Table of Content

Term Cancer Insurance Scoring Methodology

Term Cancer Insurance Scoring Methodology

Evaluation by professional actuaries to help you identify term cancer insurance with good coverage
Iris Lun
10Life Co-founder and Chief Actuary
1. Overview

Term Cancer Score

Based on the coverage and terms under cancer.

2. Assumptions

  • Male or female life insured age 25/30/35/40/45, non-smoker
  • Sum assured HKD 1,000,000 / HKD 500,000
  • 10 years coverage period

 

3. Cancer Coverage Score

The Cancer Coverage Score is calculated based on the scope and definition of cancer coverage, where points are deducted for the following unfavourable terms relative to the market:

  • Vague exclusion on Cancer - “Non-life threatening cancers”
  • Exclusion on any top 10 common cancers1 (including colorectum cancer, lung cancer, breast cancer, prostate cancer, liver cancer, stomach cancer, non-melanoma skin cancer, corpus uteri cancer, non-hodgkin lymphoma cancer and thyroid cancer)
  • Exclusion/ low coverage on carcinoma-in-situ (CIS)
  • Deduction from major payout after CIS payout
  • Do not have continuous cancer treatment benefit
  • Any survival period is required after diagnosis

 

Note:  
1. Top 10 Cancer (Hong Kong) (Link)

 

Updated on June 17, 2021 

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