On Your Side Insurance Plan 2 / On Your Side Insurance Plan 2 - First Gift

We must prepare to face risks and threats at any life stage
Evolving health threats make it difficult to predict when critical illnesses or physical problems will arise, regardless of our age. Unforeseen health issues can occur at any time. This is why it is essential to secure protection against various health risks and needs at every stage, leading to a fulfilling life for yourself and your loved ones.


Look forward to living each stage of life to the fullest with you and your loved ones
On Your Side Insurance Plan 2 / On Your Side Insurance Plan 2 – First Gift empowers you to embrace all life stages as your critical illness protection needs evolve - from building up your coverage in your youth to providing support as you start a new family. Additionally, the top-up premium payment option provides flexibility on payment of premiums while the value-added services help build a strong health shield.


Plan Highlights

• 115 diseases covered
  Cover for 58 critical illnesses (including 57 major illnesses and 1 minor illness), 44 early-stage critical illnesses and 13 severe child diseases.
  
  
• Cover for Intensive Care Unit (ICU) stays
  2-tier protection for ICU stays resulting from health issues beyond critical illnesses, including infectious diseases and injuries.
  
  
• Multiple claims for designated critical illnesses
  Up to 11 claims in total for cancer, heart attack, stroke, Alzheimer’s disease / Irreversible organic degenerative brain disorders and Parkinson’s disease.
  
  
• Continuous Cancer payouts
  Up to 100 months of cancer payouts as a long term support.
  
  
• Lifelong continuous care of Alzheimer’s disease / Irreversible organic degenerative brain disorders or Parkinson’s disease
  Lifelong annual benefit to support the cost of long-term care for Alzheimer’s disease / Irreversible organic degenerative brain disorders or Parkinson’s disease.
  
  
• First Gift for your baby
  Cover for your baby right after birth for protection against congenital conditions and critical illness.

Notes:
1. “We”, “our”, or “us” herein refers to AIA International Limited (Incorporated in Bermuda with limited liability) ("AIA").
2. The above insurance plan can only be purchased through The Bank of East Asia, Limited ("BEA") as a basic plan. The above product information in this material does not contain the full terms of the product, for the details of the product features, terms and conditions, exclusions and key product risks, you may refer to the product brochure and policy contract of relevant products. In case you want to read policy contract sample before making an application, you can obtain a copy from AIA. Life insurance policies are long-term contracts of insurance. Should you surrender the policy early, you may receive an amount considerably less than the total amount of premiums paid.
3. We would like to remind you to review the relevant product materials and proposal illustrations (if applicable) provided to you and seek independent professional advice if necessary.
4. AIA Vitality (the “Membership Programme”) is not an insurance product. It is a membership programme and obligation of the AIA International Limited (“AIA”) and not of The Bank of East Asia, Limited (“BEA”). BEA’s role is limited to introducing the Membership Programme only and you should obtain further details about the Membership Programme directly from AIA. BEA shall not be responsible for any matters in relation to the Membership Programme provided by AIA.
5. The applicants for AIA Vitality must be aged 18 or above and must be the life insured of the in-force policy of an AIA Vitality selected insurance product. An annual membership fee will be charged for AIA Vitality and a member has to renew the AIA Vitality membership annually on time in order to maintain the membership and enjoy premium discount (if any) in the subsequent policy years. The membership fee of AIA Vitality may vary at any time without prior notice. Likewise, programme benefits may be added or removed without prior notice.


Please refer to the Product Brochure for the details, coverage, key risks, major exclusions, terms and conditions of the plan.

 



Important Information

This brochure does not contain the full terms and conditions of the policy. It is not, and does not form part of, a contract of insurance and is designed to provide an overview of the key features of this product. The precise terms and conditions of this plan are specified in the policy contract. Please refer to the policy contract for the definitions of capitalised terms, and the exact and complete terms and conditions of cover. In case you want to read policy contract sample before making an application, you can obtain a copy from AIA. This brochure should be read along with the illustrative document (if any) and other relevant marketing materials, which include additional information and important considerations about this product. We would like to remind you to review the relevant product materials provided to you and seek independent professional advice if necessary.

You may choose to purchase this Plan as a standalone plan without purchasing other type(s) of insurance products at the same time.

This brochure is for distribution in Hong Kong / Macau only.

