AIA has increased incentive offers to retain customers, including premium discounts and Boost Juice, Rebel Sport and JB Hi-Fi vouchers.

The life insurer announced the enhancements to its Priority Protection products last week.

They include a 12.5% discount for lump sum policies purchased with AIA Vitality, and a 12.5% discount on eligible lump sum benefits when lump sum cover and income protection are bought together.

Under the Active Benefits offer, AIA Vitality members who accumulate 250 physical activity points – the equivalent of 37,500 steps – in a week will receive a $7.50 Boost Juice voucher.

AIA research shows daily client engagement and incentivisation makes customers 40% less likely to lapse on life insurance policies.

Additional product enhancements have been made to AIA’s total and permanent disability Maximiser and income protection products.

Improved benefits have also been added, including gift vouchers with a combined value of $650 for Myer, Woolworths, JB Hi-Fi, Caltex Woolworths and Rebel Sport.

AIA Vitality members can also access upgraded discounts with Virgin Active health clubs and Anytime Fitness.

AIA Australia Chief Retail Insurance Officer Pina Sciarrone says AIA Vitality’s appeal is reflected in its client retention results.

“We recognised early on how important product innovation was, and introducing AIA Vitality has been a game-changer for the industry,” she said.