AIA ProsperLife Insurance Plan provides whole life protection. In the unfortunate event the insured passes away, AIA will pay the death benefit to your chosen beneficiary(ies), giving them a financial shield when they need it most.

Death benefit
The higher of:

• i. sum assured of the basic plan; and
• ii. 101% of the total premiums paid for the basic plan,
  together with the non-guaranteed Terminal Dividend (if any).

AIA will deduct all amount you owe AIA and all outstanding debt (if any) under your policy before AIA make the payment to the beneficiary(ies).

AIA ProsperLife Insurance Plan provides enhanced protection with Accidental Death Benefit (ProsperLife) Rider and Waiver of Premium Ride (Basic Plan).

Accidental Death Benefit (ProsperLife) Rider
In the unfortunate event the insured passes away due to a covered accident on or before the earlier of (i) the end of the 15th policy year and (ii) age 75 of the insured^▲, the Accidental Death Benefit (ProsperLife) Rider provides extra support with accidental death benefit, which is equal to 200% of the sum assured of the basic plan, subject to the limit that no more than US$1,000,000 can be claimed for accidental death benefit with respect to the same insured under all Accidental Death Benefit (ProsperLife) Riders. The Accidental Death Benefit (ProsperLife) Rider is subject to underwriting assessment and exclusions, and its eligibility depends on AIA’s underwriting decision.

Waiver of Premium Ride (Basic Plan)
To provide support in unfortunate circumstances, AIA will waive the future premiums for the AIA ProsperLife Insurance Plan if the insured becomes totally and permanently disabled before the age of 60.

Note:
The Accidental Death Benefit (ProsperLife) Rider and Waiver of Premium Rider (Basic Plan) are subject to underwriting assessment and exclusions, and the eligibility of each rider depends on AIA’s underwriting decision. The underwriting decision shall be determined by AIA at its sole discretion.

^▲ For Accidental Death Benefit (ProsperLife) Rider, “age 75 of the insured” refers to the policy anniversary on or immediately following the insured’s 75th birthday.

Death Benefit Settlement Option
You can customise the Death Benefit Settlement Option to address the unique needs of each beneficiary in receiving the death benefit and accidental death benefit (if applicable). 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.

Beneficiary Flexi Option
If you have selected the Death Benefit Settlement Option, you may also select the Beneficiary Flexi Option. Under the Beneficiary Flexi Option, upon the beneficiary attaining the designated age selected 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 applicable) according to his / her selected settlement option.

AIA ProsperLife Insurance Plan is a participating whole life insurance plan with guaranteed and non-guaranteed returns. The plan offers guaranteed cash value, and once the policy has been in force for 3 years, AIA may provide a non-guaranteed Terminal Dividend if you surrender the policy or the insured passes away. This enables you to prepare for each new stage of life with confidence.

You may request for partial surrender to access part of the guaranteed cash value and part of the non-guaranteed Terminal Dividend (if any) of your policy in the form of partial surrender benefit, however this will reduce the sum assured of your policy^#.

Flexi Transfer Arrangement
From the earlier of (i) the end of the 10th policy year and (ii) the end of the premium payment term of your basic plan, provided there is no outstanding debt under your policy, you can apply to set up instruction to withdraw policy values from your policy on a regular basis during a period as specified by you (“Withdrawal Instruction”), and to designate a payments recipient (“Payments Recipient”) to receive such withdrawal payments. Your application is subject to AIA’s approval at its sole and absolute discretion, applicable laws and our prevailing rules and conditions.

^#The subsequent guaranteed cash value, Terminal Dividend (if any) and the total premiums paid for the basic plan (as used in the calculation of the death benefit) will all be reduced based on the reduced sum assured, and that any Terminal Dividend which AIA may declare subsequently will be reduced accordingly. Therefore, partial surrender will reduce the death benefit, the accidental death benefit (if applicable), the surrender benefit and the value as well as the sustainability and potential growth of the value of your policy. The actual partial surrender benefit amount may vary according to the actual non-guaranteed Terminal Dividend (if any).

AIA will distribute the profit generated from this product group by declaring a non-guaranteed Reversionary Bonus and a non-guaranteed Terminal Bonus to you at least once per year starting from the end of the 3rd policy year.

The AIA Bonus Power Life Insurance Plan 2 (Enhanced Protection) also offers the opportunity for long term capital growth in the form of:

1. guaranteed cash value;
2. non-guaranteed cash value of the Reversionary Bonus (if any); plus
3. non-guaranteed cash value of the Terminal Bonus (if any).

To enhance your financial flexibility, the AIA Bonus Power Life Insurance Plan 2 (Enhanced Protection) offers you the option of cashing out all or part of the bonuses or withdrawing any cash value by reducing the sum assured of your policy. After withdrawal, the future value of the policy and death benefit will be reduced.

You can borrow up to 90% of the total guaranteed cash value of the policy plus the non-guaranteed cash value of Reversionary Bonus (if any). Interest on a policy loan will be charged at a rate solely determined by AIA.

