If we were to look around us, there are many people who are not adequately insured, or who aren’t aware of the significance life insurance holds, not only for them but also for their family. For Singaporeans, AIA offers not one but multiple types of life insurance products which provide comprehensive cover not only to you but also your loved ones against a variety of unpredictable situations that life might present. Some of the life insurance products offered as part of AIA Life Insurance includes AIA Family First Baby, AIA Family First Protect, AIA Gen3 (II), AIA Secure Term Plus (II) and many more.
About AIA Group Limited
AIA Group Limited or AIA is one of the leading life insurance organizations in the pan-Asian region. AIA enjoys a prominent presence in the Asia-Pacific region via it’s wholly owned subsidiaries and branches located in Thailand, Singapore, Malaysia, Australia, Philippines, New Zealand, Hong Kong and many other countries. AIA offers a host of financial products which include savings plans, employee benefit, life insurance, pension services, accident and health insurance.
Types of AIA Life Insurance
|AIA Pro Lifetime Protector||This life insurance scheme allows you to personalise and change your protection plans according to your needs.||Whole life|
|AIA Guaranteed Protect Plus||This insurance policy has a unique multiplier feature through which you can increase your coverage by 2x, 3x or 5x for added financial protection.||Whole life|
|AIA Secure Term Plus (II)||An affordable scheme that allows you to convert your policy to an endowment plan or whole life plan if your needs and responsibilities change.||Term (5, 10, 20 or 30 years)|
|AIA Life Plus (II)||This savings plan offers life insurance coverage up to the age of 100. This scheme also helps your savings grow by providing annual bonuses.||Whole life|
|Direct – AIA Term Cover||You can sign up for this plan directly without having to ask your financial advisor. The premium for this plan doesn’t increase as you age.||Term (5 or 20 years or up to the age of 65)|
|Direct – AIA Whole Life Cover||You can enjoy stable returns on your investment with this life insurance policy. The premium payable is affordable and you enjoy financial protection up to the age of 100. Bonuses are added to the policy every year which help in fighting inflationary effects on the insured amount.||Whole life|
|AIA Gen3 (II)||This policy allows you to save a sizable amount of money for the coming three generations of your family. It also provides you with guaranteed coupon payments that you can spend in any way that you please.||Whole life|
|AIA Secure Critical Cover||This policy gives you financial protection if you have a critical illness. The financial protection offered gives you time to recuperate with no added stress.||Term|
|AIA Platinum Term||You can safeguard the future of your loved ones with this scheme. Affordable premiums give you financial security that lasts through retirement.||Term|
|AIA Prime Secure||Your savings will continue to grow until you reach the age of 100. From the third year, you will also get annual dividends which you can withdraw if you choose to. If you decide to leave the dividends, then you will be in a position to earn interest on the amount.||Whole life|
Key Benefits of AIA Life Insurance
AIA Family First Baby
AIA Family First Baby is a unique and comprehensive insurance plan which gives you dual protection by way of prenatal insurance and also a savings plan. This plan is designed to provide financial assistance to expectant mothers (as early as 18 weeks into the pregnancy) and also covers your baby, soon after it is born.
- Includes cover for conception via IVF.
- For expectant mothers, the Regular Premium Investment-linked Policy (ILP) provides Death Benefit, Total & Permanent Disability (TPD) Benefit and Critical Illness (CI) Benefit.
- For babies, the Regular Premium Investment –linked Policy provides Whole of life Death Benefit (up the age of 100 years), TPD Benefit and CI Benefit (subject to conditions).
- The AIA Family first Baby cover Rider offers benefits like Pregnancy Complications Benefit, Congenital Illness Benefit and Hospital Care Benefit for expectant mothers and their babies respectively.
AIA Family First Protect & AIA Family First Secure
The AIA Family first Protect & AIA Family First Secure are two unique plans which provide very affordable insurance cover for your family, as it progresses through different life stages like marriage, starting a family, future planning for the children’s future, planning for retirement, etc.
- Both these plans offer affordable cover for all your needs. Enjoy maximum coverage for the premium you pay.
- Flexibility is another great feature of these plans which allows you to invest a part of your regular premium in an ILP sub-fund of your choice.
- You can also withdraw your invested funds any time when you need it.
- Customize the plan according to your needs. Choose the amount of cover which you feel is adequate to cover your family’s needs and increase or decrease it according to changing needs.
AIA Financial Plus (USD)
Take care of your financial responsibilities with the AIA Financial Plus (USD) plan which gives you the surety of guaranteed cash as and when you need it.
