MANILA, Philippines, October 21, 2024 – AIA Philippines, formerly Philam Life, now offers Filipinos a way to financially prepare for both their mid-term and long-term goals. AIA Ascend. The leading life insurance company offers this innovative solution to provide growth and protection by helping Filipinos build toward both mid- and long-term financial goals with a single solution.

​“Filipino millennials, who, not too long ago, were talking about the challenges of adulting, have now actually adulted and are preparing to level up to the next stages of their lives,” shares Melissa Henson, Chief Marketing Officer, AIA Philippines. “When we looked into what concerns Filipino consumers today, we found that many of them, especially millennials, value being able to thrive and live to the fullest in the present, while building up their savings for the future. Many of them are concerned that they will have to make trade-offs between today and tomorrow, but we at AIA believe that it should not have to be an either-or situation. That’s why we developed AIA Ascend.”

AIA Ascend is tailor-fit for those who want to invest in the future but also pursue their dream life today. They can fund their children’s education and look forward to their own second degree upon retirement. They can fund “me time” and travel the world in the near term, while saving up for their dream retirement home. They can make payments toward their current home, and have funds down the line to fund their child’s wedding or further education. The new plan supports medium-term goals through annual cash payouts, and longer-term goals through a maturity benefit at age 65. AIA Ascend also offers potential bonus dividends, and life insurance coverage, should the policyholder pass before the plan matures.

Empowering Today While Safeguarding Tomorrow

AIA Ascend is designed with the flexibility to stay in lockstep with those who want to ascend to the life they want. Customers can fulfill medium-term goals and needs, or fund longer-term goals so they can enjoy their present and secure their tomorrow.

Specifically, the new AIA Ascend plan provides a cash payout equivalent to 5% of their policy’s face amount, which starts at the end of the fifth year for the five-years-to-pay option, and the end of the sixth year for the 10-years-to-pay option. These payouts continue every year until age 65. 

In addition, AIA Ascend comes with a guaranteed maturity benefit where plan owners receive a lump sum cash benefit equal to 200% of the face amount at age 65. With the 5-pay or 10-pay variants to choose from, plus AIA Ascend’s flexible payout features, individuals get to enjoy a sense of customization to use their yearly payouts for things like travel, home upgrades, passion projects, college or post-graduate funding for their kids, investment purchases or future-proofing their dream lifestyle through a retirement fund. 

Customers may also receive additional cash benefits through potential bonus dividends. While this feature depends on the chosen policy and is not guaranteed, it can serve as another avenue to save more.

A Secure Future for Filipinos and Their Loved Ones

Being financially secure with AIA Ascend means protection and preparedness in the face of unexpected events. Should the policyholder pass away before the policy matures, its life insurance coverage grants the policyholder’s beneficiaries a death benefit equivalent to 200% of the face amount or the total premiums already paid minus any cash payouts already released (whichever is higher at the time of claim).

If needed, AIA Ascend plans can be crafted with optional protection riders. These include Total and Permanent Disability (TPD), Personal Accident (PA), Payor’s Term Benefit (PTB), Payor’s Benefit on Death and Disability (PBDD), and Enhanced Waiver of Premium (EWP) riders.

With AIA Ascend, AIA Philippines empowers today’s generation of customers to elevate their dreams with the best of both worlds: a quality life today and a financially secure tomorrow.

Click here to learn more about AIA Ascend, or visit the AIA Philippines website or Facebook page for more information.

*Brief product description only. Policy terms and conditions will apply. Dividends are not guaranteed.

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About AIA Philippines

AIA Philippines (AIA Philippines Life and General Insurance Company, Inc.) is one of the country’s largest life insurance companies. Originally established on 21 June 1947 as Philam Life (The Philippine American Life and General Insurance Company), AIA Philippines has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises. Today, AIA Philippines is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group, which operates in 18 markets across the Asia-Pacific region.

AIA Philippines has PHP266.75 billion in total assets¹ and PHP72.54 billion in net worth¹ as of 31 December 2023 while serving nearly 1,200,000 individual policyholders and almost 1,000,000 insured group members. 

Based on the Insurance Commission results as of 31 December 2023, the combined total premium income of AIA Philippines and BPI AIA was at PHP27.93 billion.

AIA Philippines understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. Its subsidiaries include BPI AIA Life Assurance Corporation (formerly BPI-Philam Life Assurance Corporation), its bancassurance arm; AIA Investment Management and Trust Corporation Philippines, its trust company managing its local funds; and MediCard Philippines, its wholly-owned health maintenance organization (HMO) company.

About AIA 

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR², Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR³, and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023. 

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.

For more information:

Michelle Velete
Communications Lead
AIA Philippines
michelleelaine.velete@aia.com

Andrea Suarez
Media Relations Manager
Ogilvy Philippines
andrea.suarez@ogilvy.com

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² Hong Kong SAR refers to the Hong Kong Special Administrative Region.
³ Macau SAR refers to the Macau Special Administrative Region.