Are you looking for a smart and flexible investment plan that can help you achieve your financial goals? Do you want to start investing with 100% of your premiums from day one, and enjoy regular bonuses and exclusive access to institutional funds? If you answered yes to any of these questions, then you might want to check out AIA Pro Achiever 3.0, the latest investment-linked plan from AIA Singapore.
In this blog post, I’ll give you an honest and comprehensive review of AIA Pro Achiever 3.0, covering its features, benefits, drawbacks, and suitability. By the end of this post, you’ll have a clear idea of whether AIA Pro Achiever 3.0 is the right plan for you, and how to get started with it.
What is AIA Pro Achiever 3.0?
AIA Pro Achiever 3.0 is a regular premium investment-linked plan (ILP) offered by AIA Singapore. It’s designed to help you grow your wealth with 100% of your premiums invested from the start, and boost your capital with attractive welcome and special bonuses.
Unlike traditional ILPs, AIA Pro Achiever 3.0 does not charge any bid-offer spread, policy fee, or mortality charge. This means that more of your money goes into your investments, and less into fees.
AIA Pro Achiever 3.0 also gives you the flexibility to choose from a range of initial investment periods (IIPs) of 10, 15, or 20 years, depending on your risk appetite and investment horizon. You can also adjust your premium amount, frequency, and allocation anytime after the IIP, as well as take a premium holiday or pass if you need a break.
What are the benefits of AIA Pro Achiever 3.0?
AIA Pro Achiever 3.0 has several benefits that make it an attractive investment plan for savvy investors. Here are some of the main ones:
Welcome, and special bonuses:
- To kick-start your investment journey, AIA Pro Achiever 3.0 offers up to 75% welcome bonus in the first three policy years, based on your annualized premium amount and IIP. You’ll also receive a special bonus of 5% from the 10th policy year, stepping up to 8% from the 21st policy year onwards, as long as you continue to pay the regular premiums.
Exclusive access to institutional funds:
- AIA Pro Achiever 3.0 allows you to invest in AIA Elite Funds and AIA Guided Portfolios, which are curated by world-class institutional asset managers such as BlackRock, Baillie Gifford, and Wellington. These funds are normally reserved for institutional investors, but AIA Pro Achiever 3.0 lets you tap into their expertise and performance with a minimum investment of $300 per month.
Wide variety of retail funds:
- If you prefer to make your own investment choices, you can also select from a wide range of retail funds offered by AIA and other reputable fund houses, covering different asset classes, regions, and sectors. You can also switch funds anytime without any charges, and enjoy automatic fund rebalancing to keep your portfolio aligned with your risk profile.
Cap on supplementary charges:
- AIA Pro Achiever 3.0 charges a supplementary charge of 1.5% per annum on the value of your units during the IIP, to cover the cost of insurance and other expenses. However, this charge is capped at 11 years of annual premiums, so you won’t pay more than that even if you choose a longer IIP. This means that more of your money will go towards your investments in the long run.
No medical check-up is required:
- AIA Pro Achiever 3.0 does not require any medical check-ups or health questions to start investing. This makes it easy and convenient for anyone to sign up, regardless of their health condition or medical history.
What are the drawbacks of AIA Pro Achiever 3.0?
AIA Pro Achiever 3.0 is not a perfect plan, and it has some drawbacks that you should be aware of before investing. Here are some of the main ones:
- AIA Pro Achiever 3.0 is an investment plan, not a savings plan. This means that your returns are not guaranteed, and you may lose some or all of your capital if the market performs poorly. You should be prepared to accept the risk and volatility of investing and have a long-term horizon to ride out the market fluctuations.
No guaranteed cash value:
- AIA Pro Achiever 3.0 does not have any guaranteed cash value or surrender value. The value of your plan depends entirely on the performance of your chosen funds. If you surrender or terminate your plan before the end of the IIP, you may incur a surrender charge and receive less than what you have invested.
Limited insurance coverage:
- AIA Pro Achiever 3.0 provides a basic insurance coverage of 105% of the total premiums paid, or the value of your units, whichever is higher, in the event of death or terminal illness. This may not be sufficient for your protection needs, especially if you have dependents or liabilities. You can add on riders to enhance your coverage, but they will incur additional charges and reduce your investment returns.
Who is AIA Pro Achiever 3.0 suitable for?
AIA Pro Achiever 3.0 is suitable for investors who:
- Have a long-term investment horizon of at least 10 years
- Want to start investing with 100% of their premiums from day one
- Want to enjoy regular bonuses and exclusive access to institutional funds
- Are comfortable with the risk and volatility of investing
- Have adequate insurance coverage or are willing to add on riders
How to get started with AIA Pro Achiever 3.0?
If you’re interested in AIA Pro Achiever 3.0, you can get started by following these steps:
- Contact an AIA financial adviser to discuss your investment objectives, risk profile, and fund selection
- Choose your preferred IIP, premium amount, frequency, and allocation
- Fill up the application form and submit the required documents
- Pay your first premium and start investing
Here are some frequently asked questions about AIA Pro Achiever 3.0:
What is the minimum and maximum premium for AIA Pro Achiever 3.0?
The minimum premium for AIA Pro Achiever 3.0 is $300 per month, $900 per quarter, $1,800 per half-year, or $3,600 per year. The maximum premium is subject to underwriting approval.
What are the charges for AIA Pro Achiever 3.0?
The main charges for AIA Pro Achiever 3.0 are the fund management charge, which ranges from 0.75% to 2.25% per annum depending on the fund, and the supplementary charge, which is 1.5% per annum on the value of your units during the IIP, capped at 11 years of annual premiums. There may be other charges, such as premium holiday charge, premium reduction charge, full surrender charge, and partial withdrawal charge, depending on your plan options.
Can I withdraw money from AIA Pro Achiever 3.0?
You can withdraw money from AIA Pro Achiever 3.0 after the end of the IIP, subject to a minimum withdrawal amount of $500 and a minimum balance of $5,000. There is no charge for withdrawals after the IIP, but you may incur a partial withdrawal charge if you withdraw during the IIP.
How can I monitor and manage my AIA Pro Achiever 3.0 plan?
You can monitor and manage your AIA Pro Achiever 3.0 plan online via My AIA SG, where you can view your plan details, fund performance, transaction history, and statements. You can also make changes to your plan, such as switching funds, changing premium amount or frequency, or taking a premium holiday or pass, via My AIA SG or by contacting your AIA financial adviser.
AIA Pro Achiever 3.0 is a smart and flexible investment plan that can help you grow your wealth with 100% of your premiums invested from the start, and boost your capital with attractive welcome and special bonuses. It also gives you exclusive access to institutional funds and a wide variety of retail funds, as well as the flexibility to choose your IIP, premium amount, frequency, and allocation. However, AIA Pro Achiever 3.0 is not a risk-free or guaranteed plan, and you may lose some or all of your capital if the market performs poorly. It also does not provide much insurance coverage, and you may need to add on riders to enhance your protection. AIA Pro Achiever 3.0 is suitable for investors who have a long-term investment horizon,