Based on FTLife Insurance Company Limited, FTLife Launches “HealthCare 168 Plus” Critical Illness Protector
First-in-Market to Offer Protection against Loss of Functionality of Key Organs and Additional Monthly Financial Support, Providing Comprehensive Protection Against Critical Illness
FTLife Insurance Company Limited (“FTLife”) today announced the launch of “HealthCare 168 Plus” Critical Illness Protector (“HealthCare 168 Plus” or “the Plan”), aggregated with two first-in-market[1] features including additional monthly financial support for three common Severe Urban Diseases (Cancer, Stroke and Severe Heart Attack), as well as protection against the “Loss of Functionality of Key Organs[2]“, providing customers with more comprehensive health protection.
FTLife Chief Commercial Officer and Chief Product Officer Christine Yeung said, “Cancer, heart disease and stroke are common urban diseases in Hong Kong, with the number of patients on the rise[3]. Cancer is the number one killer in Hong Kong. According to the latest data from the Hong Kong Cancer Registry[4], a total of 34,028 new cancer cases were diagnosed in 2018, while the cancer incidence is expected to reach more than 42,000 new cases per annum by 2030. In response to market needs, FTLife has strengthened the critical illness protection of the plan, including (1) multiple coverages aggregate up to 500% of the sum insured on these three severe urban diseases, (2) reset to the maximum 100% of the sum insured after claims, (3) comprehensive coverage against Carcinoma In Situ in all organs, and (4) the first-in-market Caregiving Support Benefit. All these new features allow us to provide customers with timely support and care, accommodating their needs and interests.”
“Furthermore, FTLife has created different insurance products with innovative designs for clients. The “HealthCare 168 Plus” is a breakthrough in the traditional concept of critical illness protection, and especially provides protection for “Loss of Functionality of Key Organs[2]” conditions. Insured diagnosed with designated conditions of heart, lung, liver or kidney would be protected even if the cause of the illness cannot be ascertained or the illness is unknown. Customers’ health will be fully protected, so that they can enjoy life and plan for the future with peace of mind,” added Yeung.
First-in-market Caregiving Support Benefit to Provide Additional Monthly Support
Critical Illnesses not only seriously impact individuals’ health, but also leave a heavy burden on family finances during the recovery process. Therefore, the Plan presents its brand-new Caregiving Support Benefit[5] to offer additional support for follow-up treatment and life as a patient. If the insured is diagnosed with and claimed for cancer, stroke or severe heart attack under Severity Level 3 Critical Illnesses, 1% of the sum insured will be paid on each policy monthly anniversary for a period of up to 18 months following such diagnosis (i.e., up to 18% of the sum insured), without needing to submit any proof of active treatment or end-of-life care. Up to four times of Caregiving Support Benefit (up to 72% of the sum insured in total) can be obtained from each policy.
Other protection features include:
- Coverage against 168 illnesses with special coverage against the condition of “Loss of Functionality of Key Organs”: It covers a wide range of diseases, and specifically includes critical illnesses that can cause “Loss of Functionality of Key Organs”. It also provides protection for 17 juvenile illnesses, thus fully protecting the health of customers.
- An aggregate total up to 500% of the sum insured for three severe urban diseases[6]: Aggregated benefit of up to 400% of the sum insured for cancer, stroke and severe heart attack. Together with the first Living Benefit, the Plan could pay an aggregate benefit of up to 500% of the sum insured.
- Reset to the maximum 100% of the sum insured after claims[7]: The Plan offers a Protection Reset Benefit to free the insured from worries about the reduction of their existing protection by previous claims. If claims for Living Benefits of Severity Level 1 and 2 Critical Illness and / or Juvenile Illness have been paid or are payable, the Plan can provide another up to 100% of the sum insured if the Insured unfortunately passes away or is diagnosed with a Severity Level 3 Critical Illness at least 1 year later and before the Policy Anniversary at which the Insured attained age 70, with protection reset by up to 100% of the sum insured.
- Additional Death Benefit or Additional Living Benefit: If the Insured unfortunately passes away or is diagnosed with Severity Level 3 Critical Illness within the designated policy year, additional benefit will be paid.
- Additional coverage on serious or long-term Respiratory Diseases: Offers coverage for the Insured up to age 70.
- Covers Carcinoma In Situ in all organs: The Plan provides coverage against Carcinoma In Situ in all organs (except Carcinoma In Situ of the skin) to allow the Insured to be treated at the earliest stage.
- Convertibility Privilege: Starting from designated Policy Anniversary, customers can choose to convert the Additional Living Benefit and Additional Death Benefit into designated whole life or whole life with critical illness protection insurance plan, to maintain continuous protection.
SOURCE FTLife Insurance Company Limited