- Guaranteed cash payouts at the end of the 5th year, 10th year and upon maturity at 15 years.
- You have to option of re-investing this money and earn handsome interest on the same.
- You only have to pay premium for 5 years, after which you can sit back and reap the benefits.
- Get increasing Life Protection with this plan as it provides your loved ones with guaranteed death benefit or the total premiums paid, whichever is higher.
AIA Gen3 (II)
This is a whole life insurance plan which not only provides for your child’s future but also for your grandchildren.
- This plan accommodates the financial needs of three generations of individuals – you, your child and your grandchildren.
- This plan is flexible in terms of letting you choose the cover that you need.
- Pay premiums only for 10 – 25 years and enjoy the benefits for a lifetime.
- Get 2.25% of your insured amount as guaranteed annual coupons from the 10th year of the policy.
- Choice to start receiving dividends after the second year of policy commencement.
- In case the insured undergoes Total or permanent disability (TPD) before the age of 70, all future premiums of the policy shall be waived.
AIA Guaranteed 8 For Life (US$)
This is a lifetime protection plan which ensures to look after your family and loved ones after you. This plan allows you to accumulate a significant amount towards savings for the future. The Guaranteed 8 For Life (US$) plan also holds the provision to ensure lifetime of protection up to 100 years with premium payment for only 8 years. You can chose to enhance the plan protection by opting from a list of benefits.
AIA Life Plus (II)
The AIA Life Plus (II) is a long term savings and protection plan which provides financial security for a lifetime up to the age of 100. Pay regular unchanged premiums for 25 years or up to the age of 70, whichever is earlier and enjoy coverage for your whole life. You can also opt from a list of riders to enhance the protection that your plan provides.
AIA Platinum Generations
This wealth management plan provides protection for your entire life with premium payments required only for a term of 10 years. Enjoy guaranteed cash payouts which you will receive annually along with the chance to earn additional returns each year in the form of annual dividends. The Platinum Generations plan also covers you against total and permanent disability (TPD), if it occurs after your 65th birthday. In this case, the insured will be entitled to an additional accelerated benefit payment up to a maximum of US$ 2.5 million.
AIA Secure Term Plus (II)
This is an affordable term insurance plan designed to provide you with financial security to meet long term needs at different stages of life.
- This plan provides affordable protection against death and terminal illness that renews up to the age of 101 years.
- Choose from a flexible term of 5, 10 or 20 years.
- Enhance the protection of your plan with a choice of optional riders.
AIA Guaranteed Protect Plus
This is a customizable one stop solution to your savings and protection needs. It gives you the freedom to adjust the level of coverage to match your requirements. The AIA Guaranteed Protect Plus provides protection for total and partial disability, critical illness and death. Payments need to be made only for a limited period of time which will entitle you to lifetime protection. There is also provision made to attach optional add-ons which will waive your future premiums in case of an unfortunate event.
AIA Life Insurance Coverage
|AIA Pro Lifetime Protector||
|AIA Guaranteed Protect Plus||
|AIA Secure Term Plus (II)||
|AIA Life Plus (II)||
|Direct – AIA Term Cover||
|Direct – AIA Whole Life Cover||
|AIA Gen3 (II)||
|AIA Secure Critical Cover||
|AIA Platinum Term||
|AIA Prime Secure||
AIA Life Insurance Promotions
AIA Vitality members enjoy great rewards. For S$5 per month, you not only get 10% additional coverage on selected life insurance policies, but you also get discounts when you stay, fly, and watch movies at any of AIA Vitality’s partner hotels, carriers, and theatres. The various promotions that you are eligible for as an AIA Vitality member are:
- S$3 off per standard movie ticket at Golden Village Multiplex. Ticket prices start at S$5.50 and are limited to 2 movie tickets per week.
- Members who have achieved Platinum Vitality Status after 1 January 2019 are entitled to a bonus amount of S$150.
- Members whose membership anniversary is between 1 January 2018 and 31 December 2018 are entitled to an annual cashback. Members who have achieved Gold Vitality Status will receive an annual cashback of S$60, while Platinum Vitality Status members will receive S$120.
- AIA Vitality members are entitled to discount for bookings made from AirAsia’s website. The discount will be given to you in the form of a cheque as cashback and not a discount at the time of booking.
- You can also enjoy discounts up to 50% while booking economy tickets on Emirates flights that start from Singapore. The discount percentage varies depending on your AIA Vitality Status.
- You can book a Royal Caribbean Cruise leaving from Singapore at discounts of up to 50% depending on your membership status.
