PRESS RELEASE

“AIA One Absolute – Full Protection” Defies Cover Boundaries Hong Kong's First “One Single Claims Index to Cover Unlimited Diseases” Determines Claims Based on the Severity of the Medical Journey with an Innovative Claims Calculation Transparent, Clear and Easy to Understand Get Insured Now and Enjoy 12 Months' Premium Refund HK$/MOP100M Reserved to Provide all Eligible Customers with Free Protection against Vaccination Side Effects Automatic “Unemployment Benefit” Offering

18 January 2021
AIA Hong Kong always answers the needs of the public and addresses their paramount concerns with concrete actions on different fronts. The Company today announced the launch of a brand-new product and two initiatives to provide staunch and timely support to the public, helping them to build a secure and wonderful future and live Healthier, Longer, Better Lives.
I) Brand-New “AIA One Absolute – Full Protection”

“AIA One Absolute – Full Protection” is Hong Kong's first protection plan that offers “One Single Claims Index to Cover Unlimited Diseases” including unknown diseases and injuries. Claims are calculated in four steps using an innovative 4x3 scoring table based on the severity of the insured's medical journey with respect to Surgery, Treatment, Intensive Hospital Stay and Disability, as well as its impact on the insured's daily life. Should the insured's condition be assessed to be extremely serious, the total claim payment could be up to 160% of the Sum Assured. “AIA One Absolute – Full Protection” features objective assessment factors, where the Surgery factor is derived mostly from the Voluntary Health Insurance Scheme Schedule of Surgical Procedures+, underlining a high degree of clarity and transparency.

The life expectancy of Hong Kong people is increasing. In the event of contracting serious illnesses such as cancer, stroke, heart disease or serious injury, the treatment process can be very long and may even affect one's daily life in the long run. Moreover, in the face of different and increasingly expensive treatments, the complexity of surgery, medications, time stayed in intensive care unit (ICU) and medical expenses are becoming increasingly uncertain. In order to further enhance protection and base on the severity of the insured's entire medical journey, “AIA One Absolute – Full Protection” has included the assessment of Disability that may be caused by the disease or injury and impacts on the daily life of the insured, hence making a more comprehensive calculation of the total benefit amount. In addition to existing illnesses and infectious diseases, the plan also covers an unlimited number of diseases. In other words, if a new serious infectious disease like COVID-19 or any new type of disease emerges in the future, it will also be covered as the plan is future-proof, bringing total peace of mind to customers.

Ms. Bonnie Tse, General Manager, Strategy and Wealth Management of AIA Hong Kong & Macau said, “With respect to Healthier Lives, many customers are concerned whether their illnesses are covered, and are worried about the financial pressure due to the high cost of treatment and long-term care. Reflecting on our “customer-centricity”, we launch today the “AIA One Absolute – Full Protection”, a forward-looking plan that defies the existing concept of claims criteria. Its innovative claims calculation method and its bold, ground-breaking cover of unlimited diseases are designed to bring total peace of mind to customers, despite the emergence of any unknown disease in the future. It also offers customers thoroughness, clarity and transparency in managing their budget for the entire medical journey, and addresses their concerns over the impact on their daily lives after treatment. We remain a reliable partner of our customers, helping them live Healthier, Longer, Better Lives.”

Multiple rewards await customers applying for the plan now. During the promotion period, successful application will enjoy 12 months' premium refund1, a permanent 20% premium discount upon a designated sum assured2, and an instant 10% discount on first-year premium upon joining AIA Vitality3.

Moreover, in order to support customers in facing the unsettling challenges posed by COVID-19 globally, if the insured of “AIA One Absolute – Full Protection” is diagnosed for the first time with COVID-19 in Hong Kong/Macau and stays in ICU in Hong Kong/Macau for 1 day or more, he/she will receive an additional lump-sum payment of HK$/MOP100,000 “Additional Intensive Care Unit Benefit”4.
II) HK$/MOP100M Reserved to Provide all Eligible Customers with “Free Vaccination Side Effect Cover”

AIA Hong Kong will provide “Free Vaccination Side Effect Cover”* to all eligible Hong Kong and Macau individual and group insurance customers (and their insured dependents). No registration is required to enjoy the protection. The “Free Vaccination Side Effect Cover” applies to all government-approved vaccines@ in Hong Kong and Macau, including the latest vaccines against COVID-19, seasonal influenza, Hepatitis B, etc. AIA Hong Kong has set aside a total benefit amount of HK$/MOP100M to provide this free cover to customers, covering Pre-hospitalisation Outpatient Benefit (HK$/MOP300), Hospital Cash Benefit (HK$/MOP800 per day, maximum 14 days) and Compassionate Benefit (HK$/MOP150,000).

