FAQs

1. How To Make A Claim

• You may contact your servicing agent or AIA claims department if you wish to make a claim.
  
• Please refer to the Quick Guide For Making a Claim brochure for more details on what is required on the type of claim you wish to make.

2. Important Notes

• All documents submitted must be in English. Any document that is not in English must be accompanied by an English translated copy of the document made by a certified translator/interpreter.
  

• All forms must be duly completed and signed to avoid delay in claim processing. Please indicate “N.A” for fields which are not applicable.
• The Claim Form must be signed using the same signature as in AIA Brunei’s records.

3. Submission Of Documents

• All claims required documents can be submitted to AIA Brunei through your servicing agent.
• Alternatively you may submit the claim personally to AIA Brunei Office.
  

  Our Office Opening Hours:
  Monday to Thursday, Between 8.15 am – 5.00 pm
  Friday, Between 8.15 am – 12.00pm and 2.00pm -5.00pm

Term insurance provides temporary life insurance protection for a stipulated period of time. The sum assured of the policy is paid to the beneficiary when death occurs during the stipulated term. Nothing is paid upon the survival of the insured at the end of the stipulated term. Being the cheapest form of insurance, term policies are best suited for those who require insurance protection at the lowest cost, such as fresh graduates with relatively low disposable income. Term policies are not available to children below the age of 16.

Term insurance policies are usually packaged with renewable or conversion privileges.

• Renewable privilege

Upon the maturity of a renewable term insurance policy, the insured has the right to renew the policy without having to prove insurability. This means that a new term policy will be issued by the insurance company regardless of the state of health of the insured then. The premiums of the new policy will be based on the then attained age of the insured.

• Conversion privilege

Convertible term insurance gives the policyholder the right to convert a temporary insurance policy to a permanent insurance policy, i.e. a whole life or an endowment policy, without having to prove insurability. This option is particularly important because insurance needs change with time. The premiums of the new policy will be based on the then attained age of the insured.

It offers a lifetime insurance protection. You pay premiums throughout your life, but this can be changed to a limited period. It will pay out the insured amount and any bonuses you have built up when you make a claim. 

It offers insurance protection and savings. It will pay out the insured amount and any bonuses you have built up when you make a claim, choose to stop the policy or at the end of the policy.

Your premium buys life insurance protection and investment units in a managed fund. Like a unit trust, your money is pooled with that of other investors and invested in short- and long-term investments. The price of your units depends on how the investments in the fund perform. The amount that the plan pays depends on the price of the units at the time you cash it or pass away. You will also get a death benefit.

Life insurance policies are broadly categorised as participating and non-participating policies.

Participating policies are policies that entitle the policyholders to share in the profits of the insurance company, in consideration of the additional premiums they contribute. The profits given are generally called bonuses. The benefits from participating policies include a non-guaranteed element (i.e. bonus), which is determined by the performance of the insurance company.

Non-participating policies do not share in the profits of the company. An example of a non-participating policy is a term insurance policy.

AIA Brunei has been a trusted life insurer in Brunei over the past 60 years. The Brunei business is currently set up as a branch of AIA Company Limited, which is incorporated in Hong Kong and regulated by the Hong Kong Insurance Authority. 

We have received approval in principle from the regulators to set up a new Brunei branch of AIA Singapore Private Limited and for such branch to secure a life insurance licence in Brunei. AIA Singapore Private Limited is a licensed insurer in Singapore and regulated by the Monetary Authority of Singapore (“MAS”). 

We are proposing to transfer our business from AIA Company Limited, Brunei Branch (“Current Branch”) to AIA Singapore Private Limited, Brunei Branch (“New Branch”). AIA Singapore Private Limited is a prominent life insurer with a long history of close to 90 years in Singapore. Any transfer remains subject to the approval of the Brunei High Court (“the Court”).

With the transfer, AIA Brunei will be aligned with AIA Singapore Private Limited’s legal and operational structure, thereby enhancing operational efficiencies. 

This alignment will allow a streamlined approach, so that we can more efficiently and consistently meet our customers’ needs. 

AIA Singapore Private Limited is also a subsidiary of AIA Company Limited, so there is no change of control of the Brunei branch to a third party. This is an intra-group transfer and Brunei branch before and after the transfer remains part of AIA Group.

