[Tax-Deductible Voluntary Health Insurance Comparison] Plans with Annual Premiums Below HKD 6,000: Coverage Ratio Showdown | 10Life

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The outbreak of COVID-19 has heightened health awareness among Hong Kong residents, with Voluntary Health Insurance Schemes (VHIS) featuring tax deduction benefits drawing significant attention. However, some opinions suggest that medical insurance premiums are expensive, posing a heavy burden for ordinary families. Are there any VHIS plans in the market with average annual premiums below HKD 6,000 that also offer high coverage?

Lower Premiums Do Not Necessarily Mean Lower Coverage

10Life has shortlisted 10 VHIS plans (standard ward level) with premiums below HKD 6,000, no deductible, and relatively high average coverage rates from its insurance decoder, ranked by medical average coverage rate (see note 1).

Table 1: Comparison of VHIS Plans at Standard Ward Level with No Deductible and Average Annual Premiums Below HKD 6,000
(Assuming the insured is a 35-year-old non-smoker)

Standard Ward Plan	Male Aged 35-44 Average Annual Premium	Female Aged 35-44 Average Annual Premium	10Life Medical Expected Average Coverage	Basic Plan Coverage Limit (Per Policy Year)	Supplementary Medical Coverage Limit (Per Policy Year)
FWD \| FWD 易衛您醫療計劃（標準）	$5,401	$7,039	100%	$500,000 Per Disability Per Policy Year	Not Applicable
FWD \| FWD 更衛您（優越版）醫療計劃	$4,680	$6,173	78.8%	$520,000 Per Policy Year	$100,000 With 15% Co-insurance
Cigna Healthcare \| Cigna 信諾自願醫保系列－靈活計劃（附加保障）	$5,207	$5,207	76.1%	$570,000 Per Policy Year	$150,000 With 10% Co-insurance
Fubon Life \| FTLife 「摯康保」醫療保障計劃 (Coverage Level 1, Including Supplementary Medical Coverage)	$5,255	$7,688	69.2%	No Limit	$100,000 With 15% Co-insurance
Zurich \| Zurich 「智選無憂」自願醫療保障計劃- Selected with Supplementary Medical Coverage	$5,497	$6,984	67.6%	$550,000 Per Policy Year	$120,000 With 20% Co-insurance
Bowtie \| Bowtie 保泰自願醫保 - 靈活計劃 - 基本計劃¹	$3,372	$4,394	66.7%	$600,000 Per Policy Year	$120,000 With 20% Co-insurance
Asia Insurance \| Asia Insurance 亞洲緻安心 – 計劃2	$5,082	$6,674	62.9%	$500,000 Per Policy Year	Not Applicable
YF Life \| YF Life 「稅」安心醫療計劃（計劃1M）	$4,770	$8,206	62.1%	$600,000 Per Policy Year	$120,000 With 20% Co-insurance
Liberty Insurance \| Liberty Insurance 利寶國際自願醫保系列– 靈活計劃（Basic Including Supplementary Medical Coverage）	$5,794	$5,794	61.8%	$500,000 Per Policy Year	$100,000 With 20% Co-insurance
Sun Life \| Sun Life 永明港稱心醫療保計劃2	$4,024	$4,633	59.7%	$800,000 Per Policy Year	$300,000 With 20% Co-insurance
Voluntary Health Insurance Standard Plan	$2,084 to $4,405	$2,567 to $5,147	36.9% to 39.0%	$420,000 Per Policy Year	$20,000 Customer Pays 30% First
Notes: 1. For instance, if Bowtie VHIS - Flexible Plan - Basic Plan is paired with Cancer Fighter 100, the expected average coverage will increase to 92.2%. Cancer Fighter 100 is not a certified product under VHIS and is not eligible for any tax deductions. 2. The above expected average coverage is calculated based on medical expenses for 12 common illness cases of varying severity and medical services under general circumstances, compared by 10Life actuaries against the compensation limits of medical insurance products. For details, refer to 《Medical Insurance Scoring Methodology》. 3. The above information is updated as of 18 February 2022, for reference only and does not constitute a sales proposal.

Among the 10 products, the top-ranked is FWD 易衛您醫療計劃（標準）, with an expected average coverage rate of 100%. Unlike other products, its compensation limit is calculated per disability per policy year (see note 2), offering better protection for cases involving multiple illnesses within a year or illnesses spanning across policy years. The remaining 9 flexible plans have expected average coverage rates ranging from 59.7% to 78.8%, all exceeding the minimum requirements of the standard plan, with some products offering supplementary medical coverage (see note 3).

