HONG KONG, /PRNewswire/ — AIA Hong Kong & Macau announces the launch of the ProsperLife Insurance Plan, a participating whole life insurance plan designed to support customers and their families’ life protection needs through every stage of life, from starting a family and welcoming a new baby, to buying a home and preparing for retirement. With extensive lifelong protection, a flexible Death Benefit Settlement Option, and Hong Kong’s first-in-market[1] Beneficiary Flexi Option,[2] the ProsperLife Insurance Plan empowers customers and their loved ones to stay financially resilient amid life’s uncertainties.
Research conducted by the Insurance Authority shows that Hong Kong’s average mortality protection gap stands at HKD 1.9 million per working adult,[3] suggesting that many households may face financial pressure if the unexpected occurs. The ProsperLife Insurance Plan provides a high level of protection, further strengthened by the Accidental Death Benefit (ProsperLife) Rider, which additionally offers up to 200% of the basic plan’s sum assured if death results from a covered accident on or before the earlier of the end of the 15th policy year and the insured reaching age 75.[4] This extra layer of protection ensures loved ones receive meaningful financial support when it matters most.
Premiums can be as low as HKD 60 per day for a plan with an HKD 1.9 million sum assured.[5] To address customers’ evolving needs, the ProsperLife Insurance Plan can be complemented with add-on plans covering accident, medical, critical illness, and disability protection, offering added peace of mind when families face unexpected life challenges.
Additionally, the ProsperLife Insurance Plan[6] is an eligible life insurance plan under the Policy Reverse Mortgage Programme (PRMP)[7] of The Hong Kong Mortgage Corporation Limited (HKMC), allowing customers to enjoy a steady stream of monthly income and better prepare for retirement.
Ms Alice Liang, Chief Proposition & Healthcare Officer of AIA Hong Kong & Macau, said: “At AIA, our purpose is to help people live Healthier, Longer, Better Lives. As a leading and trusted insurer in Asia, we are committed to delivering products that provide meaningful and sufficient protection for customers across different life stages. Protection goes beyond finances. It is an expression of love, care and responsibility. With suitable cover in place, customers and their loved ones can enjoy greater peace of mind.”
Ms Liang added: “Many families may encounter financial pressure when the unexpected happens. The ProsperLife Insurance Plan provides lifelong protection with extensive coverage and flexible settlement arrangements, ensuring loved ones are supported in a way that best meets their needs. By combining lifelong coverage with thoughtful flexibility, the ProsperLife Insurance Plan empowers customers to plan with clarity and confidence throughout life’s different stages.”
Tailored Support Through Flexible Settlement Options[8]
To help families manage financial needs during times of loss, the ProsperLife Insurance Plan offers flexible arrangements under the Death Benefit Settlement Option[8]. Customers can personalise how their beneficiaries receive the death benefit and accidental death benefit (if applicable), including
- the payment amount
- the frequency (monthly, quarterly, semi‑annual or annual), and
- the timing of the first or final instalment
Customers who select the Death Benefit Settlement Option[8] may also choose Hong Kong’s first-in-market[1] Beneficiary Flexi Option[2],[8]. Under this option, beneficiaries may designate their own settlement option if reaching a designated age selected by the policyholder, or upon being diagnosed with a specified illness, including cancer, stroke, heart attack, terminal illness or kidney failure (“Specified Illness under Beneficiary Flexi Option[8]“). This ensures financial support is accessed precisely when it is most needed.
Source: AIA Hong Kong and Macau
