Kuala Lumpur, 10 December 2013 – AIA Bhd. unveiled a new education plan that combines savings as well as protection and investment elements to cater for the needs of discerning parents who want to better plan for their children’s education needs and desire flexibility.
A-EduAchieve is unique as it comes with a University Startup Booster, a bonus payment of up to 15 times the monthly regular premium which will be credited into the plan automatically when the child reaches age 18 to increase the education fund value.
Furthermore, A-EduAchieve gives parents the flexibility to save or withdraw the fund value as and when they need to pay for their child’s education fees.
The investment element, where parents are given the choice of 17 AIA funds to invest in, will help to grow the education savings portion which will be paid when the child reaches age 25. Parents also have the option of switching their investment funds to suit their risk appetite at any point.
Thomas Wong, Chief Marketing Officer of AIA Bhd. said: “Every child is unique and requires nurturing in different ways but the one common desire among parents is to provide the best education for their children so they get that vital head start in life. A-EduAchieve was designed to fulfil that desire by providing parents with a flexible savings and protection opportunity so they are more in control of their children’s education planning.”
A-EduAchieve also comes with an Anniversary Bonus which allows the child to enjoy increasing protection. In addition, the plan offers parents peace of mind in the form of a 5-year guaranteed coverage where the policy will continue to be active in the first five years even if the fund account value is insufficient to cover the policy charges. Additionally, should the parent, lose her ability to continue to pay for the plan due to death or disability, future premiums will be waived to ensure that the child’s education dreams and financing needs are not impacted.
Another interesting feature of A-EduAchieve is the option for the child to convert the plan to another one of their choice upon policy maturity so that the child can continue to enjoy the same level of coverage under the new plan without further underwriting. The plan also qualifies parents for a personal tax relief of up to RM 3,000 per annum for medical and educational insurance.
AIA Bhd. has collaborated with nine child enrichment centres and retailers namely Childhood Basic Marketing, DaVinci Creative Kids, Julia Gabriel Centre, KinderMusik, KizSports & Gym, Megakidz, Poney, The Cooking House and Yamaha Music to offer discounts and privileges to A-EduAchieve policyholders when they enroll their children at any of these centres or make purchases at the participating retailers.
–END–
