Life Insurance

Education Planning

Building a bright future with our children starts with the right plan. Certain insurance plans will help you save for your child’s education fund with guaranteed cash payments. Pick from the plans below to get started

Guaranteed Annual Income

AIA Spring Income Plan is a participating insurance plan that provide you with guaranteed cash value, guaranteed death value, guaranteed annual income, non-guaranteed Annual Dividends (if any) as well as non-guaranteed Terminal Dividend (if any).

Learn more on AIA Spring Income Plan

Savings
Education
Protection
Retirement
Personal Details
Result

How much have you currently saved and within what time frame do you want to achieve your savings goal

Amount Needed

HK$

Expected Timeframe

How much have you saved so far?

HK$

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The “first pot of gold” has risen from HK$2 million to HK$2.4 million^4,5
The 3 most important savings goals are to travel around the world, own an apartment and retire early^4,5
People hold almost 60% of personal assets in cash and deposits but these assets do not keep pace with inflation^4,5

Savings
Education
Protection
Retirement
Personal Details
Result

How are you planning for your children's education

How much have you set aside for your children’s education?

HK$

Tell us a little about your children

My child is

+ Add Child

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90% of parents aim to support their children through university¹
Parents plan to save HK$440,000 per child¹
Parents have a gap of 60% between their initial savings goal and the actual cost of education¹

Savings
Education
Protection
Retirement
Personal Details
Result

How much life insurance do you already have?

HK$

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74% of people are concerned about the risk of heart disease and cancer⁶
74% of people feel their health is not as good as it was five years ago⁶
The main source of stress are work pressure (77%); financial worries (75%); managing family needs (72%)⁶

Savings
Education
Protection
Retirement
Personal Details
Result

How much have you set aside for your retirement?

HK$

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65% of people are not confident that they will achieve their desired retirement goals²
The average retirement age for people in HK is 61 years old^2,3
The median desired spend after retirement for people in HK is HK$13,386 per month²

Savings
Education
Protection
Retirement
Personal Details
Result

Tell us about yourself

1. Whats your gender?

Male Female

2. Is your spouse currently working?

3. How old are you?

4. What is your monthly income?

HK$

5. How many dependents rely on you, excluding children

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Ammount needed for HK$ 24,000,000

Total Gap: HK$ 24,000,000

Savings Gap

Education Gap

Life Protection Gap

Retirement Gap

You’re looking to build the future you dream of. Our advisors are ready to help you achieve it.

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75% of people do not seek help from a financial advisor to formulate an investment or retirement plan⁷
Almost 70% of people have no idea about their investment returns⁷

Guaranteed Annual Income

AIA Spring Income Plan is a participating insurance plan that provides you guaranteed cash value, guaranteed death value, guaranteed annual income, non-guaranteed Annual Dividends (if any) as well as non-guaranteed Terminal Dividend (if any).

Key Features

Success Stable returns for a brighter future
Success Short premium payment terms for a prompt income
Success Guaranteed annual income
Success Life Protection

Success Benefit received when policy matures
Success Easy to join
Success US dollars or HK dollars as policy currency

Product at a glance

Stable returns for a brighter future

Provides you with guaranteed cash value, guaranteed death value, guaranteed annual income, as well as non-guaranteed Annual Dividends (if any).

Once the policy has been in force for 5 years or more, it will also provide you with a one-off non-guaranteed Terminal Dividend (if any) if:

you surrender the policy; or
the insured, who is the person protected under the policy, passes away and the death benefit is payable in a lump sum.

You may also choose to receive the guaranteed annual income and non-guaranteed Annual Dividends (if any) in cash or allow these sums to accumulate in your policy with potential interest (if any), and withdraw them at any time on or before the maturity of your policy in a lump sum.

Short premium payment terms for a prompt income

You can choose a one-time premium payment, or you can spread payments over a 3-year or 5-year period and receive the guaranteed annual income from the end of the policy year after the policy paid up, until the end of the income period (the income period is the period during which you will receive guaranteed annual income).

