An innovative critical illness insurance plan providing extensive support from early detection to rehabilitation with pioneering recovery services
Hong Kong, 16 October 2015 - FWD Hong Kong announces the launch of Crisis VCover, an innovative critical illness insurance plan that supports the insured every step of the way with a series of healthcare services. In addition to a strong financial support of as much as 700% (Note 1) of the initial sum insured, the plan comes with a series of precautionary and rehabilitative services such as a pioneering Life Enrichment Program (Note 2).
Paul Tse, Chief Marketing Officer of FWD Hong Kong and Macau, said at the launching ceremony of Crisis VCover, “Crisis VCover is a very thorough critical illness plan that we designed to better support customers’ needs along their health journeys. Financial support is undoubtedly crucial in time of treating illnesses. Yet we want to take this one step further to help customers overcome illnesses more bravely and positively with physical and psychological support provided by professional teams, from early detection to post-illness rehabilitation.”
Paul added, “In the new advertising campaign, we use parkour to express the concepts of Crisis VCover. Parkour is a very intelligent sport. In addition to physical fitness it takes foresight and precision in order to overcome obstacles smoothly. Its values resonate with the spirit of Crisis VCover – Have the foresight and be there to provide the support needed at the right time so that customers can be brave to conquer challenges knowing that they are always well protected!”
Crisis VCover brings about a number of unique and value-add features from precaution through to rehabilitation:
Health Screening Benefit (Note 3): Early detection is the first line of defense that can often increase the likelihood of effective treatments. To encourage proactive health management, Crisis VCover sponsors the insured for health checks once every 2 policy years from the second policy anniversary for up to 10 policy years. The insured is free to select health check items and the sponsor amount is up to 0.2% of the initial sum insured (maximum HK$6,000) each time.
A 700% Shield supporting multiple claims: The insured is covered with as high as 350% of the initial sum insured respectively for Cancer and Non-Cancer Groups of diseases (Note 4) forming a shield of up to 700% of the initial sum insured. What is more, additional protections will be provided when needs arise (Table 1).
Group of diseases
Percentage of initial sum insured to be paid for each Serious Disease(Note 5)/Juvenile Disease(Note 6)
Percentage of initial sum insured to be paid for each Major Crisis
Maximum percentage of initial sum insured payable
Additional 35% Coverage Benefit for Major Crisis diagnosed/ or passes awaybefore the 10th policy anniversary(Note 7)
Wide spectrum of covered diseases with market’s new coverage: Coverage spans 139 diseases categorised under the Cancer and Non-Cancer Groups. It consists of 63 Major Crises, such as Cancer, Heart Attack and Stroke, 64 Serious Diseases including newly covered Psoriasis with Arthritis and Postherpetic Neuralgia, and 12 Juvenile Diseases, such as Autism, Severe Asthma, and again newly covered Scar due to accident.
THE ONEcierge One Team Health Management: Insured of Crisis VCover can call THE ONEcierge hotline to get arranged for priority health consultation and treatment services provided by a network of dedicated specialists. The team who can also help on prompt hospitalisation arrangement in time of needs (Note 9).
Treatment and rehabilitation support every step of the way:
✓ Second Medical Opinion from a top U.S. medical institution can be available as soon as a Major Crisis is diagnosed. A team of renowned crisis specialists will be ready to assist (Note 10).
✓ Life Enrichment Program is a pioneering rehabilitation programme designed to smoothen recovery from Cancer, Heart Attack and Stroke utilising the professional services of clinical psychologists, dietitians, physiotherapists, Chinese medicine practitioners, physical trainers etc. A dedicated programme manager will design and adjust programme’s contents according to the insured’s situation and progress.
✓ Health Supplement Benefit: An extra amount equal to 2% of the initial sum insured will be payable monthly for a maximum of 6 months (Note 11) after the Crisis Benefit for Major Crises is paid, further boosting the financial support in time of needs.
✓ Family Care Services refer the insured to domestic assistance services such as home-cleaning, child caring, pet caring and Chinese soup preparation, alleviating the insured from household concerns (Note 12).