For males aged 35 to 44, the average annual premiums for the above 10 products range from HKD 3,372 to HKD 5,497. In comparison, the VHIS Standard Plan premiums range from HKD 2,084 to HKD 4,405, with an expected average coverage rate of only 36.9% to 39.0%. Clearly, the plans listed in Table 1 are more advantageous.

This shows that coverage and premiums are not always directly proportional, and consumers should compare carefully. Many plans also offer first-year premium discounts from time to time. You can visit the 《Product Decoder》 on the 10Life website for more information.

Significant Differences in Coverage for Major Illnesses: Out-of-Pocket Costs for Liver Cancer Vary by Over HKD 190,000

Of course, some may still find the above VHIS plans expensive. However, when considering the costs of minor and major illnesses, the price for better medical coverage might not seem particularly high.

Table 2: Comparison of Expected Coverage Rates for VHIS Plans at Standard Ward Level with No Deductible and Average Annual Premiums Below HKD 6,000
(Assuming the insured is a 35-year-old non-smoker)

Standard Ward Plan	Coverage for Specified Illnesses
	Colonoscopy (Day Treatment) $18,100		Haemorrhoidectomy $45,600		Angioplasty with Stent Placement $217,813		Severe Cancer - Liver Cancer $482,700
	Expected Coverage Rate	Expected Out-of-Pocket Cost	Expected Coverage Rate	Expected Out-of-Pocket Cost	Expected Coverage Rate	Expected Out-of-Pocket Cost	Expected Coverage Rate	Expected Out-of-Pocket Cost
FWD \| FWD 易衛您醫療計劃（標準）	100%	$0	100%	$0	100%	$0	100%	$0
FWD \| FWD 更衛您（優越版）醫療計劃	96.6%	$624	97.6%	$1,093	73.8%	$57,093	89.0%	$53,220
Cigna Healthcare \| Cigna 信諾自願醫保系列－靈活計劃（附加保障）	100%	$0	99.2%	$375	93.1%	$14,936	80.8%	$92,670
Fubon Life \| FTLife 「摯康保」醫療保障計劃 (Coverage Level 1, Including Supplementary Medical Coverage)	97.1%	$525	97.2%	$1,263	75.1%	$54,213	95.2%	$23,270
Zurich \| Zurich 「智選無憂」自願醫療保障計劃 -Selected with Supplementary Medical Coverage	95.1%	$888	95.5%	$2,050	84.2%	$34,443	68.5%	$151,950
Bowtie \| Bowtie 保泰自願醫保 - 靈活計劃 - 基本計劃	100%	$0	100%	$0	81.3%	$40,823	60.0%	$193,270
Asia Insurance \| Asia Insurance 亞洲緻安心 – 計劃2	97.0%	$550	90.0%	$4,550	35.9%	$139,573	76.7%	$112,310
YF Life \| YF Life 「稅」安心醫療計劃（計劃1M）	97.6%	$440	96.4%	$1,640	86.8%	$28,803	61.0%	$188,230
Liberty Insurance \| Liberty Insurance 利寶國際自願醫保系列– 靈活計劃（Basic Including Supplementary Medical Coverage）	97.0%	$550	97.4%	$1,190	75.7%	$52,993	68.9%	$150,150
Sun Life \| Sun Life 永明港稱心醫療保計劃2	93.7%	$1,140	95.4%	$2,090	84.6%	$33,553	59.3%	$196,350
Voluntary Health Insurance Standard Plan	78.2%	$3,940	79.8%	$9,190	24.4%	$164,743	41.3%	$283,150
Notes: 1. The above expected medical expenses are calculated based on general circumstances for the respective illnesses, used to estimate the coverage rate of medical insurance and the consumer's expected out-of-pocket costs, for reference only. Users should not consider these as actual medical expenses. The severity of each illness case, required treatment, and the insurer's claim assessment may vary, all of which affect the actual compensation amount for the insured. For details, refer to 《Medical Insurance Scoring Methodology 》. 2. The above information is provided by 10Life, updated as of 18 February 2022, for reference only and does not constitute a sales proposal.

For minor illnesses with long waiting times at public hospitals, such as colonoscopy (day treatment) and haemorrhoidectomy, many VHIS plans offer expected coverage rates exceeding 95%. Even the most basic standard plan provides nearly 80% expected coverage for such minor illnesses, allowing insured individuals to receive faster and more comfortable treatment at private medical facilities through VHIS.

For major illnesses, the coverage rates of the above products vary significantly. Some VHIS plans offer high coverage for the aforementioned conditions with no out-of-pocket costs, while for other VHIS plans, insured individuals may need to pay out-of-pocket costs of at least tens of thousands of HKD.

