The Medical Tips Guide

There’s always a “to consider list” when making a purchase and it only gets more complicated when buying a medical insurance. How can you expect to imagine and prepare for something that hasn’t happened yet? Some people never dwell on medical insurance and purchase it just for the sake of it, but that still leaves many unresolved problems. Our medical insurance expert is here to give you some tips and teach you all the essentials before purchasing medical insurance.

  1. How much should you spend on medical insurance?

  2. To balance quality of life and protection, a medical insurance premium shall take up 10-20% of your income. Those with more ample income can consider supplemental benefits to expand their coverage or choose a higher level of protection. For example, FWD CANsurance Full Medical Plan offers a variety of coverage options. They differ in the area of coverage, room level and benefit limits for each disability (ranging from HKD 250,000 up to HKD 800,000; the amount will be doubled for claims related to a covered cancer) to suit your budget.

  3. How much should my critical illness coverage be?

  4. Some critical illnesses can take away your ability to work and generate income. So, your critical illness benefit should cover one to two years of your income or family expenses, to sufficiently cover your daily life and needs at different life stages. When it comes to critical illness benefits and expenses, some medical plans feature a No Claim Benefit Booster and No Claims Premium Discount. These plans offer additional coverage and premium discounts at renewal when certain requirements are met. In the case of the FWD CANsurance Full Medical Plan, if no claims have been incurred during two or more consecutive policy years immediately prior to the policy’s renewal, you will be eligible for a 10% no claims premium discount on the renewal premium. If you haven’t made any claims in the 10 consecutive years immediately before renewal, you will be entitled to a one-off increase of 20% in Per Disability Limit permanently. With these discounts and rewards, FWD encourages everyone to live a healthy lifestyle.

  5. No reimbursements due to unclear declarations?

  6. You should truthfully disclose your state of health. Withholding information may cause insurance companies to decline your claim and refuse reimbursements. If an illness or disease emerges whilst you are insured, but is unrelated to your pre-existing condition, it typically does not affect claims. Aside from terms of claims, you should also be aware of terms of renewal. The FWD CANsurance Series and other plans allow renewals until the age of 100 (age of your next birthday) regardless of claim records, changes in the state of health and financial conditions, giving you peace of mind.

  7. Reimbursements – in $ or in %?

  8. The reimbursement calculation differs across insurance companies. Some companies have maximum benefit limits, where reimbursements are made to actual expenses. Some policies, including VHIS Certified Plans, reimburse in a percentage of medical expenditures. Therefore, it’s crucial to know what the terms are before purchasing a plan. For those who prefer things to be simple, you can consider plans with full compensation. Take the FWD CANsurence Full Medical Plan as an example: hospitalisation, surgery, cancer chemotherapy & radiotherapy, kidney dialysis and some other expenses are entitled to full compensation, giving you nothing to worry about.

  9. Who’s following my policy?

  10. Traditional insurance companies, banks and online insurance companies all provide medical insurance, but they differ in actual services. For instance, is there a specialist to assist you with your needs? These providers may not differ much in travel insurance, but when it comes to claims and follow-ups in medical insurances, a representative will make life a lot easier. FWD clients and customers can request the service of a claim ambassador who assists the insured with claim documents, explains procedures and provides you with complete assistance from the approval process until you are reimbursed, helping you all the way no matter the case.

  11. Same illness, different medical plans?

  12. Typical medical insurance does not cover all cancers and related illnesses. Before making a purchase, you should consider if a critical illness plan, cancer covering medical plan, or other products are more suited to your needs. Full medical and cancer coverage plans can step in where group medical falls short and handle unexpected medical expenses.

    There’s a lot to know when it comes to purchasing insurance. With the recent launch of VHIS, insurance has become the talk of the town. To get clarity on the details, contact your insurance company or consult the advice from specialists.


The above information is a brief summary of product features. For detailed product information, please read the product brochure and policy terms and conditions. The information in this website is for reference purposes only and should not be considered as an offer or solicitation for any of the products or investments mentioned herein. FWD expressly disclaims all liability for the use or interpretation by others of information contained in this website (including third party responsibility). You are advised to seek independent advice from appropriate professionals if you have any enquires with the related information.

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