[Employee-friendly cover] Market-unique¹ portable cancer cover with continued support after leaving work or retirement

Today’s office workers lead busy lives, and coupled with various unhealthy lifestyle habits, the risk of developing a serious illness can increase at any time. According to statistics, cancer is not only Hong Kong’s leading killer, but also shows a trend towards younger patients. Between 2011 and 2021, the number of new cancer cases among patients aged 20 to 44 increased by 17%², and the threat is steadily drawing closer.

Fighting cancer is a difficult and lengthy process, with patients having to face substantial medical expenses, which may further intensify both physical and mental stress. Generally speaking, employers are less likely to provide employees with critical illness protection, and standard group insurance may not necessarily offer sufficient medical coverage. If an employee is diagnosed with cancer, it may become an “unbearable burden”.

In fact, employees can enhance their cancer protection through suitable products. Recently, a unique insurance product has entered the market, specifically designed to proactively fill this protection gap for employees. 

To meet employees’ need for cancer protection, AIA Hong Kong has launched the 「友愛護」癌症保障計劃, designed specifically for employee members⁴ of AIA Group Insurance Plans and/or the AIA Mandatory Provident Fund Scheme, Occupational Retirement Scheme, and Macau Pension Scheme³. This is a market-exclusive¹ portable cancer⁵ protection plan, meaning employee members remain covered even if they leave their job or retire, ensuring continuous protection for their health.

Whether you are a fresh graduate starting your career or an employee in the prime of life, there is always a chance of changing jobs. Those approaching retirement may be even more vulnerable to losing their company medical cover and, with it, their safety net. The portable nature of the 「友愛護」癌症保障計劃 gives employee members seamless protection up to the age of 80, truly making cancer protection stay with the person. 

One of the other merits of the product is that it is relatively easy to apply for. Generally speaking, when taking out other medical and critical illness insurance, insured persons may be required to submit detailed medical examination reports, which can be troublesome and deter many people from applying. By contrast, application for the 「友愛護」癌症保障計劃 is relatively straightforward; eligible employee members only need to make a simple health declaration to apply, with no medical examination or health proof required, helping everyone plan ahead with peace of mind.

Should the insured person unfortunately be diagnosed with cancer, this plan will pay a lump-sum benefit of up to 100% of the sum insured⁶ to provide immediate financial support and ease urgent needs, helping to cover rehabilitation and living expenses. If the insured person unfortunately passes away and no cancer benefit has ever been paid under the policy, the plan will also pay a death compassionate allowance of HK$10,000/MOP⁷, providing additional support for the insured person’s loved ones.

This plan offers different sum insured options, namely three plans of HK$100,000/MOP⁷, HK$200,000/MOP⁷ and HK$300,000/MOP⁷, catering to the financial arrangements of different employees. The premium is affordable. Assuming a 35-year-old non-smoking male applies for the 「友愛護」癌症保障計劃 with a sum insured of HK$100,000, the first-year premium is HK$428, equivalent to as little as about HK$1.2 per day. In addition, the premium remains unchanged during each 5-year coverage period⁸, and renewal is guaranteed up to age 80, offering even greater peace of mind after retirement. 

1. “Market-unique” refers to the unique feature of the “AIA Care” Cancer Protection Plan as it provides portable cancer cover for employee members under group insurance plans and/or retirement schemes in Hong Kong. Even if an employee member (as the insured person) leaves employment or retires, the plan will continue to provide cancer cover for the employee member. Based on a comparison with critical illness insurance products offered by major insurance companies in Hong Kong as at April 2024, this plan is market-unique.
2. Overview of Cancer Statistics in Hong Kong, Hong Kong Cancer Registry, comparison of the number of all-site new cases by year and age group of 20 to 44 from 2011 to 2021 (https://www3.ha.org.hk/cancereg/tc/ allages.asp)
3. The AIA Mandatory Provident Fund Scheme and the AIA Occupational Retirement Scheme are applicable to Hong Kong only. The AIA Macao Retirement Scheme is applicable to Macau only.
4. For eligibility and application period, please refer to the product leaflet of the relevant product.
5. Cover for “cancer” does not include early-stage thyroid tumour (TNM stage T1N0M0 or below); early-stage prostate tumour (TNM stage T1a or T1b or below); early-stage chronic lymphocytic leukaemia classified as RAI stage III or below; non-melanoma skin cancer; any cancer occurring concurrently with infection by the human immunodeficiency virus (HIV); and any pre-cancerous condition, non-invasive cancer or carcinoma in situ. For the definition of cancer, please refer to the policy contract.
6. The cancer benefit will depend on the policy year in which the insured person is diagnosed with cancer. If the insured person is diagnosed with cancer in the 1st policy year, 100% of the total basic premiums paid will be payable. If the insured person is diagnosed with cancer in the 2nd policy year, 105% of the total basic premiums paid will be payable. If the insured person is diagnosed with cancer in the 3rd and 4th policy years, 50% and 75% of the sum insured will be payable respectively. If the insured person is diagnosed with cancer in the 5th policy year and thereafter, 100% of the sum insured will be payable. “Total basic premiums paid” means the total amount of basic policy premiums due and paid from the policy date up to and including the end of the relevant policy year, which have been received by the Company. “Total basic premiums paid” excludes any prepaid premium or overpayment.
7. MOP is only applicable to policies issued in Macau.
8. The renewal premium for the next renewal period will be determined according to the applicable premium rate in force at the insured person’s age at the time of renewal (for details, please refer to the “Premium Adjustment” section in the Important Information of the product leaflet).
9. Employee member application guide: eligible members must submit their applications within the following periods: for employee members under AIA group insurance plans, within 60 days from the effective date of coverage under the AIA group insurance plan; within 30 days before or after the relevant coverage termination date (including the termination date itself); or within 60 days from the policy anniversary date of the relevant plan. For employee members under the AIA Mandatory Provident Fund Scheme, Occupational Retirement Scheme and Macau Retirement Scheme, within 60 days from the effective date of participation in the relevant scheme; within 30 days before or after the date of cessation of participation in the relevant scheme (including the termination date itself); or from 1 April to 30 June of each calendar year (both dates inclusive); or during the special application period of the “AIA Care” Cancer Protection Plan.

The product information in this document does not contain the full terms and conditions of the policy. For full details of the product features, terms and conditions, exclusions and key product risks, please refer to the product leaflet and policy contract of the relevant product. If you would like to review a sample insurance contract before taking out cover, applicants may request one from AIA. Customers should choose products that suit their needs and affordability. 

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.