“As for Longer Lives, we understand that everyone is highly concerned about infectious diseases. To further demonstrate our determination to provide customers with the most comprehensive protection, we are offering “Free Vaccination Side Effect Cover” at this critical moment, wholeheartedly safeguarding their health under the new normal,” Ms. Tse added.
III) Automatic “Unemployment Benefit” Offering for AIA Deferred Annuity Plan and Bonus Power Vantage Customers

In addition, AIA Hong Kong is providing AIA Deferred Annuity Plan and Bonus Power Vantage customers with “Unemployment Benefit”^ automatically. If the eligible policyholder is laid off and becomes involuntarily unemployed during the premium payment term of the basic plan, he/she will automatically receive “Unemployment Benefit” ^ that extends the grace period for premium payments from 31 days to one year.

“Better Lives require sufficient financial reserves. In facing the current challenging economic situation, we offer ‘Unemployment Benefit' specifically to customers of these two long-term wealth accumulation products. We hope the one-year extension of grace period for premium payments will relieve their short-term financial pressure, allowing them to continue with their plans for long-term savings and wealth accumulation,” Ms. Tse remarked.
From AIA Hong Kong & Macau: Ms. Bonnie Tse, General Manager, Strategy and Wealth Management (second from right); Mr. Felix Fung, Head of Product Strategy and Management (second from left); Mr. Ivan Choi, Director of Marketing and Business Planning (first from right); and Ms. Edith Yiu, Chief Brand and Communications Officer (first from left), at the “AIA One Absolute – Full Protection” Media Conference held today.
All information above is for reference only, and does not constitute any offer and/or insurance product recommendation. 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 or visit the website.
Remarks
  1. The promotion period is from now until 31 March 2021. New policies will entitle to premium refund equivalent to the first year annualised premium of the basic plan (i.e. 12 months), of which 6 months' premium refund will be arranged at the end of the first policy year, and 3 months' premium refund will be arranged at the end of the second and third policy year each time. Terms and conditions apply, please refer to aia.com.hk for details.
  2. The discount is only applicable to the standard premium of the basic plan and is not applicable to any extra premiums due to loading.
  3. 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. AIA Vitality is not an insurance product that falls under the jurisdiction of the insurance regulation. Annual membership fee is required for joining. 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 premium discount (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. 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, please visit aia.com.hk/aiavitality.
  4. The promotion period is from now until 31 March 2021. Terms and conditions apply, please refer to the promotion leaflet for details
    + This plan is not a Certified Plan under the Voluntary Health Insurance Scheme and the              premiums are not eligible for any tax deduction.
    * The promotion period is from now until 31 December 2021. For details of the Free                       Vaccination Side Effect Cover, please refer to the terms and conditions.
    @ Side effect is referring to Adverse Event Following Immunization (AEFI). Please refer to             clause B1 of the terms and conditions for the definition of "Adverse Event Following                   Immunization (AEFI)".
    ^  For customers who have successfully applied and submitted for AIA Deferred Annuity         Plan and/or Bonus Power Vantage (5/10 Years Premium Payment Term version) on or         before 31 March 2021, the policyholder can enjoy “Unemployment Benefit”. Existing         customers of the said plans are also eligible for “Unemployment Benefit” with         immediate     effect. The policyholder needs to claim for “Unemployment Benefit”         within 30 days of     his/her involuntary unemployment. Each policy is entitled to claim for       “Unemployment     Benefit” once only, and is required to submit relevant documentary         proofs. The     policyholder must have been employed under a continuous contract for         not less than 24     months before becoming involuntarily unemployed, and is eligible for         severance payment     in accordance with the relevant employment or labour ordinance         in Hong Kong or Macau     (according to the place of issuance of the policy). Please refer         to the promotion leaflet for details.
 
