The Bank of East Asia

Insurance, MPF & Trust

Life Insurance - Critical Illness Protection

Underwritten by AIA International Limited (Incorporated in Bermuda with limited liability)


SUPPORTING YOU AND YOUR FAMILY DURING UNCERTAIN TIMES

On Your Side Plan / On Your Side Plan – First Gift offers you protection totalling up to 900% of your Initial Sum Assured in the event of a critical illness like cancer, heart attack, stroke and Alzheimer’s disease, or an Intensive Care Unit (ICU) stay. This plan walks alongside you throughout your journey for extra peace of mind.


A SERIOUS ILLNESS CAN SUDDENLY CHANGE YOUR LIFE

We are at risk every day as health threats continue to evolve.

Due to our busy city lifestyles, stress at work, irregular sleep schedules, and an uncontrolled diet are common contributors to the rise in physical problems and critical illnesses today. Beyond the elderly, more young people are being affected by cancer, heart attack, stroke, or degenerative brain disorder. Although advances in medicine and healthcare are reducing fatalities, patients and their families are typically left with a heavy and lasting financial burden on the road to recovery.


Plan Hightlights


Well-rounded protection against critical illnesses and ICU stays

On Your Side Plan / On Your Side Plan – First Gift is a participating insurance plan which covers 115 diseases and Intensive Care Unit (ICU) stays. The plan offers life insurance, critical illness protection and the opportunity to grow your savings. It provides multiple support for cancer, heart attack, stroke, and Alzheimer’s disease / Irreversible organic degenerative brain disorders. Total benefits payable can add up to 900% of your Initial Sum Assured.

Benefit overview

If the insured is diagnosed with any covered major illness, minor illness, early stage critical illness, severe child disease or stay in ICU with specific conditions, we will pay the benefit amount according to the Covered Illnesses Benefit Schedule on pages 30-31 under the product brochure and the corresponding non-guaranteed Terminal Bonus (if any). Once the basic policy has been in force for 5 years, a non-guaranteed Terminal Bonus (if any) will be declared at least once per year.

Under the above benefits, an advance payment will be payable 1 time for each covered illness (except Carcinoma-in-situ) and each tier of ICU Protection Benefit throughout the term of policy. For Carcinoma-in-situ, the advance payment may be paid up to 2 times in total for different organs throughout the term of policy.

The claims payments made in total for these benefits under the policy cannot exceed 100% of the Initial Sum Assured (excluding any Terminal Bonus). Any advance payment(s) made will reduce the Current Sum Assured of the basic policy. The future premium, guaranteed cash value, and any Terminal Bonus will also be reduced accordingly. Once advance payments reach 100% of the Initial Sum Assured, the guaranteed cash value would reduce to zero with the Current Sum Assured and the Terminal Bonus will no longer be declared.


Advance payment for ICU support

ICU care is not only for critical illnesses, but in events such as injuries, infectious diseases, or unusual life-threatening diseases like COVID-19 are also sending patients to the ICU for invasive life support, which is why On Your Side Plan provides 2 tiers of ICU Protection Benefit.

Benefit overview

Under the 1st tier ICU Protection Benefit, you could receive an advance payment of 20% of the Initial Sum Assured9 if the insured has stayed in the ICU and is on invasive life support for 72 or more consecutive hours.

If the ICU stay is outside of Hong Kong and Macau, the benefit payable under the 1st tier will be adjusted to 10% of the Initial Sum Assured.

Under the 2nd tier ICU Protection Benefit, you could receive an 100% of the Initial Sum Assured, less any advance payment paid, if the insured has stayed in the ICU with invasive life support for 120 or more consecutive hours and undergoes a complex surgery defined under the Voluntary Health Insurance Scheme (“VHIS”) Schedule of Surgical Procedures10.


Multiple claims to provide you peace of mind

Although patients today are surviving longer than ever after their first critical illness, some critical illnesses have high recurrence rates1.

Heart disease, stroke and Alzheimer’s disease are common critical illnesses in Hong Kong. Patients are not only the elderly and the incidence rates are increasing year by year11.

To give you extra cover for cancer, heart attack, stroke, and Alzheimer’s disease / Irreversible organic degenerative brain disorders, the plan protects you with the Selected Critical Illness Septuple Benefit to ease your financial burdens on your road to recovery.

Benefit Overview

Once you have claimed 100% of the Initial Sum Assured, no further premium will be required. Subsequently, the Selected Critical Illness Septuple Benefit will pay up to 7 claims in total for cancer (including a continuation, metastasis or recurrence of a previous covered cancer or a new covered cancer), heart attack, stroke, and Alzheimer’s disease / Irreversible organic degenerative brain disorders – each for 100% of the Initial Sum Assured.

The benefit term under the Selected Critical Illness Septuple Benefit is up to age 85 of the insured. Together with the major illness benefit, the maximum number of claims cannot exceed the limitations for corresponding diseases (see below).

