Medical Insurance
Underwritten by: Hong Kong Life Insurance Limited
Appointed Licensed Insurance Agency: Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited

Flexible Arrangement for a Better Protection

The below information does not contain the full terms of the policy document. For full terms and conditions, please refer to the policy document.

Being healthy and wealthy is our lifelong pursuit. In achieving such goal, you should prepare well against any misfortune arising from accident and illness. Refundable Hospital Income Protection Series (The "Plan"), including Refundable Hospital Income Protection and Refundable Hospital Income Protection – Special Class, provides you with daily hospital income, to protect your health as well as wealth at the same time.

Cash Support for Flexible Use

If the Life Insured admits to the hospital because of Injury or Sickness while the Plan is in force, the Daily Hospital Income will be paid according to the number of Day of Confinement1. You can choose the Daily Hospital Income of HKD288, HKD388, HKD488 or HKD688, up to a maximum compensation period of 1,000 days per Disability.

Refundable Premium

The Plan provides premium refund. Total Premiums Paid will be fully refunded to you upon Policy Expiry.

Double Compensation for Intensive Care

Double Daily Hospital Income will be provided for confinement in Intensive Care Unit subject to a maximum of 90 days per Disability.

Fixed Premium for your Better Planning

The premium will remain unchanged throughout the Premium Payment Term2, allowing you to have a better plan for your future. The renewal premium is not guaranteed and will be calculated according to the Life Insured's attained age and the premium rates upon renewal (if applicable).

Simple Application

Application procedure is simple and no medical examination is required.

 

Refundable Hospital Income Protection

Refundable Hospital Income Protection will offer a full premium refund upon Policy Expiry. If no claim has been made during the Benefit Term, 103% of Total Premiums Paid will be refunded to you upon Policy Expiry.

Benefit Coverage
Daily Hospital Income and Intensive Care Benefit3
    • Hospitalization Benefit Schedule
Daily Hospital Income Class 1 Class 2
Amount per each Day of Confinement1 HKD388 HKD688
Maximum number of days per Disability 1,000 1,000
  •  
  • Double Daily Hospital Income for confinement in Intensive Care Unit, subject to a maximum of 90 days per Disability
Benefit Term
  • 7 Years (Renewable up to age 67 of the Life Insured)
Death Benefit
  • Refund of Total Premiums Paid
  • Plus HKD1,000
Refund of Premium
  • Refund of premium will be according to the claim record upon Policy Expiry:

    Claim Record % of Guaranteed Refund of Total Premiums Paid for Basic Plan
    No 103%
    Yes 100%
  • If the Policy is terminated, the Guaranteed Surrender Value as below will be applicable:

    Completed Policy Year
    (from Policy Date or any subsequent date of renewal, whichever is later)
    % of Guaranteed Refund of Total Premiums Paid for Basic Plan
    1 0%
    2 0%
    3 0%
    4 30%
    5 50%
    6 80%
Premium Table﹝in HKD﹞
Plan Options Class 1 Class 2
Daily Hospital Income 388 688
Age* Monthly Annual Monthly Annual
0-17 549 6,588 960 11,520
18-30 507 6,084 886 10,632
31-35 569 6,828 994 11,928
36-40 584 7,008 1,022 12,264
41-45 815 9,780 1,431 17,172
46-50 948 11,376 1,667 20,004
51-55 1,451 17,412 2,559 30,708
56-60 1,748 20,976 3,086 37,032

* Age means age of the Life Insured at the last birthday

The premium of Refundable Hospital Income Protection will remain unchanged throughout the Premium Payment Term2.  Refundable Hospital Income Protection will be renewed automatically on the Expiry Date. The renewal premium is not guaranteed and will be calculated according to the Life Insured's attained age and the premium rates upon renewal. Renewal is up to age 67 of the Life Insured.


Refundable Hospital Income Protection - Special Class

Regardless the claim records, Refundable Hospital Income Protection – Special Class will offer a full premium refund upon Policy Expiry.

Benefit Coverage
Daily Hospital Income and Intensive Care Benefit3
    • Hospitalization Benefit Schedule
Daily Hospital Income Class 1 Class 2
Amount per each Day of Confinement1 HKD288 HKD488
Maximum number of days per Disability 1,000 1,000
  • Double Daily Hospital Income for confinement in Intensive Care Unit, subject to a maximum of 90 days per Disability
Benefit Term
  • 10 Years
Death Benefit
  • Refund of Total Premiums Paid
  • Plus HKD 1,000
Refund of Premium
  • Guaranteed 100% refund of Total Premiums Paid upon Policy Expiry.
  • If the Policy is terminated, the Guaranteed Surrender Value as below will be applicable:
Completed Policy Year % of Guaranteed Refund of Total Premiums Paid for Basic Plan
1 0%
2 0%
3 0%
4 0%
5 50%
6 60%
7 70%
8 80%
9 90%
Premium Table﹝in HKD﹞
Plan Options Class 1 Class 2
Daily Hospital Income 288 488
Age* Monthly Annual Monthly Annual
0-17 203 2,436 332 3,984
18-30 199 2,388 325 3,900
31-35 216 2,592 353 4,236
36-40 285 3,420 471 5,652
41-45 355 4,260 589 7,068
46-50 429 5,148 714 8,568
51-55 525 6,300 877 10,524
56-60 744 8,928 1,249 14,988

*Age means age of the Life Insured at the last birthday

The premium of Refundable Hospital Income Protection – Special Class will remain unchanged throughout the Premium Payment Term2.

