AIA Hong Kong Launches ‘AIA Assemble’, First Critical Care Product on the Market

New service will allow customers to choose different types of critical illness coverage according to individual needs and budget

Enjoy up to 4 months of premium reimbursement and free HPV vaccination benefits during the promotion period

Singer-songwriter Terrence Lamb Appearing in a new ad, sharing personal experience on the importance of creating freely choice

Hong Kong, May 18, 2023 /PRNewswire/ — AIA Hong Kong today announced the imminent launch of the market’s first “AIA Assemble”.¹, sets a new industry standard by allowing customers to enjoy a higher level of flexibility and freedom as they customize their critical illness protection and coverage amount with customizable critical illness plans.In addition to compulsory life insurance and cancer insurance, AIA Assemble gives customers the freedom to choose critical illness insurance² Addresses multiple cancers, cardiovascular diseases, neurological diseases, and other diseases. In addition, with multiple cancer policies, you can claim up to 5 additional cancer policies. Customers can adjust the amount of each critical illness coverage based on their individual needs and budget, up to three times the initial life insurance coverage.³.Innovative new product designed based on findings^Four AIA Hong Kong recently conducted a client’s critical illness protection needs and concerns.

When all optional critical illness coverage is included, the total coverage of these coverages can be up to 25 times the original life insurance coverage. In addition, Critical Illness coverage is independent of each other, so a claim for a particular Critical Illness coverage will not affect other Critical Illness coverage protections.During the campaign period, premiums for up to 4 months will be refunded.^Five 1 dose of HPV vaccine^Five Provided upon successful application.

AIA Hong Kong recently conducted a customer survey^Four It aimed to identify trends in critical illness protection needs and customer pain points. Below are some of the key discoveries that influenced the design of the new product.

• Nearly half of respondents between the ages of 18 and 29 said they did not feel an urgent need to purchase critical illness insurance, the highest percentage among all customer demographics. The younger the respondents, the less they felt the need for insurance.
• Nearly 60% of respondents between the ages of 18 and 29 said premiums were their top concern when purchasing a critical illness insurance product. This percentage was the highest among all customer segments.
• Nearly 30% of respondents who already have a serious illness protection plan still feel that it is inadequate.The average recognition gap is about HKD 1.84 million.

MS Alice LiangChief Proposal Officer of AIA Hong Kong, macau“We are seeing an increasing trend in the incidence of serious illnesses among young people, but young customers can easily lose sight of the importance of being protected against serious illnesses. According to our survey, about 70% of respondents said that they wished they could.” Customizing their own coverage plan for critical illness is thought to increase their willingness to purchase insurance, and this idea Most common among young respondents between the ages of 18 and 29.

“At the same time, there is a growing awareness among customers who have purchased coverage plans for critical illnesses, and along with it, a desire to find suitable solutions to fill the gaps in coverage,” continued Liang. rice field. “Our customers have a variety of critical illness coverage needs and budgetary considerations, and we understand that many want more flexibility when it comes to choosing insurance coverage. As the first product of its kind on the market, AIA Assemble offers our customers unprecedented freedom.” Especially suitable for customers looking to enhance certain aspects. For a healthier, longer, better life. ”

AIA Assemble is a participating insurance plan that provides critical illness and life coverage to insured persons up to age 100.⁶ Also an opportunity to accumulate wealth. The main features of this plan are:

• First product on the market¹ Customized Critical Illness Coverage²: Customers can add four optional policies to their compulsory life and cancer insurance, including multiple cancers, cardiovascular, neurological and other ailments.Customers who choose all covers⁷ Special coverage for terminal illness and loss of independence is automatically provided⁸, a total of 7 covers. A customer’s underwriting requirements may vary depending on the cover chosen.
• Customization of specific critical illness coverage amount: AIA Assemble customers are free to set the amount of coverage for certain critical illnesses up to 300% of the original life insurance policy amount.³.Total coverage for all critical illness coverage can be up to 25 times the original life insurance coverage⁹.
• You can make up to 5 additional claims for optional multiple cancer coverage. Customers who choose Multiple Cancer can make up to 5 additional claims for new cancers or continuations, metastases or recurrences of previous cancers. Each cancer insurance claim must meet her three-year waiting period.
• Premiums and claims for Critical Illness Cover are calculated separately^Ten: Claiming one Critical Illness Cover does not affect the protection provided by any other Critical Illness Cover. Even if certain benefits are paid for critical illness coverage, customers may continue to claim other critical illness coverage. When the policy is paid in full and the current sum insured reaches zero, the customer no longer has to pay the premium.¹¹.

