Savings Insurance
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Savings · Retirement Income
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Let your love pave the way to a happy future for your dearest ones with Forever Love Coupon Plan 5, a wealth accumulation plan that pays out guaranteed cash payments. To help you weather life’s trials, the plan’s Family Protection Benefit will waive future premiums under the policy if the parent of the insured child or the spouse of the insured adult passes away, letting you provide shelter for those you love. With the assurance of a stable and long-term income as well as an extended safety net for your family, you can live happier lives – together.
Forever Love Coupon Plan 5 is a participating insurance plan that provides you with guaranteed cash value, guaranteed cash payments, as well as non-guaranteed annual cash amounts called Annual Dividends, which begin from the end of the 10th policy year. You may choose to receive the Annual Dividends in cash or use them to reduce any premium due under this policy. Otherwise, these sums shall accumulate in your policy, potentially earning interest.
Also, once the policy has been in force for 10 years or more, we will provide you with a non-guaranteed one-off payment, called a Terminal Dividend if:
To help you achieve greater financial flexibility, Forever Love Coupon Plan 5 distributes two types of guaranteed cash payments, which you can start receiving in a year at the soonest, according to the table below.
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If the insured passes away, we will pay the death benefit to the person whom you select in your policy as beneficiary. The death benefit will include:
We will deduct all outstanding debt under your policy before we make the payment to the beneficiary.
If the insured passes away due to a covered accident within the first 12 months of the policy, Forever Love Coupon Plan 5 also pays a benefit equal to the principal amount for your basic plan in addition to the above death benefit. The maximum aggregate amount of this additional benefit under all Forever Love Coupon Plan 5 policies for the same insured will be US$100,000.
Forever Love Coupon Plan 5 is denominated in US dollars and starts from a minimum principal amount of US$5,000. You can select from four premium payment terms according to your personal financial needs and premium amounts are guaranteed to be fixed throughout the premium payment term, which makes you enjoy long-lasting and in-depth wealth planning.
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No medical examination is required for new applications as long as the total annual premiums do not exceed the aggregate limit set for insured, subject to our prevailing rules and regulations. Simply apply and gain lifelong protection.
Forever Love Coupon Plan 5 could help you extend a safety net over your loved ones - with no health information required. If the parent of an insured child or the spouse of an insured adult passes away before the age of 80, we will activate the Waiver of Premium on Death (Parents) or the Waiver of Premium on Death (Spouse) (see below), which waives all or part of the future policy premiums to lighten your burden.
These benefits, which come with the basic policy, will become effective once the policy has been in force for 2 years, provided that the parent of an insured child or the spouse of an insured adult is at or below the age of 50 at the time of policy application.
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To support you against unfortunate circumstances, you may select an add-on plan under which we will waive the future premiums for Forever Love Coupon Plan 5 if the insured becomes totally and permanently disabled before the age of 60.
In addition, you may 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.
Under either circumstance, we will continue distributing guaranteed cash payments so that your wealth can continue to accumulate, allowing your love to live on.
You can also choose from a range of optional add-on plans offering accident, medical, critical illness and disability protection if you want more cover. Once the basic plan is paid up, you can renew these add-on plans until their expiry by continuing to pay their respective premiums.
All add-on plans are subject to additional premiums, underwriting and exclusions. All benefits under add-on plans will be terminated when your Forever Love Coupon Plan 5 terminates.
Participating Insurance Plan
With this product, in addition to providing protection to you and your loved 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).
Additional options are available for you to customise your cover to make sure it suits your individual needs.
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.
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 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. We aim to ensure a fair sharing of profits between policy owners and shareholders, and among different groups of policy owners.
Future investment performance is unpredictable. Through our smoothing process, we aim to deliver more stable dividend payments by spreading out the gains and losses over a longer period of time. Stable dividend payments will ease your financial planning.
We will review and determine the dividend amounts to be payable to policy owners at least once per year. The actual dividends declared may be different from those illustrated in any product information provided (e.g. benefit illustrations). If there are any changes in the actual dividends against the illustration or in the projected future dividends, 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 dividend 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 dividends 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.
To determine the dividends 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).
For further information, please visit our website at
http://www.aia.com.hk/en/dividend-philosophy.html
For the historical fulfillment ratio, please visit our website at
http://www.aia.com.hk/en/fulfillment-ratio.html
Dividend and Bonus Philosophy
Historical Fulfillment Ratio
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:
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 (excluding Japan). Equity-like assets may include listed equity, mutual funds and direct / indirect investment in commercial / residential properties, and are mainly invested in Asia. Returns of equity-like assets are generally more volatile than bonds and other fixed income instruments. Subject to our investment policy, 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 (i.e.: 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. For equity-like assets, 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.
Accidental Death Benefit will not cover any conditions that result from any of the following:
The above list is for reference only. Please refer to the policy contract of this plan for the complete list and details of exclusions.
If the person protected under the policy 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.
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 person protected under the policy 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.