Guaranteed annual income

Offers guaranteed annual income throughout the income period.

Premium Payment Term	Insured’s Age at Policy Issue	Income Period	Benefit Term
One-time premium payment	15 days to age 80	18 years	18 years
3 years		15 years	17 years
5 years		15 years	19 years

You can also choose to receive your guaranteed annual income under the level mode or the increasing mode when applying for this plan:

Income Payment Mode	Description
Level mode	A fixed guaranteed annual income is paid yearly giving you greater stability during retirement.
Increasing mode	Guaranteed annual income paid out increases annually, alleviating the effects of inflation over the long term.

Life Protection

If the insured passes away within the first 3 policy years (for one-time premium payment policy) / prior to the commencement of the Income Period (for 3-year or 5-year premium payment policy)

Premium Payment Term	Death Benefit
One-time premium payment	total premiums paid for the basic plan, minus guaranteed annual income paid to you (if any); plus accumulated guaranteed annual income with interest (if any); plus accumulated non- guaranteed Annual Dividends with interest (if any).
3 years / 5 years	total annual premiums paid for the basic plan with no extra premium loading; plus accumulated non-guaranteed Annual Dividends with interest (if any).

If the insured passes away after the end of the 3rd policy year (for one-time premium payment policy) / after the start of the income period (for 3-year or 5-year premium payment policy), but before the policy matures

Premium Payment Term	Death Benefit
One-time premium payment / 3 years / 5 years	future unpaid guaranteed annual income; accumulated guaranteed annual income with interest (if any); accumulated non-guaranteed Annual Dividends with interest (if any); plus non-guaranteed Terminal Dividend (if any)(applicable to policy that has been in force for 5 years or more).

If the insured passes away due to a covered accident within the first 3 policy years (for one-time premium payment policy)/ prior to the commencement of the Income Period (for 3-year or 5-year premium payment policy), AIA Spring Income Plan also pays an additional benefit equal to the total annual premiums paid for the basic plan with no extra premium loading. The maximum aggregate amount payable relating to this benefit is US$1,000,000 / HK$7,500,000 taking into account all policies issued with any benefit of a similar nature paid or payable for the same insured.

Benefit received when policy matures

At the end of the benefit term, the policy will mature and a maturity benefit will be paid to you. This benefit will include:

accumulated guaranteed annual income with interest (if any); and
accumulated non-guaranteed Annual Dividends with interest (if any).

AIA will deduct all outstanding debt under your policy before making payment to you and provided that the insured lives till the end of the benefit term.

Easy to join

No medical examination is required, subject to the prevailing rules and regulations

This is a participating life insurance product underwritten by AIA International Limited (Incorporated in Bermuda with limited liability)

Please refer to product brochure for details including “Key Product Risks”, “Key Exclusions to Accidental Death Benefit”, “Warning Statement”, and “Additional Important Information”.

Get AIA Spring Income Plan Brochure

Phrase	Definition
Annual Dividend	a yearly payout made to the policyholder, usually on the policy’s anniversary
Accidental Daily Hospital Cash	provides a daily payment during hospital stays to cover loss of income or to pay for additional medical expenses
Cash Value	the amount of cash you will get back if you cancel a policy early. Also called surrender value or cash surrender value
Curtailment of Trip	cutting a trip short
Designated Beneficiary	the person you choose to inherit your policy payout
Death Benefit	the amount that is paid out to a beneficiary when the policyholder passes away. It could be a yearly amount or a lump-sum payment
Dividend	the income paid out to you from the savings part of your life insurance policy. This can be guaranteed or non-guaranteed
Dividend Accumulation	an option that allows dividends to build up and earn interest rather than be paid out to the policyholder
Face Value/Amount	the amount of money you wish to be covered for. This is also called the 'sum insured’ or 'sum assured'
Income	this is paid out to you from the life insurance part of your policy. The payouts are normally set out in advance
Income Payment Mode	you can choose the way you get paid your annual income. The choices are level mode (the same amount each year) or increasing mode (payouts increase each year)
In Force	the total amount of life insurance issued and outstanding. This amount includes dividends paid
Maturity benefit/dividend	the cash you get back at the end of the policy term
Premiums	the fee you pay an insurance company for your policy which goes towards your dividend/income payouts
Reserve Fund	the cash left in your policy after any payout has been paid
Suicide Clause	some life insurance policies will hold back on a claim if the policyholder commits suicide. Other policies may return only the premiums paid in
Surrender Value	When you cancel your insurance policy early, you will be paid a set amount only. See also Cash Value

