Bonus Power Vantage

Insurance with Investment Focus

Period

Whole Life

Issue age

15 days - 80 years

You can buy this from

Your Financial Planner

WHAT THIS PRODUCT IS ABOUT

Financial planning is crucial. In order to bring your dreams to life, you need proper planning. Bonus Power Vantage can help you achieve your financial goals by accumulating wealth over time with potentially high returns. When the time is right, you can access your cash flexibly to build your child’s education fund, reach your retirement goals or plan your legacy for your loved ones. Offering one-time, 5-year or 10-year premium payment terms to suit your needs, Bonus Power Vantage brings your golden future closer than ever.

Limited time offer

5 years / 10 years premium payment term
– Enjoy up to 25% premium refund

One-Time Premium Payment
– Enjoy up to 6% premium discount

Terms & conditions apply. Details please download and refer to the promotion leaflet.

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Live the bright future you deserve

what does it provide?

HOW DOES IT WORK?

The Bonus Power Vantage is a participating insurance plan. We will distribute the profit generated from this product group by declaring non-guaranteed bonus(es) to your policy at least once per year starting from the end of the 3rd policy year.

We will declare Reversionary Bonus under policies with a 5-year or 10-year premium payment term, which is a non-guaranteed bonus, the face value of which forms a permanent addition to your policy once it is declared. The cash value of Reversionary Bonus may be cashed out or left to accumulate in your policy throughout its duration.

We will also declare a Terminal Bonus under all policies, which is a non-cumulative, non-guaranteed bonus, the amount of which is valid until the next declaration. The amount in each declaration may be greater or less than the previous amount based on a number of factors, including but not limited to investment returns and general market volatility.

If the worst should happen and the insured, who is the person protected under the policy, passes away, according to the death benefit calculation, we will pay the face values of any Reversionary Bonus accumulated (if applicable) and Terminal Bonus to the person whom you select in your policy as the beneficiary. Otherwise, upon the surrender or termination of your policy, we will pay any cash values that may have accumulated on any Reversionary Bonus (if applicable), and the cash value of Terminal Bonus under the policy. These cash values are not guaranteed.

The plan also offers the opportunity for potential long-term capital growth in the form of policy values. To suit your needs and your budget, you can choose different premium payment terms, which also offer different policy returns and death benefits.

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5-year or 10-year premium payment term for greater financial flexibility

We will declare non-guaranteed Reversionary Bonus and a non-guaranteed Terminal Bonus. Your policy values comprise the following:

i. guaranteed cash value; plus

ii. non-guaranteed cash value of the Reversionary Bonus; plus

iii. non-guaranteed cash value of the Terminal Bonus; plus

iv. any remaining balance of the Bonus Lock-in Account (if applicable).

To give you additional financial flexibility in times of need, you can borrow up to 90% of the total guaranteed cash value of the policy plus the non-guaranteed cash value of any Reversionary Bonus. Interest on a policy loan will be charged at a rate solely determined by us.

If the insured passes away and no contingent insured has become the new insured, we will pay the death benefit to the beneficiary. The death benefit will include the higher of:

i. 105% of the total premiums paid for the basic plan; and

ii. the sum of:

the guaranteed cash value of the policy;

the face value of any Reversionary Bonus in the policy; and

the face value of any Terminal Bonus in the policy; plus

any remaining balance of the Bonus Lock-in Account (if applicable).

We will deduct all outstanding debt under the policy before we make the payment to the beneficiary.

All premium payment terms also offer extra protection in the face of life’s challenges. If the insured passes away due to a covered accident within the first 12 months of the policy, the Bonus Power Vantage also pays a benefit equal to the total premiums paid or one-time premium paid (as applicable) for your basic plan, in addition to the above death benefit. The maximum aggregate amount of this benefit payable with respect to the same insured under all Bonus Power Vantage policies is US$100,000 and the benefit payable under each policy will be prorated according to its total premiums paid or one-time premium paid (as applicable).

