[Multi-pronged Accident Insurance] 4 core covers plus 2 enhanced protection layers

As the pandemic eases, everyone has returned to normal life — going to the gym, playing football, cycling and hiking. Such a vibrant lifestyle naturally comes with the risk of accidents, and only with sufficient protection can you enjoy yourself with peace of mind and to the full. To provide all-round accident protection, FWD Life has specially launched the 自心安意外保障計劃 (hereinafter referred to as “FWD 自心安” / “this Plan”). In addition to covering common accident protection, the product also offers the market-first¹ cover for scars³ caused by accidents, helping you get life back on track.

Once an accident unfortunately occurs and causes bodily injury, it can not only disrupt your daily routine, but in serious cases may also affect your ability to work, resulting in reduced income or even loss of income. When the body is injured in an accident, aside from medical expenses, funds are also needed to cover daily living costs. For those who are the financial pillar of their families, even more preparation is needed.

FWD 自心安 is available to persons aged 64 or below, covering a wide age range. For those aged 18 to 64, the maximum original sum insured is as high as HK$1,500,000. The product offers two levels of cover (Standard Plan and More Peace of Mind Plan), allowing customers to choose according to their personal needs and budget, with great flexibility.

Both levels of cover provide the following four core benefits (the compensation amounts below are calculated based on policyholders aged 18 to 64, with the maximum original sum insured of HK$1,500,000):
 

Accidental death and dismemberment benefit²: compensation for specified injuries resulting from an accident, including loss of limb, third-degree burns, or even death, up to HK$1,500,000.

Accident-related scar³ benefit: the market-first1 compensation for scars caused by accidents3, with one advance payment of the accidental death and dismemberment benefit equivalent to 20% of the original sum insured, up to HK$300,000.

Compassionate death benefit: if the insured unfortunately dies as a result of an accident, compensation of 1% of the original sum insured, up to a maximum of HK$15,000.

24-hour global assistance services⁴: 24-hour, round-the-clock global assistance services4, including telephone medical advice, emergency medical evacuation and repatriation of remains.

Enhanced cover: permanent total disability benefit^2,5 and double indemnity benefit

Many parents are the financial pillars of their families and hope to have more comprehensive protection. Therefore, the More Peace of Mind Plan further enhances the cover.

Permanent Total Disablement Benefit^2,5: If the insured person is aged 18 or above on the date of the accident and suffers Permanent Total Disablement, and such disablement continues uninterruptedly, starting from the 13th month, the insured person may receive a monthly benefit during the period of continuous disablement, at 1% of the insured amount, up to a maximum of HK$15,000, for a maximum period of 18 months. If Permanent Total Disablement continues after those 18 months, the plan will pay an amount equal to the remaining balance of the insured amount⁶.

Double Indemnity Benefit: Double compensation is provided for the accidental death and dismemberment benefit², accidental scarring benefit³ and Permanent Total Disablement Benefit^2,5 under specified circumstances, including a fire occurring in a public building, licensed hotel, school, hospital, restaurant, shopping mall or public transport station while the insured person is already present at the location when the fire starts; or being struck by a motor vehicle as a pedestrian, or being injured in a traffic accident, etc.

Table 1: Summary of Benefits under the SecureCare Accident Protection Plan (HKD)    
Assuming the policyholder is aged 18 to 64 (maximum original insured amount: HK$1,500,000)

Peter, aged 34, lives in Hong Kong and works as an administrative assistant. He understands that accidents can happen at any time when travelling or at work. To reduce the impact of unforeseen events on himself and his family, he took out the Greater Peace of Mind Plan with an original sum insured of HK$1,000,000.

