Wealth Series - Wealth Generation

Life Insurance - Savings and Retirement Income

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

 

Master your wealth, master your legacy

THE GRAND ORCHESTRA OF YOUR WEALTH

ORCHESTRATE YOUR PROSPERITY WITH WEALTH GROWTH AND LEGACY PRECISION IN PERFECT HARMONY

 

An esteemed wealth solution enables you to preserve and leverage your wealth

Every decision you have made has been a note in the grand composition of your life, each one contributing to the harmony of your achievements, your family’s well-being, and your lasting legacy. Now, as you continue your journey in wealth accumulation and allocation, it’s time to ensure your financial symphony resonates for generations to come.

With Wealth Generation, you can gain access to a wealth solution designed to yield attractive potential returns early in your policy, allowing you to seize financial opportunities as they arise.

Wealth Generation also empowers you to pass down your wealth as you wish, ensuring your loved ones are protected and your legacy endures.

 

Wealth Generation is available on a limited basis.

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

 

 

THE ART OF STRATEGIC WEALTH AMPLIFICATION

Wealth is more than just numbers - it's the result of your expertise, vision, and strategic decisions. With Wealth Generation, you may amplify your financial potential so that your assets may continue to grow and adapt to your evolving ambitions.

 

Strike the perfect chord in financial growth

Like a maestro crafting a symphony, Wealth Generation is a participating whole life insurance plan that provides guaranteed cash value and non-guaranteed Terminal Dividend, allowing you to balance security and opportunity.

Covering the entire lifespan of the insured, the plan provides guaranteed cash value. Additionally, starting from the end of the 3rd policy year, we may at our sole discretion declare a non-guaranteed Terminal Dividend once per policy year or more frequently, such as on a monthly basis. These elements work together to build your policy’s values, offering a blend of guaranteed and potential gains for long-term wealth accumulation.

 

Synchronise your returns with a tailored pace

In the ever-changing rhythms of the financial world, balancing growth and security is key. With the Terminal Dividend Lock-in Option, Wealth Generation allows you to realise potential returns by transferring a percentage of the latest value of the Terminal Dividend into a Terminal Dividend Lock-in Account to earn interest at a non-guaranteed rate. This is available once per policy year starting from the end of the 15th policy year, and application for such transfer must be made within 30 days after the end of a policy year.

You can withdraw cash from the Terminal Dividend Lock-in Account at any time without reducing the principal amount of your policy, ensuring flexibility to meet your needs throughout life’s ever-evolving moments.

 

Enjoy cash liquidity as life's melodies change

With Wealth Generation, you have the freedom to orchestrate your wealth - you may withdraw your policy values in one movement or multiple times to suit your evolving aspirations.

You may request to withdraw part of the guaranteed cash value and part of the non-guaranteed Terminal Dividend (if any), however this will reduce the principal amount of your policy*.

Should you wish to withdraw all policy values from your policy, you will receive the sum of the guaranteed cash value, non-guaranteed Terminal Dividend (if any), and the remaining balance of the Terminal Dividend Lock-in Account (if any), and your policy will end upon such withdrawal.

We will deduct all amount you owe us and all outstanding debt (if any) under your policy before we make any payments.

 

Rare-in-Market^{^} Access your wealth at ease with Flexi Withdrawal Option

Starting from the end of the 5th policy year, you may apply to set up instruction to withdraw policy values from the policy on a regular basis during a period specified by you and to designate a recipient, who can be yourself or a loved one, to receive such withdrawal payments. Making it easier to plan your wealth, you may change the recipient and/or the frequency of payments at any time and as many times as you wish, subject to our approval.

For more details on the Flexi Withdrawal Option, please refer to “Cover at a glance” in this brochure.

 

* The subsequent guaranteed cash value, Terminal Dividend (if any) and the single premium paid will all be reduced based on the reduced principal amount, and any Terminal Dividend which the Company may declare subsequently will be reduced accordingly. Therefore, such withdrawal will reduce the death benefit, the surrender benefit and the value of your policy as well as its sustainability and potential growth.

^ As of 7 May 2025, compared with savings insurance products provided by Hong Kong major insurance companies.

 

 

THE HARMONY OF GENERATIONAL WEALTH

Your legacy is more than wealth − it’s the harmony of values, love, and security you pass on to future generations. With Wealth Generation, you can tailor your legacy planning to ensure your loved ones are protected and your wealth resonates for years to come. From flexible ownership option to death benefit settlement option, Wealth Generation empowers you to compose a legacy that reflects your vision.