Effective from 1 January 2018, all policy owners are required to pay a levy on each premium payment made for both new and in-force Hong Kong policies to the Insurance Authority (IA). For levy details, please visit our website at www.aia.com.hk/useful-information-ia-en or IA’s website at www.ia.org.hk.


Bonus Philosophy
This is a participating insurance plan in which we share a portion of the profits earned on it and related participating insurance plans with the policy owners. It is designed to be held long term. The premiums of a participating insurance plan will be invested in a variety of assets according to our investment strategy. The cost of policy benefits (including guaranteed and non-guaranteed benefits as specified in your plan that may be payable on death, surrender or the occurrence of certain events such as hospitalization or diagnosis of a critical illness, as well as charges we make to support policy guarantees (if applicable)) and expenses will be deducted as appropriate from premiums of the participating insurance plan or from the invested assets. We aim to ensure a fair sharing of profits between policy owners and shareholders, and among different groups of policy owners.

Divisible surplus refers to profits available for distribution back to policy owners as determined by us. The divisible surplus that will be shared with policy owners will be based on the profits earned from your plan and similar plans or similar groups of policies (as determined by us from time to time by considering factors such as benefit features, policy currencies and period of policy issuance). Divisible surplus may be shared with the policy owners in the form of terminal bonuses as specified in your policy.

We review and determine the bonus amounts payable to policy owners at least once per year. Divisible surplus depends on the investment performance of the assets which we invest in and the amounts of benefits and expenses we need to pay for the plan. It is therefore inherently uncertain. Nevertheless, we aim to deliver relatively stable bonus payments over time through a smoothing process by spreading out the gains and losses over a period of time. The actual bonuses declared may be different from those illustrated or projected in any insurance plan information provided (e.g. benefit illustrations) depending on whether the divisible surplus, past experience and / or outlook are different from what we expected. If bonuses are different from our last communication, this will be reflected in the policy anniversary statement.

A committee has been set up to provide independent advice on the determination of the bonus amounts to the Board of the Company. The committee is comprised of members from different control functions or departments within the organisation both at the AIA Group level as well as Hong Kong local level, such as office of the Chief Executive of the Company, legal, compliance, finance, investment and risk management. Each member of the committee will endeavour to exercise due care, diligence and skill in the performance of his or her duties as a member. The committee will utilise the knowledge, experience, and perspectives of each individual member to assist the Board in the discharge of its duty to make independent decisions and to manage the risk of conflict of interests, in order to ensure fair treatment between policy owners and shareholders, and among different groups of policy owners. The actual bonuses, which are recommended by the Appointed Actuary, will be decided upon the deliberation of the committee and finally approved by the Board of Directors of the Company, including one or more Independent Non-Executive Directors, and with written declaration by the Chairman of the Board, an Independent Non-Executive Director and the Appointed Actuary on the management of fair treatment between policy owners and shareholders.
To determine the bonuses of a participating policy, we consider both past experience and the future outlook of all factors including, but not limited to, the following:

Investment returns: include interest earnings, dividends and any changes in the market value of the backing assets, i.e. the assets in which we invest your premiums (after deducting the cost of policy benefits and expenses). Depending on the asset allocation adopted for the insurance plan, investment returns could be affected by fluctuations in interest income (both interest earnings and the outlook for interest rates) and various market risks, including interest rate risk, credit spread and default risk, fluctuations in listed and private equity prices, real estate prices as well as foreign exchange rates if the currency of the backing assets is different from the policy currency, etc.

Claims: include claims for death benefits, critical illness benefits and any other insured benefits under the insurance plan.

Surrenders: include policy surrenders, partial surrenders and policy lapses; and their corresponding impact on the backing assets.

Expenses: include both expenses directly related to the policy (e.g. commission, underwriting, issue and premium collection expenses) and indirect expenses allocated to the insurance plan (e.g. general administrative costs).

For bonus philosophy and bonus history, please visit our website at https://www.aia.com.hk/en/dividend-philosophy-history.html


Investment Philosophy, Objective and Strategy
Our investment philosophy aims to deliver sustainable long-term returns in line with the insurance plan’s investment objectives and the Company’s business and financial objectives.

Our aforementioned objectives are to achieve the targeted long-term investment results while minimising volatility in investment returns to support the liabilities over time. They also aim to control and diversify risk exposures, maintain adequate liquidity and manage the assets with respect to the liabilities.