The waiting period* between each claim will be 1 year, except where the previous and subsequent claims are both for cancer, in which case it will be 3 years.

* Each subsequent heart attack must be newly diagnosed and must relate to a separate cardiac incident with fresh diagnostic findings that meet the definition of a heart attack according to policy contract. Each subsequent stroke must be newly diagnosed and must relate to a separate cerebrovascular accident or incident producing fresh findings of new or increased neurological functional impairment that meet the definition of a stroke according to policy contract. To entitle the benefit of Alzheimer’s disease / Irreversible organic degenerative brain disorders under the Selected Critical Illness Septuple Benefit, the insured must be evidenced with a Mini Mental State Examination score of 10 or less out of 30. If the last claim was made for an early stage critical illness, severe child disease, minor illness or 1st tier ICU Protection Benefit, no waiting period will be applicable. Please refer to the policy contract for the definition of covered illnesses.


Continuous cancer income option giving you flexibility

Once a cancer payment is paid under the major illness benefit or Selected Critical Illness Septuple Benefit, you may select the Continuous Cancer Income Option, which gives you the flexibility to receive monthly payouts for offsetting ongoing medical costs and loss of income.

Benefit overview

After just a 1-year waiting period^, if the insured is still suffering from cancer and is still receiving active treatment18 or if the cancer is classified as terminal cancer, you can opt to claim a monthly income of 5% of the Initial Sum Assured up to 100 consecutive months or up to age 85 of the insured, whichever is earlier.

The aggregate amount of all benefits paid and payable for eligible claims for cancer under the major illness benefit, Continuous Cancer Income Option and Selected Critical Illness Septuple Benefit is up to 600% of the Initial Sum Assured.

Once the benefit of Continuous Cancer Income Option has been paid, no Selected Critical Illness Septuple Benefit shall be payable for any cancer.

^1-year waiting period following a preceding cancer diagnosis (if the previous cancer payment was made under the major illness benefit or Selected Critical Illness Septuple Benefit)


Lifelong Alzheimer Annuity Benefit to relieve your burden

One of the most commonly known degenerative brain disorder diseases is Alzheimer’s disease and it is irreversible. However, early diagnosis and continuous treatments are helpful in slowing down the progression of the disease19.

This plan provides lifelong annual benefit to support the cost of long-term care for degenerative brain disorder.

Benefit overview

Once a claim due to diagnosis of the Alzheimer’s disease / Irreversible organic degenerative brain disorders is paid under the major illness benefit or Selected Critical Illness Septuple Benefit, and upon a 1-year waiting period after meeting a specific condition^, we will pay an additional 6% of the Initial Sum Assured every year (until the insured passes away).

^ Evidenced with a Mini Mental State Examination score of 10 or less out of 30 before the policy anniversary on or immediately following the 85th birthday of the insured with continuous proof of survival.


ADDITIONAL PROTECTION ESPECIALLY FOR YOU

Continuous protection

Once your claims reach 100% of the Initial Sum Assured, the subsequent premiums of the basic policy will be waived. Add-on plans (if any) attached to the basic policy will remain in force and provide cover if their respective premiums continue to be paid.

Extended cover for your loved ones

To safeguard the continuity of the children’s insurance cover, parents always seek for payor insurance. On Your Side Plan / On Your Side Plan – First Gift provides waiver of premium benefit if the parent unfortunately passes away as the policy owner, included as part of the product features with no additional premium and no health information of the payor (i.e. the policy owner) required to save your hassle.

 


First in the market

Cover for undetected congenital conditions in children

Congenital conditions may remain undetected for years and could develop into a critical illness in adulthood. However, typical insurance products often fail to cover these eventualities. On Your Side Plan / On Your Side Plan – First Gift provides your children with thorough cover for critical illnesses related to congenital diseases even if symptoms remain undetected upon policy issuance, protecting you from the impact of life-changing discoveries.


Upgraded protection for the first 10 years

During the first 10 years of the policy, we will provide the Coverage Booster – an additional one-off payment applicable to 58 critical illnesses, the 2nd tier ICU Protection Benefit or the death benefit. The Coverage Booster will not be reduced by any advance payment for early stage critical illnesses, severe child diseases and the 1st tier ICU Protection Benefit.

Upgraded protection for the first 10 years under On Your Side Plan will entitle the insured to:

Insured's Age at Application  Benefit 
Age 30 or below  Additional 50% of the Initial Sum Assured 
Age 30 or above  Additional 35% of the Initial Sum Assured 


If the worst should happen

If the insured passes away, we will pay the death benefit equal to the Current Sum Assured to the person selected in your policy as the beneficiary. If the basic policy has been in force for 5 years, a non-guaranteed Terminal Bonus (if any) will be declared together with the death benefit.


Wealth accumulation for lifelong benefits

On Your Side Plan / On Your Side Plan – First Gift offers a guaranteed cash value to help you accumulate wealth.

