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 ... >>
Up to 6-month premium discount
Customers may enjoy a 5-month Premium Discount with annual premium payment mode within the promotion period.
If customer apply FWD designated VHIS Plans for your specified relative(s) at the same time, each eligible policy will be entitled to an extra 1-month premium discount in the 1st policy year.
Only applicable for successful application from 12 October 2020 to 30 November 2020 and policies must be issued on or before 31 December 2020.
# Premium is calculated after 5-month premium discount for the first year premium.
Relevant information
* Terms and conditions apply. Please refer to the promotional flyer, product leaflet and policy provisions for details. **vCANsurance Medical Plan is underwritten by FWD Life Insurance Company (Bermuda) Limited, a company incorporated in Bermuda with limited liability (“FWD”).
* Full coverage shall mean the actual amount of eligible expenses and other expenses charged and payable subject to annual benefit limit, lifetime benefit limit, and other related conditions. The claim must be medically necessary and the cost must also be reasonable.
Offer 1: Earn up to an extra $3,000 RewardCash! Pay new policy’s premium to HSBC Life with HSBC Premier Mastercard® Credit Card* to enjoy the offer. Offer ends 30 June 2021. Offer 2: Enjoy one-year premium waiver Eligible customers can get a first year premium waiver on our prescribed HSBC VHIS Flexi Plan when applying for any selected life insurance plan with designated annual premium amount (applicable to annual payment policy only). Offer ends 31 March 2021. Offer 3: Get up to 25% off your first-year premium Apply now to enjoy one of the following offers, • Enjoy 15% off your first year premium when applying for HSBC VHIS Flexi plan upon opening a new bank account or upgrading your current HSBC bank account. Offer ends 31 March 2021. • Enjoy 10% off your first year premium when applying for HSBC VHIS Flexi plan and any HSBC qualifying deferred annuity plan together. Offer ends 31 March 2021. Moreover, family members apply HSBC VHIS Flexi plan together can enjoy 10% discount on first year premium. *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.
Up to 6-month premium discount
Customers may enjoy a 5-month Premium Discount with annual premium payment mode within the promotion period.
If customer apply FWD designated VHIS Plans for your specified relative(s) at the same time, each eligible policy will be entitled to an extra 1-month premium discount in the 1st policy year.
Only applicable for successful application from 12 October 2020 to 30 November 2020 and policies must be issued on or before 31 December 2020.
# Premium is calculated after 5-month premium discount for the first year premium.
Relevant information
* Terms and conditions apply. Please refer to the promotional flyer, product leaflet and policy provisions for details. **vCANsurance Medical Plan is underwritten by FWD Life Insurance Company (Bermuda) Limited, a company incorporated in Bermuda with limited liability (“FWD”).
* Full coverage shall mean the actual amount of eligible expenses and other expenses charged and payable subject to annual benefit limit, lifetime benefit limit, and other related conditions. The claim must be medically necessary and the cost must also be reasonable.
Offer 1: Earn up to an extra $3,000 RewardCash! Pay new policy’s premium to HSBC Life with HSBC Premier Mastercard® Credit Card* to enjoy the offer. Offer ends 30 June 2021. Offer 2: Enjoy one-year premium waiver Eligible customers can get a first year premium waiver on our prescribed HSBC VHIS Flexi Plan when applying for any selected life insurance plan with designated annual premium amount (applicable to annual payment policy only). Offer ends 31 March 2021. Offer 3: Get up to 25% off your first-year premium Apply now to enjoy one of the following offers, • Enjoy 15% off your first year premium when applying for HSBC VHIS Flexi plan upon opening a new bank account or upgrading your current HSBC bank account. Offer ends 31 March 2021. • Enjoy 10% off your first year premium when applying for HSBC VHIS Flexi plan and any HSBC qualifying deferred annuity plan together. Offer ends 31 March 2021. Moreover, family members apply HSBC VHIS Flexi plan together can enjoy 10% discount on first year premium. *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.
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”.