Our current long-term target strategy is to allocate assets attributed to this insurance plan as follows:

The bonds and other fixed income instruments predominantly include government and corporate bonds and are mainly invested in the United States and Asia-Pacific. Growth assets may include listed equity, equity mutual funds, physical real estate, real estate funds, private equity funds and private credit funds, and are mainly invested in the United States, Asia-Pacific and Europe. Growth assets generally have a higher long-term expected return than bonds and fixed income assets but may be more volatile in the short term. The range of target asset mix may be different for different participating insurance plans. Our investment strategy is to actively manage the investment portfolio i.e. adjust the asset mix dynamically over a range that can be wider than the target range in response to the external market conditions and the financial condition of the participating business. For example, there may be a smaller proportion of growth assets when interest rates are low and a larger proportion of growth assets when interest rates are high. When interest rates are low, the proportion of growth assets may be even smaller than the long-term target strategy, so as to allow us to minimise volatility in investment returns and to protect our ability to pay the guaranteed benefits under the insurance plans, whereas the proportion of the growth assets may be even larger than the long-term target strategy when interest rates are high to allow for the possibility that we may share more investment opportunities in growth assets with the policy owners.

Subject to our investment objectives, we may use a material amount of derivatives (such as through pre-investing partly or fully expected future premiums) to manage our investment risk exposure and for matching between assets and liabilities, for example, the effects of changes in interest rates may be moderated while allowing for more flexibility in asset allocation.

Our general currency strategy is to minimise currency mismatches for bonds and other fixed income instruments. For these investments, our current practice is to endeavour to currency-match asset purchases with the currency of the underlying policy (e.g. US Dollar assets will be used to back US Dollar insurance plans). However, subject to market availability and opportunity, bonds or other fixed income instruments may be invested in a currency other than the currency of the underlying policy and currency swaps may be used to minimise the currency risks. Currently assets are mainly invested in US Dollar. Growth assets may be invested in a currency other than the currency of the underlying policy and the selection of the currency is made according to our investment philosophy, investment objectives and mandate.

We will pool similar participating insurance plans for investment to determine the return and we will then allocate the return to specific participating insurance plans with reference to their target asset mix. Actual investments (e.g. geographical mix, currency mix) would depend on market opportunities at the time of purchase, hence may be different from the target asset mix.

The investment strategy is subject to change depending on the market conditions and economic outlook. Should there be any material changes in the investment strategy, we will inform policy owners of the changes, with underlying reasons and expected impact to the bonuses.