Once the basic policy has been in force for 5 years, On Your Side Plan / On Your Side Plan – First Gift also declares a non-guaranteed Terminal Bonus (if any) to you at least once per year so you may grow your savings. The correspondence Terminal Bonus will be paid upon policy surrender, death of the insured, or pay out the benefits for major illness, minor illness, early stage critical illness, severe child disease or ICU Protection Benefit.

 

On Your Side Plan – First Gift is designed especially for parents-to-be who want to cover their unborn baby right after birth. Applications can begin from the 22nd week of pregnancy, so they can have peace of mind even if there are undetected congenital conditions. After birth, the child will take over as the insured from the mother and will be covered with the benefits under On Your Side Plan (including the benefits on pages 5-14 under the Product Brochure).


First in th market

Critical illness protection and savings from day one

Give your child a head-start in life with the precious gift of critical illness protection and savings from birth. By taking up On Your Side Plan – First Gift during your pregnancy, your unborn baby will enjoy immediate coverage with 20% of the covered illness benefit amount right after birth* so that your child will still be protected even if a congenital condition is discovered. Savings under the plan will also begin accumulating from the time they are in the womb – and continue growing with your child into adulthood.

In the unfortunate event of a miscarriage, stillbirth, the passing of both the mother and baby, or a pregnancy termination that is recommended by a registered specialist doctor, 105% of the total premiums paid will be paid and the policy will be terminated. 

* Full cover commences 90 days after birth.

Newborn child - "Insured", who is the person protected under the policy, refers to your insured child after birth.

Covered Illness Benefit - Please refer to the “Covered Illnesses Benefit Schedule” under the Product Brochure for details. Within the first 90 days, for ICU Protection Benefit (with any respective payable Coverage Booster amount), the benefit payable for ICU stay in Hong Kong and Macau is capped by US$5,000; while for ICU stay outside Hong Kong and Macau, it is capped by US$2,500.

 

Note:

Regarding the first in the market statement, the same plan features / benefits stated above were launched by AIA on 30 June 2017 which were first in the market comparing with comprehensive critical illness products provided by Hong Kong major insurance companies (applicable to Hong Kong only).


Cover at a glance

Product Nature  Critical illness protection insurance plan    
Plan Type  Basic Plan    
On Your Side Plan     
Premium Payment Term 10 years 18 years  25 years  30 years 
Insured's Age at Application  15 days - age 65  15 days - age 62 15 days - age 55  15 days - age 50 
On Your Side Plan - First Gift     
Age of Insured's Mother at Application  Age 18 to 45 with gestation period of 22nd week of above    
Benefit Term

Whole life

(For the specific benefit term of individual benefits, please refer to the covered illness benefit schedule)

Policy Currency US$
Premium Payment Mode23 Annually / Semi-annually / Quarterly / Monthly
Premium
  • Will not be adjusted based on the insured's attained age
  • Premium rates are not guaranteed
Total Coverage

Up to 900% of the Initial Sum Assured24

(The Lifelong Alzheimer Annuity Benefit and Coverage Booster are paid in addition to the 900% coverage computation)

Critical Illness Benefit

Early Stage Critical Illness Benefit

Severe Child Disease Benefit

ICU Protection Benefit

  • If the insured is diagnosed with any covered major illness, minor illness, early stage critical illness, severe child disease or stays in ICU with specific conditions, we will pay:
  1. the benefit amount according to the Covered Illnesses Benefit Schedule; and
  2. the corresponding non-guaranteed Terminal Bonus (if any), provided that the policy has been in force for 5 years or more.
  • Under these benefits, an advance payment will be payable 1 time for each covered illness (except Carcinoma-in-situ) and each tier of ICU Protection Benefit throughout the term of policy. For Carcinoma-in-situ, the advance payment may be paid up to 2 times for different organs throughout the term of policy.
  • If a claim is eligible for both 1st tier ICU Protection Benefit, and Early Stage Critical Illness Benefit or Severe Child Disease Benefit, only Early Stage Critical Illness Benefit or Severe Child Disease Benefit is payable.
  • If a claim is eligible for both 2nd tier ICU Protection Benefit and Critical Illness Benefit, only Critical Illness Benefit is payable except in the case of Cerebral Aneurysm Requiring Surgery, only 2nd tier ICU Protection Benefit would be payable.
  • The claims payments made in total for these benefits under the policy cannot exceed 100% of the Initial Sum Assured (excluding any Terminal Bonus). Any advance payment(s) made will reduce the Current Sum Assured25 of the basic policy. The future premium, guaranteed cash value, and any Terminal Bonus will also be reduced accordingly. Once advance payments reach 100% of the Initial Sum Assured, the guaranteed cash value would reduce to zero with the Current Sum Assured and the Terminal Bonus will no longer be declared.