- A 15% discount can be enjoyed at Marriott hotels and resorts subject to room availability. If your AIA Vitality Status is Silver or higher, you can enjoy additional discounts up to 35% in the form of cashback.
All of these promotions and rewards are subject to certain terms and conditions, so be sure to read the fine print before taking advantage of these offers.
How to Apply for AIA Life Insurance
You can apply for all AIA Life Insurance policies other than Direct Purchase Insurance Plans, via an AIA appointed representative. For the two Direct Purchase Insurance Plans – Direct AIA Term Cover and Direct AIA Whole Life Cover, you can contact the AIA Customer Service Centre to apply. You could also download and submit the completed form to your nearest AIA Insurance branch. Additionally, you can also contact AIA by calling 1800 248 8000. For customers who are currently overseas but looking to apply for one of these plans, can call 65-6248 8000.
Check Your Eligibility for AIA Life Insurance
Apart from various documents that you may be asked to provide, the age criteria to apply for the different AIA Life Insurance Policies are:
|AIA Pro Lifetime Protector||0-70|
|AIA Guaranteed Protect Plus||0-60|
|AIA Secure Term Plus (II)||0-70|
|AIA Life Plus (II)||0-70|
|Direct – AIA Term Cover||18-65|
|Direct – AIA Whole Life Cover||18-65|
|AIA Gen3 (II)||0-60|
|AIA Secure Critical Cover||0-65|
|AIA Platinum Term||16-65 for the term policy that ends at age 75 16-70 for the term policy that ends at age 100|
|AIA Prime Secure||35-70|
How to Claim AIA Life Insurance
For any life insurance claims, you can contact your AIA Financial Services Consultant or you can download the necessary claim forms from the form library webpage of AIA’s website.
Alternatively, you can visit any AIA Customer Service Centre during their working hours at 1 Finlayson Green or 3 Tampines Green. You could also call the AIA Customer Care hotline at 1800 248 8000 or 65 6248 8000 if you are overseas.
Eligibility for AIA Life Insurance
Following is the eligibility criteria for the various insurance plans under AIA Life Insurance.
AIA Family First Baby
Ladies between the age of 18 and 45 who are between 18 to 32 weeks of their pregnancy are eligible to apply for this insurance plan.
AIA Family First Protect
Applicant must be a citizen of Singapore or a Permanent Resident of Singapore who is not more than 70 years of age. For eligible Non-Singaporeans or Non-permanent citizens, the terms and conditions may differ. Please check the policy document for the same.
AIA Gen3 (II)
Applicant must be between 0 to 60 years of age when taking the policy. Applicants may insure themselves or their children under this policy.
AIA Life Plus (III)
Applicant must be between the ages of 0-70 years of age. Applicant can get themselves or their child insured, who falls under this age bracket
FAQs - AIA Life Insurance
What are the conditions excluded under the AIA Family First Baby Plan?
Use of un-prescribed drugs, certain pre-existing medical conditions, abortion, carrying 3 or more fetuses in a single pregnancy, are some of the exclusions of this insurance plan. You can refer to the plan policy document for the complete list of exclusions.
What do I have to do if I wish to change my investment portfolio with my AIA Family first Protect Plan?
All you have to do is contact your AIA Financial Services Consultant or Insurance Representative to make any changes to your investment plans.
Are the premium rates on the AIA Gen3 (II) policy guaranteed?
Yes, the premium rates for the AIA Gen3 (II) policy are guaranteed.
Are there any factors influencing the premium payment period with the AIA Life Plus (III) plan?
For the AIA Life Plus (III) plan, the premium payment period depends not just on the age of the insured but also when the policy is purchased.
What is the time period available for premium payment with the AIA Guaranteed Protect Plus plan?
Customers have the option to pay their premium in 12 or 20 years, whichever suits their budget.
News About AIA Life Insurance
AIA gets awarded for Life Insurance
AIA was awarded with the SBR International Business leader for its Life Insurance thus setting itself as an industry leader. AIA is among the largest independent pan-Asian life insurance groups that is listed publicly. With a presence in over 18 countries. Their customer centric approach led them to win the Singapore Business Review International Business Awards 2017 held at the Conrad Centennial Singapore on June 8, 2017. The award was accepted by Alistair Chamberlain. AIA is not only an industry leader in terms of life insurance but was ranked first for having the most number of MDRT registered members. MDRT stands for Million Dollar Round Table. Not only did they showcase a robust performance for 2016, they also had a double digit growth in terms of Value of New Business through an increase in the number of active agents. They also showcased higher productivity per agent.
28th June 2017