Key Product Risks

1. You should pay premium(s) on time and according to the selected premium payment schedule. If you stop paying the premium before completion of the premium payment term, you may elect one of the non-forfeiture options to surrender the policy or convert the policy to a non-participating insurance plan with life protection only. Compared with the original plan, such a plan will have less cover and may have a shorter term.
2. If no non-forfeiture option has been elected, the premium will be covered by a loan taken out on the policy automatically. When the loan balance exceeds the guaranteed cash value, the policy will lapse and you / the insured will lose the cover. The surrender value of the policy will be used to repay the loan balance, and we will refund any remaining value.
   The plan may make certain portion of its investment in growth assets. Returns of growth assets are generally more volatile than bonds and other fixed income instruments, you should note the target asset mix of the product as disclosed in this product brochure, which will affect the bonus on the product. The savings component of the plan is subject to risks and possible loss. Should you surrender the policy early, you may receive an amount considerably less than the total amount of premiums paid.
3. The policy value including guaranteed cash value and terminal bonus and both will be reduced when an advance payment is paid under the basic policy. Under such condition, this plan may not serve the purpose of wealth accumulation.
4. You may request for the termination of your policy by notifying us in written notice. Also, we will terminate your policy and you / the insured will lose the cover on the occurrence of the earliest of any of the following:
   • the insured passes away (except when the expectant mother passes away but the insured newborn child survives under On Your Side Insurance Plan 2 – First Gift);
   • you do not pay the premium within 31 days of the due date;
   • the end of the benefit term if basic policy has been continued as a non-participating insurance plan;
   • the outstanding debt exceeds the guaranteed cash value of the policy. Where the premium is covered by a loan taken out on the policy automatically, the outstanding debt (including the policy loan and interest) exceeds the guaranteed cash value of your policy;
   • the date of termination of pregnancy with loss or death of the fetus (whether due to miscarriage or termination of pregnancy or otherwise and whether occurring spontaneously or otherwise), or the date the expectant mother suffers astillbirth, regardless of whether Compassionate Refund of Premium Benefit is paid (applicable to On Your Side Insurance Plan 2 – First Gift only); or
   • we do not receive the birth certificate of the newborn child within 14 days before the first policy anniversary (applicable to On Your Side Insurance Plan 2 – First Gift only).
5. The Coverage Booster will be terminated on the occurrence of the earliest of any of the following:
   • when the total payments paid under the Coverage Booster reach the Coverage Booster Benefit Amount (i.e. 50% of Initial Sum Assured if the insured’s age is 30 or below at policy application or 35% of Initial Sum Assured if the insured’s age is 31 or above at policy application);
   • at the end of the 10th policy year;
   • when the basic plan is terminated or converted to a non-participating insurance plan; or
   • when you surrender the Coverage Booster and convert it to a whole life or whole life with critical illness protection insurance plan.
6. The Continuous Cancer Income Benefit will be terminated on the occurrence of the earliest of any of the following:
   • when the total payments paid under the Continuous Cancer Income Benefit reach 500% of the Initial Sum Assured;
   • when the total payments paid for cancer under the basic policy (under major illness benefit, Continuous Cancer Income Option and 10X Multiple Critical Illness Benefit) reach 600% of the Initial Sum Assured;
   • at the policy anniversary on or immediately following the insured’s 85th birthday; or
   • when the basic plan is terminated or converted to a non-participating insurance plan.
7. The Lifelong Alzheimer / Parkinson Annuity Benefit will be terminated when the following happens:
   • when the basic plan is terminated or converted to a non-participating insurance plan.
8. The 10X Multiple Critical Illness Benefit will be terminated on the occurrence of the earliest of any of the following:
   • when the total payments paid under the basic policy (excluding the Coverage Booster, Lifelong Alzheimer / Parkinson Annuity Benefit, Severe Jaundice Benefit (applicable to On Your Side Insurance Plan 2 – First Gift only) and Cord Blood Stem Cell Transfusion Benefit (applicable to On Your Side Insurance Plan 2 – First Gift only)) reach 1,100% of the Initial Sum Assured;
   • when the total payments paid under 10X Multiple Critical Illness Benefit reach 1,000% of the Initial Sum Assured;
   • at the policy anniversary on or immediately following the insured’s 85th birthday; or
   • when the basic plan is terminated or converted to a non-participating insurance plan.
9. The Waiver of Premium on Death (Parents) will be terminated on the occurrence of the earliest of any of the following:
   • at the policy anniversary on or immediately following the insured’s 25th birthday;
   • in respect of the policy owner, at the policy anniversary on or immediately following the policy owner’s 75th birthday; or
   • in respect of the contingent owner, at the policy anniversary on or immediately following the contingent owner’s 75th birthday.
10. The Waiver of Premium on Death (Spouse) will be terminated when the following happens:
    • at the policy anniversary on or immediately following the 75th birthday of the spouse of the insured.
11. The Top-up Premium Protector will automatically terminate on the occurrence of the earliest of any of the following:
    • when the entire balance of regular premiums payable under the basic policy is waived by us;
    • when the total advance payments paid under the basic policy reach 100% of the Initial Sum Assured;
    • at the end of the 5th policy year; or
    • when the basic plan is terminated or converted to a non-participating insurance plan.
12. Once top-up premium payment option is selected, it cannot be cancelled or changed. Before selecting the premium payment option, you are reminded to consider carefully both premium payment options and to assess and understand any potential financial impact to you. For the differences between the two premium payment options (including returns, benefits and premium amounts), please refer to the respective benefit illustrations.
13. Under 10X Multiple Critical Illness Benefit and Lifelong Alzheimer / Parkinson Annuity Benefit, (i) in respect of the insured’s diagnosis of Alzheimer’s disease / Irreversible organic degenerative brain disorders, benefit payment will only be paid if the insured is diagnosed with Alzheimer’s disease / Irreversible organic degenerative brain disorders and characterized by a Mini Mental State Examination score of 10 or less out of 30 on or before the policy anniversary on or immediately following the insured’s 85th birthday; or (ii) in respect of the insured’s diagnosis of Parkinson’s disease, benefit payment will only be paid if the insured fulfils the Company’s definition requirement of Parkinson’s disease on or before the policy anniversary on or immediately following the insured’s 85th birthday.
14. We underwrite the plan and you are subject to our credit risk. If we are unable to satisfy the financial obligations of the policy, you may lose your premium paid and benefits.
15. You are subject to exchange rate risks for plans denominated in currencies other than the local currency. Exchange rates fluctuate from time to time. You may suffer a loss of your benefit values and the subsequent premium payments (if any) may be higher than your initial premium payment as a result of exchange rate fluctuations. You should consider the exchange rate risks and decide whether to take such risks.
16. Your current planned benefit may not be sufficient to meet your future needs since the future cost of living may become higher than they are today due to inflation. Where the actual rate of inflation is higher than expected, you may receive less in real terms even if we meet all of our contractual obligations.
17. Future premiums will be reviewed and adjusted if necessary to reflect overall claim experience and other factors, the detailed list of which are set out under “Premium Adjustment” section.

