Hi all, hopefully I can get some information here for a very old insurance policy for my aunty. She purchased the insurance in year 1996 from AIA, and the agent no longer stay contact with her anymore.
Insurance Plan : AIA Visionlife Plus
Face amount : 25000
Policy date : May 17, 1996
Maturity date : May 17, 2069
Age : 27
Type of coverage:
Life
Amount : 25000
No of years premium payable : 61
EAPWP
Amount : 25000
No of years premium payable : 33
CLR
Amount : 25000
No of years premium payable : 61
AI
Amount : 15000
No of years premium payable : 38
My question for this policy is
1) what does it means by No of years premium payable? Is that means the year where the rider will be elapsed from policy date?
2) until when the insurer need to continue pay the premium for this policy to keep it active? Is it until 88 years old?
Hopefully any professional can help to answer this as I tried to search around in AIA website but they have no much information on this...🙏
1. From the looks of it, it would mean that after the No. of years; the rider will cease.
2. Once the policy is reaches May 17, 2069, the policy will mature & cease.