AIA Australia partners with RAC

AIA said through its four-year deal with the automotive enthusiast club, it has created two new life insurance products designed to provide life insurance cover to its 800,000 members.

“As a part of the agreement, two new life insurance products – RAC Life Protect and RAC Accident Protect – have been created. The products will provide life insurance protection with up to 10 per cent bonus cover at no extra cost for RAC members,” a statement from AIA Australia said.

“The partnership with RAC follows recent deals struck between AIA Australia and Bendigo Bank to provide life insurance to their customers, and last year’s bancassurance agreement with Citibank,” the statement said.

RAC general manager James Forbes said life and personal insurances “are an important step” in supporting the financial health of RAC’s members.

“AIA Australia covers more than three million Australians with life insurance so their expertise in developing these products was vital,” Mr Forbes said.

AIA Australia chief executive Damien Mu said the partnership with RAC will “support more people with life insurance” in Western Australia.

“RAC also provides car insurance, home and contents insurance, roadside assistance service, car loans and personal loans, travel services, home security and auto services to over 800,000 members,” AIA said.

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