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AIA HONG KONG LAUNCHES AIA "PROTECT ELITE ULTRA" CRITICAL ILLNESS PROTECTION MARKET-FIRST FAMILY PROTECTION FEATURE SUPPORTS CUSTOMERS AND THEIR FAMILIES IN FIGHT AGAINST CRITICAL ILLNESS TOGETHER

5 February 2018

AIA Hong Kong today announced the launch of AIA “Protect Elite Ultra” critical illness protection. This brand new plan's first-in-the market family protection feature, which extends premium waiver cover to a parent or spouse, is the first of its kind in Hong Kong. Coupled with the Extended Carcinoma-in-situ and Early Stage Malignancy Benefit, it further helps Hong Kong people bridge their protection gap. AIA “Protect Elite Ultra” is a pioneering solution that encompasses life insurance, critical illness protection and savings, and serves as the strongest shield to support customers and their families in their fight against critical illness together.

Ms. Bonnie Tse, General Manager, Business Strategy & Marketing of AIA Hong Kong & Macau, said, “AIA Hong Kong is keen to undertake social responsibility and is dedicated to creating shared value, exemplifying our long-term commitment to the society, economy and the people of Hong Kong. We pledge in product innovation and stand by our customers through their health journey every step of the way, from prevention to protection and rehabilitation. Today, we take another step forward with the launch of AIA ‘Protect Elite Ultra' critical illness protection. This innovative solution, which includes first-in-the-market family protection feature, underscores AIA Hong Kong's commitment to shielding customers and their families from health challenges that may come their way and delivers our brand promise of helping people live longer, healthier and better lives.”

AIA “Protect Elite Ultra” critical illness protection offers an additional option for customers looking for critical illness protection with family cover and long-term savings. Key features and cover include:

1. First-in-the market family protection feature with no additional purchase¹ or health information required

Waiver of Premium on Death (Parents) (applicable to child policy): If either parent (the policy owner and/or the contingent owner) of the insured child passes away, the insured child will continue to enjoy protection without having to pay future premiums for the basic plan until the age of 25² . This enables customers to safeguard their children's future even in the face of adverse events;
Waiver of Premium on Death (Spouse) (applicable to adult policy): If the insured's spouse (either the policy owner or beneficiary), passes away, future premiums for the basic plan will be waived perpetually, while the cover will remain unchanged³. The waiver helps to ease the financial burden on customers through troubled times in life;
If there are changes in the family status, customers have the flexibility to reassign or change the policy owner, contingent owner or beneficiary⁴.

2. Market-leading critical illness protection

In Hong Kong, one in four men and one in five women are at serious risk of contracting cancer before turning 75⁵, thus the risk of developing cancer should not be neglected. In addition, the average annual cost to treat cancer is 64 times⁶ of treating ordinary illnesses, while early treatment increases the survival rate of cancer. Moreover, treatment costs are even higher in the case of cancer recurrence. Therefore, AIA Hong Kong has integrated comprehensive cancer protection into AIA “Protect Elite Ultra” critical illness protection, to help relieve customers' financial burden on long-term medical expenses.

Cancer Shield Benefit ─ Once the insured has claimed 100% of the Initial Sum Assured for any covered illnesses (including both cancer and non-cancer covered illnesses), he/she will continue to receive cover without having to pay further premium. Cancer Shield Benefit enhances cancer cover under the plan for the continuation, metastasis or recurrence of a previous cancer or a newly diagnosed cancer, paying up to 80%⁷ of the Initial Sum Assured for each of up to two cancers. Total benefits payable under the policy may reach up to 260%⁸ of the Initial Sum Assured, providing long-term financial support to help ease the burden along the insured's road to recovery;
Extended Carcinoma-in-situ and Early Stage Malignancy Benefit ─ If the insured is diagnosed with Carcinoma-in-situ and / or Early Stage Malignancy when 100% of the Initial Sum Assured is claimed for any covered illnesses, 20% of the Initial Sum Assured will be advanced from the first Cancer Shield Benefit to provide the insured with more financial support to receive treatment as soon as possible. No waiting period is required under this benefit, offering the insured an extra layer of protection⁹.

3. Other comprehensive protection

Cover for undetected congenital conditions in children ─ Insurance policies in the market typically do not cover congenital diseases, which may remain undetected for years and could develop into a critical illness. AIA “Protect Elite Ultra” critical illness protection solution provides insureds aged 0 to 17 with thorough cover for critical illnesses related to congenital diseases with symptoms which remain undetected at policy issue;
Cover for up to 115 illnesses ─ All-round cover for 58 critical illnesses (including 57 major illnesses and 1 minor illness), 44 early-stage critical illnesses and 13 severe child diseases.