If the insured, who is the person protected under the policy, passes away, AIA will pay the death benefit to the person whom you select in your policy as beneficiary. The death benefit will include:

1. the sum assured of your basic plan;
2. the face value of Reversionary Bonus (if any); plus
3. the face value of Terminal Bonus (if any).

AIA will deduct all outstanding debt and any benefits paid under this policy before making the payment to the beneficiary.

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 AIA to accumulate at the non-guaranteed interest rate determined by AIA, until the full amount of benefit 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.

To give you extra leverage should misfortune strike, the AIA Bonus Power Life Insurance Plan 2 (Enhanced Protection) will provide you with a series of advance payments, which will be advanced from the sum assured and the face values of Reversionary Bonus (if any) and Terminal Bonus (if any) in your policy. Two different benefits are payable under the following circumstances:

1. Total and Permanent Disability Benefit: If the insured is diagnosed with a total and permanent disability or suffer loss of limbs or irrecoverable loss of sight before the age of 65. The offer of the Total and Permanent Disability Benefit will be subject to AIA’s underwriting decision.
2. Caring Benefit: If the insured is diagnosed with Alzheimer’s disease, Parkinson’s disease or loss of independent existence, such as being permanently unable to perform daily activities, before the age of 85.

Payments for the Total and Permanent Disability Benefit and Caring Benefit

First 30 months following your diagnosis:

For as long as the diagnosed condition persists, AIA will make monthly advance payments equal to 1% of the sum of the sum assured and the face value of Reversionary Bonus (if any) in your policy as at the date of commencement of the disability or the date of diagnosis, plus the corresponding face value of Terminal Bonus (if any).

30 months after your diagnosis:

Provided that the diagnosed condition persists, AIA will pay you the remainder of the sum assured and the face values of Reversionary Bonus (if any) and Terminal Bonus (if any) in a lump sum. You will receive this at the end of the 30th month after the date of commencement of the disability or the date of diagnosis.

In addition, AIA will waive the future premiums for the basic plan if you are diagnosed with any of the above conditions, keeping the policy in force and setting your family at ease.

AIA will not pay the Total and Permanent Disability Benefit and Caring Benefit at the same time. The maximum aggregate amount of each benefit payable to the same insured under this policy and any other policies, and / or add-on plans is US$1.25 million. AIA will deduct all outstanding debt under your policy before making the advance payments

If the person protected under the policy passes away, the death benefit will be paid to the beneficiary. The death benefit will include:

1. the sum assured of the policy;
2. non-guaranteed Annual Dividends which have accumulated with interest under the policy; plus
3. a one-off non-guaranteed Terminal Dividend (if any), provided that the policy has been in force for 5 years (for a one-time premium payment policy) or 10 years (for a policy other than one-time premium payment)

All outstanding debt under the policy will be deducted before making the above payment to the policy beneficiary.

The plan will provide guaranteed cash value, non-guaranteed Annual Dividends (if any) and a one-off non-guaranteed Terminal Dividend (if any)

If the insured becomes totally and permanently disabled before the age of 60, future premium for Admire Life Insurance Plan 2 will be waived. If the insured is from the People’s Republic of China or is a juvenile, the plan will waive the future premium in the event of presumptive disability.
Subject to underwriting decision.

5 choices of premium payment terms to suit your needs including one-time premium payment or regular premium payment of 5 / 10 / 18 / 25 years

As the chapters of your life unfold, AIA Wealth Elite Life Insurance Plan 3 stands with you for the duration — a policy designed to remain in force across a lifetime.

In the unfortunate event that the insured passes away, AIA will pay the death benefit to your chosen beneficiary(ies), giving them a financial shield when they need it most.

If the insured passed away, AIA will pay a death benefit as follows^#:

AIA will deduct all amount you owe AIA and all outstanding debt (if any) under your policy before AIA makes the payment to the beneficiary(ies).

^#Based on AIA’s underwriting, if the medical rating of the insured is sub-standard, the guaranteed portion of the death benefit will be adjusted at AIA’s sole discretion. The guaranteed portion of the death benefit is subject to reduction according to a predefined scale based on the insured’s medical rating. Please refer to the benefit illustration prepared based on the insured’s underwriting result for more details of the applicable death benefit.

In the unfortunate event that the insured passes away, AIA will pay the death benefit to the beneficiary(ies) whom you select in your policy, enabling your loved ones to receive the financial security you intend.

Death Benefit Settlement Option
You can also customise the Death Benefit Settlement Option to address the unique needs of each beneficiary in receiving the death benefit. 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.

Beneficiary Flexi Option
If you have selected the Death Benefit Settlement Option, you may also select the Beneficiary Flexi Option. Under the Beneficiary Flexi Option, upon the beneficiary attaining the designated age selected by you (“Designated Age”) or being diagnosed with a specified illness under Beneficiary Flexi Option at the age of 18 or above, 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 balance of the death benefit according to his / her selected settlement option.

