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AIA fee offer aims to lift adviser business

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AIA Australia will waive policy and Vitality scheme fees for the first two years for new applicants to it Priority Protection product.

The offer is open until March 31 and will exclude applications for Priority Protection Express, policy alterations and cancel-and-replacement applications.

The insurer says clients will save at least $82.53 a year for two years on life policies, plus $120 a year for two years on AIA Vitality if they add the wellness program.

“We’re seeing improved lapse rates on our Priority Protection policies when clients engage with their insurance daily through the AIA Vitality program,” AIA Australia Chief Retail Insurance Officer Pina Sciarrone said.

“Our statistics show they are up to 40% less likely to lapse on their life insurance policies when they engage in AIA Vitality.”

Ms Sciarrone says the offer supports the adviser network, allowing them to “offer more value to their clients”.

Meanwhile, AIA Australia Head of Independent Financial Adviser (IFA) Distribution Sam Tremethick will be seconded to the Hong Kong head office as Regional Head of IFA.

He will be responsible for the IFA growth strategy across Asia, New Zealand and Australia.

Mr Tremethick joined AIA Australia in August 2012 as national manager of strategic partnerships, becoming Head of IFA Distribution in November 2014.

He will be temporarily replaced in Australia by Kristen Lennis-Harvey, currently Head of Strategic Partnerships. She joined AIA Australia in May 2015.