“Crisis VCover is truly a thoughtful critical illness plan that supports our customers alongside their life journeys. Customers can use it as a standalone critical illness protection plan or to complement their medical insurance,” commented Paul.
Covering the insured till age 100, Crisis VCover’s initial sum insured ranges from HK$500,000/ US$62,500 (per policy) to HK$12,000,000/ US$1,500,000 (per life); with options for Premium Payment Periods as 10-year, 15-year or 20-year. The plan also pays Annual Dividend and Special Bonus (if any) to boost value of benefits (Notes 13 & 14). More about Crisis VCover can be found at http://www.fwd.com.hk/en/protect/health-accident/critical-illness/crisis-vcover/, or enquired about through FWD 24-hour customer service hotline at (852) 3123 3123.
FWD Hong Kong launched the innovative critical illness plan Crisis VCover. Unveiling the product’s multimedia promotional campaign were Paul Tse, CMO of Hong Kong & Macau, FWD and David Wong, CEO of Hong Kong & Macau and EVP of Greater China, FWD.
FWD expressed the concept of Crisis VCover with parkour – having the foresight to be there and provide the support needed at the right time so that customers can be brave to conquer diseases knowing that they are always well protected!
FWD Hong Kong’s management David Wong (middle) and Paul Tse (3rd from right) watched the debut of the TV commercial of Crisis VCover with health specialists from HealthMutual Group Limited and parkour performers (left and right).
FWD critical illness plan Crisis VCover brochure cover.
This maximum benefit percentage shows the maximum benefits that may be payable under the policy. It is 700% of the Initial Sum Insured.
This service is provided by HealthMutual Group Limited (“HMG”) and its healthcare network team. FWD Life Insurance Company (Bermuda) limited (“FWD”) reserves the right to vary the services in its sole discretion without further notice. FWD shall not be responsible for any act, negligence or failure to act on the part of HMG and its healthcare network team. While the insured is still alive and the policy is still in force, when the Crisis Benefit for Major Crises for the first Cancer, first Heart Attack or first Stroke is payable, FWD will provide the Life Enrichment Program which shall be started within 6 months from the payment date of Claim of such respective Cancer, Heart Attack or Stroke. This benefit will be payable only once for each Claim of first Cancer, first Heart Attack and first Stroke under Crisis Benefit for Major Crises per life. This service is only available in Hong Kong region.
This service, provided by HMG and its healthcare network team, is not a part of the policy or benefit item under the Policy Provisions and only applicable to Crisis VCover. FWD reserves the right to determine or vary the service in its sole discretion without further notice. FWD shall not be responsible for any act, negligence or failure to act on the part of HMG and its healthcare network team. This service is only available in Hong Kong region. The hotline for THE ONEcierge is (852) 8120 9066 for Hong Kong and there is also a toll-free number for Mainland, 400 9303078. For details, please refer to the attached THE ONEcierge brochure.
Subject to the related waiting period. Please refer to the Policy Provisions for details.
Each Serious Disease can be payable once only (except Carcinoma-in-situ or Early Stage Malignancy of Specific Organs and Angioplasty of Coronary Artery). A maximum of two claims can be made in respect of Angioplasty of Coronary Artery under Crisis VCover. To be eligible for the second claim under it, the treatment must be performed on a location of stenosis or obstruction in a major coronary artery where no stenosis greater than 60 percent was identified in the coronary angiogram relating to the first claim of this illness, for which benefit has been paid. Carcinoma-in-situ or Early Stage Malignancy of Specific Organs can be claimed more than once. To be eligible for the subsequent claims, the claims must be a Carcinoma-in-situ or Early Stage Malignancy of one of the covered organs that is different from the organ(s) of the previous claims for which benefit(s) have / has been paid. If the relevant covered organ has both a left and a right component (such as, but not limited to, the lungs or breasts), the left side and right side of the organ shall be considered one and the same organ. A maximum of HK$300,000 / US$37,500 per insured of each claim is payable under all policies of Crisis VCover the Plan for Carcinoma-in-situ or Early Stage Malignancy of Specific Organs and Angioplasty of Coronary Artery.
