Citibank has tied up with AIA to provide Life Insurance policies that helps people financially protect themselves and their family members from any problems that might occur in the future.
AIA Smart Pro Saver:
AIA Smart Pro Saver is a 10-year limited premium payment policy wherein the policyholder is expected to pay premiums for only 5 years. This policy protects people and at the same time helps them earn attractive returns.
- The policyholders can enjoy coverage for 10 years by paying fixed premiums for just 5 years.
- Annual bonus will be added to the policy every year and a terminal bonus might be added when policyholders make a claim or when the policy matures or when it is surrendered.
- Policyholders will receive the proceeds during maturity i.e. after 10 years. The proceeds will include the bonus amount.
- The policy will provide financial protection to the family members of the policyholders in case of his/her premature death. To prevent their family from facing financial problems, the policy will give 101 percent of the total premium and bonus amount to the family.
- Policyholders have the option of saving in two currencies - SGD or USD.
- The application process is very easy and the policy does not have medical underwriting.
AIA Retirement Saver (II):
AIA Retirement Saver (II) helps people save money for their retirement. Policyholders can select when they want to receive the income they have saved for the retirement period, the amount they want to get, the length of income payout period and the term of their premium.
- Policyholders will receive a retirement reward, which is 24X of their monthly retirement income at the retirement age chosen by them.
- Policyholders will receive retirement income every month. This amount is paid over a period of 15 to 20 years depending on the period they want it to last for.
- Policyholders will receive a guarantee that they will get the amount that is due to them after they retire.
- From the end of the first year, policyholders will receive annual dividends.
- Policyholders will receive potential returns of up to 4.25 percent during maturity. They will also get an extra bonus. It is a one-time terminal divided, but without guarantee.
- People can choose to add Cancer Relief Income Rider to this plan, which will pay them money if they are diagnosed with cancer before they retire.
AIA Smart Pro Rewards:
AIA Smart Pro Rewards offers guaranteed annual coupons to policyholders which helps them earn more from the amount they have saved. It is a participating endowment policy with limited premiums.
- Policyholders will receive guaranteed annual coupon every year, which is equal to 5 percent of the sum insured. They will start receiving it from the second year.
- Policyholders will get a guaranteed lump sum payout of their maturity benefit, which is equal to 85 percent of the sum insured after 15 years. They will also get terminal bonus and annual bonuses (non – guaranteed).
- Capital guarantee assures policyholders that they will receive the total premium that they have paid at the end of the term.
- Policyholders can choose the term of their policy. They can select to complete their premium payment in 5 years or in 10 years. They can also choose to get the annual coupons or they can keep it with AIA to earn interest on it.
- Applying for this policy is very easy. People do not have to get a medical check-up done to get the policy.
- The policy will provide 101 percent of the total premium plus other bonus and coupons (kept with AIA) to the family in case anything unexpected happens to the insured.
AIA Smart Growth (II):
Apart from protecting policyholders, AIA Smart Growth (II) allows them to save money regularly. It is a regular premium savings plan that lets policyholders pay their premiums faster and at the same time helps them save money, which they can use for any personal reason such as paying for their child’s education or planning a holiday or for retirement.
- This policy provides annual bonus to people that can be added to their policy every year. Policyholders can also earn a terminal bonus when they make any claims or when it matures or is surrendered.
- This policy protects the policyholder’s family in case he/she passes away or suffers from total and permanent disability before reaching 70 years of age. The family will be given the sum insured plus any other bonus.
- Policyholders can add coverage for critical illness and for other things if they want. The policy also provides OPAI (Option to Purchase Additional Insurance) Benefit.
- Policyholders can select any term from among the following:
- 18 years
- 21 years
- 24 years
- Policyholders have to pay fixed premiums for a period of 12 years only.