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One-time premium payment term for peace of mind

We will declare a non-guaranteed Terminal Bonus. Your policy values comprise the following:

i. guaranteed cash value; plus

ii. non-guaranteed cash value of the Terminal Bonus; plus

iii. any remaining balance of the Bonus Lock-in Account (if applicable).

To give you additional financial flexibility in times of need, you can borrow up to the guaranteed cash value of the policy. Interest on a policy loan will be charged at a rate solely determined by us.

If the insured passes away and no contingent insured has become the new insured, we will pay the death benefit to the beneficiary. The death benefit will include the higher of:

i. 105% of the one-time premium paid for the basic plan; and

ii. the sum of:

the guaranteed cash value of the policy; and

the face value of any Terminal Bonus in the policy; plus

any remaining balance of the Bonus Lock-in Account (if applicable).

We will deduct all outstanding debt under the policy before we make the payment to the beneficiary.

All premium payment terms also offer extra protection in the face of life’s challenges. If the insured passes away due to a covered accident within the first 12 months of the policy, the Bonus Power Vantage also pays a benefit equal to the total premiums paid or one-time premium paid (as applicable) for your basic plan, in addition to the above death benefit. The maximum aggregate amount of this benefit payable with respect to the same insured under all Bonus Power Vantage policies is US$100,000 and the benefit payable under each policy will be prorated according to its total premiums paid or one-time premium paid (as applicable).

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Realise potential returns with Bonus Lock-in Option

Bonus Power Vantage helps you realise potential returns with the Bonus Lock-in Option. You can transfer the Reversionary Bonus (if applicable) and Terminal Bonus into a Bonus Lock-in Account to earn interest. You can also withdraw cash from the Bonus Lock-in Account anytime to meet your needs throughout various life stages without reducing the principal amount of your policy.

Within 30 days after the end of each policy year, starting from the end of the 15th policy year, you may apply to exercise the Bonus Lock-in Option once per policy year, which lets you transfer an identical percentage of the latest cash value of the Reversionary Bonus (if applicable) and the latest cash value of the Terminal Bonus into your Bonus Lock-in Account while your policy is in force. Exercising the Bonus Lock-in Option will not reduce the principal amount of the policy, which is used to calculate the premium and relevant policy values and will not be payable as the death benefit.

Once your application for exercising the Bonus Lock-in Option is approved, we will calculate the Lock-in Amount based on the latest cash value of the Reversionary Bonus (if applicable) and the latest cash value of the Terminal Bonus. All outstanding debt under your policy will be deducted from the Lock-in Amount (up to a maximum deduction amount equal to the Lock-in Amount) before it is transferred into your Bonus Lock-in Account. Once the Lock-in Amount is transferred into your Bonus Lock-in Account, the Reversionary Bonus (if applicable) and Terminal Bonus as at the relevant policy year and the Reversionary Bonus (if applicable) and Terminal Bonus to be declared for all subsequent policy years will be reduced accordingly. The transfer of Lock-in Amount cannot be reversed once the Bonus Lock-in Option is exercised. Each subsequent declaration of the Reversionary Bonus (if applicable) and Terminal Bonus will not affect the value of Bonus Lock-in Account.

Any remaining balance in your Bonus Lock-in Account may accumulate at a non-guaranteed accumulation interest rate that may be declared by us from time to time. Subject to our rules and regulations prevailing at the time, you may withdraw cash from your Bonus Lock-in Account anytime.

You can decide on what percentage of the Reversionary Bonus (if applicable) and Terminal Bonus to transfer, subject to the following:

During any given policy year, the percentages of the Reversionary Bonus (if applicable) and Terminal Bonus transferred into your Bonus Lock-in Account must be identical to each other.

The percentages to be transferred cannot be less than 10% or more than 70%. We reserve the right to change this Minimum Percentage and Maximum Percentage from time to time, subject to our prevailing rules and regulations.

