U-select | Investment-Linked Assurance Scheme | AIA Hong Kong

It means the sub-account into which units are notionally allocated with the Basic Premium and premium of the unit deducting supplementary contracts (if applicable) after deducting any applicable premium charge.

It means the policy contract of U-Select as amended, supplemented and/or revised by endorsement from time to time.

It means the premium of the Basic Policy you pay regularly while the policy is in force, which generally depends on the Face Amount selected, the insured’s Issue age, gender and class of risk, which is subject to premium charge and other applicable fees and charges. However, starting from the 8th policy year, if you have ever reduced the Face Amount of the Basic Policy, the Basic Premium is no longer directly dependent on the reduced current Face Amount, and where you choose a new preferred Basic Premium based on a Face Amount in an amount ranging from the reduced current Face Amount up to the Face Amount at inception of the Basic Policy, the Basic Premium will refer to this new preferred Basic Premium.

It means the amount selected by you and approved by AIA International Limited as shown on the policy information page as the “Face Amount” (any subsequent reduction in the Face Amount upon your request or as a result of benefits payment to you under any applicable supplementary benefits attached to the Basic Policy will be amended by an endorsement).   It is used to calculate the death benefits under the Basic Policy.

It means the year for which the Basic Premium and unit deducting supplementary contract premium (if applicable) have been paid, and such period shall count as from the policy date with respect to Basic Premium, and from the commencement date with respect to the unit deducting supplementary contracts. Any period of premium holiday will be excluded from the counting of Premium Payment Year.  

It means the total sum of the Basic Account value, the lump sum investment account value and the regular investment account value.

It means, in relation to an underlying fund, the day on which the assets of that underlying fund are valued, as determined by the fund manager of that underlying fund from time to time.