 

Fine-tune continuity with legacy instruments

Life is a symphony of twists and turns. Wealth Generation is crafted to evolve alongside your needs, ensuring your loved ones are safeguarded and your legacy is seamlessly transferred. You can exercise a diverse range of legacy tools as many times as you wish, subject to our prevailing rules and conditions and our approval, which will help you to create a harmonious future for generations to come.

 

Secured ownership transition with contingent owner

To enjoy flexible legacy planning, you can designate a loved one as the contingent owner during the lifetime of the insured. In the event of your passing, the ownership of your policy will be seamlessly transferred to the contingent owner upon our approval of the contingent owner’s application, ensuring your wealth are managed according to your wish.

 

Trustworthy policy oversight with Transitional Owner Arrangement

Value-Added Services

Under the Transitional Owner Arrangement*, you can designate a family member as the contingent owner of the policy and another aged 18 or above family member as the transitional owner of the policy. The transitional owner will oversee your policy with limited administrative rights until your designated contingent owner takes over the ownership of your policy upon reaching the specified date or specified age as chosen by you.

With First-in-market^{^} Future Guard Option*, the transitional owner may opt to split the policy into two policies and to designate another family member of the current contingent owner as the new contingent owner and the new insured of the Split Policy, who may take over the ownership of the Split Policy upon reaching the specified date or specified age as chosen by the transitional owner.

For details of the Transitional Owner Arrangement and the Future Guard Option (including but not limited to the eligibility, risks and limitations), please refer to the value-added services leaflet of Transitional Owner Arrangement.

 

Seamless transfer with Change of Insured Option

During the lifetime of current insured and after the end of the 1st policy year, you may change the insured to another loved one as many times as you wish, subject to our approval. Immediately after exercising the Change of Insured Option, your policy values will remain unaffected, and your policy will continue to be effective which can be inherited by future generations, helping you pass on your wealth with ease.

 

Uninterrupted protection with Contingent Insured Option

During the lifetime of current insured, you can designate one of your loved ones as the contingent insured. Upon the passing of the current insured, the contingent insured may become the new insured without affecting your policy values, ensuring your legacy is safeguarded for the generations to come.

 

* Transitional Owner Arrangement is  only  available  to  designated  policies  which  meet  our  eligibility  requirements.  Transitional Owner Arrangement is a value-added service and not a product feature, therefore it does not form part of the policy contract of Wealth Generation. Application is subject to our approval to be determined at our discretion. We reserve the right to withdraw the Transitional Owner Arrangement or change its terms and conditions or any related requirements at any time at our sole and absolute discretion. Future Guard Option is one of the service features under the Transitional Owner Arrangement.

^ As of 7 May 2025, compared against similar services offered by Hong Kong major insurance companies.

 

 

Harmonise allocation for optimised wealth succession via Policy Split Option

Starting from the end of the 1st policy year, the Policy Split Option allows you to manage your wealth with precision by seamlessly transferring certain policy values from your policy (“Principal Policy”) to a separate policy (“Split Policy”) . Immediately after exercising the Policy Split Option, your policy will split into two policies each with a smaller principal amount, with no change to the effective date of the Principal Policy while the effective date of the Split Policy will be the same as the Principal Policy.

After the Policy Split Option is exercised, you can apply to change the insured of the Split Policy pursuant to the Change of Insured Option. This flexibility allows you to create the legacy you envision for the generations to come.

For more details on the Policy Split Option, please refer to “Cover at a glance” in this brochure.

Note: The “Principal Policy” is the original policy that you purchase with full premium payment.

 

 

First-in-market^# Flexible asset allocation to cope with life’s uncertainties with Health Impairment Option

Wealth Generation offers Health Impairment Option which is designed to help you secure your loved one’s financial wellbeing in case you suffer from a mental issue or become unconscious for a certain period due to a specified illness including Apallic Syndrome and Coma (“Specified Illness under Health Impairment Option”).

You may designate up to 2 family members aged 18 or above as designated recipients and the applicable designated percentage of policy value for benefit payment and/or ownership transfer. If you are diagnosed as a permanent mentally incapacitated person or become unconscious for a certain period due to a Specified Illness under Health Impairment Option, upon our approval of the application of such designated recipient, and subject to applicable laws and our prevailing rules and conditions, the designated recipient may in accordance with your instructions (i) receive a lump sum benefit payment; or (ii) become the policy owner of part or all your policy; or (iii) receive a lump sum benefit payment and become the policy owner of part of your policy. The amount of such benefit payment and transfer of ownership will be based on the designated percentage of policy value selected by you.

