A new partnership between AIA Australia and Western Australia’s Royal Automotive Club (RAC) will see life insurance products offered direct to members.
Under the four-year deal, AIA Australia will provide RAC members with access to two products: RAC Life Protect and RAC Accident Protect.
The Life Protect product offers members cover up to $1 million, with limited underwriting questions. Members have the option of adding trauma, TPD and/or children’s trauma covers to the policy. RAC Accident Protect provides members with up to $1 million accidental death cover, with the option of adding children’s accident cover. Both products offer up to 10% bonus cover on selected benefits at no extra cost for RAC members.
RAC, a mutual organisation which reinvests its profits to benefit members and the community, already offers its members access to car and home and contents insurance, as well as car and personal loans and roadside assistance. There are over 800,000 RAC members in WA.
The RAC deal follows a similar arrangement with Bendigo Bank, announced in June (see: AIA Launches Direct Offer).
RAC General Manager, James Forbes, said the Club believes that life and personal insurances are an important step in supporting the financial health of its members:
“RAC strives to provide our members with a comprehensive range of services to protect and enhance their lifestyle. By adding life insurance to our offering, we give our members the chance to protect their most important assets: themselves and their families.
“AIA Australia covers more than three million Australians with life insurance so their expertise in developing these products was vital,” Mr Forbes said.
Here we go we now have another competitor in the market don’t these people look into history this is another company with short vision they still think advisors are not doing the job correctly so they come out with these airbrain schemes do these fools know how to upset advisors .if it’s not broken don’t try and fix it
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