AIA - Simply Love Encore 5
Simply Love Encore 5 is a participating whole life insurance plan that covers the entire lifespan of the insured, who is the person protected under the policy. This plan provides you with guaranteed cash value, non-guaranteed Annual Dividends and non-guaranteed Terminal Dividend, all of which form your policy values. It can help you achieve guaranteed and potential gains as well as long-term wealth accumulation.
Flexible withdrawal, you can withdraw your policy values in one go to realise your dreams or make withdrawals flexibly according to your changing needs in the future.
If the insured passes away and no contingent insured has become the new insured, we will pay the death benefit to the person whom you select in your policy as beneficiary. Apart from a lump sum payment, the death benefit and accidental death benefit can alternatively be paid to your beneficiary in regular instalments by applying the Death Benefit Settlement Option during the lifetime of the insured, according to the specific benefit amounts to be paid at regular intervals chosen by you, provided that the total annual payment is equal to at least 2% of the sum of the death benefit and accidental death benefit.
Change of Insured Option and Contingent Insured Option to pass your legacy across future generations unlimitedly. During the lifetime of the current insured and after the end of the 1st policy year, the Change of Insured Option allows you to change the insured to another loved one, in whom you and the beneficiary have insurable interest. That way, the value of your policy can be inherited by later generations, helping you pass on your wealth with extra flexibility. You may change the insured under the Change of Insured Option and / or the Contingent Insured Option as many times as you wish, subject to Insurer approval.
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