Key Exclusions
Except for the death benefit, under this plan, we will not cover any of the following events or conditions that result from any of the following events:

• any illnesses with signs / symptoms or surgeries caused or triggered by conditions, which first occurred before or within 90 days after the policy is issued (applicable to On Your Side Insurance Plan 2 only);
• Fulminant viral hepatitis or cancer of the insured due to AIDS or HIV infection;
• a self-inflicted injury; and
• any illnesses existed before the policy is issued and was not disclosed in the application for insurance or health statement.

• a cosmetic treatment performed on the insured unless it is necessitated by injury and it is performed within 90 days of the accident;
• the insured’s pregnancy, surrogacy, childbirth or termination of pregnancy, birth control, infertility or human assisted reproduction, or sterilisation of either of the sexes;
• mental disorder, psychological or psychiatric conditions, behavioural problems or personality disorder of the insured;
• primarily for physiotherapy or for the investigation of signs and / or symptoms with diagnostic imaging, laboratory investigation or other diagnostic procedures; or
• experimental and / or unconventional medical technology / procedure / therapy performed on the insured; or novel drugs / medicines / stem cell therapy not yet approved by the government, relevant authorities and recognised medical association in the locality.

Premium Adjustment
In order to provide you with continuous protection, we will review the premium of your policy from time to time within the premium payment term and adjust accordingly at the end of policy year if necessary. During the review, we may consider factors including but not limited to the following:

• claim costs incurred from all policies under this plan and any other similar plans as determined by us, and the expected claim outgo in the future of such policies, which reflects the impact of change in the incidence rate of deaths, covered illnesses and covered surgeries
• potential changes in the Schedule of Surgical Procedures under the Voluntary Health Insurance Scheme
• historical investment returns and the future outlook of this plan’s backing asset
• policy surrenders and lapses of this plan
• expenses directly related to this plan and indirect expenses allocated to this plan

