Chubb Life Hong Kong has introduced the "Chubb Care Critical Illness Series." This new suite of health solutions features market-first flexible payout options. It also includes unified cross-border premiums for customers.
The series aims to address a significant coverage gap in Hong Kong's insurance market. It offers comprehensive protection for individuals with various health backgrounds. This includes people who have previously experienced critical illnesses. Private healthcare costs in Hong Kong are the second highest globally.
Individuals with a history of critical illness often face challenges securing insurance. They may encounter application rejections, policy exclusions, or higher premiums. The Chubb Care Critical Illness Series provides solutions for these varied health profiles. It offers four distinct options to cater to different needs.
Alex Wong, Chief Customer Proposition Officer of Chubb Life Hong Kong, commented on the launch. He stated that many individuals lose insurance protection after a first diagnosis. This leaves them financially vulnerable if the illness returns. Mr. Wong emphasized that the new series offers greater choice and practical support. This helps customers and their families navigate future health challenges with confidence.
The new plans include groundbreaking features. Flexible payout options offer a standby cash option for an additional 100% of the sum assured. An ongoing protection option allows for up to 5 additional claims under Chubb Every Care. The plans also reimburse out-of-pocket expenses for eligible drugs and medical items. These cover cancer, heart attack, and stroke treatments.
Post-recovery and advanced care benefits are also part of the series. Customers receive an extra 20% of the Sum Assured for appearance restoration and side-effects from cancer treatments. An additional 20% of the Sum Assured is provided if a condition progresses to an advanced stage. This applies to advanced cancer, severe heart attack, or severe stroke.
The series supports customers residing in both Mainland China and Hong Kong. It features unified premiums for both regions. It also recognizes health reports from designated mainland hospitals. Other key benefits include a simplified underwriting process. An exceptional leverage ratio and a dedicated medical case management team are also provided. This team is led by a family doctor.