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Looking for critical illness cover at an affordable price?
Ideal for breadwinners, with compensation doubling over time
Make the most of add-on cover to customise your personal protection plan
Thoughtful value-added services: “Medical Assurance” and “Smart Planning”
Insure with your family and enjoy 50% cashback on your first-year premium.
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For every $1 of premium, enjoy up to $100 in critical illness cover, plus tailor-made additional cover.
Critical illness products on the market generally bundle different types of cover together, leaving consumers unable to choose their desired cover freely. However, Prudential has recently launched a new product, EasyWell Critical Illness Protector. In addition to providing up to $100 in cover for every $1 of premium paid (Note 1) and lifetime protection against 56 critical illnesses, it also allows policyholders to add supplementary cover at affordable prices, including enhanced coverage for Stage 3 or Stage 4 cancer and multiple claims for three major critical illnesses (cancer, heart attack and stroke), making it easy to meet different protection needs at various stages of life.
Looking for critical illness cover at an affordable price?
Critical illness has been affecting younger people in recent years. According to data from the Hospital Authority, the incidence of cancer among Hong Kong people aged 20 to 44 increased by 14% between 2010 and 2019 (Note 2). In addition, overseas studies have shown that heart attacks are becoming increasingly common among people under 40 (Note 3), while the incidence of strokes among those aged 25 to 44 surged by nearly 44% over a 10-year period (Note 4).
Having become aware of the risks of critical illness, consumers hope not only to obtain protection, but also to find critical illness insurance that offers excellent value for money. EasyWell Critical Illness Protector provides highly cost-effective protection. For every HK$1 of premium paid, policyholders can enjoy up to HK$100 of critical illness cover (Note 1), which covers 56 serious conditions, including common illnesses such as cancer, heart attacks and strokes, providing lifelong protection for the insured’s health.
EasyWell Critical Illness Protector combines protection with long-term savings. If the insured is unfortunately diagnosed with any one of the covered serious conditions, a lump-sum cash benefit equal to 100% of the sum assured at that time will be payable. If the insured has reached the fifth policy year or beyond, a one-off non-guaranteed terminal bonus may also be payable.
Ideal for breadwinners, with compensation doubling over time
Take Kelvin, an accountant, as an example. He is a 40-year-old professional (age next birthday) and the family's breadwinner. Having noticed that critical illnesses are becoming increasingly common, Kelvin took out EasyWell Critical Illness Protector, paying an annual premium of US$1,897 until age 66 (age next birthday), when the sum assured was US$100,000.
If he were unfortunately diagnosed with a critical illness at age 66 (age next birthday), the expected payout would be US$143,493, approximately 2.9 times the total premiums paid. If he were diagnosed with a critical illness at age 86 (age next birthday), the expected payout would be US$260,600, or 5.3 times the total premiums paid, providing financial protection for both himself and his family.
In addition, to address the rising cost of living, EasyWell Critical Illness Protector offers an Increasing Benefit Option to help insured persons cope with the eroding effects of inflation. By paying an additional premium, the policy's initial sum assured can automatically increase by 5% each year, up to 200% of the initial sum assured.
Make the most of add-on cover to customise your personal protection plan
As mentioned at the beginning of the article, policyholders of critical illness insurance products on the market are unable to choose the coverage items themselves, which may be considered somewhat inflexible. EasyWell Critical Illness Protector, however, adopts a flexible design that allows policyholders to tailor a protection plan that best suits their individual needs. Optional benefits include:
“Health Flex” Severe Cancer Cover: The five-year relative survival rates for patients with stage 3 colorectal and breast cancer are below 80% (Note 5), while nearly 40% of cervical cancer patients are already at an advanced stage when diagnosed (Note 6). Treatment costs for severe cancer are relatively high. As the first-of-its-kind product in the market, “Health Flex” Severe Cancer Cover can enhance protection by providing a lump-sum payout equivalent to 100% of the sum assured, helping the insured cope with the financial pressure brought about by stage 3 or stage 4 cancer.
“Health Flex” Multi-claim Critical Illness Cover: Cancer, heart attack and stroke (the three major critical illnesses) carry a risk of recurrence. “Health Flex” Multi-claim Critical Illness Cover provides multiple-claim protection for the three major critical illnesses, with total benefits of up to 400% of the sum assured (Note 7).