The Lock-in Amount to be transferred cannot be less than a minimum amount (currently US$100), which may be determined by us from time to time, subject to our prevailing rules and regulations.

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Flexible withdrawal throughout your retirement

When you step into your retirement years, with Bonus Power Vantage, you can choose to withdraw policy values in one go, to realize your dreams. Alternatively, you can withdraw policy values regularly to suit your needs. For example, you can opt for annual or monthly withdrawals as part of your retirement income streams to enjoy your fulfilling retirement years.

Upon request, you can withdraw guaranteed cash value, non-guaranteed cash value of the Reversionary Bonus (if applicable) and non-guaranteed cash value of the Terminal Bonus from the Bonus Power Vantage. However, this will reduce the future values of your policy. After withdrawal, the principal amount of the policy and the total premiums paid or one-time premium paid (as applicable) for the basic plan under the death benefit may be reduced.

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Your choice of settlement option

Apart from a lump sum payment, if you wish your beneficiary to take the amount of death benefit and accidental death benefit in regular instalments, the plan provides a settlement option available to you.

You can select specific amounts of benefits 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 sum of the death benefit and accidental death benefit. Remaining amount of benefits will be left in our company to accumulate at the non-guaranteed interest rate determined by us, until the full amount of benefits has been paid to the beneficiary.

The death benefit settlement option is not available if the sum of death benefit and accidental death benefit payable is less than US$50,000.

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Change of Insured Option for legacy planning

To help you pass the fruits of your planning from generation to generation, the Change of Insured Option allows you to change the insured to another loved one, in whom you and the beneficiary have insurable interest, without affecting your policy values. That way, the value of your policy can be inherited by later generations, helping you pass on your wealth with extra flexibility.

There is a limit of 2 times you may request for the Change of Insured Option (aggregating with the limit of change of insured through contingent insured arrangement) during the lifetime of the current insured after the end of the 1st policy year, subject to our approval. No medical examination is required for the proposed new insured as long as the total annual premiums or one-time premium payment does not exceed the aggregate limit set for such insured, subject to our prevailing rules and regulations. At the time of application, the age of the proposed new insured must be between 15 days and 60.

Once the insured has been changed, all existing add-on plans will automatically terminate (except the Payor Benefit Rider (if any, where waiver of premium has not commenced), which shall remain in force provided that the age of the proposed new insured is between 15 days and 17 years old at the time of application, while its premium may be adjusted in accordance with any different benefit term).

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Contingent insured arrangement to protect your legacy

During the lifetime of the current insured, you can designate another loved one as a contingent insured, in whom you and the beneficiary have insurable interest. Upon the passing of the current insured, the contingent insured may become the new insured, subject to our approval. With this contingent insured arrangement, you can protect your legacy for the next generation even if the current insured passes away unexpectedly, providing greater peace of mind during uncertain times.

There is no limit on the number of times you can designate, modify or remove a contingent insured during the lifetime of the current insured, but you may only have one contingent insured per policy at any time during the benefit term. At the time of designation, the proposed contingent insured must be between 15 days and 60 years of age.

Upon the passing of the current insured, the contingent insured must be age 60 or under to be eligible to become the new insured. No medical examination is required for the contingent insured as long as the total annual premiums or one-time premium payment does not exceed the aggregate limit set for such insured, subject to our prevailing rules and regulations. The contingent insured needs to become the new insured within a year upon the passing of the current insured, otherwise the death benefit will become payable to the beneficiary.

Upon the contingent insured becoming the new insured, your policy values will not be affected, and you may designate a new contingent insured. All existing add-on plans will automatically terminate (except the Payor Benefit Rider (if any, where waiver of premium has not commenced), which shall remain in force provided that the age of the contingent insured is between 15 days and 17 years old when the current insured passed away, while its premium may be adjusted in accordance with any different benefit term). There is a limit of 2 times you may change the insured through the contingent insured arrangement (aggregating with the limit under the Change of Insured Option), subject to our approval.

