Scoring Methodology of Personal Accident Insurance

Scoring Methodology of Personal Accident Insurance


10Life actuaries have compared over a dozen personal accident insurance products in the Hong Kong market, analysing their value from multiple dimensions including death/disability payout, medical expense cover, physiotherapy /bone-setting cover, hospital cash cover and extreme sports coverage. Below are the rating items:

  • Death/ Disability Benefit Multiplier :
    Compare death/ maximum disability payout as multiple of annual premium
  • Medical Reimbursement Multiplier :
    Compare maximum medical reimbursement payout as multiple of annual premium
  • Physiotherapy/Bone-setting cover :
    Compare the coverage ratio assuming the insured requires the following treatment per accident: i) 5 physiotherapy sessions of HK$600 each; or ii) 5 Chinese bone-setting sessions of HK$350 each
  • Hospital Cash Multiplier :
    Compare daily hospital cash payout (assume for 7 days) as multiple of annual premium
  • Extreme Sports Coverage :
    Score based on whether these common adventurous sports are covered - skiing, scuba diving, parachuting, rock climbing and non-professional bicycle race
The scores are based on the following assumptions:

  • Products with sum assured/ accidental death benefit of HKD 1,000,000 (or nearest) are selected
  • Products with accidental medical expense coverage of HKD 40,000 (or nearest) are selected
  • The occupation of the policyholder is indoor and non-hazardous in nature 

Remarks:

  1. The information on 10Life is intended for general education purpose and reference only, and does not constitute any insurance, financial, investment or other professional purchase advice or solicitation to buy insurance, financial or investment products. 10Life Product Ratings and Scores are mathematical calculations based on public product information and assumptions for generic customer segments. The Product Ratings and Scores DO NOT reflect YOUR personal needs. 10Life hereby excludes any liability arising from using the information and will not make warranty or guarantee on the accuracy, completeness and timeliness of the information or for any claims and / or losses caused thereby. You should seek independent professional advice and review the insurance product information carefully before purchasing any insurance products. The information shown in the communications placed on 10Life does not constitute an offer or solicitation for the purchase or sale of any banking or insurance products or services.
  2. 10Life Insurance Product Ratings are based on facts and data, and are not be influenced by any partnerships with insurance companies.

Updated on 29 Jun 2021
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