 Eight months after the policy was issued, Peter received total compensation of HK$440,000 after permanently and totally losing the function of one toe while travelling as a fare-paying passenger on a public transport vehicle, and suffering restricted joint movement in his left ankle due to a contracture scar caused by an accident. The calculation is as follows:

One year later, he tragically died in an earthquake while travelling, and Peter’s wife received total compensation of HK$1,570,000 as financial support. The calculation is as follows:

Individuals aged 18 to 64 can take out 富衛自心安 online in under 10 minutes, with no health proof required, making it simple and convenient. You can also obtain accident cover at an affordable premium. The product premium is not affected by age or gender, and only takes into account factors such as occupation class⁸, existing sum insured, and premium payment method (annual or monthly)⁸.

The above product is underwritten by FWD Life Insurance Company (Bermuda) Limited (“FWD Life”). The above information does not contain the full terms and conditions of the policy and is subject to the terms and conditions of the relevant plan. For details of the product features, benefits, full terms, exclusions and key product risks, please refer to the FWD website, the relevant product brochure and the policy terms and conditions.

The above content is sponsored by FWD Financial Limited (“FWD Financial”), which is an insurance agency appointed by FWD Life. The information is provided by FWD Financial and FWD Life. 10Life has not been authorised by FWD Financial and FWD Life to carry out and/or provide any insurance-related products and/or services, nor will it provide any insurance advice or recommendations. Readers should assess all information contained in this article on their own or seek independent professional advice.

This advertisement is intended for use in Hong Kong only and shall not be construed as an offer to sell, solicitation to buy or provision of insurance products of FWD Life outside Hong Kong. The sale and application procedures for this promotion must be carried out and completed within Hong Kong.

1. Note:
   Based on a comparison made by FWD Life on 28 February 2022 with the personal accident insurance products of major insurers in Hong Kong, the scar benefit caused by accident was the first of its kind in the market.
2. Accidental death and dismemberment (please refer to the benefit details on page 11 of the product brochure) and permanent total disability must occur within 180 days after the date of the accident. Regardless of the number of accidental injuries suffered by the insured person, FWD Life Insurance Company (Bermuda) Limited (a company incorporated in Bermuda) (“FWD Life”) will pay a maximum of 100% of the original sum insured in aggregate for the accidental death and dismemberment benefit and permanent total disability benefit. When the total amount of compensation reaches 100% of the original sum insured (when the remaining sum insured is zero), the plan will terminate immediately. If the amount payable exceeds the remaining sum insured, FWD will only pay the remaining sum insured as compensation.
3. For the medical definition of scar caused by accident, please refer to the policy terms and conditions.
4. This service is currently provided by International SOS and renewal is not guaranteed. FWD Life will not accept any responsibility for the acts or omissions of International SOS or any professionals referred by it. FWD reserves the right to amend, suspend or terminate the International SOS 24-hour worldwide assistance service, and to revise the relevant terms and conditions at any time without prior notice.
5. Before FWD Life starts paying a) monthly compensation and b) the remaining sum insured, the insured person must be certified by a doctor as having a disability with no reasonable prospect of improvement.
6. The remaining sum insured is equal to the original sum insured minus any compensation paid under the accidental death and dismemberment benefit, the accidental scar benefit and the permanent total disability benefit. Once 100% of the original sum insured has been paid, the remaining sum insured becomes zero.
7. The occupation class classification is for reference only and is subject to underwriting decision. Class 1: people engaged in indoor or professional, administrative, managerial, clerical and non-manual occupations. For example: accountants, lawyers, doctors, teachers. Class 2: people engaged in outdoor work and/or supervisory work involving non-manual engineering. For example: engineers, salespersons, domestic helpers, postmen. Class 3: workers engaged in light manual work without the use of heavy machinery. For example: bakers, restaurant waiters, locksmiths. Class 4: people engaged in manual work. For example: electricians (indoor occupations), mechanics, windsurfing instructors.
8. Premium rates are not guaranteed. FWD reserves the right to review and adjust premiums from time to time.
9. The premium information above is updated to 5 August 2023 and does not include the premium levy collected by the Insurance Authority.
10. Last updated: 5 August 2023.

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.