Self-Paid Items at Public Hospitals: VHIS Plays a Role

For those with limited financial resources who may not dare to seek treatment for major illnesses at private hospitals and prefer to queue at public hospitals, VHIS can still play a partial role by covering the costs of self-paid items at public hospitals.

For example, if a citizen undergoes angioplasty at a public hospital, the cost of stents placed during the procedure (e.g., approximately HKD 80,000 for two stents) is a self-paid item. The insured can claim this cost under VHIS, as stent expenses fall under "miscellaneous expenses" and "supplementary medical coverage". Many of the affordable VHIS products mentioned above also include supplementary medical coverage.

As for treating severe cancer at public hospitals, most targeted and immunotherapy drugs are currently self-paid. For most of the VHIS products mentioned above, the compensation limit for non-surgical cancer treatment is HKD 80,000 per policy year, which can only cover a small portion of the expenses. Therefore, citizens should also actively prevent cancer by maintaining healthy lifestyle habits, undergoing regular screenings, and seeking medical attention promptly when ill.

This article focuses solely on affordable products. However, if you have a larger budget, there are indeed products in the market with higher coverage. Readers should understand their personal needs, strike a balance between budget and coverage, and carefully compare products.

Notes:

The above expected average coverage is calculated based on medical expenses for 12 common illness cases of varying severity and medical services under general circumstances, compared by 10Life actuaries against the compensation limits of medical products. For details, refer to 《Medical Insurance Scoring Methodology》.
For each hospitalisation or day surgery related to the same illness, the applicable coverage limit and/or total coverage per illness per policy year will be recalculated, provided that the hospitalisation or day surgery does not occur within a continuous 90-day period from the last date of the previous hospitalisation or day surgery for the same illness. When the insured is hospitalised or undergoes any day surgery for more than one illness, all different illnesses involved in the same hospitalisation or day surgery will be subject to one applicable coverage limit and/or total coverage per illness per policy year.
Supplementary Major Medical (SMM) coverage has two points to note: First, some products' SMM may not cover "non-surgical cancer treatment" limits. In other words, SMM does not assist with medical expenses exceeding sub-item limits for non-surgical cancer treatments such as chemotherapy or targeted therapy. Second, the compensation limits for SMM vary across plans, and SMM involves co-insurance, where customers generally share a portion of the expenses exceeding sub-item limits with the insurer (usually 20%).
This article is compiled by 10Life from market data collected through various channels, for general reference only, and does not consider any individual needs or suitability, nor should it be regarded as a sales recommendation. Before purchasing insurance, individuals should consult with a licensed insurance advisor to discuss suitable insurance plans and rely on information provided by the insurance company.
The above premium information is updated as of 18 February 2022 and does not include the premium levy collected by the Insurance Authority.
This article was last updated on 18 February 2022.

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.

Last updated: 9 Apr 2026

10Life Editorial Team

Our team of professional content researchers focussing on insurance

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10Life Editorial Team

Our team of professional content researchers focussing on insurance

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10Life Product Comparison and 10Life Insurance Ratings are developed by 10Life Financial Limited, an authorised insurance broker company licensed with the Insurance Authority under License Number FB1526. 10Life Product Comparison and 10Life Insurance Ratings are developed for generic customer segments using mathematical calculations based on product information, facts and data, and are not influenced by any partnerships with or fees received from insurance companies. Any information on 10Life Platform ("10Life Information"), including but not limited to Product Comparison, Product Ratings, Blog Articles are intended for general education purpose and reference only. None of the 10Life Information is intended, nor should they be considered or relied upon, as regulated advice, insurance, financial, investment or professional advice, recommendation, approval, endorsement, invitation or solicitation in respect of any insurance, financial or investment products. 10Life Information does not take into account your individual needs. Reading 10Life Information should not be considered as conducting a suitability assessment, and is not sufficient to form the basis of any decisions to purchase any insurance products. You should rely on information authorised by insurance companies, carry out your own research and/or seek independent advice from licensed intermediaries before purchasing any insurance products or making any insurance decisions. While reasonable effort is used when collecting, validating and updating 10Life Information from various channels, none of 10Life Group and its subsidiaries, affiliates, agents, directors, officers and employees will be responsible for any liability, claim or loss arising from or associated with you using 10Life Information. No warranty, representation or guarantee is given by 10Life Group and its subsidiaries on the accuracy, completeness and timeliness of the information. If you have any questions on 10Life Product Comparison and 10Life Insurance Ratings, please email us at enquiries@10life.com

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