Is Bancassurance the future for insurance companies?

bancassurance

In recent years, the market share of insurance tied agency was on the downtrend. Two rising sales channels are independent financial advisers and Bancassurance. Bancassurance is probably growing at the fastest pace. Bancassurance is the partnership between a bank and an insurance company whereby the insurance company uses the bank sales channel in order to sell insurance products, so that the insurance company reach its products to the bank's client base. Bancassurance is very lucrative for … [Read more...]

AIA Re-Launch Wealth Accumulator 2 – Guaranteed Interest 1.68%

aia-wealth-accumulator-2

AIA has re-launched AIA Wealth Accumulator 2, a non-participating Single Premium endowment plan that provides financial protection against death and guaranteed returns on capital at maturity. Key Highlights of The Plan Provides an effective yield of 1.68% per year Capital guaranteed at maturity Guaranteed Issuance without any medical underwriting Short policy term of 4 years It is interesting that AIA has launched this product in current environment where interest rate has been … [Read more...]

AIA Increase Platinum Legacy Crediting Rate

AIA_platinum-legacy_sg

With decreasing interest rates in the past few years, universal life products were forced to reduce their crediting interest rates. Since the recent Fed's hint of "tapering", risk of increasing interest rates spooked the bond market. Realistically speaking, rising interest rate is bad for most insurance products. your whole life policy, your endowment and your annuities all suffer due to strong sell off of the underlying bonds, at least in short term. However, AIA chooses to increase their … [Read more...]

AIA launched their first disability income protection plan

disability-income

AIA has launched Premier Disability Cover on 2 July 2012, their first disability income plan. AIA Premier Disability Cover is a disability income protection plan, which provides you with protection in the event of a disability due to illness or injury, resulting in your inability to work and earn an income. Comparing to its rivals, AIA has introduced some First-to-market features: First of all, AIA guarantees benefit payout regardless of any future changes to your income or payouts … [Read more...]

Enhancement in Claims Services for AIA Healthshield and Letter of Guarantee (LoG)

health-insurance

A Letter of Guarantee (LoG) is an assurance of payment offered by insurers to hospitals, on behalf of a patient, for the portion of the hospital bill covered by insurance. When you are hospitalised, if your hospital can obtain a letter of guarantee from your insurer, you can reduce the amount of your upfront payment to the hospital. With effect from July, all AIA policyholders under the Medisave-approved Integrated HealthShield plans can request for an AIA Letter of Guarantee from these … [Read more...]

AIA Healthshield Gold Max opens to Foreigners

jump-in-hospital-bills

Hospital bills in Singapore are constantly on the rise. Medisave Approved Integrated Insurance Plan is no longer a luxury but a necessary component of anyone's financial health. It is very affordable and covers high sum assured. However, if you are a foreigner working or living here, being a student, working expatriate or dependent of a Singaporean or PR, a large medical bill can create an overwhelming financial strain on you. Even if you are willing to purchase a medical insurance, the cost … [Read more...]

AIA to Transfer Insurance Business

American International Assurance Company, Limited (AIA) announced today plans to transfer its Singapore life and general insurance business, which has to-date been owned and operated by its Singapore branch to AIA Singapore Private Limited (AIA Singapore), a wholly-owned, Singapore-incorporated subsidiary of AIA Group. AIA has lodged the formal Scheme of Transfer with the Monetary Authority of Singapore (MAS). The Scheme of Transfer is also subject to confirmation by the High Court of … [Read more...]

S&P Raised AIA Group Rating TO AA-

HONG KONG, 23 NOVEMBER 2010 – AIA Group Limited, (“AIA”; stock code: 1299), the largest independent listed pan-Asian life insurance group in the world, is pleased to confirm that Standard & Poor’s Rating Services (“S&P”) has raised its ratings on two of AIA operating entities -- American International Assurance Company, Limited (“AIA Ltd”) and its wholly owned subsidiary American International Assurance Company (Bermuda) Limited (“AIAB”) -- to ‘AA-’ from ‘A+’, outlook stable. … [Read more...]

AIA IPO will start trading in Hong Kong today

AIA Group Ltd. will debut on the Hong Kong stock exchange today after climbing in unofficial over-the-counter trading following the biggest initial public offering in the city’s history. Shares of Hong Kong-based AIA, the insurer sold by American International Group Inc. in a $17.8 billion IPO, last traded at HK$21.50 each yesterday in gray market transactions brokered by BTIG LLC, said Christian Kielland, a managing director at the firm’s Hong Kong office. That’s 9.2 percent higher than the … [Read more...]

AIA A$ Wealth Accumulator – Up to 4.7% Interest per year

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Once Again, AIA is offering the highest Guranteed interest up to 4.7% per year. If you are interested in the product, you may contact me for professional advice. Note: This product is not suitable for those who are averse to foreign currency exchange rate risk or who are unable to understand the implications of currency risk. AIA A$ Wealth Accumulator is a: non-participating Endowment plan 4.5 year term plan single premium plan available in AUD only The AIA A$ Wealth Accumulator … [Read more...]