In addition to taking care of customers' health protection needs, AIA “Protect Elite Ultra” critical illness protection also offers customers the opportunity for long-term wealth accumulation. The solution offers guaranteed cash value and non-guaranteed Annual Dividends. Such dividends (if any) are credited to the customers' policy at the end of each policy year once the basic policy has been in force for three years to give them additional liquidity, so they can enjoy extra cash flow along with all-around cover. Once the basic policy has been in force for five years, it also declares a non-guaranteed Terminal Bonus (if any) to the policy owners at least once per year. Policy owners may receive the Terminal Bonus in the circumstances of policy surrender, passing of the insured, or when the benefits for major illness, minor illness, early stage critical illness and / or severe child disease have been paid. If the insured passes away, the plan will pay the death benefit to the person whom the insured selects as the beneficiary.

It is better to prevent an illness from developing than having to treat one, therefore AIA Hong Kong actively encourages people to adopt a healthy lifestyle as their best protection against diseases. Moreover, AIA Hong Kong has made the new AIA “Protect Elite Ultra” critical illness protection the first product with savings element to be included in the portfolio of AIA Vitality selected insurance products. Customers who successfully apply for AIA “Protect Elite Ultra” critical illness protection and also become AIA Vitality members can instantly get 10% extra cover for life protection or major illness benefit immediately in the first year of their policies. Customers who are persistent in their pursuit of a healthy lifestyle can earn up to 15% extra cover. Simply by being active in daily life and maintaining a healthy diet, customers can earn AIA Vitality Points to enjoy exciting discounts and rewards¹⁰ offered by our partners.

From prevention to protection and rehabilitation, AIA Hong Kong stands by its customers every step of the way as they overcome every hurdle through different life stages while also cares for people in need in the community. AIA Hong Kong announces the donation of HK$600,000 to The Hong Kong Society for Rehabilitation. The donation will be used to support the Easy-Access Transport Services of the Society to provide barrier-free transport services for people who have mobility difficulties. This donation further reinforces AIA Hong Kong's belief in accompanying patients through their rehabilitation journey and providing support to those in need, thus further demonstrates its commitment in creating shared value for the society and be on everyone's side in their healthy journey.

Customers and their family members¹¹ who successfully apply for AIA “Protect Elite Ultra” critical illness protection and become AIA Vitality members before 31 March, will be eligible for a 3.5-month premium refund¹², in addition to an instant 10% extra cover for life protection or major illness benefit immediately in the first year of their policies.

Appendix

You can learn more about the product features of AIA “Protect Elite Ultra” by watching the following videos:

1. AIA “Protect Elite Ultra” (Family)
https://youtu.be/DYvZCTzPeMc

2. AIA “Protect Elite Ultra” (Husband and Wife)
https://youtu.be/kDFrKp8TT64

3. AIA “Protect Elite Ultra” x AIA Vitality
https://youtu.be/m0X1ubGeDUA

Ms. Bonnie Tse, General Manager, Business Strategy & Marketing of AIA Hong Kong & Macau (middle),
Ms. Edith Yiu, Chief Brand and Communications Officer of AIA Hong Kong and Macau (left); and
Mr. Felix Fung, Head of Product Strategy & Management of AIA Hong Kong & Macau (right) said AIA
Hong Kong is keen to undertake social responsibility and is dedicated to creating shared value. The
Company's pledge in product innovation sees the launch of AIA “Protect Elite Ultra” critical illness
protection. This innovative solution, which includes first-in-the-market family protection feature,
underscores AIA Hong Kong's commitment in supporting customers and their families in fighting
critical illnesses together.

On behalf of AIA Hong Kong, Ms. Bonnie Tse, General Manager, Business Strategy & Marketing of
AIA Hong Kong & Macau (left) makes a donation of HK$600,000 to The Hong Kong Society for
Rehabilitation to support those in need through their rehabilitation journey.
The donation cheque was received by Dr. Kar-Wai Tong, Deputy Chief Executive Officer of
The Hong Kong Society for Rehabilitation (right).

Notes:

¹ Additional payment is required if the policy owner is to purchase Payor Benefit Rider or Critical Illness Payor Benefit Rider Pro for the insured child.

²This benefit will become effective once the policy has been in force for 2 years, provided that the parent of an insured child was at or below the age of 50 at the time of policy application. If the parent of an insured child passes away before the age of 75, the insured child will continue to enjoy protection without having to pay future premiums for the basic plan until the age of 25.