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Rewards for academic excellence

To motivate the insured to strive for academic excellence, we will reward academic achievements by offering the Educational Merit Benefit. Once the policy has been in force for at least 1 year, if the insured obtains one of the following achievements before the age of 25, Bonus Power Vantage will pay the corresponding award amount while the policy is in force.

The Educational Merit Benefit will only be paid for one of the following categories once per policy and will terminate if you have claimed for the award amount in respect of any one insured. With respect to the same insured under all Bonus Power Vantage policies, the Educational Merit Benefit is only payable once per life.

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Educational Merit Benefit
Flexible premium payment terms

Denominated in US Dollars, the Bonus Power Vantage offers the choice of 3 premium payment terms, facilitating flexible planning depending on your current outlook. Premium amounts are guaranteed to be fixed throughout the premium payment term.

View premium payment terms
Premium Payment Terms Table
Delay premium payments in case of unemployment for 5-year or 10-year premium payment policies

Unemployment may cause a significant impact on your finances. Hence, the Unemployment Benefit helps ease your financial burden during tough times while keeping the insured protected, even if life takes an unexpected turn. Subject to terms and conditions and our approval, if you are laid off and become involuntarily unemployed during the premium payment term of your basic plan, you may claim for the Unemployment Benefit. Once it is approved, the grace period for late premium payment under the basic plan and any add-on plans will be extended from 31 days up to 365 days to give you a safe buffer. Your Unemployment Benefit claim needs to be submitted within 30 days of your involuntary unemployment. The Unemployment Benefit is available once per policy and relevant proof is required.
Add-on cover for policies with 5-year or 10-year premium payment term

If you opt for a 5-year or 10-year premium payment term, you may select an add-on plan under which we will waive the future premiums for the Bonus Power Vantage if the insured becomes totally and permanently disabled before the age of 60, providing support in the face of unfortunate circumstances.

In addition, you may also select the Payor Benefit Rider under which we will waive the future premiums for the basic plan until the insured reaches the age of 25 should you pass away or suffer total and permanent disability before the age of 60.

All add-on plans are subject to additional premiums, underwriting and exclusions. All benefits under add-on plans will be terminated when your Bonus Power Vantage policy terminates.

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Easy to join

No medical examination is required for your application as long as the total annual premiums or one-time premium payment (as applicable) does not exceed the aggregate limit set for each insured, subject to our prevailing rules and regulations. Simply apply and begin planning the future of your dreams.

insurance lingo explained

Participating Insurance Plan

With this product, in addition to providing protection to you and your love ones, your policy can share the divisible surplus (if any) from product groups determined by us.

Premium

This is the fee you pay us for your policy.

Surrender

When you cancel your insurance policy, we may pay you an amount (called the surrender value).

Insurable Interest

In general, if the death of one person will lead to financial loss to another person, then insurable interest exists between these two persons.

Notes:

All information here is for reference only. Please refer to the policy contract for the definitions of capitalised terms, and the exact and complete terms and conditions of coverage.

We would like to remind you to review the relevant product materials and proposal illustrations (if applicable) provided to you and seek independent professional advice if necessary.

IMPORTANT INFORMATION

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Bonus Philosophy

This is a participating insurance plan designed to be held long term. Your premiums will be invested in a variety of assets according to our investment strategy, with the cost of policy benefits (such as charges to support guarantees) and expenses deducted as appropriate from premiums or assets. Your policy can share the divisible surplus (if any) from related product groups determined by us. A very significant proportion of divisible surplus arising from actual experience gains and losses from related product groups will be shared with policy owners. We aim to ensure a fair sharing of profits between policy owners and shareholders, and among different groups of policy owners. For this plan's target profit sharing ratio between policy owners and shareholders, please visit our website at https://www.aia.com.hk/en/our-products/further-product-information/profit-sharing-ratio.html

Future investment performance is unpredictable. Through our smoothing process, we aim to deliver more stable Reversionary Bonus (if any) and Terminal Bonus payments, by spreading out the gains and losses over a longer period of time. Stable Reversionary Bonus (if any) and Terminal Bonus payments will ease your financial planning.