Selected Critical Illness

  •  Should the aggregate amount of all benefits paid and payable has reached 100% of the Initial Sum Assured, you are entitled to make a total of additional 7 claims for designated critical illnesses. Together with major illness benefit, the maximum number of claims cannot exceed the following limitation for corresponding diseases:
    1. Cancer: 5 claims
    2. Heart Attack and Stroke: 2 claims in total
    3. Alzheimer's disease / Irreversible organic degenerative brain disorders: 1 claim
  • All claims under this benefit are subject to a survival period of 15 days from the date of diagnosis, as well as the relevant waiting period.
  • The waiting period will be 1 year between each claim, except where the previous and subsequent diagnoses are both for cancer, in which case the waiting period will be 3 years. If the last claim was made for an early stage critical illness, severe child disease, minor illness or 1st tier ICU Protection Benefit, no waiting period will be applicable.
  • Once you have made a claim for heart attack or stroke, each subsequent heart attack or stroke must be newly diagnosed.
  • To entitle the benefit of Alzheimer’s disease / Irreversible organic degenerative brain disorders under the Selected Critical Illness Septuple Benefit, the insured must be evidenced with a Mini Mental State Examination score of 10 or less out of 30.
  • Cover period is up to age 85 of the insured. 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, the benefit will only be payable 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.

Continuous Cancer

Income Option 

  • After 1 year from the cancer claim payment from major illness benefit or Selected Critical Illness Septuple Benefit, you opt to receive monthly income of 5% of the Initial Sum Assured up to consecutive 100 months or up to age 85 of the insured, whichever is earlier if the insured still suffer from cancer and the following:
    • report(s) compiled by a registered specialist doctor confirming the below is / are required to be submitted every 6 months
      1. The existence of cancer and
      2. The insured is undergoing Active Treatment18 unless a terminal cancer confirmation by a registered specialist doctor has been provided.
  • All incomes under this benefit are subject to a survival period of 15 days from the date of diagnosis.
  • Once Continuous Cancer Income Option has been paid under the policy, no Selected Critical Illness Septuple Benefit shall be payable for cancer.
  • Total benefits payable for cancer (including major illness benefit, Selected Critical Illness Septuple Benefit and Continuous Cancer Income Option) cannot exceed 600% Initial Sum Assured per policy.

Lifelong Alzheimer Annuity Benefit

Once a claim due to diagnosis of the Alzheimer’s disease / Irreversible organic degenerative brain disorders is paid under the major illness benefit or Selected Critical Illness Septuple Benefit, and upon a 1-year waiting period after the insured suffer from Alzheimer’s disease / Irreversible organic degenerative brain disorders which is characterized by a Mini Mental State Examination score of 10 or less out of 30 on or before age 85 of the insured, an annual income of 6% of the Initial Sum Assured will be payable up to policy termination, as long as survival proof is received by us not less than 1 month but not more than 2 months prior to the benefit payment date each year.

On Your Side Plan – First Gift

  • It will immediately cover your baby with 20% of the original benefit amount26 for covered illnesses benefit right after birth, with full cover commencing 90 days after the date of baby’s birth.
  • During gestation, the expectant mother as the insured will only be covered under the Compassionate Refund of Premium Benefit which is equivalent to 105% of the total premiums paid upon a miscarriage, stillbirth, a pregnancy termination that is recommended by a registered specialist doctor or the passing of both the mother and baby.
  • The baby’s birth certificate is required to be submitted by 14 days before the first policy anniversary. Otherwise, the policy will terminate on the first policy anniversary.

Waiver of Premium for Critical Illness 

The premium payable under the basic plan will be waived following total Critical Illness Benefit, Early Stage Critical Illness Benefit, Severe Child Disease Benefit, and ICU Protection Benefit payment paid equals to 100% Initial Sum Assured.

Add-on plans (if any) attached to the basic policy will remain in force and provide cover if their respective premiums continue to be paid.

Payor Benefit (Death) 

If the policy owner passes away before the age of 75 and provided that the policy has been in force for 2 years or more at the time of the policy owner’s death, the insured child will continue to enjoy cover under the policy without having to pay the remaining premiums of the basic plan until the insured child reaches the age of 25. This premium waiver is available for policies issued to insured under age 18, provided that the policy owner is aged 18 to 50 at policy issue.

Coverage Booster

During the first 10 years of the policy, we will provide the Coverage Booster which is an additional one-off payment applicable to 58 critical illnesses (including 57 major illnesses and 1 minor illness), 2nd tier ICU Protection Benefit or the death benefit. The Coverage Booster will not be reduced by any advance payment for early stage critical illness, severe child disease and 1st tier ICU Protection Benefit.

Insured's Age at Application  Benefit
Age 30 or below Additional 50% of the Initial Sum Assured 
Age 31 or above  Additional 35% of the Initial Sum Assured

The upgraded protection for the first 10 years under On Your Side Plan – First Gift could be an extra support after the birth of baby where they could receive an additional 50% of the Initial Sum Assured. For benefits within the first 90 days, please refer to the On Your Side Plan – First Gift section.

