AIA Australia is introducing a term level premium structure to its Priority Protection suite of life insurance products, to provide savings and more flexibility for clients.

The new premium structure is available on life and linked total and permanent disability and/or crisis-recovery benefits, including when those benefits are taken out through Superannuation Plus or Maximiser.

“We… are really excited to offer term level,” CEO Australia and New Zealand Damien Mu said. “Term level complements our existing stepped, level and optimum premium options and is an example of how AIA Australia works with licensees and advisers to provide greater choice to their clients, as well as opportunities to assist business growth.”

AIA says term level premiums may offer savings of 50% or more compared with level premiums, depending on the client’s situation and cover chosen.