changed to provide the full benefit for carcinoma in situ of the breast where the insured undergoes breast conserving surgery followed by adjuvant therapy.
- Skin Cancer – the definition has been amended to cover a melanoma of 1.0 mm Breslow’s Depth of Invasion.
- Carcinoma in situ – of penis and testicle have now also been included.
New Crisis Recovery (Trauma Insurance) Benefit Events
The following have been added as new crisis events under the Crisis Recovery Benefit, Double Crisis Recovery Benefit and Crisis Recovery Stand Alone Benefit.
‘Intensive Care’ –defined by AIA Australia as: a sickness or accident that has resulted in you requiring continuous mechanical ventilation by means of tracheal intubation for ten consecutive days (24 hours per day) in an authorised intensive care unit of an acute care hospital. Excluded from this definition is Intensive Care as a result of medically induced coma.While this is an improvement to AIA Australia’s income protection solution, we feel that their definition can still be enhanced.
‘Out of Hospital Cardiac Arrest’ – is defined by AIA Australia as: cardiac arrest not associated with any medical procedure and is documented by an electrocardiogram, occurs out of hospital and is due to:
- Cardiac asystole, or
- Ventricular fibrillation with or without ventricular tachycardia
Introduction of Heart Attack Benefit to Family Protection Benefit
This benefit was not previously included. ‘Heart Attack’ has been added to the Family Protection Benefit.