AIA Platinum Generations:
AIA Platinum Generations is a USD limited whole life plan that provides regular income (additional) to the policyholders and ensures long term growth. The savings from this policy can benefits 3 generations of the policyholder. First the policyholder can purchase the policy for their child’s life and pay 10 years premium. When the child is 21 years old, the policyholder can assign the policy to him or her and at the end of his/her lifetime, the grandchild will get the death benefits. When the policyholder assigns the policy to his/her child, they will start receiving the annual coupons and dividends.
- The plan provides protection to three generations of the policyholders.
- Policyholders have to pay premiums for only 10 years.
- Apart from receiving annual dividends at the end of 10 years, policyholders will earn annual coupon worth 3 percent of the sum insured. They can choose to keep it with AIA to earn interest on the same.
- Policyholders can earn better returns through annual dividends (non-guaranteed). They can also earn a terminal bonus when they make any claims or when it matures or is surrendered.
- This policy provides additional protection in case of total and permanent disability.
AIA Guaranteed Protect Plus:
AIA Guaranteed Protect Plus allows policyholders to protect their family and save money through one single plan. Policyholders can select their coverage according to their needs by using the multiplier feature. This plan offers coverage in cases of death, critical illness and total and permanent disability. Apart from this, it also provides additional financial protection through bonuses and guaranteed cash value.
- The multiplier feature allows policyholders to increase their coverage by 2 times, 3 times and 5 times. The increased coverage will be provided till the policyholders reach 65 or 75 years of age.
- Policyholders can choose to pay their premiums in 12 years or 20 years and receive lifetime protection.
- They can choose to add critical illness coverage at any stage of the illness.
- They can choose to use the premium waiver add as a safety measure.
AIA Platinum Heritage (II):
AIA Platinum Heritage (II) is a whole life plan that requires people to pay a one-time premium. It helps people by providing wealth protection for their families.
- This plan provides guaranteed coverage to policyholders till the age of 100 years with only one premium payment.
- The insurance proceeds from the policy will provide the families of policyholders with cash flow, which will help them live comfortably.
- The policy ensures that the estate of the holders will be passed to their kin in an equal and fair manner.
- The policy gives a guaranteed and immediate source of cash from the day it starts. The guaranteed value of cash is 80 percent of the premium.
- Policyholders can increase the value of their assets through stable accumulation of wealth by way of bonuses.
- The minimum death benefit provided by this policy is $500,000 (SGD or USD).
AIA Platinum Gift for Life:
AIA Platinum Gift for Life helps people plan the finances for 3 generations. Policyholders can purchase this policy to insure their children and they will get the monthly income until it is transferred to them. When their children pass away, their grandchildren (the beneficiaries) will get the death benefit.
- The policy provides financial protection and guaranteed coupons every month till the age of 100 years.
- The policy guarantees lifetime coverage.
- People can increase their wealth through the dividends they will receive every month.
- From the first day, the policy provides guaranteed cash value of 80 percent of the premium.
- The application process is easy and no medical check-up is required for the same.
- Policyholders can choose to keep their monthly income with AIA to earn the interest.
AIA MRTA guarantees repayment of pending housing loan in case the policyholder passes away or suffers from total and permanent disability or terminal illness.
- The policy guarantee repayment of pending housing loan.
- Policyholders can enjoy a shorter premium payment period for the full term.
- Policyholders can add coverage for new mortgage loan.
AIA Secure Term Plus (II):
AIA Secure Term Plus (II) is an affordable plan that protects policyholders and their families at different stages of their life.
- This policy provide high protection for affordable premiums.
- Policyholders can choose the coverage period of their policy. It can be 5 years, 10 years or 20 years.
- Policyholders can convert this policy into a whole life or endowment plan before they reach 70 years of age.
- The policy can be renewed for age up to 101 years.
- This policy provides coverage for critical illness. It covers 43 types of illnesses.
- Policyholders can add coverage for accidents and hospital benefits.
AIA Platinum Legacy (VII):
AIA Platinum Legacy (VII) helps policyholders protect and grow their financial assets and transfer their wealth as they wish.
- This policy provides coverage for an entire lifetime.
- Policyholders can use this plan to increase their wealth via accumulation of cash value.
