ARTICLE

AIA Hong Kong is Most Preferred Brand for Multi-Currency Savings Plans　Further Enhances AIA "Global Power Multi-Currency Plan 2" to Offer Greater Flexibility

18 January 2023

Even More Versatile with Up to Nine Currencies including Euro and Singapore Dollar
and Four Premium Payment Terms for All-Round Wealth Planning

Apply Now to Enjoy a Premium Refund as High as 25%

Following the successful launch of AIA "Global Power Multi-Currency Plan" to an enthusiastic reception which propelled AIA to become the most preferred brand for multi-currency savings plans1 in Hong Kong, AIA Hong Kong announces the launch of its enhanced AIA "Global Power Multi-Currency Plan 2" with more flexible offerings to empower customers to grasp global currency opportunities for all-round financial planning. The newly-added Euro (EUR) and Singapore dollar (SGD) options, coupled with the existing seven currencies, including Renminbi (RMB), US dollar (US$), British pound sterling (GBP), Australian dollar (AUD), Canadian dollar (CAD), HK dollar (HK$) and Macau pataca (MOP2), enable customers to exercise the Currency Exchange Option3. With nine currencies the Plan leads the market with the most diverse currency options available4. Including the new ten-year premium payment term, the Plan offers a total of four premium payment terms5, and together with the Total Internal Rate of Return (Total IRR) expected to exceed 7%6, the first-in-market "Bonus Unlock Option" and "Policy Split Option7" features, the Plan provides customers with attractive potential return and more flexibility in long-term wealth planning for different needs across all life stages. 
 
In addition, the AIA "Global Power Multi-Currency Plan 2" welcomes applications from corporates for financial planning or employee benefit, helping corporates in long-term wealth accumulation to achieve financial goals and reward employees for their performances.
 
From now until 31 March 2023, individual customers who successfully apply for AIA "Global Power Multi-Currency Plan 2" can enjoy a premium refund as high as 25%8.
 
Ms. Alice Liang, Chief Proposition Officer of AIA Hong Kong & Macau, said, "AIA's recognition as the most preferred brand1 for multi-currency savings plans in Hong Kong is a testament to our thorough understanding of customers' call for more flexibility to seize global opportunities for all-round financial planning. Our continuous drive for product excellence has propelled us to enhance the product features of AIA 'Global Power Multi-Currency Plan 2'. With the newly-added currencies taking us to a total of nine currency options, a choice of four premium payment terms, as well as the new inclusion of corporate applications – the plan's versatile options empower individuals and corporates with greater financial flexibility to accumulate wealth and achieve long-term planning. We will continue to take deeper dives to understand different customer segments' demands as part our drive to help people live Healthier, Longer, Better Lives."
 
The AIA "Global Power Multi-Currency Plan 2" has been further enhanced, making it an even more versatile and diverse multi-currency savings plan with greater flexibility for wealth management. The enhancements and key features include:
 
  1. Up to Nine Currency Options: 
    • The Plan adds Euro (EUR) and Singapore dollar (SGD) options to the existing seven currencies, including Renminbi (RMB), British pound sterling (GBP), US dollar (US$), Australian dollar (AUD), Canadian dollar (CAD), HK dollar (HK$) and Macau pataca (MOP2) for customers to exercise the Currency Exchange Option3. It leads the market with the most diverse currency options available4. Different currency policies provide different returns to help customers grasp global opportunities.
       
  2. Four Premium Payment Terms:
    • Customers can choose among the four premium payment terms – including a one-time premium payment term, a three-year premium payment term5, a five-year premium payment term, and the newly-added ten-year premium payment term option based on their financial needs and budget.
       
  3. Corporate-owned Policies:
    • In addition to individual customers, the plan also welcomes applications from corporates for financial or employee benefits planning.
       
  4. Potentially Attractive Long-term Returns:
    • At the end of the 100th policy year, the Total IRR is expected to exceed 7%6 for the specific currency policy. 
       
