AIA Platinum Wealth Elite:Powered by world-class institutional investors

| 12 Jul 2019

With the launch of AIA Platinum Wealth Elite in Singapore, AIA's customers will for the first time have direct access to AIA Funds Platform, which will be managed and overseen by AIA Investments and powered by world-class institutional investors including AIA, Baillie Gifford, Wellington Management, and BlackRock.

According to AIA Affluence Barometer 2019, more than 3 in 5 (63%) of the affluent in Singapore are not confident about their ability to create wealth for the future, and there is a clear wealth protection gap amongst today’s affluent with approximately 1 in 5 not holding any life protection insurance policies to safeguard their wealth and well-being should any mishaps occur. Affluent individual is defined as having an annual personal income of above S$120,000 or annual household income of above S$150,000.

To address the crucial gap amongst affluent individuals, AIA Platinum Wealth Elite was unveiled by AIA Singapore to meet both their wealth creation goals and protection needs based on their respective investment time horizon.

Mr Ng Keng Hooi, Group Chief Executive and President, AIA said, “AIA chose Singapore as the first market for the launch of our innovative savings proposition to help address the rapidly growing need for both trusted advice and a distinctive approach to investment management. AIA has taken a radical approach by giving our customers access to specially created and exclusively managed investment funds by some of the world’s finest institutional asset managers combined with AIA’s protection solutions, high-quality advice and service.”

Photo: Mr Ng Keng Hooi, Group Chief Executive and President, AIA

Dr Mark Konyn, Group Chief Investment Officer, AIA said, “A market-first, AIA Platinum Wealth Elite will provide our customers with access to institutional investors that we have worked very closely with for many years, continuously bringing sustainable investment returns for AIA Group. Carefully selected institutional managers combined with AIA’s oversight and stewardship is exactly how we manage our own balance sheet assets and is aimed at producing long term investment outcomes. This approach is now available to policyholders directly for the first time.”

Photo: Dr Mark Konyn, Group Chief Investment Officer, AIA

Standout features of AIA Platinum Wealth Elite include:

Key challenge(s) / desire(s)

How it is addressed by AIA Platinum Wealth Elite

• Today’s affluent are most concerned that their investments will not perform well in today’s economic climate.

 

• 74% cited external factors like growing uncertainties due to global market volatility and weak economic growth impacting their confidence in ability to create wealth.

Professional stewardship – addressing your wealth creation needs with sustainable, long term investment outcomes

Access to institutional investors – such as Baillie Gifford, Wellington Management, and BlackRock – powered by AIA’s investment management capabilities.

Multi-layer value creation chain as we focus on investing for the long-term, while remaining nimble to make opportunistic investments focused on value and quality.

Interactive planner through iProfiler – providing fast and accurate calculations, risk profiling and fund recommendations based on your personal wealth accumulations goals.

• While majority (81%) of those with children plan to pass on their wealth to the next generation, only 12% have put sufficient plans in place.

 

Boosted Protection for legacy planning

Access to high coverage for whole of life, with competitive premiums.

Low insurance risk charge with preferred rates.

“No lapse” privilege (NLP), keeps your policy in force for the first 15 years or during the premium payment term (whichever is later), regardless of the policy value.

• In seeking wealth creation insurance product, the affluent prioritises:

Stability – ability to plan for regular income payout,

Flexibility – access to liquidity, and

Coverage – lifelong coverage and high coverage amount.

Liquidity for wealth distribution and retirement

The Income Withdrawal Privilege allows the policyholder to withdraw up to 5% of the policy value (at the start of each policy year), without affecting the coverage amount. The Income

Withdrawal Privilege starts from the 11th policy year onwards, or after the premium payment term ends, whichever is later.


Customised premium contribution with short and flexible premium payment options and Personalised target age

Option of single premium or regular premium for 5 years, with flexibility to extend up to 20 years at purchase.

 

Ms Ho Lee Yen, Chief Customer and Marketing Officer, AIA Singapore said, “With AIA Platinum Wealth Elite, these are institutional fund managers that are not readily available to individual customers. Beyond the investment capability, customers will also benefit from high protection. Combing these two benefits, we believe that we’ve got a very strong wealth management proposition for the affluent and high net worth market.”

Photo: Ms Ho Lee Yen, Chief Customer and Marketing Officer, AIA Singapore

Mr Patrick Teow, CEO, AIA Singapore said, “With the launch of AIA Platinum Wealth Elite, we are confident that we can help customers achieve their wealth creation goals for the long term while also addressing their wealth protection needs.”

Photo: Mr Patrick Teow, CEO, AIA Singapore

For more information, visit AIA.com.sg

Download the AIA Affluence Barometer 2019 infographic here. 


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