Product Limitation

1. In case the insured reaches the age of 70 or above and makes any subsequent claim for prostate cancer resulting from the continuation of a previous prostate cancer for which a previous claim was made under the policy, the 10X Multiple Critical Illness Benefit will only be payable for the subsequent claim for prostate cancer if the insured has received or is in the process of receiving the full course of cancer-directed surgery, radiotherapy, chemotherapy, targeted therapy or a combination of these treatments (excluding hormonal therapy) which is medically necessary during the intervening period between the diagnosis of the previous and subsequent prostate cancer.
2. ICU Protection Benefit applies only if the insured stays in Intensive Care Unit for a Reasonable and Customary Hospital Confinement. “Reasonable and Customary Hospital Confinement” means a confinement in hospital for illness which is medically necessary, where the admission of the insured, length of confinement, and medical services and treatment received during confinement:
   • are all in accordance with standards of good medical practice; and
   • do not exceed the usual standard for the treatment of similar illness at the location where such confinement takes place.
   Severe Jaundice Benefit will only be payable if in-patient phototherapy for treatment of the insured’s severe jaundice is medically necessary. Cord Blood Stem Cell Transfusion Benefit will only be payable if cord blood stem cell transfusion is medically necessary for treatment of the insured’s cancer as recommended by a registered medical practitioner who is an oncologistThe term “medically necessary” as stated above means that the medical service, procedure or supply is, in our opinion:
   • consistent with the generally accepted professional standards of medical practice;
   • required to establish a diagnosis and / or to provide treatment; and
   • cannot be safely delivered in a lower level of medical care
   Experimental, screening, and preventive services or supplies are not considered medically necessary.
3. For Waiver of Premium on Death (Parents) and Waiver of Premium on Death (Spouse), there is a 2-year waiting period. The 2-year waiting period refers to the death of the insured’s parent or the insured’s spouse occur at least 2 years after:
   (i) the later of the issue date and the commencement date of the policy; or
   (ii) the effective date when the insured’s parent is named as the owner or contingent owner (as the case may be) if the insured’s parent becomes the owner or contingent owner after the policy is issued; or
   (iii) the effective date when the insured’s spouse is named as the owner or beneficiary (as the case may be) if the insured’s spouse becomes the owner or beneficiary after the policy is issued.
   The insured’s parent and the insured’s spouse must be aged 50 or below at the time when he / she becomes the owner, contingent owner or beneficiary (as the case may be).
4. Applicable to On Your Side Insurance Plan 2 – First Gift only
   The proposed insured of the On Your Side Insurance Plan 2 – First Gift policy must be an expectant mother who (i) must be aged 18 to 45 with gestation period of 22nd week or above at the time of application for the On Your Side Insurance Plan 2 – First Gift policy and (ii) carries the fetus for herself and who will become the legal mother of the newborn child following his / her birth. Only 1 person can be the insured under the On Your Side Insurance Plan 2 – First Gift policy at any given time. The expectant mother is required to apply for a separate On Your Side Insurance Plan 2 – First Gift policy for each fetus if she is carrying twins. On Your Side Insurance Plan 2 – First Gift is not applicable to an expectant mother who is carrying more than two fetuses at the same time. The issuance of the On Your Side Insurance Plan 2 – First Gift policy is subject to AIA’s sole discretion and underwriting decision.
5. Each of Care Concierge and One-Stop Oncology Service is additional value-added service, which is not guaranteed subject to the respective terms and conditions thereof, and does not form part of the contractual benefit of On Your Side Insurance Plan 2 / On Your Side Insurance Plan 2 – First Gift. The services under Care Concierge are provided in mainland China by the designated third party service provider engaged by AIA, and not applicable to Hong Kong and Macau region. One-Stop Oncology Service is provided in Hong Kong by designated independent third party service providers and not applicable to Macau region. The multi-disciplinary team of the medical specialists under One-Stop Oncology Service is designated by independent third party service provider and is subject to change from time to time without prior notice. AIA shall not be responsible for any act, negligence or omission of the service providers in the provision of any service, treatment, advice and opinion.
   Care Concierge and One-Stop Oncology Service are subject to the eligibility of the insured (for One-Stop Oncology Service, it includes review of the insured’s relevant medical reports of pathological or diagnostic imaging tests by the designated service providers), the availability of the services, the terms and conditions and any applicable terms and conditions imposed by the service providers relating to the services. AIA reserves the right to amend, suspend or terminate Care Concierge and One-Stop Oncology Service or any part of service thereunder (including the service providers, any details or terms and conditions relating thereto) at any time without any prior notice.
   Please note that the Pre-approval - Medical Expense & Cashless Service and the administrative support related thereto under Care Concierge and One-Stop Oncology Service are not available to be used by the insured of On Your Side Insurance Plan 2 / On Your Side Insurance Plan 2 – First Gift.
   For details, please refer to the relevant service leaflets and AIA’s website:
   • Care Concierge: https://www.aia.com.hk/en/health-and- wellness/healthcare-services/care-concierge
   • One-Stop Oncology Service: https://www.aia.com.hk/en/ health-and-wellness/healthcare-services/aia-carepass/ one-stop-oncology-service.

Claim Procedure
If you wish to make a claim, you must send us the appropriate forms and relevant proof. You can get the appropriate claim forms in www.aia.com.hk, from your financial planner, by calling the AIA Customer Hotline (852) 2232 8968 in Hong Kong, or by visiting any AIA Customer Service Centre. For details related to making a claim, please refer to the policy contract. If you wish to know more about claim related matter, you may visit “File A Claim” section under our company website www.aia.com.hk.


Suicide
If the insured commits suicide within one year from the date on which the policy takes effect, our liability will be limited to the refund of premiums paid (without interest) less any outstanding debt.


Incontestability
Except for fraud or non-payment of premiums, we will not contest the validity of this policy after it has been in force during the lifetime of the insured for a continuous period of 2 years from the date on which the policy takes effect. This provision does not apply to any add-on plan providing accident, hospitalisation or disability benefits.