- For the initial 3 years, the policy guarantees crediting rate on the first premium.
- Policyholders can transfer their wealth as they want and they can access cash value from the first day.
- The policy provides flexible choices for payment.
- The fee structure of the policy is very transparent and there are no hidden costs.
AIA HealthShield Gold Max:
AIA HealthShield Gold Max provides comprehensive hospital coverage for the entire lifetime for any ward chosen by the policyholder.
- The policy has affordable premiums, which can be paid using the savings of CPF Medisave.
- Policyholders can make unlimited claims provided that it is within the policy term and does not exceed benefit limits.
AIA Complete Critical Cover:
AIA Complete Critical Cover provides complete protection to the policyholders in case they suffer from critical illness. It provides coverage for major, early and catastrophic illnesses, which includes heart diseases, cancer, cancer relapse and stroke.
- In case of Early Critical Illness, the policy provides up to 50 percent of the sum insured or up to $75,000 to the policyholders.
- For complications arising due to diabetes and diseases like angioplasty, the policy offers 25 percent of the sum insured or up to SGD 25,000 (whoever has the lower value).
- In case of Catastrophic Illness, the policy offers up to 200 percent of the sum insured.
- Policyholders can make multiple claims on this policy.
- The policy offers up to 100 percent of the sum insured in case of major cancer relapse.
- Once the policyholder makes two successful claims, they do not have to pay premiums in future and they will still be protected by the policy.
AIA Prime Critical Cover:
AIA Prime Critical Cover provides comprehensive and long-term coverage to people between 40 and 70 years old from 40 conditions. This protection is provided until the age of 100 years.
- This policy provides coverage for affordable premiums.
- The policy does not require policyholders to go through complicated medical tests.
- The policy guarantee coverage for Critical Illness up to an age of 100 years. Additional coverage of 50 percent is provided, if the Illness occurs after the policyholder crosses 85 years of age.
- This policy provides special early payouts for 7 conditions, which are as follows:
- Carcinoma in situ of specified organs
- Angioplasty and other invasive treatment for coronary artery
- Cardiac defibrillator insertion
- Early parkinson’s disease
- Cardiac pacemaker insertion
- Moderately service alzheimer’s disease
- From the fourth year, the policy offers reimbursements of maximum SGD 250 for expenses on health screening once in every 3 weeks.
AIA Secure Critical Cover:
AIA Secure Critical Cover provides coverage for critical illnesses to the policyholder and protects them from the financial burden.
- This policy pay the sum insured to the policyholder in case they are diagnosed with certain type of critical illness or in case they suffer from total and permanent disability.
- Policyholders can choose to convert this policy into an endowment or whole life policy.
- The policy has affordable premiums.
- This policy offers AIA Vitality through which policyholders can enjoy savings of up to 15 percent on their premiums as they become healthier.
AIA Premier Disability Cover:
AIA Premier Disability Cover provides 360o protection to the policyholders. It financially protects them in case they are unable to work due to some injury or illness or if they suffer from strokes, which might lead to total and permanent disability.
- It protects policyholders in case they are unable to earn an income. At end of the deferment period, the plan will pay monthly benefits for a period of up to 2 years.
- In case the policyholder is able to earn an income but the amount is lower than the monthly benefit, then the plan will top it up to make the amounts match.
- Policyholders will receive rehabilitation benefit, which will cover rehabilitation expenses.
- The plan offers death benefit, which is 12 times of the monthly benefit.
- Policyholders do not have to pay the premium when they get the monthly benefit. The premium will be waived until they reach 65 years of age or until they recover from their disability.
- The policy offers Payback Benefit, which is up to 2 times the monthly benefit. It helps in replacing the income that policyholders had lost during the deferment period of 60 days.
- This policy offers AIA Vitality through which policyholders can enjoy savings of up to 15 percent on their premiums as they become healthier.
How to Apply?
People can apply for the Life Insurance plans offered by Citibank easily. They can either contact the bank or visit any of its branches and apply.