The two “Health Flex” optional benefits mentioned above are guaranteed renewable annually (Note 8) until age 86 (age next birthday). In addition, policyholders may choose from a range of other optional benefits, including life, critical illness, medical expenses, disability and accident cover, to further enhance their protection.
Thoughtful value-added services: “Medical Assurance” and “Smart Planning”
Many patients wish to obtain a second medical opinion to help them make the most appropriate treatment decisions. Whether or not the condition is covered, as long as it is non-emergency, Care Support (Note 9) can provide personalised second medical opinions from over 50,000 international medical experts across more than 450 medical specialities.
Through Care Support (Note 9), policyholders can also enjoy overseas medical concierge services, including assistance with arranging specialist doctors for overseas treatment, appointments, medical interpretation and post-treatment rehabilitation advice. In addition, policyholders will be assigned a dedicated case doctor who speaks the same language to answer their questions and accompany them every step of the way throughout their recovery.
When a policyholder unfortunately becomes seriously ill or loses mental capacity, their family must apply to the court for a guardianship order or appoint an authorised representative before they can apply for and receive a claim payment. The process is complicated and time-consuming. By using Smart Appoint, policyholders can pre-arrange policy services and appoint a designated family member in advance to handle claims on their behalf, helping to resolve urgent matters.
Insure with your family and enjoy 50% cashback on your first-year premium.
Critical illnesses are increasingly affecting younger people, so the earlier you take out cover to protect yourself and your loved ones, the better. Prudential is currently offering a limited-time promotion. From now until 27 June 2022, any 2 or more family members who successfully take out EasyWell Critical Illness Protector together can enjoy a 50% first-year premium rebate (Note 10). Please refer to the company website for details. The promotion is subject to the relevant terms and conditions.
Notes:
- Assuming the insured is a 31-year-old male (age next birthday), a non-smoker, with a sum assured of US$75,000, and chooses to pay premiums until age 86 (age next birthday), the coverage multiple is calculated based on the sum assured and first-year premium.
- Hong Kong Cancer Registry, Hospital Authority, The Government of the Hong Kong Special Administrative Region.
- American College of Cardiology, 「Heart attacks increasingly common in young adults」.
- Journal of the American Heart Association, 「Rising Stroke Incidence in Young Adults: More Epidemiological Evidence, More Questions to Be Answered」.
- Hong Kong Cancer Registry, Hospital Authority, The Government of the Hong Kong Special Administrative Region, Hong Kong Cancer Statistics Overview 2018.
- Hong Kong Cancer Registry, Hospital Authority, The Government of the Hong Kong Special Administrative Region, Report on the Survival Rates by Stage of Gynaecological Cancers in Hong Kong.
- Waiting period for multiple claims: at least 1 year must elapse between any 2 diagnoses; however, if both diagnoses are cancer-related, at least 3 years must elapse between the relevant diagnoses. The insured may make a cancer claim under the 「Wellness」 Multiple Critical Illness Cover for a newly diagnosed cancer or the continuation of an existing cancer, including recurrence, metastasis or persistent cancer.
- Prudential will adjust the insured's premium annually until the policy ends.
- Peace of Mind Medical Service does not form part of this plan. Peace of Mind Medical Service is provided by a third-party service provider designated by Prudential. Prudential may, at its sole discretion, revise the scope of its services and service providers from time to time without prior notice, and may terminate and/or suspend the provision of the services.
- The 50% premium rebate applies when any 2 or more designated family members jointly take out EasyWell Critical Illness Protector or other designated insurance plans. Designated family members include the referrer's spouse, children, parents, siblings, parents-in-law, children-in-law, grandparents and grandchildren, nephews / nieces, aunts / uncles, cousins, fiancé/fiancée, stepfather/stepmother and stepchildren. Please refer to the promotion terms and conditions for details.
- The information in this article is provided by Prudential for general reference only. It does not take into account any individual's needs or suitability and should not be regarded as sales advice. Before taking out a policy, you should discuss an insurance plan suitable for you with a licensed insurance adviser and refer to the information provided by the insurance company.
- The above premium information was updated on 13 April 2022 and does not include the premium levy charged by the Insurance Authority.
- Last updated: 13 April 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.
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