American International Assurance (AIA) Company has more than 2 million policies, covering the whole spectrum of insurance products, across five offices in Singapore. A wholly owned subsidiary of the globally powerful American International Group, Inc, AIA was given the Readers Digest Trusted Brand – Gold Award in 2007.
AIA has the following main life insurance policies in Singapore:
AIA Asset Growth This is an investment-linked life insurance plan with your premiums being invested in AIA Investment Funds and AIA Managed Portfolios. You need a minimum S$5,000 investment and you can choose to pay by cash or through your Supplementary Retirement Scheme (SRS) Account. No medical examination is need and no health questions will be asked to qualify for this plan. The funds are managed by AIA Global Investment Group and, upon your death, your dependents will be given the cash value of those funds. You can switch funds and top up for any amount you wish.
AIA Life Plus A whole life insurance plan offered by AIA designed to protect your family from financial strife in case you die. You are able to cover yourself and your family in a policy that has the potential to grow in value while your premiums stay the same. Your coverage for death and total and permanent disability has the potential to grow every year with reversionary bonuses and on top of it, you may get even more more coverage with a terminal bonus. From the third year of your policy, your guaranteed cash value starts to accumulate. You are also protected from permanent disability, if it occurs before age 65, as well as having the ability to add riders to your policy such as hospitalisation, term, accident and critical illness.
AIA Moneyback Protector This life insurance plan offers triple protection plus 100% refund of premiums. While other term life insurance plans normally provide protection during a defined term with your premiums absorbed by the insurer, this plan guarantees 100 per cent money back if you have not made any claims. It also provides the standard death, accident and terminal illness protection. You can choose 15, 20 or 25-year coverage periods depending on your needs. Premiums are paid for the first 10 years with your benefits continuing until the plan expires. The plan can also be converted to a regular premium whole life or endowment plan without need for medical examination. And you can enhance your coverage with a other optional benefits including protection for critical illness, disability and hospitalization.
AIA Premier Life This is an innovative investment-linked life insurance plan from AIA that's tailor made for you. It has a life insurance protection designed to meet your needs at whatever stage you’re at. It offers you the freedom to adjust you insurance coverage and even temporarily cease you premium payments if needed. This plan also allows you to invest in 22 AIA-managed funds around the world. This plan offers the possibility of large financial returns depending on the performance of funds.
AIA Prestige Term AIA Prestige Term life insurance plan kicks off with S$50,000 worth of coverage for your dependants in the event of your death or disability. In case of total or permanent disability before age 65, you will receive a lump sum equivalent to 100% of the coverage amount.There is also extra protection for accidents, disability, hospital stays and unemployment. Added benefits include help to maintain premiums on this plan should you become unemployed. The policy is valid for five years and renewable until age 70. You can even convert the plan to a whole life or endowment life insurance policy. And in case of death, your beneficiaries can use money from the plan to pay bills and protect your assets.
AIA Smart Growth This is a savings plan to help you financially in the future, whether it is for your children’s education, retirement or simply to build up some savings. The plan also provides for death protection.
What Next?
If you are not sure what type of life insurance is right for you (term life, whole life, universal life, endowment life insurance, etc.), we recommend that you read Guide to Life Insurance Types in Singapore. For information on available life insurance policies from other companies, refer to Related Links section at the end of this page. Once you have decided to get a life insurance, it's very important that you choose a competent and professional life insurance broker in Singapore. A good insurance agent will first take the time to understand your family situation and insurance needs and then present with a life insurance product that best suits your needs.
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