The Bank of East Asia

Insurance, MPF & Trust

Underwritten by AIA International Limited

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PLAN FOR EVERY STAGE IN YOUR LIFE

Certain protection in an uncertain world. Join AIA Vitality and receive an instant 10% premium discount and an array of rewards and discounts that help you live a healthier lifestyle.

Life is unpredictable. As a breadwinner, you will always worry about the wellbeing of your family when mishap unexpectedly happens.

That is why we have specially designed Wisdom Term Life Plan, a life protection insurance plan that provides you and your family with ample protection at affordable premiums, which are guaranteed to remain unchanged within each renewal period. The plan is also guaranteed to be renewable at the end of each renewal period up to the age of 85. In addition, as your need of life insurance may change over time, our Super Lifestage Option provides you with the flexibility to purchase additional term insurance cover at milestone events in your life.


Different options to suit your needs

Wisdom Term Life Plan provides 3 renewal periods for you to choose from: 1 year, 5 years and 20 years.

This plan is also available as a basic plan or an add-on plan. Pick one that best suits your needs so that you can plan ahead.

Renewal Period 1 year 5 years 20 years
Basic Plan
Insured's Age at Application Age 16 - 70 Age 16 - 70 Age 16 - 65
Add-on Plan
Insured's Age at Application 15 days to age 70 15 days to age 70 15 days to age 65


Protection for your loved ones

If the insured, who is the person protected under the policy, passes away, we will pay the death benefit to the person whom you select in your policy as beneficiary. The death benefit will be equal to 100% of the sum assured.

We will deduct all outstanding amount you owe to us under your policy before we make the payment to the beneficiary.


Super Lifestage Option

You may need better life insurance protection when you enter another stage of life. Wisdom Term Life Plan offers you an option to purchase an additional term life insurance plan in the form of add-on plan without requiring further health information upon any of the following milestone events:

You may exercise the Super Lifestage Option:

The sum assured of each new add-on plan cannot exceed:

whichever is lower.

Eligibility of this benefit is subject to underwriting requirements determined by us from time to time.


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, equal to 100% of the sum assured will be paid as Terminal Illness Benefit to help you alleviate the financial burden of medical expenses. The sum assured will be reduced accordingly  after the advance payment is paid. The maximum aggregate amount of payment made by us under all terminal illness benefit(s) issued by us will be US$2,000,000 or HK$15,000,000 for the same insured. Eligibility of this benefit is subject to underwriting requirements determined by us from time to time.

Terminal Illness Benefit is applicable to basic plan only. 


Guaranteed Renewal

Wisdom Term Life Plan guarantees that your premium will not be increased because of any changes in your health condition within each renewal period. This cover is guaranteed to be renewable at the end of each renewal period up to the age of 85 of the insured. Renewal premium of next renewal period will be based on the prevailing premium rates for the age of the insured at the time of renewal (Please refer to the “Premium Adjustment” under Important Information).


Conversion Privilege

On or before the anniversary of cover immediately following the insured’s 70th birthday, the plan can be converted into a whole life protection insurance plan without requiring additional health information, subject to increase in premium and choices of products then made available for the purpose of this privilege.


A currency that suits you

For your convenience, we offer this policy in US dollars and HK dollars. If the policy is issued in Macau, you can also choose Macau pataca as the currency.


AIA Vitality

Earn rewards for your healthy lifestyle.

AIA Vitality is a wellness programme which redefines the traditional concept of insurance, aims to reward customers to live a healthy lifestyle.

Purchase a selected AIA Vitality insurance product and be an AIA Vitality member1 to receive an instant 10% premium discount2 and an array of rewards and discounts offered by our partners. As long as you keep up a healthy lifestyle, you can even enjoy a minimum 10% premium discount 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 rewards5 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 joining6. Moreover, the cover of the insured under the policy shall remain unchanged no matter whether the customer chooses to join AIA Vitality or not. For details and terms and conditions of the AIA Vitality membership and membership fee, please visit “How to join” section under www.aia.com.hk/aiavitality.

