VHIS Full Coverage plans getting better with Annual Limits reaching record highs (Chinese Article)
政府去年推出自願醫保,為標準計劃設定劃一的條款,增加市場透明度。但自願醫保標準計劃只是醫保的最低要求 ... >>
10.0/10 | 100.0% | 6 | $10,485 | $12,104 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
10.0/10 | 100.0% | 6 | $18,225 | $21,038 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
10.0/10 | 100.0% | 6 | $40,308 | $46,527 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
10.0/10 | 100.0% | 3 | $8,324 | $9,597 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
% For details, please refer to the promotional webpage from the insurance company or the terms and conditions related to AXA WiseGuard Pro Medical Insurance Plan stated in this webpage. ^ Full cover shall mean the actual amount of eligible expenses and other expenses charged after deducting the remaining deductible (if any), and is subject to the annual benefit limit, lifetime benefit limit and other conditions as stated in the product brochure and the policy contract. Psychiatric treatments and medical implants are excluded from full cover benefit. Further details of the terms, conditions, exclusions and limitations are provided in the policy contract. ⁺ Full cover of prescribed non-surgical cancer treatments and outpatient kidney dialysis are subject to the annual benefit limit, lifetime benefit limit, deductible (if any) and other conditions as stated in the product brochure and the policy contract. Further details of the terms, conditions, exclusions and limitations are provided in the policy contract. * If after a no claim discount has been deducted, a claim incurred in respect of previous 5 policy years is paid under AXA WiseGuard Pro Medical Insurance Plan, the no claim discount shall be re-calculated by taking into account the relevant claim paid, and the policy holder shall return to the Company the difference between the recalculated amount and the no claim discount actually paid to the policy holder immediately upon the Company’s reasonable request. For the avoidance of doubt, if a claim was incurred but no benefit was paid by reason of the deductible, the policy year concerned will still not be counted in the claim-free period. For details, please refer to the policy contract. ~ The (a) medical service providers providing the second medical opinion and (b) network doctors and network healthcare facilities providing medical services, are, respectively, independent contractors and are not agents or servants of AXA. AXA shall (i) not be held responsible for or liable to the policy holder or any of the insured person for anything in relation to such medical opinion given by the medical service providers and hospitals; and (ii) not have any obligation or liability whatsoever in relation to the medical services provided by the network doctors and the network healthcare facilities, and shall not be responsible for or liable to any act or failure to act on the part of the network doctors and network healthcare facilities. AXA reserves the right to amend the terms and conditions thereof from time to time without prior notice. > Please refer to the policy holder guide map for details of the additional services and procedure, which will be provided to you together with the policy contract after your policy takes effect. Please note that the terms of the services and procedures in relation to these additional services can be amended by AXA from time to time without prior notice.
Batch of Premium Refund | Premium Refund on Each Eligible Basic Plan / Eligible Supplement of Reward 1C | Release Schedule for Premium Refund |
1st batch
|
1st month
|
By 30 April 2023
|
2nd batch
|
2nd month
|
By 30 April 2024
|
3rd batch
|
3rd month
|
By 30 April 2025 |
10.0/10 | 100.0% | 1 | $9,631 | $11,040 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
Relevant Information
10.0/10 | 99.7% | 3 | $9,172$7,338# | $10,784 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
* Full coverage shall mean the actual amount of Eligible Expenses and other expenses charged and payable in accordance to the Terms and Benefits of this policy.
† Pre-existing condition(s) shall mean, in respect of the insured person, any sickness, disease, injury, physical, mental or medical condition or physiological degradation, including congenital condition, that has existed prior to the policy issuance date or the policy effective date, whichever is earlier. Unknown pre-existing condition(s) refers to any pre-existing condition(s) that the policy holder and/or insured person was not aware and would not reasonably have been aware of at the time of application. Application is subject to HSBC Life. Please refer to the policy provisions for the full terms and conditions.
** Pre-authorization is required for cashless arrangements. The final decision of the pre-authorisation application or direct billing approval is subject to the discretion of the HSBC Life.
##Tax deduction eligibility is only applicable to policyholders or his/her spouse who are Hong Kong taxpayers. Tax deduction for the qualifying premiums paid under VHIS policy (not including levy) will be based on the premiums paid after deducting the premium discount (if any). For more information, please refer to www.ird.gov.hk
Apply online with promo code ’20FLEX' to enjoy 20% off your first year premium and an additional 10% off when you apply with your family members. Terms and conditions apply to promotions listed above. Please refer to https://www.hsbc.com.hk/vhis-flexi for details.
Relevant information
* Terms and conditions apply. Please refer to the product brochure and product provision on HSBC website for details.
# Premium is calculated after 20% discount on first year premium.
10.0/10 | 100.0% | 3 | $5,113$2,983# | $5,401 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
Only applicable for successful application falling within the period from 1 Jan 2022 to 30 Jun 2022 (both dates inclusive) and policies must be issued on or before 31 Jul 2022. # Premium is calculated after 5-month premium discount for the first year premium.
