AIA Hong Kong announces the launch of the AIA "Global Power Multi-Currency Plan 2", an enhanced plan of the well-received AIA "Global Power Multi-Currency Plan" introduced last year. The new plan features multiple new options offering extra flexibility, including the first-in-market* "Bonus Unlock Option"1 where customers can choose to reallocate locked-in bonuses according to their financial needs to enjoy potential returns. AIA "Global Power Multi-Currency Plan 2" helps customers further explore attractive potential returns in the long run, with total internal rate of return (Total IRR) for specific policy currencies expected to exceed 7%2 at the end of the 100th policy year. Moreover, the new plan's "Policy Split Option"3 enables customers to divide their policy into two individual policies each time they exercise the option for extra flexibility in legacy planning. This is a first-in-market# insurance savings plan that offers seven currency choices and the "Currency Exchange Option"4, which allows customers to change their policy currency to another currency while at the same time exchanging their plan to the latest plan under the Global Power Series available at the time to suit their personal needs and enable them to seize global opportunities.
In addition, AIA "Global Power Multi-Currency Plan 2" provides customers with a choice of three premium payment terms and the "Extension of Grace Period Benefit"5, which allows customers to delay premium payment up to 365 days, among other benefits, catering to their personal financial plans and changing needs at different life stages. Customers who successfully apply for the AIA "Global Power Multi-Currency Plan 2" can enjoy up to 25% premium refund6.
Ms. Alice Liang, Chief Proposition Officer of AIA Hong Kong & Macau, said, "We recognise plans and goals will evolve at different life stages in the ever-changing world. A survey revealed a 40% jump7 in the number of students pursuing further studies outside of Hong Kong in the past two years, and the total expenditure for overseas education can be well over HK$1 million8. Moreover, the latest 'AIA Desired Retirement Tracker' survey showed that 67% of respondents do not have sufficient retirement funds with a savings shortfall as high as HK$2.3 million9. The AIA 'Global Power Multi-Currency Plan' rolled out last year, which addressed customers' specific needs for lifelong planning and demand for multi-currency, was met with overwhelming response. The AIA 'Global Power Multi-Currency Plan 2' we launch today is a stepped-up series with various enhancements and options that offer extra flexibility, including the first-in-market* 'Bonus Unlock Option'1 and the newly-added 'Policy Split Option'3, to suit customers' changes in life stages and needs. The projected return is very competitive – whether it's for children to study abroad, legacy or retirement planning, the new plan will further support customers in capturing global currency opportunities to grow their wealth over the long run and achieve their various goals in life."
The AIA "Global Power Multi-Currency Plan 2" is a participating whole-life insurance plan under the Global Power Series, covering the entire lifespan of the insured. Its key features include:
- First-in-market* Bonus Unlock Option1
- Total IRR Expected to Exceed 7%2 at the end of the 100th policy year
- Newly-added "Policy Split Option"3
- Three premium payment term options
- Extension of Grace Period Benefit4