The more you engage with AIA Vitality, the more AIA Vitality Points you earn and the higher your AIA Vitality Status, leading to greater extra cover, lifestyle rewards and offers and a healthier you.

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. Premium discount is only applicable to the standard premiums of selected AIA Vitality insurance products (including basic and add-on plans) and shall not apply to any extra premiums due to loading. In all circumstances, the premium discount 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 aia.com.hk/aiavitality.
  3. To enjoy a 10% premium discount each year, members must become Gold Members during their first year and maintain Gold Status from then on.
  4. Members will enjoy 15% premium discount in the subsequent year of policy renewal if they currently enjoy 10% premium discount and maintain the Platinum Status for 5 consecutive years.
  5. 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.
  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. 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.
  7. If the insured joins (or has already joined) AIA Vitality as a member, he / she can enjoy an instant 10% premium discount of first-year insurance premium when purchasing a selected AIA Vitality insurance product with premium discount. Upon subsequent AIA Vitality membership renewal, members can continue to enjoy the premium discount, this discount adjustment could increase or decrease according to the member’s AIA Vitality Status and the applicable insurance premium adjustment percentage. The higher the AIA Vitality Status, the greater the percentage of discount the member will enjoy. The AIA Vitality Insurance Premium Discount Percentage is capped at 15% and floored at 0%. Please refer to the policy contract for the exact and complete terms and conditions.
  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 Insurance Premium Discount is only applicable to the specific Basic Policy or Supplementary Contract named under this product brochure. The AIA Vitality Insurance Premium Discount is not extended to any other policies or supplementary contracts unless it is specifically stated otherwise.
  3. The AIA Vitality Insurance Premium Discount Percentage is capped at 15% and floored at 0%.
  4. The Insured has to be an AIA Vitality member in order to enjoy the AIA Vitality Insurance Premium Discount.
  5. 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 Insurance Premium Discount (if any) in the subsequent policy years.
  6. If the AIA Vitality member is insured by more than one policy or supplementary contract under the AIA Vitality Series, the AIA Vitality Insurance Premium Discount or AIA Vitality Power Up Coverage applied, as the case may be, should be calculated independently for each policy or supplementary contract. For the avoidance of doubt, AIA Vitality Insurance Premium Discount and AIA Vitality Power Up Coverage are mutually exclusive. Please check the illustration of each policy or supplementary contract to find out which one applies.
  7. Whether to apply for AIA Vitality is your / the insured’s own individual decision.
  8. 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, premium discount).
  9. 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 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.

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

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

This plan is an insurance plan without any savings element. All premiums are paid for the insurance and related costs.

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.


Key Product Risks

  1. You need to pay the premium for this plan till age 85; or for this add-on plan until age 85 or when the basic plan it is attached to is terminated, whichever is earlier. If you do not pay the premium within 31 days of the premium due date, the policy will be terminated and you / the insured will lose the cover.
  2. We will terminate your policy and you / the insured will lose the cover when one of the following happens:
    • the insured passes away;
    • the Terminal Illness Benefit is paid and the sum assured under this policy is fully paid in advance;
    • you do not pay the premium within 31 days of the premium due date;
    • when you take this plan as an add-on plan of any basic plan which has been terminated or converted to a nonparticipating insurance plan; or
    • anniversary of your cover immediately following the insured’s 85th birthday.
  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 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.
  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.
  6. Total premiums payable may be greater than the sum assured.

Key Exclusions

Under this plan, we will not cover any terminal illnesses that result from any of the following events:

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:


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 amount you owe to us under the policy.


Incontestability

Except for fraud or non-payment of premiums, we will not contest the validity of this policy after it has been in force during the lifetime of the insured for a continuous period of 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

Wisdom Term Life Plan is a term life insurance plan without any savings element. All premiums are paid 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, you will not receive the refund of premiums paid.


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


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