Subject to our underwriting decision at policy inception, we may offer you a conversion right for the Coverage Booster. Starting from the last year of the Coverage Booster effective period or the anniversary of your cover immediately following the insured’s 64th birthday (whichever is earlier), you can convert the remaining unpaid amount of the Coverage Booster into a whole-life or whole-life with critical illness protection insurance plan subject to additional premium, and no further health information will be required. Upon conversion, the Coverage Booster will be surrendered, and the new converted plan will be dated as of the date of such surrender.

Terminal Bonus

Once the basic policy has been in force for 5 years, a non-guaranteed Terminal Bonus (if any) will be declared at least once per year. You may receive the Terminal Bonus when:

  1. you surrender the policy;
  2. the insured passes away; or
  3. the insured passes away; or

Terminal Bonus is a non-cumulative, non-guaranteed bonus, the amount of which is valid until the next declaration. The amount in each declaration may be greater or less than the previous amount based on a number of factors, including but not limited to investment returns and general market conditions.

Payment of the Terminal Bonus is not guaranteed. We determine the amount based on actual experience and it may vary based on the above. In the case of policy surrender, it may be less compared to other situations.

Please note that after the advance payments made in total for benefits under the policy reach 100% of the Initial Sum Assured, the policy will not provide any further Terminal Bonus.

Death Benefit

The death benefit will include:

  1. Current Sum Assued25; and
  2. a one-off non-guaranteed cash amount (if any), called Terminal Bonus, provided that the policy has been in force for 5 years or more.

Surrender Benefit

Guaranteed Cash Value plus Terminal Bonus (non-guaranteed)

Note:

We will deduct all outstanding debt including the unpaid premiums of the basic plan and / or riders (if any) under the policy before making any claim payment of the above mentioned benefits.

 

Remarks

1. Source: Our World in Data - Cancer death rates are falling; five-year survival rates are rising by Hannah Ritchie https://ourworldindata.org/cancer-death-rates-are-falling-five-year-survival-rates-are-risingSource: Cancer Therapy Advisor - Cancer Recurrence Statistics by Andrea S. Blevins Primeau, PhD, MBA https://www.cancertherapyadvisor.com/home/tools/fact-sheets/cancer-recurrence-statistics/

9. Subject to a maximum of US$50,000 per insured. 

10. If the insured undergoes a surgery which is not included in any surgical category under the Voluntary Health Insurance Scheme Schedule of Surgical Procedures, or if this Schedule of Surgical Procedures is no longer valid or is replaced, or if the categories of surgical procedures in this Schedule are renamed or otherwise changed, we will reasonably determine the applicable surgical category based on other surgical procedures with similar difficulty and complexity included in the Schedule of Surgical Procedures and / or any other publication or information from the Hong Kong Government, relevant authorities or medical associations. Please refer to www.vhis.gov.hk for details of the latest Voluntary Health Insurance Scheme Schedule of Surgical Procedures.

11. Source: Department of Health - Number of Deaths by Leading Causes of Death, 2001-2020 https://www.chp.gov.hk/en/statistics/data/10/27/380.html.

18. Active Treatment means the full course of cancer-directed surgery, radiotherapy, chemotherapy, targeted therapy, or a combination of these treatments (excluding hormonal therapy), which is medically necessary.

19. Source: Hospital Authority - Smart Patient - Dementia https://www21.ha.org.hk/smartpatient/Dementia/en-us/Overview/Introduction/.

23. For first year, On Your Side Plan – First Gift’s payment mode must be annual mode (can be changed after submitting the birth certificate).

24. The computation of the total coverage has not yet included Terminal Bonus (if any). 

25. Current Sum Assured means the sum assured left after the deduction of all advance payment(s) made for the benefits for a major illness, minor illness, early stage critical illness, severe child disease and ICU Protection Benefit from the Initial Sum Assured. The Initial Sum Assured means the protection amount that you have purchased.

26. Within the first 90 days, for both tiers of ICU Protection Benefit (with any respective payable Coverage Booster amount), the benefit payable for ICU stay in Hong Kong and Macau is capped by US$5,000; while for ICU stay outside Hong Kong and Macau, it is capped by US$2,500.

 

AIA Vitality

Earn rewards for your healthy lifestyle.

AIA Vitality is a wellness programme which aims to reward customers to live a healthy lifestyle.

Purchase a selected AIA Vitality insurance product and be an AIA Vitality member1, instantly you will get 10% extra cover (known as AIA Vitality Power Up Coverage2) for life protection or major illness benefit, plus an array of rewards and discounts offered by our partners right from the start of your policy. As long as you keep up a healthy lifestyle, you an even enjoy a minimum 10% extra cover each year3.

Simply by being active in daily life and having a healthy diet, you can earn points and upgrade your status for more extra cover and rewards.


