AIA Singapore redefining savings and investing with the market's first innovative trademarked concept called Savest™ by launching the AIA Wealth Pro Advantage

29 March 2016 dot 6-min read
AIA Wealth Pro Advantage is the market's first innovative Savest™ plan conceptualised to bring consumers the best of both worlds when it comes to growing their savings and enhancing their wealth 
Singapore, 29 March 2016 – AIA Singapore today launched AIA Wealth Pro Advantage, the market's first innovative 2-in-1 Savest™ plan which is a brand new way for individuals to start managing their wealth by saving and investing at the same time. Savest™ is a fresh concept trademarked by AIA Singapore, which adopts a balanced financial planning approach by offering the stability of long-term savings with the growth potential of investments to allow individuals to reap the best of both worlds.
Ms Ho Lee Yen, Chief Marketing Officer of AIA Singapore said, "As AIA Singapore celebrates our 85th birthday this year, customers continue to be at the heart of everything we do. Through deep customer insights from our recent survey, we found that customers want a wealth management solution that meets these 4 needs – A plan that allows them to enjoy higher returns, provides some form of guaranteed savings, receive professional investment guidance and provides the flexibility to withdraw cash should they need it."
"AIA Singapore developed the Savest™ concept based on the understanding that consumers today are seeking the best of both worlds - an effective wealth management solution that allows customers to save and invest to build their wealth for the long term. We are excited to launch the AIA Wealth Pro Advantage plan to address their multiple concerns," she added.
How the AIA Wealth Pro Advantage plan works
The market's first innovative 2-in-1 Savest™ plan - the AIA Wealth Pro Advantage (WPA) which consists of the WPA Growth (Savings portion) and the WPA Enhancer (Investing portion): 
  • 50% of the premium goes into the saving portion that gives Savestors™ stable growth through annual declared bonuses¹. These bonuses then become guaranteed thereby providing them with the security of a financial safety net.
  • The other 50% of the premium goes into the investing portion that feeds into a selection of well diversified funds, through the Pro Optimiser, which is an exclusive portfolio created in partnership with leading global investment consultant, Mercer Investment Consulting². This simplifies investment decisions on where and what to invest in and is a key benefit for Savestors™. The professional guidance helps Savestors™ to avoid the pitfalls of emotional investing and timing the markets, making their money work harder over time.
  • Savestors™ are also given the flexibility to construct their own portfolio from AIA Singapore's professionally managed suite of ILP funds. Additionally, updates will be provided based on Mercer's research and market outlook for individuals to rebalance their Pro Optimiser portfolio annually, ensuring that their investments remain on track.  
[1] Bonuses are declared from year 3.
[2] Mercer is a leading global investment consultant with over 40 years of proven expertise, providing investment advice and recommendations in portfolio solution for financial institutions. Mercer provides investment advice and tools to 2,623 clients in over 43 countries, as of December 2014.
Other key features of AIA Wealth Pro Advantage
  • Savestors™ can choose from three premium payment terms – 5, 15 or 25 years – depending on their preferred length of payment.
  • Savestors™ can have the flexibility to make withdrawals at any time from the 3rd policy year onward, to meet their evolving financial needs.
  • Savestors™ can have the flexibility in managing their portfolio with fund switching and fund rebalancing features that are offered at no additional charge.
  • Optional add-ons or riders, allow Savestors™ to tailor their plan to best suit their needs and to ensure that their sound financial planning will not be disrupted in unforeseen circumstances. They are:
    • Critical Protector Waiver of Premium – All outstanding premiums are waived if the Savestor™ becomes critically ill.
    • Payor Benefit – Payments are taken over by AIA Singapore to ensure that a Savestor's™ child’s future is not compromised should the Savestor™ become critically ill, disabled or passes on.
Consumer insights which inspired the concept of Savesting and the introduction of AIA Wealth Pro Advantage
When it comes to planning for the future, most individuals often end up taking the conventional savings route which may be safer but provides insufficient potential growth returns that can be achieved with a well-managed investment.
On average, Singaporeans aged 25 – 45 years old, allocate 37% of their monthly income on savings, and only 25% on investments, according to findings of the 'AIA  – Your  Wealth  Matters: Uncovering Singaporeans' financial challenges and priorities' study conducted earlier this year.
In addition, the study found that the key factors deterring Singaporeans from investing are that there is too much risk involved (48%), investing is too complicated to understand (33%), and that they simply do not have time to review and rebalance their portfolio regularly (27%).
They also acknowledged that they would be motivated to invest if they had some form of guaranteed returns (62%), ease of investment choices (46%) and are given assurance that they would not lose their investment capital (45%). 
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About the AIA Group
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and a representative office in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$168 billion as of 30 November 2015.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").
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