We will review and determine the Reversionary Bonus (if any) and Terminal Bonus amounts to be payable to policy owners at least once per year. The actual Reversionary Bonus (if any) and Terminal Bonus declared may be different from those illustrated in any product information provided (e.g. benefit illustrations). If there are any changes in the actual Reversionary Bonus (if any) and Terminal Bonus against the illustration or in the projected future Reversionary Bonus (if any) and Terminal Bonus, such changes will be reflected in the policy anniversary statement.

A committee has been set up to provide independent advice on the determination of the Reversionary Bonus (if any) and Terminal Bonus amounts to the Board of the Company. The committee is comprised of members from different control functions or departments within the organisation both at AIA Group level as well as Hong Kong local level, such as office of the Chief Executive, legal, compliance, finance and risk management. Each member of the committee will exercise due care, diligence and skill in the performance of his or her duties as a member. The committee will utilise the knowledge, experience, and perspectives of each individual member to assist the Board in the discharge of its duty to make independent decision and to manage the risk of conflict of interests, in order to ensure fair treatment between policy owners and shareholders, and among different groups of policy owners. The actual Reversionary Bonus (if any) and Terminal Bonus, which are recommended by the Appointed Actuary, will be decided upon the deliberation of the committee and finally approved by the Board of Directors of the Company, including one or more Independent Non-Executive Directors, and with written declaration by the Chairman of the Board, an Independent Non-Executive Director and the Appointed Actuary on the management of fair treatment between policy owners and shareholders.

To determine the Reversionary Bonus (if any) and Terminal Bonus of the policy, we consider both past experiences and the future outlook for all the factors including, but not limited to, the following:

Investment returns: include interest earnings, dividends and any changes in the market value of the product’s backing assets depending on the asset allocation adopted for the product, investment returns could be affected by fluctuations in interest income (both interest earnings and the outlook for interest rates) and various market risks, including credit spread and default risk, fluctuations in equity prices, property prices and foreign exchange currency fluctuation of the backing asset against the policy currency.

Claims: include the cost of providing death benefits and other insured benefits under the product(s).

Surrenders: include policy surrenders, partial surrenders and policy lapses; and the corresponding impact on the investments backing the product(s).

Expenses: include both expenses directly related to the policy (e.g. commission, underwriting, issue and premium collection expenses) and indirect expenses allocated to the product group (e.g. general administrative costs).

Some participating products (if applicable) allow the policyholder to leave annual dividends, guaranteed and non-guaranteed cash payments, guaranteed and non-guaranteed incomes, guaranteed and non-guaranteed annuity payments with us, potentially earning interest at a non-guaranteed interest rate. To determine such interest rate, we consider the returns on the pool of assets in which the annual dividends, guaranteed and non-guaranteed cash payments, guaranteed and non-guaranteed incomes, guaranteed and non-guaranteed annuity payments are invested with reference to the past experience and future outlook. This pool of assets is segregated from other investments of the Company and may include bonds and other fixed income instruments. You have the right to request for historical accumulation interest rates before committing the purchase.

For dividend & bonus philosophy and dividend / bonus history, please visit our website at https://www.aia.com.hk/en/dividend-philosophy-history.html

Investment Philosophy, Policy and Strategy

Our investment philosophy is to deliver stable returns in line with the product’s investment objectives and AIA’s business and financial objectives.

Our investment policy aims to achieve the targeted long-term investment results and minimise volatility in investment returns over time. It also aims to control and diversify risk exposures, maintain adequate liquidity and manage the assets with respect to the liabilities.

Our current long-term target strategy is to allocate assets attributed to this product according to the target asset mix on the asset class below:

Bonds and other fixed income instruments: 25% - 100%
Growth assets: 0% - 75%

Our investment strategy is to actively manage the investment portfolio i.e.: adjust the asset mix in response to the external market conditions. The proportion of growth assets would be lower when interest rate level is low and would be even lower than the long-term target strategy so to protect the guaranteed liability and to minimise volatility in investment returns over time, and vice versa when interest rate is high.