³This benefit will become effective once the policy has been in force for 2 years, provided that the spouse of an insured adult was at or below the age of 50 at the time of policy application. If the spouse of an insured adult passes away before the age of 75, the future premiums of “Protect Elite Ultra” will be waived. The spouse of the insured must be the policy owner or beneficiary (sole beneficiary or one of the beneficiaries).

⁴ May reassign a new family member who is at or below the age of 50 as the policy owner, contingent owner (if any) or beneficiary any time while the policy is in effect. The existing waiver of premium benefit will be suspended for a period of 2 years from the effective date of the relevant reassignment, after which it will resume, subject to the age and relationship requirements described above.

⁵ Overview of Hong Kong Cancer Statistics of 2015, Hong Kong Cancer Registry, Hospital Authority Website. (http://www3.ha.org.hk/cancereg/pdf/overview/Summary%20of%20CanStat%202015.pdf) The information is extracted from AIA's Research of Critical Illness Trends and Medical Expenses by GfK Hong Kong, an independent market research company (data collection date: November 2017).

⁶ Comparison of treatment cost based on average treatment cost of colorectal cancer, lung cancer and breast cancer in a year (assumed treated by surgery, radiation therapy or chemotherapy and targeted therapies) and ordinary illnesses (assumed to be episodic diseases with relatively mild symptoms treated during a hospital stay, such as gastroenteritis). Charges of Union Hospital and news reports. The information is extracted from AIA's Research of Critical Illness Trends and Medical Expenses by GfK Hong Kong, an independent market research company (data collection date: April 2017).

⁷ This benefit is subject to a survival period of 15 days from the date of diagnosis and a waiting period, the length of which depends on the last covered illness claimed. The cover period is up until age 85 of the insured.

⁸ Excluding a non-guaranteed Terminal Bonus (if any) to be distributed along with the first claim.

⁹ This benefit is subject to a survival period of 15 days from the date of diagnosis and a waiting period, the length of which depends on the last covered illness claimed. The cover period is up until age 85 of the insured. These benefits are subject to a maximum of HK$400,000/US$50,000 per life for each illness. Diagnosis should be the continuation, metastasis or recurrence of the previous cancer or a new cancer. The waiting period will be 1 year if the first diagnosis disease is major illness other than cancer and 3 years if the first diagnosis disease is cancer. No waiting period is required if the first claim is Carcinoma-in-situ / Early Stage Malignancy.

¹⁰ The applicants for AIA Vitality must be 18 years old or above and must be the insured of the in-force AIA Vitality Series insurance policy. AIA Vitality Power Up Coverage is a percentage of Initial Sum Assured added for the sole purpose of computing the death benefit or the major illness benefit for all when it becomes payable. AIA Vitality Power Up Coverage percentage is in the range of 0% - 15%. After the 20th policy anniversary, the extra coverage percentage the insured could get is taken from the snapshot of the AIA Vitality Power Up Coverage percentage (if any) as at the 20th policy anniversary. It would not be available if the AIA Vitality membership is terminated for any reason or the designated policy is converted to Reduced Paid-Up Insurance or Extended Term Insurance. The annual membership fee for AIA Vitality is HK$/MOP300. It is not an insurance product that falls under the jurisdiction of the insurance regulation. The annual membership fee of AIA Vitality may change at any time without prior notice. Please visit AIA Hong Kong's website: aia.com.hk “AIA Vitality” for more information.

¹¹ Family members include spouse, children, parents, siblings, parents-in-law, children-in-law, grandparents and grandchildren.

¹² Maximum premium refund is subject to successful application of 5 family members. Please refer to the promotional leaflet for details.

The above information is for reference only. For the details on the product features, content and conditions, please refer to the product brochure and the terms & conditions of the policy contract.

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 14,300 AIA financial planners¹, as well as an extensive network of brokerage and bancassurance partners. We serve more than 2.7 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.

¹ as at 30 June 2017 ² as at 31 January 2017

About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.

The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$200 billion as of 31 May 2017.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

AIA Hong Kong
Ms Deronie Tan
+852 2881 4413

Bentley Communications Limited
Mr. Kevin Chan
+852 3960 1903

AIA HONG KONG LAUNCHES AIA "PROTECT ELITE ULTRA" CRITICAL ILLNESS PROTECTION MARKET-FIRST FAMILY PROTECTION FEATURE SUPPORTS CUSTOMERS AND THEIR FAMILIES IN FIGHT AGAINST CRITICAL ILLNESS TOGETHER

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