AIA Bhd. Launches New Education Plan With Bonus Payment to Help Parents Boost Their Children’s Savings Funds
Bacaan 7 min
Kuala Lumpur, 10 December 2013 – AIA Bhd. unveiled a new education plan that combines savings as well as protection and investment elements to cater for the needs of discerning parents who want to better plan for their children’s education needs and desire flexibility.
A-EduAchieve is unique as it comes with a University Startup Booster, a bonus payment of up to 15 times the monthly regular premium which will be credited into the plan automatically when the child reaches age 18 to increase the education fund value.
Furthermore, A-EduAchieve gives parents the flexibility to save or withdraw the fund value as and when they need to pay for their child’s education fees.
The investment element, where parents are given the choice of 17 AIA funds to invest in, will help to grow the education savings portion which will be paid when the child reaches age 25. Parents also have the option of switching their investment funds to suit their risk appetite at any point.
Thomas Wong, Chief Marketing Officer of AIA Bhd. said: “Every child is unique and requires nurturing in different ways but the one common desire among parents is to provide the best education for their children so they get that vital head start in life. A-EduAchieve was designed to fulfil that desire by providing parents with a flexible savings and protection opportunity so they are more in control of their children’s education planning.”
A-EduAchieve also comes with an Anniversary Bonus which allows the child to enjoy increasing protection. In addition, the plan offers parents peace of mind in the form of a 5-year guaranteed coverage where the policy will continue to be active in the first five years even if the fund account value is insufficient to cover the policy charges. Additionally, should the parent, lose her ability to continue to pay for the plan due to death or disability, future premiums will be waived to ensure that the child’s education dreams and financing needs are not impacted.
Another interesting feature of A-EduAchieve is the option for the child to convert the plan to another one of their choice upon policy maturity so that the child can continue to enjoy the same level of coverage under the new plan without further underwriting. The plan also qualifies parents for a personal tax relief of up to RM 3,000 per annum for medical and educational insurance.
AIA Bhd. has collaborated with nine child enrichment centres and retailers namely Childhood Basic Marketing, DaVinci Creative Kids, Julia Gabriel Centre, KinderMusik, KizSports & Gym, Megakidz, Poney, The Cooking House and Yamaha Music to offer discounts and privileges to A-EduAchieve policyholders when they enroll their children at any of these centres or make purchases at the participating retailers.
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About AIA Bhd.
AIA Bhd., formerly American International Assurance Bhd., is a leading insurer in Malaysia, where we have been privileged to do business since 1948. We offer a suite of high quality products including Protection, Health, Personal Accident, General Insurance, Employee Benefits, Retirement and Family Takaful options to meet our customers’ protection and financial security needs at every life stage. Through our wide and diverse distribution footprint which comprises a tied agency force of close to 17,000 members, our exclusive bank partner’s branches nationwide as well as corporate sales teams and brokers, we give our customers the choice of deciding how, when and where they connect with us.
Part of the AIA Group, the largest independent publicly listed pan-Asian life insurance group, AIA Bhd. in Malaysia has the financial strength, experience, service centre network as well as a well-trained team of more than 2,000 staff to serve its over 2.6 million customers nationwide. As at end 2012, AIA Bhd.’s total asset worth was RM23 billion, with a paid-up capital of RM242 million.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or “the Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has operations in 17 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the AsiaPacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$147 billion as of 31 May 2013.
AIA meets the savings and protection needs of individuals by offering a range of products and services including retirement savings plans, life insurance and accident and health insurance. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents and employees across Asia-Pacific, AIA serves the holders of more than 27 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
Media Contacts
Darshini M. Nathan
Head, Corporate Communications
