AIA has recently launch a new Investment-Linked Policy, called Asset Evolution, with a concept similar to unit trust. There is neither minimal holding period nor insurance coverage for this plan.

The premium charge is 4 percent with mininum Initial investment of $5,000 with unlimited free switches

There are about 150 ILP funds available for selection currently.

My two cents:

AIA is trying very hard to re-gain market share after AIG saga and they have successfully re-branded themselves and also opened up their products to Independent Financial Advisers like us. The management mindset has changed and now they are more innovative and willing to change.

However, as their core business is still life insurance and the product is only distributed via their agency force. the sales team may lack of experience in the investment  field. Also, as the product offers one-time commission,  the advisers may have less motivation to assist their client’s for ongoing monitoring and updates.

In fact, similar product was available for long. for example,

• Friends Provident – Wealth Builder and Wealth Manager
• Zurich – Vista

I will write more about these two in the future. Meanwhile, you can contact me if you need more information about the products.