Disclaimers and Remarks

Important Notes
1. Citibank (Hong Kong) Limited, being registered with the Insurance Authority as a licensed insurance agency, acts as an appointed licensed insurance agent for AIA International Limited (the "Insurance Company").
2. Citibank (Hong Kong) Limited's role is limited to distributing insurance products of the Insurance Company only and Citibank (Hong Kong) Limited shall not be responsible for any matters in relation to the provision of the products.
3. Insurance products are products and obligations of the Insurance Company and not of Citibank (Hong Kong) Limited. Insurance products are not bank deposits or obligations of, or guaranteed or insured by Citibank (Hong Kong) Limited,
  Citibank, N.A., Citigroup Inc. or any of their affiliates or subsidiaries, or any local governmental agency.
4. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between you and Citibank (Hong Kong) Limited out of the selling process of any insurance product conducted by Citibank (Hong Kong) Limited as agent for Insurance Company or the processing of the related transaction, you may enter into a financial dispute resolution scheme process with Citibank (Hong Kong) Limited in accordance with the applicable rules in Hong Kong. However any dispute over the contractual terms of insurance products should be resolved directly between you and the Insurance Company.
5. All insurance applications are subject to Insurance Company's underwriting and acceptance.
6. The Insurance Company is solely responsible for all approvals, coverage, compensations and account maintenance in connection with its insurance products.
7. Citibank (Hong Kong) Limited will not render you any legal, accounting or tax advice. You are advised to check with your own professional advisor for advice relevant to your circumstances.
8. You are reminded to carefully review the relevant product materials provided to you and seek independent advice if necessary.
9. For any policy service enquiries, please contact the relevant licensed bank staff or the Insurance Company.
From January 1, 2018, the Insurance Authority (IA) will start collecting a premium levy from policy holders of all new or in-force life insurance policies and general insurance policies. For further information, please visit www.ia.org.hk.
References

¹ Source: AIA’s Hong Kong and Overseas Education Expenditure Research 2014 by GfK Hong Kong, an independent market research company (data collected in June 2014).

² Source: AIA’s The 7th “AIA MPF Desired Retirement Tracker” Survey (data collected in August 2015).

³ Independent actuarial calculations were applied to each respondent to project the retirement reserves he/she would have accumulated at retirement based on his/her current saving habits and retirement reserves. The calculations were then compared with the data provided by each respondent regarding his/her desired monthly living expenditure and the number of years that the reserves were expected to cover after retirement. The above information gathered from external sources is made on a general basis and is for reference only. Please refer to the related data and information collection statement for details.

⁴ Source: AIA’s Survey of Wealth Management Attitudes 2015

⁵ Source: Ipsos Affluent Survey Asia 2016, Hong Kong statistics

⁶ Source: AIA Healthy Living Index Survey 2016

⁷ Source: AIA’s Survey of Wealth Management Attitudes 2014

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Life Insurance

Education Planning

Guaranteed Annual Income

Start by finding out how much you need

How much have you currently saved and within what time frame do you want to achieve your savings goal

How are you planning for your children's education

How much life insurance do you already have?

How much have you set aside for your retirement?

Tell us about yourself

Ammount needed for HK$ 24,000,000

Total Gap: HK$ 24,000,000

Guaranteed Annual Income

Key Features

Explore other Life Plans

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