Enjoy AIA Vitality Power Up Coverage and lifestyle rewards

AIA Vitality rewards you with extra cover to encourage you to live a healthy life, so you can enjoy life with all-round protection in a smart way.

You can also enjoy a wide range of rewards6 under AIA Vitality and you can refer to www.aia.com.hk/aiavitality for more details.

AIA Vitality is not an insurance product that falls under the jurisdiction of the insurance regulation. Annual membership fee is required for joining7. For details related to the membership and membership fee, please visit “How to join” section under www.aia.com.hk/aiavitality.

Remarks:

  1. The applicants for AIA Vitality must be 18 years old or above and must be the insured of the in-force policy of an AIA Vitality selected insurance product.
  2. AIA Vitality Power Up Coverage is a percentage of Initial Sum Assured added for the sole purpose of computing the death benefit or the major illness benefit for once when it becomes payable. AIA Vitality Power Up Coverage is not applicable to On Your Side Plan - First Gift. In all circumstances, the extra cover percentage will be calculated in accordance with the insured’s AIA Vitality Status achieved on each policy anniversary. The policy anniversary of AIA Vitality selected insurance products and AIA Vitality membership anniversary may not be the same. For details and offers of AIA Vitality selected insurance products, please visit www.aia.com.hk/aiavitality.
  3. To enjoy a 10% extra cover for life protection or major illness benefit each year, members must become Gold Members during their first year and maintain Gold Status from then on.
  4. Members will enjoy 15% extra cover in the subsequent year of policy renewal if they currently enjoy 10% extra cover and maintain the Platinum Status for 5 consecutive years.
  5. AIA Vitality Power Up Coverage percentage is in the range of 0% - 15%. After the 20th policy anniversary, the extra cover percentage the insured could get is taken from the snapshot of the AIA Vitality Power Up Coverage percentage (if any) as at the 20th policy anniversary. It would not be available if the AIA Vitality membership is terminated for any reason or the designated policy is converted to Reduced Paid-Up Insurance or Extended Term Insurance.
  6. AIA Vitality gives the member access to an array of rewards and discounts offered by our partners. For up-to-date information on each benefit, please visit www.aia.com.hk/aiavitality. Partners and benefits may vary at any time without prior notice.
  7. 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 AIA Vitality Power Up Coverage (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.
  8. Members can earn a total of 5,500 points after completing the AIA Vitality Health Review, Stressor Assessment, Exercise Assessment, Online Nutrition Assessment, Non-smoker’s Declaration and Sleep Assessment. Online assessments may change from time to time without prior notice.
  9. Members can earn up to 15,000 points a year for fitness activities including walking and visiting partner gym centres, etc.
  10. For the details of synchronising the step count with AIA Vitality, please visit www.aia.com.hk/aiavitality.

 

Important Note:

Members must log in AIA Vitality through “AIA Connect” mobile application (“Platform”). The Platform is available to use under certain mobile phone operating systems. Please refer to App Store (iOS) and Google Play (Android) for the latest system requirements. AIA gives no warranty on the compatibility or reliability of the Platform, and accepts no responsibility in the event that you are not able to earn or record points due to incompatibility between Platform and / or mobile phone operating systems and fitness devices / fitness-tracking mobile apps.

For the relevant terms and conditions, and the latest details of all assessments, point-earning activities, rewards and offers, please visit www.aia.com.hk/aiavitality.

  1. For up-to-date information on each benefit, please visit www.aia.com.hk/aiavitality. Partners and benefits may vary at any time without prior notice. All representations within this document made on behalf of AIA International Ltd have been thoroughly researched, and are verifiable by documentary evidence. Representations within this document made on behalf of our AIA Vitality partners are based upon information that AIA International Ltd has received from them, and such information has been provided to us along with an assurance from our AIA Vitality partners that it is accurate.
  2. The AIA Vitality Power Up Coverage is not applicable to On Your Side Plan – First Gift. The AIA Vitality Power Up Coverage is not extended to any other policies unless it is specifically stated otherwise.
  3. The AIA Vitality Power Up Percentage is capped at 15% and floored at 0%.
  4. The Death Benefit or the Lump Sum Advance Payment for Critical Illness (as the case may be), the value of which is dependent on the Initial Sum Assured, may be increased.
  5. The insured has to be an AIA Vitality member in order to enjoy the AIA Vitality Power Up Coverage. There are other prerequisite, terms and conditions which dictate the availability of the AIA Vitality Power Up Coverage. Please refer to the policy contract for details.
  6. 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 AIA Vitality Power Up Coverage (if any) in the subsequent policy years.
  7. If the AIA Vitality member is insured by more than one policy or supplementary contract under the AIA Vitality Series, the AIA Vitality Power Up Coverage or AIA Vitality Insurance Premium Discount applied, as the case may be, should be calculated independently for each policy or supplementary contract. For the avoidance of doubt, AIA Vitality Power Up Coverage and AIA Vitality Insurance Premium Discount are mutually exclusive. Please check the illustration of each policy or supplementary contract to find out which one applies.
  8. Whether to apply for AIA Vitality is your / the insured’s own individual decision.
  9. Please note that any change / modification of structure or terms of AIA Vitality may possibly affect the accumulation of points, and therefore the AIA Vitality status and also the benefits under a Vitality policy (including without limitation, power up coverage).
  10. Please note that if an AIA Vitality member is insured by more than one policy or supplementary contract under the AIA Vitality Series, you / the insured is only required to pay the Vitality membership fee once annually to enjoy the related benefits.