The transfer will be effected by way of a scheme of transfer (the “Scheme”). The Scheme has been submitted to the Autoriti Monetari Brunei Darussalam (“AMBD”) and approved. Next, an application will be made to the Court for confirmation. The transfer is planned to take effect on 1 January 2020 or such other date as may be ordered by the Court (the “Transfer Date”). 

Meanwhile, the new Brunei branch of AIA Singapore Private Limited has been registered and we are in the process of securing a licence to be issued under the Insurance Order, 2006 for it to conduct life insurance business in Brunei. Such registration and securing of a life insurance licence will be undertaken before the Transfer Date.

We have received approval in principle from the regulators to set up a new Brunei branch of AIA Singapore Private Limited and for such a branch to secure a life insurance licence in Brunei.

The interests of affected parties are being protected by a rigorous review process. Such process includes the appointment of an independent actuary to produce a report on the potential impact of the Proposed Transfer on policyholders, consultation with and approval of the MAS and AMBD, ability for all policyholders to raise concerns and object to the transfer at the Court hearing, and requirement for the transfer to be approved by the Court whereby the Court must be satisfied that policyholders are not disadvantaged by the Proposed Transfer. 

With the transfer, AIA Brunei will be aligned with AIA Singapore Private Limited’s legal and operational structure, thereby enhancing operational efficiencies. 

This alignment will allow a streamlined approach in the region, so that we can more efficiently meet our customers’ needs. 

AIA Singapore Private Limited, a subsidiary of AIA Company Limited, is a prominent life insurer with a long history of close to 90 years in Singapore. 

We are committed to professional and effective processes that minimise risks to our operations. 

Protecting our stakeholders’ interests is our priority. AIA Singapore Private Limited and AIA Brunei operate under a rigorous regulatory environment, with strict controls and processes in place to ensure that the policies with AIA Singapore Private Limited and AIA Brunei remain secure.

The existing terms and conditions of your policy / policies will remain unchanged; they will be automatically transferred to the New Branch. There will be no changes to the services and quality of service we provide to you. AIA Brunei branch policyholders will not be adversely affected by the Proposed Scheme. 

An independent actuary has assessed the potential impact of the Proposed Transfer on policyholders. A copy of the independent actuary report (“IA report”) on the Proposed Transfer is available for your reference at www.aia.com.bn.

The existing terms and conditions of your policy / policies will remain unchanged; they will be automatically transferred to the New Branch. There will be no changes to the services and quality of service we provide to policyholders.

If you pay your premiums through cheque, bank draft or telegraphic transfer, you will have to make it payable to AIA Singapore Private Limited starting from the Transfer Date. You may also refer to detailed information on premium payment methods in AIA Brunei website https://www.aia.com.bn/en/help-support/faq.html. No other action is required.

If any policyholder believes they may be adversely affected, they are entitled to be heard by raising their objection(s) or concern(s) about the transfer at the Court hearing, on the hearing date when AIA makes its application to Court.

Policyholders who do not consent to the transfer are advised to seek independent legal advice on the matter. However, please note that if the transfer has been approved by the AMBD and endorsed by the Court, all policies of the Current Branch shall transfer to the New Branch. The existing terms and conditions of your policy / policies will remain unchanged.

A summary of the Scheme, a copy of the IA report and FAQs on the Proposed Transfer are available for your reference at www.aia.com.bn. The documents in the website are provided to share the details of the Scheme as required by applicable laws and regulations and in order to ensure that relevant information has been provided to policyholders. Wherever possible, appropriate executive summaries or simplified explanations of certain documents have been provided. 

We would like to reassure you that the existing terms and conditions of policies will remain unchanged and the policies will be automatically transferred to the New Branch. There will be no changes to the services and quality of services we provide to policyholders. 

The changes to our Brunei business do not require any action on your part.

More information on the Proposed Transfer can be found on our website www.aia.com.bn. For further assistance, please call our AIA Hotline at +673 222 3366 from 8.45am to 5.30pm, Mondays to Fridays or get in touch with us at https://www.aia.com.bn/en/help-support/contact-us.html.

Should you have any queries on your policy / policies, please feel free to contact your AIA Insurance Representative.