Investment Linked Plan

AIA Pro Lifetime Protector (II): Sculpting Your Future with Flexible Protection and Investment

Have you ever wished for an insurance plan that could adapt to your changing needs throughout life ? One that offers comprehensive protection while also helping you grow your wealth? If so, AIA Pro Lifetime Protector (II) might be the solution you've been searching for. Let's dive into the details of this unique plan and see how it can help you mould your financial future.

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What is AIA Pro Lifetime Protector (II)?

AIA Pro Lifetime Protector (II) is a versatile protection and wealth accumulation plan that you can customize to fit your specific needs. It's designed to safeguard you and your loved ones against death, disability, and critical illnesses, while also offering investment opportunities to help grow your wealth. Think of it as a financial Swiss Army knife - a multi-tool that can adapt to various situations in your life journey.

Key Features That Make This Plan Stand Out

Comprehensive Protection

Life coverage until age 100 , optional riders for disability and critical illness protection, coverage for up to 150 multi-stage critical illnesses (with appropriate riders)

Flexible Investment Options

Choose from professionally managed portfolios or select your own funds. 100% of premiums go into investments from the 5th year , increasing to 102% from the 10th year

Guaranteed Protection

Your policy won't lapse in the first 10 years, regardless of investment performance (conditions apply)

Increase Coverage at Life Milestones

Option to increase basic coverage by up to S$200,000 during key life events without medical underwriting

Access to Cash

Withdraw funds after the 2nd year without charges, if needed

AIA Vitality Integration

Enjoy additional coverage and premium discounts by improving your health

Why compare AIA Pro Lifetime Protector (II) with other Investment Linked Plan options through Whatins?

Traditional Approach

  • Limited to one company's fund options
  • Only hear about advisor's preferred funds
  • Single perspective on investment strategy

Whatins Advantage

  • Compare fund options across multiple insurers
  • Get different views on investment strategies
  • See how different advisors approach fund selection
  • Understand varied fee structures

In summary: If you want more control and multiple suggestions, then Whatins is the way to go.

Let's Break Down the Coverage

Basic Plan:

  • Provides death coverage until age 100
  • Offers investment opportunities to grow your wealth

Optional Riders:

Total Disability Accelerator (II) rider

Pays up to 100% of basic coverage if you become totally and permanently disabled (up to age 70)

Total Critical Accelerator (II) rider

Covers 73 major critical illnesses up to age 100

Lifetime Critical Cover rider

Protects against 150 multi-stage critical illnesses up to age 100, includes a Power Reset feature allowing multiple claims up to 300% of your coverage amount, covers 15 special conditions up to age 85

Relapse Benefit rider

Add-on to Lifetime Critical Cover rider, protects against relapse of 5 specific critical illnesses

Child Critical Cover rider

Protects your child against 25 child medical conditions until age 21, option to convert to lifelong coverage in adulthood

Premium Waiver Riders

Early Critical Protector Waiver of Premium (II) rider and Critical Protector Waiver of Premium (II) rider available

Child Protection Riders

Early Critical Protector Payor Benefit (II) rider and Payor Benefit Comprehensive Special (II) rider available

Investment Options

AIA Pro Lifetime Protector (II) offers two main approaches to investing:

Guided Portfolios

Professionally managed by AIA with insights from Mercer, a leading global investment consultant. Three options to suit different risk appetites: Pro Adventurous, Pro Balanced, and Pro Cautious. Annually reviewed and adjusted based on market outlook.

Self-Selected Funds

For more experienced investors who prefer to choose their own funds

How Much Does It Cost?

The cost of AIA Pro Lifetime Protector (II) varies depending on factors like your age, health, chosen coverage amount, and selected riders. However, the plan can start from as low as S$7 per day , based on a 30-year-old male non-smoker with specific coverage options.

Real-Life Scenario

Throughout this time, Chris's AIA Vitality status could provide him with additional coverage (PowerUp Dollar) and premium discounts on eligible riders.

At age 40

Chris is diagnosed with colorectal carcinoma in-situ. He receives S$100,000 from the Lifetime Critical Cover rider. His coverage is restored to 100% after 12 months.

At age 45

Chris suffers a heart attack. He receives another S$100,000 from the Lifetime Critical Cover rider. Again, his coverage is restored after 12 months.

At age 50

Chris experiences a recurrent heart attack. Thanks to the Relapse Benefit rider, he receives another S$100,000. The Relapse Benefit rider then terminates.

At age 65 and beyond

Chris continues to enjoy protection against death, disability (up to age 70), and critical illnesses until age 100, while potentially benefiting from his investments.

Pros and Cons

Pros

  • Flexible plan that combines protection and investment

  • Comprehensive coverage options for critical illnesses and disability

  • Professional investment guidance available

  • Integration with AIA Vitality for health and financial benefits

  • Option to increase coverage at life milestones without medical underwriting

Cons

  • Complex plan that may be difficult to fully understand

  • Investment returns are not guaranteed

  • Premiums may be higher compared to pure term insurance plans

Frequently Asked Questions

Can I change my investment choices later?

Yes, you have the flexibility to switch between funds or adjust your investment approach.

What happens if I can't pay my premiums?

The policy offers various options like premium holiday or partial withdrawals, but these may affect your coverage and investment value.

Is the investment portion of the premium guaranteed?

No, investment returns are not guaranteed and depend on the performance of your chosen funds.

Can I increase my coverage amount later?

Yes, you have the option to increase coverage at certain life milestones without medical underwriting.

What's not covered by this plan?

Like most insurance policies, there are exclusions. For example, pre-existing conditions may not be covered. Always refer to the policy contract for full details.

Conclusion

AIA Pro Lifetime Protector (II) offers a unique blend of protection and investment opportunities , allowing you to sculpt a financial plan that evolves with your needs. Its flexibility, comprehensive coverage options, and integration with AIA Vitality make it an attractive choice for those looking for a versatile financial tool.

However, it's important to remember that this is a complex product. While it offers many benefits, it also requires careful consideration and understanding. The investment portion carries risks, and the overall cost may be higher than simpler insurance products.

Before deciding, it's crucial to assess your long-term financial goals, protection needs, and risk tolerance. Consider how this plan fits into your overall financial strategy and whether the combination of protection and investment aligns with your objectives.

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By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best plan for your financial future. Don't leave your protection and wealth accumulation to chance – get the expert advice you deserve today.

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