Important Information

The 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. The 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.

This plan can be only purchased through The Bank of East Asia, Limited as a basic plan.

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

“AIA”, “the Company”, “We”, “our” or “us” herein refers to AIA International Limited (Incorporated in Bermuda with limited liability).

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.


Dividend and Bonus Philosophy

This is a participating insurance plan designed to be held long term. Your premiums will be invested in a variety of assets according to our investment strategy, with the cost of policy benefits (such as charges to support guarantees) and expenses deducted as appropriate from premiums or assets. Your policy can share the divisible surplus (if any) from related product groups determined by us. A very significant proportion of divisible surplus arising from actual experience gains and losses from related product groups will be shared with policy owners. We aim to ensure a fair sharing of profits between policy owners and shareholders, and among different groups of policy owners. For this plan’s target profit sharing ratio between policy owners and shareholders, please visit our website at www.aia.com.hk/en/our-products/further-product-information/profit-sharing-ratio.html.

Future investment performance is unpredictable. Through oursmoothing process, we aim to deliver more stable Terminal Bonus payments by spreading out the gains and losses over a longer period of time. Stable Terminal Bonus payments will ease your financial planning. We will review and determine the Terminal Bonus amounts to be payable to policy owners at least once per year. The actual Terminal Bonus declared may be different from those illustrated in any product information provided (e.g. benefit illustrations). If there are any changes in Terminal Bonus against the illustration or in the projected future Terminal Bonus, such changes will be reflected in the policy anniversary statement.

A committee has been set up to provide independent advice on the determination of the Terminal 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 AIA Group level as well as Hong Kong local level, such as office of the Chief Executive, legal, compliance, finance and risk management. Each member of the committee will 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 decision 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 Terminal Bonus, 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 Terminal Bonus of the policy, we consider both past experiences and the future outlook for all the factors including, but not limited to, the following:

Investment returns: include interest earnings, dividends and any changes in the market value of the product’s backing assets. Depending on the asset allocation adopted for the product, investment returns could be affected by fluctuations in interest income (both interest earnings and the outlook for interest rates) and various market risks, including credit spread and default risk, fluctuations in equity prices, property prices and foreign exchange currency fluctuation of the backing asset against the policy currency

Claims: include the cost of providing death benefits and other insured benefits under the product(s).

Surrenders: include policy surrenders, partial surrenders and policy lapses; and the corresponding impact on the investments backing the product(s).

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

Some participating products (if applicable) allow the policyholder to leave annual dividends, guaranteed and non-guaranteed cash payments, guaranteed and non-guaranteed incomes, guaranteed and non-guaranteed annuity payments with us, potentially earning interest at a non-guaranteed interest rate. To determine such interest rate, we consider the returns on the pool of assets in which the annual dividends, guaranteed and non-guaranteed cash payments, guaranteed and non-guaranteed incomes, guaranteed and non-guaranteed annuity payments are invested with reference to the past experience and future outlook. This pool of assets is segregated from other investments of the Company and may include bonds and other fixed income instruments.

For dividend & bonus philosophy and dividend / bonus history, please visit AIA's website at www.aia.com.hk/en/dividend-philosophy-history.html.


Investment Philosophy, Policy and Strategy

Our investment philosophy is to deliver stable returns in line with the product’s investment objectives and AIA’s business and financial objectives.

Our investment policy aims to achieve the targeted long-term investment results and minimise volatility in investment returns over time. It also aims 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 product as follows:

Asset Class Target Asset Mix (%)
Bonds and other fixed income instruments  25% - 100% 
Equity-like assets 0% - 75% 

Our investment strategy is to actively manage the investment portfolio i.e.: adjust the asset mix in response to the external market conditions. The proportion of equity-like assets would be lower when interest rate level is low and would be even lower than the long-term target strategy so to protect the guaranteed liability and to minimise volatility in investment returns over time, and vice versa when interest rate is high.

The bonds and other fixed income instruments predominantly include government and corporate bonds, and are mainly invested in the geographic region of the United States and Asia-Pacific (excluding Japan). Equity-like assets may include listed equity, mutual funds and direct / indirect investment in commercial / residential properties, which are mainly invested in Asia. Equity-like assets may also include private equity, which is typically invested in the United States. Returns of equity-like assets are generally more volatile than bonds and other fixed income instruments. Subject to our investment policy, material amount of derivatives may be utilised to manage our investment risk exposure and for matching between assets and liabilities.