The bonds and other fixed income instruments predominantly include government and corporate bonds, and are mainly invested in the geographic region of the United States and Asia-Pacific. Growth assets may include listed equity, equity mutual funds, physical real estate, real estate funds, private equity funds and private credit funds, which are mainly invested in the United States, Asia-Pacific and Europe. Returns of growth assets are generally more volatile than bonds and other fixed income instruments. Subject to our investment policy, material amount of derivatives may be utilised to manage our investment risk exposure and for matching between assets and liabilities.

Our currency strategy is to minimise currency mismatches. For bonds or other fixed income instruments, our current practice is to currency-match their bond purchases with the underlying policy denomination on best-efforts basis (e.g. US Dollar assets will be used to support US Dollar liabilities). Subject to market availability and opportunity, bonds may be invested in currency other than the underlying policy denomination and currency swap will be used to minimise the currency risks. Currently assets are mainly invested in US Dollar. Growth assets may be invested in currency other than the underlying policy denomination, and the currency exposure depends on the geographic location of the underlying investment where the selection is done according to our investment philosophy, investment policy and mandate.

We will pool the investment returns from other long term insurance products (excluding investment linked assurance schemes and pension schemes) together with this participating insurance plan for determining the actual investment and the return will subsequently be allocated with reference to the target asset mix of the respective participating products. Actual investments (e.g. geographical mix, currency mix) would depend on market opportunities at the time of purchase. Hence it may differ from the target asset mix.

The investment strategy may be subject to change depending on the market conditions and economic outlook. Should there be any material changes in the investment strategy, we will inform policy owners of the changes, with underlying reasons and impact to the policies.

Key Product Risks

You should pay premiums on time and according to the selected premium payment schedule. If you stop paying the premium before completion of the premium payment term, you may surrender the policy, otherwise, the premium will be covered by a loan taken out on the policy automatically. When the loan balance exceeds the sum of guaranteed cash value and cash value of Reversionary Bonus (if any) of the basic plan, the policy will terminate and you will lose the cover. The surrender value of the policy will be used to repay the loan balance, and we will refund any remaining value.
The plan may make certain portion of its investment in growth assets. Returns of growth assets are generally more volatile than bonds and other fixed income instruments, you should note the target asset mix of the product as disclosed in this product brochure, which will affect the bonus on the product. The savings component of the plan is subject to risks and possible loss. Should you surrender the policy early, you may receive an amount considerably less than the total amount of premiums paid.
For one-time premium payment policies, they are subject to higher investment return volatility and thus are expected to have higher volatility on the bonus payable, as compared to policies with 5-year or 10-year premium payment term which can benefit from cost averaging effect.
You may request for the termination of your policy by notifying us in written notice. Also, we will terminate your policy and you / the insured will lose the cover when one of the following happens:
1. the insured passes away, except when the contingent insured becomes the new insured;
2. you do not pay the premium within 31 days (or 365 days under Unemployment Benefit) of the due date and the policy has no cash value (Only applicable for a 5-year or 10-year premium payment policy); or
3. the outstanding debt exceeds the guaranteed cash value (applicable for a one-time premium payment policy) / the guaranteed cash value plus the cash value of the Reversionary Bonus (if any) of the policy (applicable for a 5-year or 10-year premium payment policy).
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.
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.
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.
(Only applicable for a 5-year or 10-year premium payment policy) As the cash value of Reversionary Bonus is non-guaranteed, there may be a risk of overloan when there is adjustment on the cash value of Reversionary Bonus. Immediate loan repayment is required when there is an overloan, otherwise your policy will be terminated and you or the insured may lose the cover.

