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Anonymous

24 Aug 2020

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AIA Choice Life (Paying more than we were required)?

Bought a AIA Choice Life 15 many years ago with the promise of paying 400+usd per year every year, and the promise to cap premium payments by 15 years,with the bonus of 300+usd coupons to be paid out every year.
There was some issue faced by AIA in 2012~2014 regarding this, does anyone know what are the details and if AIA is planning to pay out some sort of compensation for the policy holders?

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Duane Cheng

24 Aug 2020

Financial Consultant at Prudential Assurance Company Singapore

Hi there,

You will need to go to AIA to seek clarity on the situation, as your agent would not be able to help you either. This policy had very lofty illustrated returns, and unfortunately are unable to meet the said returns of the policy.

Do understand that the returns were non-guaranteed, and they are not obligated to give you compensation for not meeting the returns. You might have missed the window to appeal, as the offer was given in 2014. You might want to read this source regarding what are some of the expecations you might have for yourself.

Hope i was able to shed some insight!

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