Following the Family Fortune Savings Insurance Plan launched last year, Hong Kong Life’s Family Care Dread Disease Protection Plan safeguards customers’ family by offering Family Cancer Benefit to the Policyowner’s parents, spouse, and children (Covered Family Members). To help customers embrace a healthier life journey, the Plan also takes care of health issues beyond dread diseases by providing ICU Benefit and Health Checkup Service, etc.
Ms. Micky Cho, Chief Marketing Officer of Hong Kong Life, said: “Having a full protection for yourself and your family is an indispensable element of family planning. Following the Family Fortune Savings Insurance Plan launched last year, we continue to demonstrate the family protection approach by presenting Family Care Dread Disease Protection Plan to customers. The Plan extends the coverage to Policyowner’s parent, spouse and children with Family Cancer Benefits which meets the health protection needs of customers and further safeguard their family members.”
Key Features of Family Care Dread Disease Protection Plan :
The Plan provides 2 choices of Premium Payment Term1, i.e. 10 years1 and 20 years1, with whole life protection until age 100 of the Life Insured.
The Plan covers 60 Major Dread Diseases2 and 46 Early Stage Dread Diseases2, as well as 12 Severe Juvenile Diseases2 to safeguard your health comprehensively. If the Life Insured is diagnosed with covered Dread Diseases, the Dread Disease Benefit of the Plan will be paid. For details of covered Dread Diseases and benefit, please refer to List of Covered Dread Disease and Dread Disease Benefit Schedule.
The Plan provides ICU Benefit3 which extends its coverage to health issues beyond dread diseases. If the Life Insured is required for a Qualified ICU Stay4 for a total of consecutive 3 days or more due to Sickness or Accident, a payment which is equal to 20% of Sum Assured, less Indebtedness (if any) will be paid as ICU Benefit3. Such benefit will only be paid once.
The Plan specially offers Family Cancer Benefit5 to the Policyowner’s parents, spouse and children (except the Life Insured). No medical examination and health questions are required for the Covered Family Members. If the parents, spouse or children is diagnosed with Cancer during the benefit term of the Family Cancer Benefit5, for each Covered Family Member, the Family Cancer Benefit5 of the Plan which is equal to up to 20% (applicable for 10 Years Premium Payment Term) or 40% (applicable for 20 Years Premium Payment Term) of Total Initial Annual Premium will be payable to the Policyowner. Family Cancer Benefit5 could be claimed a maximum of 4 times and in which a maximum of 1 time for each of the Covered Family Member, and limited to one payment for one spouse only. The policy value and coverage of the Life Insured will not be changed due to the claim of Family Cancer Benefit5.
Family Cancer Benefit5 | Parents | Spouse | Children |
Maximum no. of Covered Family Members | 2 | 1 | No Limit |
Benefit Term* | Before age 85 of Parents/Spouse | Before age 18 of Children | |
Benefit Amount | Covered Family Members who are under age 66 on the date of endorsement: 20% (applicable for 10 Years Premium Payment Term) / 40% (applicable for 20 Years Premium Payment Term) of the Total Initial Annual Premium Covered Family Members who are at or above age 66 on the date of endorsement: 10% (applicable for 10 Years Premium Payment Term) / 20% (applicable for 20 Years Premium Payment Term) of the Total Initial Annual Premium (maximum of 4 times and in which a maximum of 1 time for each of the Covered Family Member, and limited to one payment for one spouse only) |
*The Family Cancer Benefit for each Covered Family Member will be effective 2 years after (i) the endorsement date of such Covered Family Member or (ii) date of any reinstatement, whichever is later.
Also, the Family Cancer Benefit5 provides conversion privilege to the Policyowner’s children to suit their needs. Within 30 days of the Covered Family Member reaches age 18, if no Family Cancer Benefit5 has ever been paid for such Covered Family Member, such Covered Family Member may apply for a new permanent life plan as defined by Hong Kong Life from time to time for an amount up to 100% of Sum Assured of the Plan without further evidence of insurability, subject to the specific terms and conditions, and the then administrative rules as determined by Hong Kong Life from time to time.
Health Checkup Service6
During the first 10 Policy Years, the Plan provides one time of health checkup service to the Life Insured or Covered Family Members to enjoy every two consecutive Policy Years starting from the 2nd Policy Anniversary.
Second Medical Opinion from Overseas Expert Service7
If the Life Insured has been diagnosed with the dread disease covered by the service, through its professional medical network, the service enables the Life Insured to seek second medical opinion from overseas experts7.
Apart from Dread Disease Benefit, the Plan also offers whole life protection. If the Life Insured dies while the Plan is in force, the Total Death Benefit which is equal to 100% of Sum Assured, less Dread Disease Benefit8 already paid, plus Terminal Dividend (non-guaranteed)9 (if any), less Indebtedness (if any) will be paid to the Policy Beneficiary.
In addition, the Plan provides flexible Death Benefit Settlement Options10 instead of receiving the Death Benefit in a lump sum payment, Policyowner can designate other settlement options including Installment Payments (Fixed Amount) or Installment Payments (Fixed Period) while the Plan is in force and the Life Insured is alive to settle the Death Benefit to the Policy Beneficiary.
The Plan not only provides Guaranteed Cash Value, a Terminal Dividend (non-guaranteed)9 may be payable on or after the end of 12th Policy Year upon the death of the Life Insured, when the Policy is surrendered by the Policyowner, the Major Dread Disease Benefit is fully paid or upon Policy Maturity, whichever is the earliest.
Client Incentive11?Up to 25% First Year Premium Discount
Promotion Period?From now till 31 December 2022
Details of Family Care Dread Disease Protection Plan:
https://www.hklife.com.hk/en/products/personal-insurance/medical-dread-disease-plan/family-care-dread-disease-protection-plan/index.html
Terms and Conditions apply. For enquiries, please contact our Customer Service Hotline at 2290 2882 or visit Hong Kong Life website www.hklife.com.hk.
Note?
General Client: www.hklife.com.hk/en/promotions/index-id-17.html
Corporate & Bank VIP: www.hklife.com.hk/en/promotions/index-id-18.html
Hashtag: #HongKongLife
Established in 2001, Hong Kong Life Insurance Limited (“Hong Kong Life”) was founded by five local financial institutions including Asia Insurance Company Limited, Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited, which laid their foundations and have been serving people in Hong Kong for more than 50 years in average. Through our extensive network of around 150 distribution points comprising Chong Hing Bank, CMB Wing Lung Bank, OCBC Wing Hang and Shanghai Commercial Bank, we provide a comprehensive range of insurance services.
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