9.9/10 | 99.1% | 3 | $6,731 | $7,349 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
9.7/10 | 97.0% | 3 | $9,156 | $10,557 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
9.3/10 | 92.8% | 0 | $3,588$2,691# | $4,429 | |
Medical Coverage Score Medical Coverage Score is the estimated average coverage ratio of selected hospitalisation cases with different severity levels and required medical services. Details | Average Coverage Based on the estimated coverage of 12 common cases, 10Life calculated the weighted average based on the estimated medical expense incurred in each case, which is the estimated average coverage of a medical insurance product. Details | Medical Inflation Protection Medical Inflation Protection means
| Number of Additional Features Based on the coverage of 8 selected additional features. Details | First Year Premium Age 35 male | Avg. Premium Average premium for male age 35 to 44 |
% For details, please refer to the promotional webpage from the insurance company or the terms and conditions related to AXA WiseGuard Pro Medical Insurance Plan stated in this webpage. ^ Full cover shall mean the actual amount of eligible expenses and other expenses charged after deducting the remaining deductible (if any), and is subject to the annual benefit limit, lifetime benefit limit and other conditions as stated in the product brochure and the policy contract. Psychiatric treatments and medical implants are excluded from full cover benefit. Further details of the terms, conditions, exclusions and limitations are provided in the policy contract. ⁺ Full cover of prescribed non-surgical cancer treatments and outpatient kidney dialysis are subject to the annual benefit limit, lifetime benefit limit, deductible (if any) and other conditions as stated in the product brochure and the policy contract. Further details of the terms, conditions, exclusions and limitations are provided in the policy contract. * If after a no claim discount has been deducted, a claim incurred in respect of previous 5 policy years is paid under AXA WiseGuard Pro Medical Insurance Plan, the no claim discount shall be re-calculated by taking into account the relevant claim paid, and the policy holder shall return to the Company the difference between the recalculated amount and the no claim discount actually paid to the policy holder immediately upon the Company’s reasonable request. For the avoidance of doubt, if a claim was incurred but no benefit was paid by reason of the deductible, the policy year concerned will still not be counted in the claim-free period. For details, please refer to the policy contract. ~ The (a) medical service providers providing the second medical opinion and (b) network doctors and network healthcare facilities providing medical services, are, respectively, independent contractors and are not agents or servants of AXA. AXA shall (i) not be held responsible for or liable to the policy holder or any of the insured person for anything in relation to such medical opinion given by the medical service providers and hospitals; and (ii) not have any obligation or liability whatsoever in relation to the medical services provided by the network doctors and the network healthcare facilities, and shall not be responsible for or liable to any act or failure to act on the part of the network doctors and network healthcare facilities. AXA reserves the right to amend the terms and conditions thereof from time to time without prior notice. > Please refer to the policy holder guide map for details of the additional services and procedure, which will be provided to you together with the policy contract after your policy takes effect. Please note that the terms of the services and procedures in relation to these additional services can be amended by AXA from time to time without prior notice.
Batch of Premium Refund | Premium Refund on Each Eligible Basic Plan / Eligible Supplement of Reward 1C | Release Schedule for Premium Refund |
1st batch
|
1st month
|
By 30 April 2023
|
2nd batch
|
2nd month
|
By 30 April 2024
|
3rd batch
|
3rd month
|
By 30 April 2025 |
Relevant Information
* Full coverage shall mean the actual amount of Eligible Expenses and other expenses charged and payable in accordance to the Terms and Benefits of this policy.
† Pre-existing condition(s) shall mean, in respect of the insured person, any sickness, disease, injury, physical, mental or medical condition or physiological degradation, including congenital condition, that has existed prior to the policy issuance date or the policy effective date, whichever is earlier. Unknown pre-existing condition(s) refers to any pre-existing condition(s) that the policy holder and/or insured person was not aware and would not reasonably have been aware of at the time of application. Application is subject to HSBC Life. Please refer to the policy provisions for the full terms and conditions.
** Pre-authorization is required for cashless arrangements. The final decision of the pre-authorisation application or direct billing approval is subject to the discretion of the HSBC Life.
##Tax deduction eligibility is only applicable to policyholders or his/her spouse who are Hong Kong taxpayers. Tax deduction for the qualifying premiums paid under VHIS policy (not including levy) will be based on the premiums paid after deducting the premium discount (if any). For more information, please refer to www.ird.gov.hk
Apply online with promo code ’20FLEX' to enjoy 20% off your first year premium and an additional 10% off when you apply with your family members. Terms and conditions apply to promotions listed above. Please refer to https://www.hsbc.com.hk/vhis-flexi for details.
Relevant information
* Terms and conditions apply. Please refer to the product brochure and product provision on HSBC website for details.
# Premium is calculated after 20% discount on first year premium.
Only applicable for successful application falling within the period from 1 Jan 2022 to 30 Jun 2022 (both dates inclusive) and policies must be issued on or before 31 Jul 2022. # Premium is calculated after 5-month premium discount for the first year premium.
While both is often categorised under “health insurance”, they are very different in nature.
Medical insurance is also known as hospitalisation insurance. The main purpose is to cover the medical expenses if the insured is hospitalised, with some products also covering specific outpatient treatments. Claims are on an expense reimbursement basis, on the condition that the expense is “Medical Necessary”.
Critical illness insurance covers the insured against specified diseases. A lump sum benefit is paid if the insured is diagnosed with a specified disease that matches the definition in the policy provisions. In general, insurance companies do not limit the usage of the benefit payment.
Traditional medical insurance defines coverage limits item by item, e.g. room and board, surgeon fee, miscellaneous fee, etc… If the medical expense on particular item exceeds the limit, one may recover the excess from Supplementary Major Medical (if available, and after any co-payment), and any further excess needs to be paid out-of-pocket by the insured.
“Full Coverage” medical insurance generally does not limit the coverage amount in a single item. The medical expense can be covered as long as it does not exceed the per policy year, per disability or lifetime limit. However, the relevant medical expense needs to be “Medical Necessary” and “Reasonable and Customary”.
Remarks:
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