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Investment-Linked Assurance Scheme
Benefit period
Issue age for the life insured
Treasure Master Plus is a single premium investment-linked assurance scheme with optional top-up premium. During the policy term till the insured is 100, Treasure Master Plus provides the policyholders with life insurance coverage and access to a range of investment options. Treasure Master Plus is available to applicants between the age of 18 and 70 (inclusive) and life insured between the age of 15 days and 70 (inclusive). AIA may exercise its discretion to accept applications exceeding such age limits.
Please refer to the offering documents for more details about the product features.
Note: The benefit period for policies submitted and issued on or after 15 November 2019 is till age 100 of the insured; the benefit period for policies submitted and issued before 15 November 2019 is till age 80 of the insured.
You may start your Basic Policy by contributing a minimum Single Premium of US$15,000. If you want to make further investments after issuance of your Basic Policy, you can contribute Top-up Premiums of at least US$4,000 each at any time while your Basic Policy is in force. Please refer to the section “A) Product features” in the product brochure for details.
The premium contribution you have made shall be used to notionally allocate units of your selected investment options to your Account for determination of the Account Value and benefits. Please refer to the section “D) Investment Options information” in the product brochure for details.
In the unfortunate event of the death of the life insured while the Basic Policy is in force, we will pay the beneficiary 105% of the Account Value. Please refer to the subsection “Death benefit” under the section “A) Product features” in the product brochure for details.
We have made a number of investment options available to Treasure Master Plus for your selection. You may switch the units in the investment options held in your Account, provided that the switched amount is at least US$100 per transaction. Please refer to the section “D) Investment Options information” in the product brochure and the investment options brochure for details.
You may withdraw the Free Partial Withdrawal Amount from your Account anytime. Any partial withdrawal in excess of the Free Partial Withdrawal Amount will be subject to a withdrawal charge. Please note that once the partial withdrawal has been made, your Account Value and death benefit will be reduced. Please refer to the subsection “Partial withdrawal” under the section “A) Product features” in the product brochure for details.
If the amount of the Single Premium (excluding any Top-up Premium) is equal to or greater than US$15,000, a one-off start up bonus will be credited to your Account in the form of units in accordance with your latest allocation instruction upon the issue of the Basic Policy. Please note that start up bonus awarded will form part of the Account Value and will be subject to the on-going fees and charges. Moreover, if you cancel the Basic Policy within the cooling-off period, the start up bonus will be forfeited and will not be payable to you. In the event of partial withdrawal or surrender within the first 5 Policy Years, the start up bonus is subject to withdrawal charge. For further details about the start up bonus and the withdrawal charge, please refer to the subsection “Start up bonus” under the section “A) Product features” and “Withdrawal charge” in the section “B)Summary of fees and charges” respectively.
Loyalty bonus of at least 0.2% (÷ 12 months) of the Average Account Value will be paid at every Monthiversary starting from the 60th Monthiversary until the Basic Policy is terminated. It will be credited to the Account in the form of units of the investment option(s). You should also note that due to partial withdrawals, the amount of loyalty bonus will be reduced. Please refer to the subsection “Loyalty bonus” under the section “A) Product features” in the product brochure for details.
Account
It means the account that AIA International Limited establishes and maintains for you under the Basic Policy which shall be notionally allocated with units in accordance with the allocation instructions for determination of the Account Value.
Account Value
It means the total value of all investment options under the Basic Policy. The value of each investment option equals the number of units of the investment options multiplied by the bid price of the investment option on the relevant valuation day.
Average Account Value
It means the sum of the Account Value based on the latest available bid price at each Monthiversary over the previous 60 months divided by 60.
Basic Policy
It means the contract of policy, including the schedule of fees and charges, as may be amended by endorsement from time to time.
Free Partial Withdrawal Amount
It means the amount of the Account Value exceeding the sum of any net Single Premium paid, net start up bonus credited and all net Top-up Premium(s) paid to which withdrawal charge is not applicable and is subject to a minimum of zero.
Monthiversary
It means the same day of each subsequent month as the Policy Date.
Net Chargeable Amount
It means, with respect to each partial withdrawal, the withdrawal amount exceeding the Free Partial Withdrawal Amount and is subject to a minimum of zero.
Net Single Premium Paid
It is an amount equal to:
(a) the Single Premium paid minus
(b) the sum of all Net Chargeable Amounts for each partial withdrawal previously made.
This amount is subject to a minimum of zero.
Net Start Up Bonus Credited
It is an amount equal to:
(a) the start up bonus credited minus
(b) subject to a minimum of zero, the sum of all Net Chargeable Amounts for each partial withdrawal previously made minus the Single Premium paid.
This amount is subject to a minimum of zero.
Net Top-up Premium Paid
It is an amount equal to:
(a) the Top-up Premium paid minus
(b) subject to a minimum of zero, the sum of all Net Chargeable Amounts for each partial withdrawal previously made minus
(i) the Single Premium paid and
(ii) the start up bonus credited and
(iii) if one or more Top-up Premium(s) were previously made, all other optional Top-up Premium(s) previously paid.
This amount is subject to a minimum of zero.
Policy Date
It is the date by which Monthiversary, policy anniversary and Policy Year are determined and shown on the policy information page as the “Policy Date” or, where amended, the date shown on an endorsement to the Basic Policy (if any). It shall be the same as the application date of your Basic Policy with the exception that if the application date is on 29th, 30th or 31st of any month, the 1st day of the following month will be used as the Policy Date.
Policy Year
It means each 12-month period starting from the Policy Date.
Single Premium
It means the amount of initial premium contribution made for the Basic Policy, which is shown on the policy information page.
Top-up Premium
It means the optional unscheduled premium which you pay to AIA International Limited at any time while the Basic Policy is in force.
Top-up Premium Date
It means the date on which the Top-up Premium is received by us.
1.5% per annum of the Net Single Premium Paid and each Net Top-up Premium Paid (if any) within the first 5 years following the Policy Date and each relevant Top-up Premium Date respectively.
1.0% per annum of the Account Value until the termination of the Basic Policy.
Equivalent to the amount of partial withdrawal hitting the relevant amounts of the Net Single Premium Paid, the Net Start Up Bonus Credited and the Net Top-up Premium Paid multiplied by the relevant withdrawal charge rate, which is up to 7.25% with reference to the Net Single Premium Paid and the Net Top-up Premium (if any) and up to 100% with reference to the Net Start Up Bonus Credited.
Equivalent to the Net Single Premium Paid, the Net Start Up Bonus Credited and the Net Top-up Premium Paid multiplied by the relevant withdrawal charge rate, which is up to 7.25% with reference to the Net Single Premium Paid and/or the Top-up Premium (if any) and up to 100% with reference to the Net Start Up Bonus Credited.
The underlying fund charges may include management fee, performance fee, bid-offer spread and/or switching fee and such fees will be deducted and reflected in the unit price of the underlying funds.
Please refer to the section “B) Summary of fees and charges” in the product brochure for details of the investment-linked assurance scheme charges. For the underlying fund charges, details can be found in the offering documents of the underlying funds and the investment options brochure of Treasure Master Plus, which are available from AIA International Limited upon request.
You can purchase this product from your intermediary.
1The Government of the Hong Kong Special Administrative Region has announced that the Capital Investment Entrant Scheme would be suspended with effect from 15 January 2015 until further notice.