Our currency strategy is to minimise currency mismatches. For bonds or other fixed income instruments, our current practice is to currency-match its bond purchases with the underlying policy denomination on best-efforts basis (e.g. US Dollar assets will be used to support US Dollar liabilities and HK Dollar assets will be used to support HK Dollar liabilities). Subject to market availability and opportunity, bonds may be invested in currency other than the underlying policy denomination and currency swap will be used to minimise the currency risks. Currently assets are mainly invested in US Dollar. For equity-like assets, currency exposure depends on the geographic location of the underlying investment where the selection is done according to our investment philosophy, investment policy and mandate.

We will pool the investment returns from other long term insurance products (excluding investment linked assurance schemes and pension schemes) together with this participating insurance plan for determining the actual investment and the return will subsequently be allocated with reference to the target asset mix of the respective participating products. Actual investments (e.g. geographical mix, currency mix) would depend on market opportunities at the time of purchase. Hence it may differ from the target asset mix.

The investment strategy may be 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 impact to the policies.


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 or a shorter term.

    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 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.

  2. The plan may make certain portion of its investment in equity-like assets. Returns of equity-like 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. 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 when one of the following happens:
    • the insured passes away (except when the insured mother passes away but the insured child survives under On Your Side Plan – First Gift);
    • you do not pay the premium within 31 days of the due date and the policy has no cash value;
    • 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 exceeds the guaranteed cash value of your policy;
    • the date of termination of pregnancy with loss or death of the fetus, whether occurring spontaneously or otherwise, and regardless of whether Compassionate Refund of Premium Benefit is paid (only applicable for On Your Side Plan – First Gift); or
    • we do not receive the birth certificate of the new born baby 14 days before the first policy anniversary of the cover (only applicable for On You Side Plan – First Gift).

  4. The Coverage Booster will be terminated when one of the following happens:
    • when the claims payments made in total for benefits under the Coverage Booster reach the Coverage Booster Amount (50% of Initial Sum Assured for the insured’s age 30 or below at policy application or 35% of Initial Sum Assured for the insured’s age 31 or above at policy application);
    • at the end of the 10th policy year; or
    • when the basic plan is terminated or converted to a non-participating insurance plan.
  5. The Continuous Cancer Income Benefit will be terminated when one of the following happens:
    • when the claims payments made in total for Continuous Cancer Income Benefit reach 500% of the Initial Sum Assured;
    • when the claims payments made in total for cancer under the basic policy reach 600% of the Initial Sum Assured;
    • at the anniversary of the cover immediately following the insured’s 85th birthday; or
    • when the basic plan is terminated or converted to a non-participating insurance plan.

  6. The Lifelong Alzheimer Annuity Benefit will be terminated when the following happens:
    • when the basic plan is terminated or converted to a non-participating insurance plan.

  7. The Selected Critical Illness Septuple Benefit will be terminated when one of the following happens:
    • when the claims payments made in total for benefits under the basic policy (excluding the Coverage Booster and Lifelong Alzheimer Annuity Benefit) reach 900% of the Initial Sum Assured;
    • when the claims payment made in total for Selected Critical Illness Septuple Benefit reach 700% of the Initial Sum Assured; or  ;
    • at the anniversary of the cover immediately following the insured’s 85th birthday.

  8. Lifelong Alzheimer Annuity Benefit is only payable 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 anniversary of cover immediately following the insured’s 85th birthday.

  9. The Payor Benefit (Death) will be terminated when one of the following happens:
    • at the anniversary of the cover immediately following the insured’s 25th birthday; or
    • for the policy owner, at the anniversary of cover immediately following the policy owner’s 75th birthday.

  10. 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. 

  11. 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.

  12. 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.


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:


Additional Exclusions for ICU Protection Benefit

The stay in Intensive Care Unit must not be related to or must not arise as a direct or indirect result of:

The above list is for reference only. Please refer to the policy contract of this plan for the complete list and details of exclusions.


Premium Adjustment

In order to provide you with continuous protection, we will review the premium of your plan from time to time and adjust it accordingly at the end of each renewal period if necessary. During the review, we may consider factors including but not limited to the following:

We will give you a written notice of any revision 31 days before the end of policy year.


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, the benefit will only be payable 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.

    For the above-mentioned “medically necessary” means that the medical services, diagnosis and / or treatments are:
    • delivered according to standards of good medical practice;
    • necessary; and
    • cannot be safely delivered in a lower level of medical care.

    Experimental, screening, and preventive services or supplies are not considered medically necessary.


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, by calling the AIA Customer Hotline (852) 2232 8968 in Hong Kong, or by visiting any AIA Customer Service Centre. For detail claim procedures, please refer to the Claim Procedure section in 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 (i.e. the expectant mother and the subsequently child in respect of On Your Side – First Gift) for a continuous period of two 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 Plan / On Your Side Plan – 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