AIA LoanCare is designed to protect your loan customers from financial hardship by covering their outstanding loan balances in the event of death or permanent disability. At the same time, it ensures their families are not burdened with unpaid debts or the loss of collateral assets—providing peace of mind during life’s most difficult moments.
The plan offers the following attractive features:
Helps you maintain a healthy loan portfolio while protecting your loan customers and/or their families from the unpaid debts in the event of death or total and permanent disability.
Ensures your loan customers receive the coverage that aligns with their financial needs and repayment plans – whether it’s a reducing or level sum assured plan.
Provides an additional lumpsum benefit at the selection of Pro Package in the event of accidental death or disability, which is a crucial financial support for your customers during life’s most difficult moment.
No health check required for coverage up to USD 100,000 for loan customers aged 50 or below, making enrollment fast, easy, and accessible.
Benefit Type
(A) Death Benefit
(B) Accelerated Total and Permanent Disability
(C) Additional Benefit for Accidental Death and Disability
(D) Condolence Benefit for Accidental Death and Disability
Basic Package
(A) Death Benefit
100% of Basic Sum Assured
(B) Accelerated Total and Permanent Disability
100% of Basic Sum Assured
(C) Additional Benefit for Accidental Death and Disability
Not applicable
(D) Condolence Benefit for Accidental Death and Disability
Not applicable
Pro Package
(A) Death Benefit
100% of Basic Sum Assured
(B) Accelerated Total and Permanent Disability
100% of Basic Sum Assured
(C) Additional Benefit for Accidental Death and Disability
100% of Basic Sum Assured
(D) Condolence Benefit for Accidental Death and Disability
30% of Initial Sum Assured
You can choose whether you or your wife to be the Insured Member of AIA LoanCare using your loan number to apply for one insurance plan under this AIA LoanCare.
No. The amount of insurance will equals to your outstanding loan amount, but you can choose either level sum assured or reducing sum assured based on your financial needs.
No. The coverage term will equals to your loan term, but subject to the expiry date when you attained age of 70 years old.
No. You may buy AIA Loan Repayment Insurance which is a loan protection plan for individuals like you.
Yes. You may request at any time to your lender to surrender your insurance plan and you will get the Surrender Value (if any) following your schedule of benefits.
No. If you ceased to be a debtor of the policy owner before the expiry of your insurance, you would receive a surrender value according to your schedule of the benefits and thereafter your insurance would be terminated.
No. You may buy new insurance plan for your new loan and terminate this insurance plan and receive the Surrender Value (if any) following your schedule of benefits.
No. The claimant can be the Insured Member, Secondary Beneficiary, or any closest relatives of the Insured Member, but they can request assistance from the lender or AIA Client Care via 086 999 242.
