facebookIs AIA Pro Achiever plan a combination of life insurance policy and investment policy? - Seedly

Anonymous

17 May 2020

Insurance

Is AIA Pro Achiever plan a combination of life insurance policy and investment policy?

Currently the age of 23, trying to know more about this plan.

Discussion (7)

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Perry Lau Wei Han

17 May 2020

Financial Services Associate Director at AIA SINGAPORE PTE LTD

Hi, to add on from what the others have shared, as the minimum premium to start for AIA Pro Achiever is S$200 / Month, my personal opinion is to set aside money for insurance coverage first, and if you have at least S$200 / Month of comfortable budget left, you may consider to get the AIA Pro Achiever.

Elijah Lee

14 May 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

It's an ILP. If you are intending to invest, I'd suggest that you go with a normal investment platform such as POEMS. Don't be constrained to the limitations of the policy (and there are quite a number, such as sales charges, lock in period, etc). Invest on your own terms.

About the only benefit I can think of is, if the policy owner passes away in a crisis, the death benefit will be 105% (something like that) of the premiums paid, even if the market has crashed by half and the portfolio is deeply in the red. However, that is hardly a reason to do an ILP. You would be better off with a term plan to cover that instead.

What else do you want to know about the plan?

Sharon

14 May 2020

Life Alchemist at School of Hard Knocks

I have the AIA Achiever which I bought 12 years ago. It is also an ILP.

If you can hold this long ...

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