10Life Financial Limited
Enquiries: enquiries@10life.com
Hotline: (852) 3705 1599
Address: 16/F Greatmany Centre, 109-115 Queen’s Road East, Wan Chai, Hong Kong
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1. Buy life insurance with just a few clicks to protect your family
2. “Online shopping” with Voluntary Health Insurance Scheme coverage to reduce health risks
Special protection for vaccine side effects, suitable for unvaccinated individuals
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The pandemic warning remains: two ways to protect your health
Hong Kong’s COVID-19 pandemic has been like a roller coaster, from relative calm at the end of last year to more than 50,000 confirmed cases in a single day at the beginning of this year. Although the number has gradually declined in recent days, there are still more than 100 confirmed cases every day.
Those who have not been infected are worried about catching the virus, while those who have recovered remain fearful of it. Members of the public should make two preparations for themselves—“press a few buttons” to safeguard their health and avoid exposure to risk.
1. Buy life insurance with just a few clicks to protect your family
This round of the Omicron variant has been regarded by experts as less virulent, but it still carries a certain mortality rate, and cases of “re-positive” test results have also emerged from time to time around the world. In the event that anything unfortunate happens, your family may face financial difficulties. Therefore, taking out life insurance is equivalent to providing your family with protection.
There are many types of life insurance. Some provide lifetime protection, while others include a savings component and have relatively higher premiums. If you wish to obtain a higher level of death benefit at a lower premium and through a faster process, pure term life insurance is a good option. What is more, it can now be purchased easily online.
「FWDMyTerm」provides coverage of up to HK$4 million1. If a registered specialist certifies that the insured person is highly likely to pass away within 12 months, the death benefit may also be paid in advance2, helping the beneficiaries in the family overcome financial difficulties.
FWD Life is currently offering a first-year premium discount of 90%. From now until 31 May 2022, based on a non-smoking male aged 25, with coverage of HK$1 million and a 10-year renewal term, the first-year premium after the discount is only HK$84.
In addition, the policyholder may convert 「FWDMyTerm」to a designated permanent life insurance plan of FWD Life on or before the insured person reaches the age of 70, without having to provide evidence of insurability3.
2. “Online shopping” with Voluntary Health Insurance Scheme coverage to reduce health risks
Hong Kong’s pandemic situation is currently at a critical point. With the risks of infection or “re-positive” cases remaining relatively high, it is advisable to first purchase a medical insurance policy or a government-recognised Voluntary Health Insurance Scheme (VHIS) plan, in preparation for any serious or minor illnesses that may arise in the future.
Underwritten by FWD Life, the “vCare Medical Plan” is a VHIS Flexi Plan (VHIS product certification number: F00015-01-000-02; VHIS product provider registration number: 00036). From now until 31 May 2022, it is offering a 90% discount on the first-year premium. For example, a 25-year-old non-smoking male policyholder would only need to pay HK$287 after the first-year premium discount (the premium only applies to this example and is not guaranteed). This insurance plan can also be purchased online, allowing you to obtain protection without leaving home.
Special protection for vaccine side effects, suitable for unvaccinated individuals
Finally, the above two insurance policies provide protection against the risks of death and health respectively. Both products come with Special Vaccine Side Effect Protection, making them an ideal choice for those who have not yet been vaccinated and are concerned about side effects.
From now until 30 June 2022, anyone who becomes an eligible customer of any FWD personal insurance plan4 will automatically receive Special Vaccine Side Effect Protection5 free of charge. The protection covers all vaccines approved by local authorities, including vaccines against Coronavirus Disease 2019. If an eligible customer experiences a covered adverse reaction after receiving a vaccination, FWD will provide pre-hospitalisation outpatient protection, Hospital Cash Benefit and compassionate death benefit, among other benefits.
Table: Special Vaccine Side Effect Protection
| Pre-hospitalisation outpatient protection | HK$300 (maximum of 1 time) |
| Hospital Cash Benefit | HK$1,000 per day (limited to 1 hospitalisation, up to 15 days) |
| Compassionate death benefit | HK$250,000 |
Finally, the above insurance products can enhance the public’s ability to combat the pandemic. However, during this severe stage of the pandemic, members of the public should also reduce going out to minimise the risk of infection.
The product information is for reference only and does not include all terms and conditions of the policy, the major risks of the product or all exclusions. For details of the benefits and major risks of the product, please refer to the product brochure. For the detailed terms and conditions of the policy and all exclusions, please refer to the policy terms of this plan.
Notes:
1. If the insured’s age next birthday is 52 to 61, the maximum sum assured is HK$2 million.
2. If the insured is certified by a registered medical practitioner as being very likely to die within 12 months, and such certification is accepted by FWD Life, the accelerated death benefit will be paid to the policy beneficiary. The maximum accelerated death benefit payable in respect of each insured under all policies issued by FWD Life is HK$16,000,000 (or US$2,000,000). Once this benefit is paid to the policy beneficiary, the sum assured and premiums will be reduced accordingly. If the sum assured becomes zero after payment of the accelerated death benefit, the basic plan (and Enjoy Life Enhancement Benefit, if any) will terminate.
3. If you apply for a conversion, you must submit a written application to FWD Life. The conversion is subject to the rules and procedures applicable to FWD Life at the time of conversion and depends on the product options available from FWD Life at the time of conversion. Please refer to the policy terms for details.
4. Personal insurance plans refer to personal insurance plans underwritten by FWD Life Insurance Company (Bermuda) Limited (a company incorporated in Bermuda) (“FWD”), FWD Life (Hong Kong) Limited, FWD Life Insurance (Hong Kong) Limited and FWD Life Insurance (Macau) S.A. (“FWD Life”).
5. “Special Vaccine Side Effect Protection” provides protection against covered adverse reactions arising after receiving designated vaccines and is subject to the terms and conditions. For more details of “Special Vaccine Side Effect Protection”: https://bit.ly/3zW8YoB
6. The above premium information was updated as at 3 May 2022 and does not include the premium levy charged by the Insurance Authority.
7. Last updated: 3 May 2022
The information in this article is provided by FWD Life for general reference only. It does not take into account any individual needs or suitability and should not be regarded as sales advice. Before taking out a policy, you should discuss an insurance solution suitable for you with a licensed insurance adviser and refer to the information provided by the insurance company.
This English version of this article has been generated by machine translation powered by AI. It is provided solely for reference purposes. In the event of any discrepancy or inconsistency between this translation and the original Chinese version, the Chinese version shall prevail.
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1. The information of this article has been provided by the advertiser to promote its products and services.
2. The information of this article is intended for general education purpose and reference only. None of the information is intended, nor should they be considered or relied upon, as and is not, regulated advice, insurance, financial, investment or professional advice, recommendation, approval, endorsement, invitation or solicitation in respect of any insurance, financial or investment products.
3. 10Life Financial Limited will not be responsible for any liability, claim or loss arising from or associated with you using the information. No warranty, representation or guarantee is given by 10Life Financial Limited on the accuracy, completeness and timeliness of the information or for any claims and / or losses caused thereby.