Each Juvenile Disease can be payable once only and the cover is up to aged 18 (Age Next Birthday).
The benefit payable is equivalent to 35% of the amount of Initial Sum Insured as at the date when the Crisis Benefit for Major Crises or Death Benefit is payable under the policy. This benefit will be payable once only under the policy and will be determined (i) upon the termination of the policy; (ii) once the Crisis Benefit for Major Crises or Death Benefit has been paid or becomes payable; or (iii) on the 10th policy anniversary date, whichever is the earliest. This additional benefit amount will not be deducted from the Multiple Crisis Benefit Limit.
The benefit payable is equivalent to 25% of the amount of Initial Sum Insured as at the date when the designated Cancer (i.e. Lung Cancer, Colorectal Cancer, Breast Cancer or Prostate Cancer) is payable under Crisis Benefit for Major Crises of the policy. This benefit can be payable once only under the policy. The coverage of this benefit shall be terminated upon 350% of the Initial Sum Insured is paid from Cancer Group, regardless of whether the benefit has even been paid of not. This additional benefit amount will not be deducted from the Multiple Crisis Benefit Limit.
FWD will reimburse the reasonable and customary charges for health screening (max. HK$6,000/ US$750 for Health Screening Benefit under all policies of Crisis VCover per insured) received by the Insured once for every 2 policy years (up to 10 policy years), starting from the 2nd policy anniversary. This benefit amount will not be deducted from the Multiple Crisis Benefit Limit.
The service is provided by International SOS and is not guaranteed renewable. All relevant fees and charges (if any) of this service shall be borne by the insured. FWD shall not be responsible for any act or failure to act on the part of International SOS. Details of the services may be revised from time to time without FWD’s prior notice.
While the Insured is still alive and the policy is in force, when the Crisis Benefit for Major Crises is payable, Health Supplement Benefit will be payable per month (up to a maximum of 6 months) starting from the payment date of the respective Crisis Benefit for Major Crises. This benefit will be payable once only under the policy and this additional benefit amount will not be deducted from the Multiple Crisis Benefit Limit.
The service is provided by Aspire Lifestyles (“Aspire”) and is not guaranteed renewable. All relevant fees and charges (if any) of this service shall be borne by the insured. FWD shall not be responsible for any act or failure to act on the part of Aspire and/or any of its affiliates. Details of the services may be revised from time to time without FWD’s prior notice.
Annual Dividend (if any) will be payable every year starting from the 1st policy anniversary provided that the policy is in force and premium is paid in full when due. Annual Dividend is a non-guaranteed payment and is determined by FWD from time to time at its absolute discretion. Annual Dividend will not be payable when total payments of Multiple Crisis Benefit under the policy reach 100% of the Initial Sum Insured.
When the policy has been inforced for 5 years or more, a Special Bonus (if any) will be payable under the policy upon the payment of Crisis Benefit for Major Crises or Death Benefit under the policy, surrender or maturity of the policy. Special Bonus is not guaranteed and is determined by FWD from time to time at its absolute discretion. A proportionate Special Bonus, if any, will be also paid upon payment of the Crisis Benefit for Serious Diseases or Crisis Benefit for Juvenile Diseases and which shall then be reduced on a pro rata basis accordingly. Special Bonus will not be payable when total payment of the Crisis Benefit under the policy reach 100% of the Initial Sum Insured.
The above information is for reference only and is indicative of the key features of Crisis VCover. For a complete explanation of the terms and conditions, please refer to the Policy Provisions.
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About FWD Hong Kong & Macau
FWD Group spans Hong Kong & Macau, Thailand, Indonesia and the Philippines, offering life and medical insurance, employee benefits, pension, and general insurance across a number of its markets.
FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by leading digital technologies. Through this customer-led approach, FWD will achieve its vision to become the leading pan-Asian insurer that changes the way people feel about insurance.
Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group.
In Hong Kong, the life insurance and general insurance operating entities have been assigned strong financial strength ratings by international rating agencies. FWD Life Insurance Company (Bermuda) Limited is rated “A3” by Moody’s and “A” by Fitch. FWD General Insurance Company Limited is rated “A” by Fitch.