Aviva Newsroom - 1 April 2014

Aviva Hong Kong launches ‘IncomePro Insurance Plan’,
unique insurance product offers two payout options of death benefit and combines
long-term savings, life cover and protection against 3 major illnesses1 in one plan

Product information:

Aviva Hong Kong, the wholly-owned subsidiary of the UK’s largest2 insurer Aviva plc, today announced the introduction of ‘IncomePro Insurance Plan’ (‘IncomePro’), characterized with long-term savings, life protection and 3 major illnesses protection under one single insurance plan, which provides all-round protection to you and your family.

To provide stable stream of annual income, IncomePro pays policyholders annual guaranteed cash coupons3,4 on each policy anniversary starting from the first anniversary until policy maturity. In addition to the annual guaranteed cash coupons, non-guaranteed annual dividends3,4,5 are also offered for potential growth of wealth.  Policyholders can either withdraw the annual guaranteed cash coupons and non-guaranteed annual dividends annually or leave them with Aviva for interest accumulation6 to meet with the different life goals.

With only 5-year fixed premium payment, IncomePro’s policyholders can enjoy up to 30 years of life protection. Starting from the 3rd policy year, if the life assured passes away, the assigned beneficiary will receive either double annual guaranteed cash coupons plus non-guaranteed annual dividends in the remaining policy years, or a lump sum Guaranteed Death Benefit7 immediately. Therefore, the beneficiary will be well protected and this payout flexibility will help the beneficiary’s different needs.

IncomePro is also one of the few saving plans on the market that provide additional protection against 3 common major illnesses. Starting from the 3rd policy year, if the life assured is diagnosed with any of the 3 major illnesses (i.e. stroke, heart attack or cancer), an additional lump sum equivalent to 10 times the annual guaranteed cash coupon will be paid on top of the annual guaranteed cash coupons, to lessen customer’s financial burden.

Application of IncomePro is simple, as medical examination is waived for simplified underwriting8.

For any enquiries about ‘IncomePro Insurance Plan’, please contact Aviva Hong Kong’s Customer Service Hotline on (852) 3550-9600.

  1. For details of 3 major illnesses, please refer to the terms and conditions of the policy, which will be made available by Aviva.
  2. Source: 2012 Aviva plc annual report.
  3. Any indebtedness owed to Aviva will be deducted from any payment made by us.
  4. Provided that the policy is still in force and all premiums are paid in full when due.
  5. The annual dividends are based on Aviva’s current dividend scales and are not guaranteed. The scale may be changed from time to time by Aviva.
  6. The accumulation interest rate is not guaranteed and may be changed from time to time by Aviva.
  7. Please refer to the benefit illustration for the amount of Guaranteed Death Benefit.
  8. Full underwriting is required for the life assured if the applied annual guaranteed cash coupon exceeds the maximum simplified underwriting limit.

* This material is an overview of IncomePro only and does in no way affect the terms and conditions which may be obtained from Aviva on request. For all details, please refer to the terms and conditions of the plan.

Other details of IncomePro Insurance Plan

Contract currency HKD/USD
Issue age (Age next birthday, “ANB”) Min : 1 month / Max : age 65
Min. annual guaranteed cash coupon (per policy) HKD2,500 / USD300
Max. simplified underwriting limit (per life) Age (ANB) Annual Guaranteed Cash Coupon
1 – 17 HKD36,000 / USD4,500
18 – 50 HKD42,000 / USD5,250
51 – 60 HKD20,000 / USD2,500
61 – 65 HKD6,500 / USD820

About Aviva plc

Aviva provides 34 million customers2 with insurance, savings and investment products. We are the UK’s largest2 insurer and one of Europe’s leading providers of life and general insurance.

We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.

2.    Source: 2012 Aviva plc annual report.