Wealth Preserver 5 Offer
- successfully submitted and applied within the Promotion Period (based on the application date); and
- paid full premium and issued the policy on or before 31st March, 2023.
- For the avoidance of doubt, there will be no reduction on the premium charge on any additional premium received after 31st March 2023 (i.e. and therefore the premium charge will remain at 6.5%).
Plan Highlights
- Flexible premium Payments
You can choose to pay your premium either in one lump sum or over a set period annually, or you can pay additional premiums anytime, provided that you satisfy the minimum and maximum premium requirements. The minimum premium requirement is checked annually for the first five policy years. The total premiums paid, less any withdrawals you make, must be more than the minimum premium amount to ensure there is sufficient value to maintain your policy. The maximum premium requirement is based on underwriting requirements determined by us from time to time. -
Life insurance protection
Death Benefit - Upon the death of the insured, the death benefit will allow your legacy to be quickly and reliably transferred.
Settlement Option - Apart from a lump sum payment, if you wish your beneficiary to take the amount of death benefit in regular instalments, the plan provides a settlement option available to you. You can select specific amounts of benefit to be paid to your beneficiary at regular intervals chosen by you, provided that the total annual payment is at least equal to 2% of the death benefit. Remaining amount of benefit will be left in our company to accumulate at the non-guaranteed interest rate determined by us, until the full amount of benefits has been paid to the beneficiary.
The death benefit settlement option is not available if the death benefit payable is less than US$50,000.
Terminal Illness Benefit - In the unfortunate event that the insured is expected to pass away within 12 months due to a terminal illness, as confirmed by both the registered medical practitioner in the appropriate medical specialty and our appointed registered medical practitioner, a one-off advance payment will be paid as Terminal Illness Benefit.
The maximum aggregate amount of the payment made by us under the Terminal Illness Benefit is US$2 million Sum at Risk for the same insured. If the Sum at Risk exceeds US$2 million, this benefit will equal US$2 million, and the cover will continue with US$2 million deducted from the Current Sum Assured. Otherwise, if the Sum at Risk is less than or equal to US$2 million, this benefit will equal the death benefit, and the cover will terminate since the death benefit is fully paid in advance. -
Adjustable protection
To ensure that your policy continues to meet your needs, you have the option of adjusting your policy cover after the second policy year.
Notes:
- “We”, “our”, or “us” herein refers to AIA International Limited (Incorporated in Bermuda with limited liability) ("AIA").
- The above product information in this material does not contain the full terms of the product, for the details of the product features, terms and conditions, exclusions and key product risks, you may refer to the product brochure and policy contract of relevant products. In case you want to read policy contract sample before making an application, you can obtain a copy from AIA. Life insurance policies are long-term contracts of insurance. Should you surrender the policy early, you may receive an amount considerably less than the total amount of premiums paid.
- We would like to remind you to review the relevant product materials and proposal illustrations (if applicable) provided to you and seek independent professional advice if necessary.
Important Notes:
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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.
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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. Wealth Preserver 5 is a universal life 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 surrender value may be substantially less than the total premium you have paid.
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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; however, any dispute over the contractual terms of the product should be resolved between AIA and the customer directly.
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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. non-guaranteed crediting interest rate) 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.