We will deduct all amount you owe us and all outstanding debt (if any) under your policy before we make any payment under this option.

# First-in-market refers to the Health Impairment Option’s specific feature where the policy owner can designate up to 2 different designated recipients and elect for both benefit payment and transfer of ownership under this option at the same time. This feature is first-in-market when compared with the savings insurance products provided by Hong Kong major insurance companies, as of 7 May 2025.

 

 

Weave a melody tailored for your loved ones

If the insured passes away and no contingent insured becomes the new insured, the death benefit will be paid to the beneficiary(ies) whom you have selected for your policy, ensuring that your loved ones receive the protection you intend.

Wealth Generation provides additional protection through an accidental death benefit. This is paid in addition to the death benefit if the insured passes away due to a covered accident within the first policy year, provided no contingent insured becomes the new insured.

 

Craft the ideal payout with the death benefit settlement option

 

 

* First-in-market refers to the Beneficiary Flexi Option’s specific feature where the policy owner allows the beneficiary to choose to receive the death benefit payment in accordance with the beneficiary’s selected settlement option when the beneficiary has attained the Designated Age chosen by the policy owner or when the beneficiary is diagnosed with a Specified Illness under Beneficiary Flexi Option. This feature is first-in-market when compared with the savings insurance products provided by Hong Kong major insurance companies, pioneered by AIA in the FlexiAchiever Savings Plan on 8 January 2025.

 

You can also customise the Death Benefit Settlement Option to address the unique needs of each beneficiary in receiving the death benefit and accidental death benefit (if any). You have the flexibility to decide the amount of each instalment and the payment interval
– including monthly, quarterly, semi-annually, or annually – and you may also specify the date of the first or last instalment payment.

If you have chosen the Death Benefit Settlement Option, you may also choose the Beneficiary Flexi Option. Upon the beneficiary attaining the designated age chosen by you ("Designated Age") or being diagnosed with a specified illness including cancer, stroke, heart attack, terminal illness and kidney failure (“Specified Illness under Beneficiary Flexi Option”), such beneficiary can receive his/her share of the unpaid death benefit and accidental death benefit (if any) according to his/her selected settlement option.

 

 

^ If the insured passes away and no contingent insured becomes the new insured, the beneficiary may apply to select the settlement option for his/her unpaid share of the death benefit and accidental death benefit (if any), provided the beneficiary must be aged 18 or above when he/she applies to select his/her settlement option. The settlement options available for selection by the beneficiary will be subject to the settlement options made available by us under this option at the time of the beneficiary’s application and our prevailing rules and conditions.

 

Cover at a glance

 

 

 

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.

This brochure is for distribution in Hong Kong 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.

 

 

Dividend 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 or surrender, 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 dividends as specified in your policy.

We review and determine the dividend amounts payable to policy owners at least once per year. However, we may at our sole discretion review and determine such dividend amounts more frequently, such as on a monthly basis. 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 dividend payments over time through a smoothing process by spreading out the gains and losses over a period of time. The actual dividends 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 dividends are different from our last communication, this will be reflected in the policy anniversary statement, AIA+ or other communication method as chosen by you.

A committee has been set up to provide independent advice on the determination of the dividend 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 dividends, 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 dividends 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 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).
Some participating insurance plans allow the policy owners to place their annual dividends, guaranteed and non-guaranteed cash payments, guaranteed and non-guaranteed incomes, guaranteed and non-guaranteed annuity payments, and/or bonus and terminal dividend lock-in accounts with us, earning interest at a non-guaranteed interest rate. To determine such non-guaranteed interest rate, we consider the returns on the pool of assets in which these amounts 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 philosophy and dividend 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:

Asset Class	Target Asset Mix (%)
Bonds and other fixed income instruments	30% - 100%
Growth assets	0% - 70%

 

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 dividends.