New AIA Assemble ad video premiere
AIA Hong Kong also premieres new AIA Assemble video ad featuring the singer/songwriter Terrence Lambtells personal stories of how he made the right choices at different stages of his life to build a successful career. Terrence’s story reflects the essence of AIA Assemble. AIA Assemble gives you the flexibility to build your own protection plan by customizing coverage according to your needs and budget. He also encourages people to recognize the importance of getting critical illness protection as soon as possible.

New ads will be published on AIA and other social media platforms on May 19th. The launch will be followed by a series of advertisements on television, billboards, bus panels and digital media. Click the link to see the ad: https://youtu.be/kTdHAbiju48

The product information in this article does not include complete product terms. For more information on product features, terms and conditions, exclusions and major product risks, please refer to the relevant product brochure and policy or visit our website. If you would like to read a sample policy document before applying, a copy is available from the AIA. A life insurance policy is a long-term insurance contract.

Note:

1. like March 22, 2023compared to critical illness insurance products offered by Hong Kong major insurance company.
2. The combination of covers must meet the product requirements. Life insurance and cancer insurance are mandatory. Certain minimum and maximum requirements apply to the initial guarantee amount for each cover. Initial coverage for some policies is up to three times the initial coverage amount for Life Cover. Coverage cannot be added or removed after insurance is issued.
3. The “Initial Guaranteed Amount” for each coverage refers to the original purchased coverage amount. Life insurance current coverage refers to the initial coverage of a life insurance policy less all benefits payable under the policy. For all other policies, the current coverage for each policy refers to the original coverage for the relevant policy minus all benefits paid under the same policy.
4. Source: We conducted a study on critical illness protection. March 2023. A total of 448 respondents between the ages of 18 and her 64 years were interviewed with her online questionnaire. AIA, “Company” or “Company” means AIA International Limited (Incorporated). Bermuda with limited liability).
5. For details, terms and conditions of the premium refund and vaccination offer related to AIA Assemble, please refer to the promotional leaflet or visit the AIA website (aia.com.hk).
6. The payment period for multiple cancer insurance is until the insured person reaches the age of 85. The period of benefit for loss of independence is until he reaches the age of 65. Critical Child Illness Benefit coverage ends when the insured reaches her 18th birthday.
7. Selecting multi-occurrence insurance is not a requirement.
8. The Initial Coverage is equal to the lowest Initial Coverage of all selected policies, and the amount of benefits paid is limited by the Life Insurance Current Coverage.
9. Life insurance includes a compassionate death benefit equal to 5% of the original life insurance policy amount. The Compassion Death Benefit is not affected by the benefits paid.
10. All claims must meet the relevant waiting period requirements. When the total benefits paid under the policy reach 100% of the original life insurance coverage, the guaranteed cash value is reduced to zero and the policy no longer provides terminal bonuses. Terminal Illness and Loss of Independence coverage automatically terminates when critical illness benefits are paid under your critical illness policy.
11. Future multiple cancer insurance premiums will be waived once the total amount of benefits paid under the cancer insurance reaches 100% of the original cancer insurance coverage.

About AIA Hong Kong & macau
AIA Group Limited has established businesses in the following regions: Hong Kong To date, AIA Hong Kong and AIA Macau have nearly 18,000 financial planners.¹, also has an extensive network of intermediaries and bancassurance partners. Serving over 3.4 million customers²We offer a wide range of professional services and products ranging from individual life, group life, accident, medical, health, pension and personal insurance to investment linked guarantee schemes with numerous investment options. We also focus on providing superior product solutions to meet the financial needs of our high net worth customers.

Source TA Communications Limited/PRN Asia