Key Exclusions to Accidental Death Benefit

Accidental Death Benefit will not cover any conditions that result from any of the following:

self-destruction while sane or insane, participation in a fight or affray, being under the influence of alcohol or a non-prescribed drug
war, service in armed forces in time of war or restoration of public order, riot, industrial action, terrorist activity, violation or attempted violation of the law or resistance to arrest
racing on wheels or horse, scuba diving
ptomaines or bacterial infection (except pyogenic infection occurring through an accidental cut or wound)
air travel, including entering, exiting, operating, servicing or being transported by any aerial device or conveyance (except as a passenger of a commercial passenger airline on a regular scheduled passenger trip over its established passenger route)

The above list is for reference only. Please refer to the policy contract of this plan for the complete list and details of exclusions.

Note for Unemployment Benefit

You must be employed under a continuous contract for not less than 24 months and be eligible for a severance payment upon termination under the employment or labour laws of Hong Kong or Macau (according to the place of policy issuance) prior to the involuntary unemployment. Further, such employment cannot be self-employment, employment by a family member (including spouse, parent, grandparent, child or grandchild) or employment as a domestic servant. The Unemployment Benefit starts on the premium due date at the time when we approve your claim and continues for up to 365 days. Proof of continuous unemployment is required by you upon our request. The Unemployment Benefit is not available if you were informed of your pending involuntary unemployment on or before the issue date or commencement date of the policy, whichever is later.

The Unemployment Benefit will cease on the earliest of the following dates:

(i) at the end of extended grace period,
(ii) you fail to provide proof of continuous unemployment upon our request,
(iii) the date on which the policy owner has been changed,
(iv) the date on which any claims on waiver of premium under your basic plan is approved,
(v) at the end of premium payment term of your basic plan,
(vi) the date when any claims of your basic plan and / or add-on plans is made, if the premium payment mode is not changed to monthly,
(vii) the date when you pay all outstanding premiums and
(viii) termination date of your basic plan.

Claim for Unemployment Benefit must be submitted within 30 days of your involuntary unemployment. The Unemployment Benefit could only be claimed once per policy and relevant proof is required. The approval of the Unemployment Benefit is subject to our prevailing rules and regulations, and the handling of policy during the extended grace period will be subject to our discretion.

Claim Procedure

If you wish to make a claim, you must send us the appropriate forms and relevant proof. You can get the appropriate claim forms in www.aia.com.hk, from your financial planner, by calling the AIA Customer Hotline (852) 2232 8888 in Hong Kong, or (853) 8988 1822 in Macau, or by visiting any AIA Customer Service Centre. For details related to making a claim, please refer to the policy contract. If you wish to know more about claim related matter, you may visit "File A Claim" section under our company website www.aia.com.hk

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 debt.

After exercising the Change of Insured Option or upon the contingent insured becoming the new insured, if the new insured commits suicide within one year from the effective date of change as recorded by us, our liability will be limited to the refund of premiums paid (without interest) or the sum of guaranteed cash value, cash value of Reversionary Bonus (if any, applicable for a 5-year or 10-year premium payment policy), cash value of Terminal Bonus (if any) and any remaining balance of the Bonus Lock-in Account as at the date the new insured passes away, whichever is higher, less any outstanding debt.

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. After exercising the Change of Insured Option or upon the contingent insured becoming the new insured, such two- year period will be counted again starting from the effective date of change as recorded by us.

Cancellation Right

You have the right to cancel and obtain a refund of any premiums and any levy paid by giving written notice to us. Such notice must be signed by you and submitted to the Customer Service Centre of AIA International Limited at 12/F, AIA Tower, 183 Electric Road, North Point, Hong Kong or the Customer Service Centre of AIA International Limited at Unit 1903, 19/F, AIA Tower, 251A-301 Avenida Comercial de Macau, Macau within 21 calendar days immediately following either the day of delivery of the policy or the Cooling-off Notice to you or your nominated representative , whichever is the earlier.

Like what you've read? This is just a summary of our product. If you want more information, please contact your financial planner for a financial needs analysis.

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