AIA Wealth Elite Life Insurance Plan 3 helps you accumulate wealth by offering guaranteed cash value and, starting from the end of the 3rd policy year, AIA may at AIA’s sole discretion declare a non-guaranteed Terminal Bonus once per policy year, enabling you to build a reserve that strengthens as time goes on.

To enjoy flexible legacy planning, during the lifetime of the insured, the policy owner can designate a loved one as the contingent owner. In the event of the policy owner’s passing while the insured is alive, the ownership of the policy will be seamlessly transferred to the contingent owner if AIA has approved the contingent owner’s application for change of ownership, ensuring the ownership of the policy is managed according to the policy owner’s wish.

After 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 sum assured, 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.

AIA Wealth Elite Life Insurance Plan 3 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 under Health Impairment Option, 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 AIA’s approval of the application of a designated recipient, and subject to applicable laws and AIA’s prevailing rules and conditions, such 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 of 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.

AIA will deduct all amount you owe AIA and all outstanding debt (if any) under your policy before AIA makes any payment under this option.

Subject to AIA’s prevailing rules and conditions, you can plan in advance for additional life coverage amount which may be desired for the insured in the future by applying for the Pre-underwriting Option.

Your application is subject to the following conditions:

• The insured must be aged 60 or below.
• When you apply for the AIA Wealth Elite Life Insurance Plan 3 policy, you may also apply for the Pre-underwriting Option at the same time by having the insured undergo full medical underwriting with a specific total life coverage amount determined by you in advance, up to an aggregate limit of US$20,000,000, subject to AIA’s approval (“pre-underwriting limit”).
• Application for the Pre-underwriting Option and the pre-underwriting limit for the insured under this option are subject to AIA’s approval, AIA’s prevailing rules and conditions and the insured’s underwriting result including health assessment.
• If the insured’s underwriting result does not meet AIA’s requirements, AIA shall have the right to reject your application for the Pre-underwriting Option.

Once your application for the Pre-underwriting Option is approved, within 36 months from the date of AIA’s approval, you can apply for new policies of AIA Wealth Elite Life Insurance Plan 3 via simplified medical underwriting, as long as the total sum assured of all AIA Wealth Elite Life Insurance Plan 3 policies covering the same insured does not exceed the pre-underwriting limit that has been approved by AIA under this option and the insured meets AIA’s simplified medical underwriting requirements.

The Future Wishes Arrangement^♥ is a sophisticated and versatile solution designed to help you manage your legacy with unparalleled confidence and clarity. Future Wishes Arrangement allows you to pre-set instructions that may take effect upon the occurrence of a pivotal life event, such as death or health impairment conditions, so that your wealth planning decisions may be executed as envisioned.

Featuring enhanced flexibility, multi-layered succession settings and simplified administration, families are empowered to preserve and transfer wealth seamlessly to future generations.

Highlights:

Seamless wealth transfer to future generations

• Pre-defined succession planning with up to a maximum of two additional designated Contingent Owners and their sequence of succession, in case the 1st Contingent Owner is unable to become the new policy owner upon the death of the original policy owner
• Facilitate policy continuity under unforeseen circumstances

Long-term preservation of family wealth and harmony

• Structured legacy planning and clear instruction to provide clarity and control over your legacy
• Supports stable and orderly transfer of wealth to your loved ones

Thoughtful and flexible support for loved ones

• Customisable beneficiary and payout arrangements enable peace of mind

^♥ Future Wishes Arrangement is only available to specified insurance plans and designated policies which meet AIA’s eligibility requirements. The policy must be issued in Hong Kong and Transitional Owner Arrangement is not designated for or being exercised under the policy. It is not applicable to trust-owner policies. It is a value-added service and not a product feature, therefore it is not offered under the policy contract of AIA Wealth Elite Life Insurance Plan 3. Application is subject to AIA’s approval to be determined at AIA’s discretion. AIA reserves the right to withdraw the Future Wishes Arrangement or change its terms and conditions or any related requirements at any time at AIA’s sole and absolute discretion. Upon the designation of Future Wishes Arrangement for the policy, all designations of Contingent Owner, Designated Ownership Recipient and Designated Payment Recipient for the policy which have been made prior to the commencement of the Future Wishes Arrangement (if any) are automatically revoked.

Under the Transitional Owner Arrangement^▲, the policy owner 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. If the policy owner passes away while the insured is alive, the transitional owner will oversee the policy with limited administrative rights until the designated contingent owner takes over the ownership of the policy upon reaching the specified date or specified age as chosen by the policy owner.

^▲Transitional Owner Arrangement is only available to specified insurance plans and designated policies which meet AIA’s eligibility requirements. The policy must be issued in Hong Kong. It is a value-added service and not a product feature, therefore it is not offered under the policy contract of AIA Wealth Elite Life Insurance Plan 3. Application is subject to AIA’s approval to be determined at AIA’s discretion. AIA reserves the right to withdraw the Transitional Owner Arrangement or change its terms and conditions or any related requirements at any time at AIA’s sole and absolute discretion.