 
Appendix 1: “AIA One Absolute – Full Protection” Claims Criteria and Calculation

“AIA One Absolute – Full Protection” is a severity-based health protection insurance plan that offers life insurance and health protection based on the severity of one's medical journey and its impact on their life. This plan covers every disease and injury, and has the following key cover features:
Hong Kong's First “One Single Claims Index to Cover Unlimited Diseases”

The plan assesses the severity of the insured's medical journey based on four Severity Factors: Surgery, Treatment, Intensive Hospital Stay and Disability. It calculates the benefit amount through the innovative 4x3 scoring table and 4 steps. The four simple calculation steps are as follows:

  • Step 1 “Severity Score”: Severity is scored based on the four independent objective assessment factors of Surgery (mostly derived from the VHIS Schedule of Surgical Procedures), Treatment, Intensive Hospital Stay and Disability. Each factor will be assigned a score (1-4 points), with the “Severity Score”5 being the total of the four scores.
  • Step 2 “Extra Severity Score”: An Extra Severity Score6 will be assigned if the insured meets the criteria for a confirmed diagnosis of carcinoma-in-situ, cancer/ heart disease or injury/ brain disease or injury, or meets the criteria under Intensive Hospital Stay and/or Disability Factor due to any illness or injury.
  • Step 3 “Cumulative Severity Score”: The Cumulative Severity Score is the sum of the scores from Steps 1 and 2. The Cumulative Severity Score will determine the corresponding benefit amount7 which is up to 120% of Sum Assured for a Cumulative Severity Score of 9 points or above.
  • Step 4 “Extra Benefit on Extremely Serious Condition”: Evaluate again the Severity Level of Surgery, Treatment, Intensive Hospital Stay and Disability – an additional 20% or 40% of Sum Assured is payable as Extra Benefit on Extremely Serious Condition, making the total benefit amount as high as 160% of Sum Assured.
Appendix 2: Claim Case Example – COVID-198

Estimating the benefit amount for being infected with COVID-19 through the innovative 4x3 scoring table and 4 simple steps:
Appendix 3: Claim Case Example – Heart Failure8
Appendix 4: Claim Case Example – Breast Cancer8
Remarks
    5. Each Severity Factor will be calculated based on the highest Severity Score assigned to         current and all previous claims during the cover period.
    6. The above will be calculated based on the maximum Extra Severity Score assigned to         current and all previous claims. The maximum Extra Severity Score for each policy is +2         points.
    7. The maximum amount of claims for an individual cannot exceed         US$50,000/HK$400,000/MOP400,000 for Cumulative Severity Score of 3 and 4 points.
    8. This case is hypothetical and for illustrative purposes only. It assumes no previous claim         has been made. It does not constitute medical advice. You should seek independent         professional advice before making any decision on this matter.
About AIA Vitality
 
AIA Vitality# is a game changing 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 member+ to receive an instant 10% premium discount* or additional 10% coverage^ 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** or additional 10% coverage** each year. Simply by being active in daily life and having a healthy diet, you can earn points and upgrade your status for more offers and rewards.
 
+  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.
#  AIA Vitality is not an insurance product that falls under the jurisdiction of the insurance regulation. Annual membership fee is required for joining. 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 premium discount (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.
* 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, please visit aia.com.hk/aiavitality.
^ Extra cover means AIA Vitality Power Up Coverage, which 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. For details, please refer to aia.com.hk/aiavitality.
** To enjoy a 10% premium discount or to get 10% extra cover for death benefit or the major illness benefit, members must become Gold Members during their first year and maintain Gold Status from then on
 
About AIA Hong Kong and AIA Macau

AIA Hong Kong and AIA Macau are subsidiaries of AIA Group Limited. AIA Group Limited established its operations in Hong Kong in 1931. To date, we have over 19,800 AIA financial planners1, as well as an extensive network of brokerage and bancassurance partners. We serve over 3 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, mandatory provident fund, personal lines insurance to investment-linked products with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high net worth customers.
as at October 2020
AIA Hong Kong internal data includes Hong Kong and Macau's individual life, group insurance and pension customers (as at 31 March 2020)
AIA Hong Kong
Ms. Deronie Tan
+852 2881 4413
Bentley Communications Limited
Mr. Ian Li
+852 3960 1905