Warning Statement and Cancellation Right
On Your Side Insurance Plan 2 / On Your Side Insurance Plan 2 – First Gift is an insurance plan with a savings element. Part of the premium pays for the insurance and related costs. If you are not happy with your policy, you have a right to cancel it within the cooling-off period and obtain a refund of any premiums and levy paid. A written notice signed by you should be received by the Customer Service Centre of AIA International Limited at 12/F, AIA Tower, 183 Electric Road, North Point, Hong Kong within the cooling-off period (that is, 21 calendar days immediately following either the day of delivery of the policy or cooling-off notice (informing you / your nominated representative about the availability of the policy and expiry date of the cooling-off period, whichever is earlier)). After the expiration of the cooling-off period, if you cancel the policy before the end of the term, the projected total cash value may be substantially less than the total premium you have paid.


Important Notes from the Insurance Agent of The Bank of East Asia, Limited

• The Bank of East Asia, Limited (“BEA”), being registered with the Insurance Authority as a licensed insurance agency, act as an appointed licensed insurance agent for AIA International Limited (incorporated in Bermuda with limited liability) (“AIA”). This insurance plan is a product of AIA but not BEA.
• This insurance plan is underwritten by AIA and it is not a bank savings plan with free life insurance coverage. Part of the premium pays for the insurance and related costs. The premium paid is not a placement of a savings deposit with the bank and hence is not protected by the Deposit Protection Scheme in Hong Kong.
• Add-on plan (if any) is an add-on coverage for this insurance plan with additional premium paid required. BEA does not distribute any add-on plan; therefore, you cannot apply the add-on plan through BEA. If needed, you can contact AIA Customer Service Centre for inquiry after the policy is issued by AIA.
• In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between BEA and the customer out of the selling process or processing of the related transaction, BEA is required to enter into a Financial Dispute Resolution Scheme process with the customer.
• Claims under this insurance plan must be made by you to AIA directly. You can get the appropriate claim form by calling AIA Customer Service Hotline +852 2232 8968 in Hong Kong or visiting www.aia.com.hk or any AIA Customer Service Centre. For details, please refer to the policy contract provided by AIA.
• BEA’s sales staff (including direct sales staff and authorised agents) are remunerated not only based on their financial performance, but also according to a range of other factors, including their adherence to best practices and their dedication to serving customers’ interests.
• You can refer to the benefit illustration for the amounts of premium you have to pay.
• The information you disclosed in response to all AIA’s questions must be true, complete and correct. Failure to disclose true, complete and correct information to AIA may render AIA unable to accept or process your application or the policy void.
• You are reminded to carefully review the relevant product materials provided to you and be advised to seek professional/ independent advice when considered necessary.
• For the benefits and returns mentioned throughout the product brochure and Important Notes, please note that the policy owner is subject to the credit risk of AIA. If the policy owner discontinues and / or surrenders this policy in early policy years, the amount of benefits he / she will get back may be considerably less than the total premiums he / she has paid. Projected and / or potential benefits and / or returns (e.g. terminal bonus) presented in the product brochure are not guaranteed and are for illustrative purposes only. The actual future amounts of benefits and / or returns may be lower than or higher than the currently quoted benefits and / or returns.
• AIA Vitality (the “Membership Programme”) is not an insurance product. It is a membership programme and obligation of AIA and not of BEA. BEA’s role is limited to introducing the Membership Programme only and you should obtain further details about the Membership Programme directly from AIA. BEA shall not be responsible for any matters in relation to the Membership Programme provided by AIA.
• Apart from the key product risks mentioned in product brochure, you are also reminded of the following risks:
  1. Liquidity risk – this insurance plan is designed to be held long term. You should only apply for this insurance plan if it is intended to pay the premium for the whole of the premium payment term. If you fail to pay the premium for the whole of the premium payment term, this will cause the policy to lapse or to be terminated earlier than the original benefit term, and the total surrender value (if any) that get back by you may be less than the total premiums paid.
  2. Risk from surrender – if you cancel the policy before the end of the benefit term, you may suffer a significant loss, and the total surrender value received may be substantially less than the total premiums paid.
  3. Non-guaranteed bonus scale – non-guaranteed benefits are based on the bonus scale of AIA determined under current assumed investment return. The actual amount payable may change anytime with the values being higher or lower than those being projected. In other words, a change in the current assumed investment return will affect the terminal bonus you will receive. Under some circumstances, the non-guaranteed benefits may be zero.

For enquiries, please visit your nearest BEA branch or call 2232 8968.