FWD launches its first online medical insurance plan with 102% guaranteed premium refund

Online one-stop shop with easy insurance application and underwriting

Hong Kong, 20 July 2016 ─ FWD Hong Kong launches its first online medical insurance plan - EasyHealth Refundable Hospital Income Plan (“EasyHealth”) which provides flexible levels of hospital income with guaranteed premium refund, whether claims have been made or not. Application and underwriting of EasyHealth can all be completed online.

Paul Tse, Chief Marketing Officer of FWD Hong Kong & Macau said, "The vision of FWD is to change the way people feel about insurance. Following the launch of iFWD digital commerce platform (“iFWD”) in June 2015, we continue to elevate the digitally-enabled experiences of our customers by answering to their evolving needs with innovative and relevant products and services. As our first online medical insurance plan, EasyHealth is a simple product with flexible options to augment the coverage for our customers’ needs in medical protection.”

EasyHealth can be purchased directly online (https://i.fwd.com.hk/en/medical-insurance) with easy and quick application and underwriting. After reviewing product features, customers can choose for their suitable benefit levels from 4 options, and just have three simple underwriting questions to answer to complete the process.

FWD digital commerce platform ranks top

Regarding FWD’s digital commerce strategy, Paul stated, “The launch of EasyHealth marks an important strategic milestone of FWD’s commitment to continuously enrich our diversified suite of online offerings. In less than six months after launch, iFWD already became Hong Kong insurance market’s top direct sale channel in the first quarter of 2016 (in terms of APE).”

EasyHealth provides flexible hospital income and multiple protection benefits, offering Hong Kong customers an auxiliary support on unexpected hospital expenditures locally and abroad with a premium of as low as HK$12 a day. With the Daily Hospital Cash Benefit to be paid up to as long as 730 days per disability, the insured can enjoy 15 years of protection with 10 years of premiums payment and a guaranteed refund of 102% of total premium paid at end of the 15th policy year, whether claims have been made or not.

Product features of EasyHealth include:
  • Choices of 4 levels of daily hospital cash benefit: The plan offers 4 levels of benefit namely, Basic, Plus, Advanced and Deluxe to suit different financial needs. A daily hospital cash benefit ranging between HK$300 and HK$1,200 depending on the level chosen will be paid up to 730 days per disability.
  • Fixed payment term: Budgeting can never be easier with a fixed payment term. The insured can enjoy 15 years of protection by simply paying for 10 years. What’s more, premium will not increase with the age of the insured.
  • Additional intensive care unit benefit: In case special attention and admission to the intensive care unit is needed, the insured will be entitled to an additional intensive care unit benefit of up to HK$1,200 for as long as 90 days per disability.
  • Additional infectious disease benefit: To help battle against bacterial invasion, an additional infectious disease benefit of up to HK$1,200 will be offered for up to 30 days per disability if the insured is confined due to any one of the diseases covered in our extensive list of 20 kinds of infections.
  • Life Protection: A life protection of 150% of total annualised premium will be given in the unfortunate event of death. If the death is caused by an accident, an additional death benefit equals to 50% of total annualised premium will be offered.
  • Premium refund: A refund of 102% of actual total premium can be enjoyed at maturity (end of the 15th policy year), whether claims have been made before. Surrender benefit expressed as a percentage of actual total premium paid is payable if the plan is surrendered before maturity from the 6th policy year onwards.

To learn more about EasyHealth, visit https://i.fwd.com.hk/en/medical-insurance or call our 24-hour service hotline at +852 3123 3123.

EasyHealth Refundable Hospital Income Plan – FWD launches first medical insurance plan on digital commerce platform, with application and underwriting to complete online in one go.

The above information is for reference only and is indicative of the key features of EasyHealth. For a complete explanation of the terms and conditions, please refer to the Product Brochure and Policy Provisions.

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About FWD Hong Kong & Macau

FWD Group’s businesses span Hong Kong & Macau, Thailand, Indonesia, the Philippines and Singapore. In Hong Kong, FWD offers life and medical insurance, employee benefits, pension, and general insurance. 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; and FWD General Insurance Company Limited is rated “A” by Fitch.

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.

For more information please visit WWW.FWD.COM.HK.

Media Enquiries:

FWD Hong Kong
Liza Wong
+852 2850 3986
Catherine Tse
+852 2850 2908
Jacqueline Choy
+852 2850 2177

Service Hotline 3123 3123 OR