  Refundable Hospital Income Protection Refundable Hospital Income Protection - Special Class
Premium Payment Term2 7 Years 10 Years
Renewable up to aged 67 of the Life Insured
Issue Age* Aged 0 (15 days after birth) to 60
Policy Currency HKD
Benefit Term 7 Years 10 Years
Renewable up to aged 67 of the Life Insured
Premium Payment Mode Annual / Monthly

*Age means age of the Life Insured at the last birthday.

  1. "Day of Confinement" means each continuous 24 hours' period that the Life Insured is confined as a resident in patient in a Hospital.
  2. The Policy will be terminated if the Policyowner cannot settle the premium payment before the end of the Grace Period during the Premium Payment Term. For detailed terms and conditions, please refer to the policy document issued by Hong Kong Life. If the Policy is terminated before the Policy Expiry, the Guaranteed Surrender Value received by the Policyowner may be less than the Total Premiums Paid.
  3. Where the Life Insured is suffering from different Disability, under no circumstances will Hong Kong Life pay more than the amount of Daily Hospital Income for each Day of Confinement as shown on the Schedule of Benefits. In the case where hospital confinement occurs in places other than Hong Kong, Macau, Singapore, Malaysia, Thailand, Japan, North America, Europe, Australia and New Zealand, the amount payable for each Day of Confinement will be limited to 50% of the amount of Daily Hospital Income as shown on the Schedule of Benefits. The Daily Hospital Income and Intensive Care Benefit are reimbursed on Medically Necessary and Reasonable and Customary Hospital Confinement basis. "Medically Necessary" means a medical service or supply, when in Hong Kong Life's opinion it is consistent with generally accepted professional standard of medical practice and required to establish a diagnosis and provide treatment, which cannot be safely delivered in a lower level of medical care. Screening, experimental and preventive services or supplies are not considered Medically Necessary. "Reasonable and Customary Hospital Confinement" means the admission and confinement in Hospital, the length of confinement, the medical services and treatment rendered during the hospital confinement are all in accordance with standards of good medical practice and must not exceed the usual standard for the treatment of similar Injury or Sickness at the location where such confinement take place.

The Plan shall not cover any claims caused directly or indirectly, wholly or partly, by any one of the following occurrences:

  1. any hospitalization or charges incurred as a result of any pre-existing condition or illness the symptoms of which first occurred in the 5 years prior to or within 30 days following the Issue Date, date of endorsement or date of any reinstatement of the Plan, whichever is later;
  2. suicide or self-inflicted injuries while sane or insane;
  3. war whether declared or undeclared or any act thereof, invasion, civil commotion, riots or any warlike operations;
  4. service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order; or violation or attempted violation of the law or resisting arrest or participation in any brawl or affray;
  5. engaging in or taking part in (a) driving or riding in any kind of race; (b) professional sports; (c) underwater activities involving the use of breathing apparatus; (d) flying or other aerial activity except as a fare-paying passenger in a commercial aircraft;
  6. Injury or Sickness sustained whilst the Life Insured is under the influence of alcohol or drugs and treatment in connection with addiction to drugs or alcohol;
  7. routine physical examinations, health check-ups or tests, rest cure, sanatorium care, vaccinations, immunization injections, preventive medication or any treatment which is not Medically Necessary;
  8. dental treatment or eye examinations, dentures, glasses or hearing aids or the fitting of any thereof, cosmetic surgery or plastic surgery, except and to the extent that any of such treatment is necessary for the cure or alleviation of Injury to the Life Insured;
  9. Human Immunodeficiency Virus (HIV) infection, except and to the extent that such infection occurs through an accidental cut or wound, and/or any HIV-related illness including AIDS and/or any mutations, derivations or variations thereof; venereal diseases, sexually transmitted diseases, infertility, sterilization or psychiatric treatment; mental or nervous diseases or disorder including but not restricted to anorexia nervosa, anxiety, depression, mania, neurosis, paranoid, psychosis and schizophrenia; congenital deformities and anomalies that gives rise to signs or symptoms, or is diagnosed before the Life Insured reaches age 14;
  10. childbirth, pregnancy, miscarriage or abortion;
  11. treatment or surgery for tonsils, adenoids or hernia until the Life Insured has been continuously covered under the Plan for a period of 120 days immediately preceding such treatment or surgery.
  • Basic Plan

Risk

Exchange Rate Risk

You are subject to exchange rate risks for the Policy denominated in currencies other than the local currency. Exchange rates fluctuate from time to time. You may suffer a loss of your benefit values and the subsequent premium payments (if any) may be higher than your initial premium payment as a result of exchange rate fluctuations

Liquidity Risk / Long Term Commitment

The Plan is designed to be held until the Maturity / Expiry Date. If you terminate the Policy prior to the Maturity / Expiry Date, a loss of the premium paid may be resulted.

