AIA Insurance’s Smart Wealth – short term commitment, long term wealth creation
View(s):AIA Insurance recently introduced AIA Smart Wealth, a savings plan designed exclusively for people who want to grow their wealth and be financially protected through all stages of life.
Aimed at addressing different kinds of needs, Smart Wealth is a flexible savings plan that AIA manages using professional fund managers who can offer investors a solid, steady return year after year. Unlike traditional life insurance products, which require long-term premium paying commitments, Smart Wealth is for customers who are saving for the long term (up to 20 years) but only want to make payments for 4-6 years.
In addition to the shorter premium payment term, Smart Wealth has a special loyalty reward up to 370 per cent of annual premium depending on the Policy Term and Premium Paying Term which is paid into the policy on the 15th and 20th years. “This bonus enhances your savings and allows you to build a solid investment for your needs. Further, not all of us want our funds as a lump sum, so Smart Wealth, after maturity, allows you to receive your savings in the form of a growing monthly payment which is ideal for people looking for a retirement solution or to provide a monthly income to a loved one. This monthly income is further increased by AIA’s unique Pension Booster feature which pays 30 per cent more of the annual dividend rate,” the company said in a media release on the product.
Another key feature that separates AIA Smart Wealth from other savings instruments, such as fixed deposits, is the life insurance that is built into the product. Smart wealth comes standard with a significant life insurance cover but allows you to add much more if you would like to make sure the family are well taken care of, just in case.
Smart Wealth comes with other features such as no surrender charges after the 10th year, so you’re able to enjoy a higher level of liquidity and an emergency withdrawal option etc.