  5. Other Flexible Options:
    • The plan also provides various flexible options, such as the first-in-market "Bonus Unlock Option" and "Policy Split Option7", etc. 
Remarks:
  1. AIA commissioned international research and data analysis firm YouGov to interview 1,028 respondents in Hong Kong in September 2022.
  2. Macau pataca (MOP) is only available for policies issued in Macau.
  3. The Currency Exchange Option allows customers to change their policy currency to another currency selected by them (including Renminbi (RMB), British pound sterling (GBP), US dollar (US$), Australian dollar (AUD), Canadian dollar (CAD), HK dollar (HK$) Macau pataca (MOP; only for policies issued in Macau), Euro (EUR) and Singapore dollar (SGD)) by exchanging their current plan (i.e. Global Power Multi-Currency Plan 2) to the latest plan under the Global Power Series in their designated policy currency, while maintaining the policy duration and without requiring a medical examination. From the end of the 3rd policy year onwards, customers can choose to exercise the Currency Exchange Option within 30 days after the end of each policy year. This option can only be exercised once per policy year. There could be a material difference between Global Power Multi-Currency Plan 2 and the latest plan available under the Global Power Series at the time when customers exercise the Currency Exchange Option. Material difference includes but not limited to: product features (i.e. benefits, policy terms and conditions, investment strategy, target asset mix and relevant investment return and limitation); and the availability of Currency Exchange Option, and in a worst-case scenario, it may only be a one-time option under the current plan depending on the future new plan's features. Customers shall not purchase this product solely for the Currency Exchange Option. Customers should carefully evaluate the difference between the current plan and the latest plan under the Global Power Series available for exchange when exercising the Currency Exchange Option and consider whether the latest plan suits their needs. Please refer to the product brochure for details and relevant risks.
  4. As of 18 January 2023, another insurance company also offers nine currencies.
  5. The option for three-year premium payment term is on limited offers.
  6. Case Study: A customer chooses RMB as the policy currency with a five-year premium payment term. The annual premium is RMB 60,000 and the total premiums paid is RMB 300,000. At the end of the 100th policy year, the projected total surrender value can reach up to RMB263,767,201 with the Total IRR expected to exceed 7%. The Total IRR is neither indicative of future performance nor guaranteed. In the worst-case scenario, the actual Total IRR can be equal to the Guaranteed IRR, which is 0.39% at the end of the 100th policy year. The projected total surrender value illustrated is the sum of the policy's guaranteed cash value plus the non-guaranteed cash values of Reversionary Bonus (if any) and Terminal Bonus (if any) and is based on the current projected surrender value and bonus scales. The current projected surrender value and bonus scales are neither indicative of future performance nor are they guaranteed. Past performance or current performance of our business should not be interpreted as a guide for future performance. The actual face values and cash values of the Reversionary Bonus and Terminal Bonus payable throughout the duration of the policy are non-guaranteed and may vary from year to year at AIA's sole discretion, which may be greater or less than the previously declared amounts based on a number of factors and may be less or more favourable than those illustrated. The above example assumes that no cash withdrawal or no policy loans are taken throughout the term of the policy, and Bonus Lock-in Option, Bonus Unlock Option, Currency Exchange Option and Policy Split Option are not exercised. The projected breakeven year is not guaranteed. The Total IRR at the end of 100th policy year is rounded to the nearest percentage and is not guaranteed. The actual Total IRR at the end of 100th policy year may be higher or lower than that illustrated. The Total IRR at the end of 100th policy year assumes that (i) all premiums are paid in full when due and as planned; (ii) the total premiums paid exclude the levy collected by the Insurance Authority; (iii) no death benefit or surrender value has been paid before or becomes payable; (iv) no withdrawal has been made before and no indebtedness under the policy; and (v) the principal amount of the policy remains unchanged throughout the policy term. The calculation of the Total IRR at the end of 100th policy year takes into account: (i) the total premiums paid during the premium payment term for the basic plan; and (ii) the projected total surrender value at the end of the 100th policy year. The actual Total IRR may be based on several factors (including but not limited to investment returns, expenses, claims, surrenders, timing and frequency of exercising the Currency Exchange Option and Bonus Unlock Option) and may be less favourable or longer (as the case maybe) than those illustrated. There can be variance for IRR under different premium payment terms, policy currency options and different plans under the Global Power Series since they are totally independent. For IRR of Global Power Multi-Currency Plan 2 policies with different plan options, please refer to relevant benefit illustrations. The Total IRR of Global Power Multi-Currency Plan 2 for specific policy currency is not indicative of future performance of future plans under the Global Power Series.
  7. For more details, please refer to the terms and conditions in the brochure or go to https://www.aia.com.hk/content/dam/hk/en/pdf/product-brochure/individuals/global-power-multi-currency-plan-2/GlobalPowerMultiCurrencyPlan2_en.pdf
  8. The promotional offer of up to 25% Premium Refund is only available to ten-year premium payment term. The promotion is valid from now until 31 March 2023. Terms and conditions apply. For details, please visit www.aia.com.hk.
All information above is for reference only and does not constitute any offer and/or insurance product recommendation. The product information in this material does not contain the full terms of the product, for the details of the product features, terms and conditions, exclusions and key product risks, please refer to the product brochure and policy contract of relevant products or visit the website. In case the customer wants to read policy contract sample before making an application, they can obtain a copy from AIA. Life insurance policies are long-term contracts of insurance. Should the customer surrender the policy early, they may receive an amount considerably less than the total amount of premiums paid.
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About AIA Hong Kong & Macau
AIA Group Limited established its operations in Hong Kong in 1931. To date, AIA Hong Kong and AIA Macau have over 17,000 financial planners1, as well as an extensive network of brokerage and bancassurance partners. We serve over 3.4 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, pension, personal lines insurance to investment-linked assurance schemes with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high net worth customers.
1. as at 30 September 2022
2. Including AIA Hong Kong and AIA Macau's individual life, group insurance and pension customers (as at 30 September 2022)
AIA Hong Kong
Ms. Deronie Tan
+852 2881 4413
Bentley Communications Limited
Mr. Kim Tsoi
+852 3960 1913





AIA Group Limited is incorporated in Hong Kong with limited liability.
"AIA Hong Kong & Macau", "AIA Hong Kong", "AIA Macau", "AIA" or "the Company" herein refers to the Hong Kong Branch and/or Macau Branch of AIA International Limited (Incorporated in Bermuda with limited liability).
"Hong Kong" and "Macau" herein refer to "Hong Kong Special Administrative Region" and "Macao Special Administrative Region", respectively.

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