The premium of the Plan should be paid in full for the whole payment term. If you discontinue the payment, the Policy may lapse and a loss of the premium paid may be resulted.

Credit Risk of Issuer

The life insurance product is issued and underwritten by Hong Kong Life. The premium to be paid by you would become part of the assets of Hong Kong Life and that you and your Policy are subject to the credit risk of Hong Kong Life. In the worst case, you may lose all the premium paid and benefit amount.

Inflation Risk

When reviewing the values shown in the Insurance Proposal, please note that future medical costs/ cost of living in the future is likely to be higher than it is today due to inflation.

Important Policy Provisions

Renewability (applicable to Refundable Hospital Income Protection)

While the Plan is kept in force, it shall automatically be renewed without further evidence of insurability on the Expiry Date and any subsequent Expiry Date upon renewal of the Plan prior to the sixty-seventh (67th) birthday of the Life Insured by payment of premiums determined in accordance with Hong Kong Life's premium rates then in effect for the Life Insured's attained age on the date of renewal. The benefit term of such renewal will be (i) the original benefit term of the Plan, or (ii) the number of years from the date of renewal up to the Policy Anniversary on or immediately following the Life Insured's sixty-seventh (67th) birthday, whichever is shorter. The date on which the benefit term of such renewal ends will become the Expiry Date of the Plan. All other terms and conditions of the Plan shall remain unchanged upon renewal.

Hong Kong Life reserves the right to cancel the Plan at any time by giving thirty (30) days' notice in writing to the Policyowner. Whenever the Plan is so cancelled, Hong Kong Life shall return the unearned portion of premium paid without interest. Cancellation shall be without prejudice to any claim arising prior to the date of cancellation.

Automatic Termination

The Plan shall terminate automatically:

  1. upon the death of the Life Insured; or
  2. if and when the Plan expires; or
  3. if and when a premium remains unpaid at the end of the Grace Period as specified in the General Provisions; or
  4. on the Policy Anniversary on or immediately following the Life Insured's sixty-seventh (67th) birthday (applicable to Refundable Hospital Income Protection); or on the Policy Anniversary on or immediately following the Life Insured's seventieth (70th) birthday (applicable to Refundable Hospital Income Protection-Special Class)..

Others

Premium Adjustment (applicable to Refundable Hospital Income Protection

Hong Kong Life has the right to review and adjust the Plan's premium rates for particular risk classes upon renewal, but not for any individual customer. Hong Kong Life may adjust premium rates because of several factors, such as Hong Kong Life's claims and persistency experience, historical performance and the future outlook of investment returns, and expenses directly related to and indirect expenses allocated to the Plan.

Insurance Costs

Part of the premium pays for the insurance and related costs (if any).

Cooling-off Period

If you are not satisfied with your Policy, you have a right to cancel it within the cooling-off period and obtain a refund of any premium(s) and levy(ies) paid (in the original payment currency) to Hong Kong Life without any interest. A written notice signed by you should be received directly by Hong Kong Life Insurance Limited at 15/F Cosco Tower, 183 Queen's Road Central, Hong Kong within the cooling-off period (that is, the period of 21 calendar days immediately following either the day of delivery of the Policy or the Cooling-off Notice to you or your nominated representative (whichever is the earlier)). After the expiration of the cooling-off period, if you cancel the Policy before the end of the term, the projected Total Surrender Value (if applicable) may be less than the Total Premiums Paid.

Non-Protected Deposit

The Plan is not equivalent to, nor should it be treated as a substitute for, time deposit. The Plan is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.

Dispute on Selling Process and Product

Chong Hing Bank Limited, CMB Wing Lung Bank Limited, OCBC Wing Hang Bank Limited and Shanghai Commercial Bank Limited (collectively "Appointed Licensed Insurance Agencies" and each individually "Appointed Licensed Insurance Agency") are the Appointed Licensed Insurance Agencies of Hong Kong Life, and the life insurance product is a product of Hong Kong Life but not the Appointed Licensed Insurance Agencies. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between the Appointed Licensed Insurance Agency and the customer out of the selling process or processing of the related transaction, Appointed Licensed Insurance Agency is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the life insurance product should be resolved between Hong Kong Life and the customer directly.

The above information is for reference and is applicable within Hong Kong only. The above information does not contain the full terms of the policy document. For full terms and conditions, please refer to the policy document. If there is any conflict between the above information and the policy document, the latter shall prevail. The copy of the policy document is available upon request. Before applying for the insurance plan, you may refer to the contents and terms of the policy document. You may also seek independent and professional advice before making any decision.