 

Key Product Risks

1. 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 dividend 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.
2. 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 contingent insured becomes the new insured;
   • any benefit is paid under the basic plan that triggers termination of the policy; or
   • the outstanding debt exceeds the guaranteed cash value of your policy.
3. 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.
4. 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 as a result of exchange rate fluctuations. You should consider the exchange rate risks and decide whether to take such risks.
5. 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 to Accidental Death Benefit

Accidental Death Benefit will not cover any conditions that directly or indirectly result from any of the following:

• self-destruction while sane or insane, participation in a fight or affray, being under the influence of alcohol or a non-prescribed drug
• war, service in armed forces in time of war or restoration of public order, riot, industrial action, terrorist activity, violation or attempted violation of the law or resistance to arrest
• racing on wheels or horse, participation in scuba diving
• ptomaines or bacterial infection (except pyogenic infection occurring through an accidental cut or wound)
• air travel, including entering, exiting, operating, servicing or being transported by any aerial device or conveyance (except as a passenger of a commercial passenger airline on a regular scheduled passenger trip over its established passenger route)
  The above list is for reference only. Please refer to the policy contract of this plan for the complete list and details of exclusions.

 

Note for Health Impairment Option

• All designations made by you under the Health Impairment Option will be automatically revoked when one of the following happens (unless such actions (ii) to (iii) below have been made pursuant to this option):
  i. we are notified of the death of the insured;
  ii. any change of policy owner or the insured of the policy; or
  iii. exercising any of the benefits or options of the policy or withdraw any policy value from the policy which triggers a reduction of the principal amount of the policy.
• The Health Impairment Option will be cancelled and revoked when one of the following happens:
  (a) we are notified or become aware that the policy owner has been adjudged bankrupt or bankruptcy proceedings have been initiated against the policy owner; or
  (b) we are notified or become aware that there is a guardian or committee appointed under the Mental Health Ordinance (Cap. 136 of the Laws of Hong Kong) or an attorney appointed by the policy owner pursuant to an enduring power of attorney covering the policy (except if we have received the written consent of such guardian, committee or attorney (as the case may be) for us to make the benefit payment to the designated payment recipient and/or to make the ownership transfer to the designated ownership recipient).
  Prior to the occurrence of any of the above events (a) and (b), if we have already paid the benefit payment to the designated payment recipient or if we have already made the ownership transfer to the designated ownership recipient pursuant to this option, such payment or ownership transfer shall not be cancelled or reversed, and we shall not be liable to the policy owner, the designated ownership recipient, the designated payment recipient, the beneficiary(ies), guardian, committee, attorney and/or any other person as a result of payment or ownership transfer made under this option.
• We have the right to revoke the designation of the designated payment recipient or the designated ownership recipient, or to withhold or reject the payment or transfer of ownership under this option, if such designation or payment or transfer of ownership may constitute a breach of or conflict with any law or may render us to incur or potentially incur any liability.
• If there is (or in our reasonable belief there is) a dispute between the designated payment recipient, designated ownership recipient, beneficiary(ies), guardian, committee, attorney and/or any other person, we have the right to withhold the payment or transfer of ownership under this option until such dispute or matter is resolved to our satisfaction.
• Once we have paid the benefit payment to the designated payment recipient or we have made the ownership transfer to the designated ownership recipient in the event the policy owner is diagnosed with a Specified Illness under Health Impairment Option or as a permanent mentally incapacitated person, such payment or ownership transfer cannot be cancelled or reversed even if the policy owner subsequently recovered from such illness.

 

 

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 1 year from the date on which the policy takes effect, our liability will be limited to the refund of the single premium paid for this plan (without interest) less all amount you owe us and any outstanding debt.

After exercising the Change of Insured Option or upon the contingent insured becoming the new insured, if the new insured commits suicide within 1 year from the effective date of change as recorded by us, our liability will be limited to (i) the refund of the single premium paid for this plan (without interest) or (ii) the sum of guaranteed cash value, Terminal Dividend (if any) and remaining balance of the Terminal Dividend Lock-in Account (if any), whichever is higher, calculated as at the date the new insured passes away. We will deduct all amount you owe us and any outstanding debt before making such payment.

 

Incontestability

Except for fraud, 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 two years from the date on which the policy takes effect. After exercising the Change of Insured Option or upon the contingent insured becoming the new insured, such two-year period will be counted again starting from the effective date of change as recorded by us.

 

Warning Statement and Cancellation Right (Applicable to Principal Policy)

Wealth Generation 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.
• 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 dividend, interests) 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.
• 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. Should you surrender the policy early, the total surrender value (if any) you get back may be less than the total premium you have paid. You may suffer a loss in case of early termination of this policy.
  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 dividend scale – non-guaranteed benefits are based on the dividend 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 dividend you will receive. Under some circumstances, the non-guaranteed benefits may be zero.