FWD launches Mind Strength Protection Plan, a market-first mental health insurance

Provides professional support and strengthens acceptance of mental health 

FWD Hong Kong (“FWD”) announced the launch of the Mind Strength Protection Plan (“Mind Strength”), an innovative mental health-focused medical protection plan in Hong Kong¹. It provides first-of-its-kind coverage, including preliminary diagnosis and referral services, out-patient counselling, hospitalisation treatment and post-hospitalisation care, as well as tailor-made family support. This plan reframes the way people care for their mind by encouraging more proactivity before any mental health challenges occur. 

The launch of Mind Strength follows the release of an international mental health survey² by FWD Group in October 2022, which revealed insights and ideas to help promote better overall mental well-being. The survey highlighted that nearly 80% of people in Hong Kong have or know someone who has experienced mental health challenges. Despite this, only 20% of them will actively seek professional help, with the cost of treatment and lack of understanding of one’s own situation being the most significant barriers to receiving mental health care in Hong Kong.

Kelvin Yu, Chief Product Officer, FWD Hong Kong & Macau, said, “In Hong Kong, matters such as post-pandemic adjustments, work pressure and inflation are key contributing factors to mental health challenges. That is why we’re launching the market-first¹ Mind Strength Protection Plan to provide more intuitive and accessible mental health protection. The plan also enables early detection of mental health challenges so people can receive professional and appropriate treatment and rehabilitation in a timely manner.” 

Kelvin continued, “In Hong Kong, one in two respondents of the FWD survey identified mental health to be one of the most critical issues in the coming year². However, there are two things hindering people from seeking help - stereotypes of mental illnesses and the lack of trusted information about professional support. By launching this product, we hope to provide secure protection for individuals’ and their families' mental well-being, as well as open up the conversation about mind strengthening in Hong Kong.”

First-in-Hong Kong¹ benefits provide protection and special care

Mind Strength provides extensive medical coverage³, from initial diagnosis to ongoing treatment for designated mental health challenges to ease customers’ financial burdens and support them on their road to recovery. The coverage includes:

1. Preliminary diagnosis consultation and referral services⁴: Customers can have a free preliminary online mental health self-assessment; and benefit from referral services for mental health management and diagnosis, child development services, and Chinese medicine practitioner services at a discounted rate. The services provide help in early detection and treatment. 

2. Reimbursement for treatment expenses⁴: Customers can reimburse out-patient consultations with a psychiatrist or consultations with a clinical psychologist in Hong Kong for up to 80% of the eligible expenses solely for six designated mental illnesses (including anxiety disorders, bipolar disorder, depression, obsessive compulsive disorder, post-traumatic stress disorder and schizophrenia). 

3. Daily hospitalisation income benefit for mental illness treatment: The plan provides hospital income benefit of up to HK$2,000 (appendix). It will reimburse the eligible expenses for follow-up out-patient consultation with a psychiatrist and follow-up consultation with a clinical psychologist after hospitalisation in Hong Kong, solely for medically necessary treatment of a mental illness⁵. The plan provides full coverage for hospitalisation and mental illness treatments, with no itemised benefit limits on reimbursement.

4. Post-hospitalisation benefits on the road to recovery: One of the highlighted benefits is the retreat benefit of up to HK$4,000 (appendix). Customers who are hospitalised in Hong Kong for medically necessary treatment of a mental illness⁵ will receive this benefit for them to relax and recuperate. This can be used for a suitable retreat experience, including a staycation, travel, a fitness class, or a wellness course. This plan also provides tailor-made support and appropriate care services for the family members of the insured person after receiving the psychiatric treatment benefits.

FWD believes that a strong mind is important in all aspects of life. The plan offers an additional benefit for severe psychiatric illness, which provides consumers with a lump sum psychiatric illness benefit of up to HK$800,000 (appendix). 

Mind Strength includes three plan options to cater towards customers’ needs with flexibility and affordability. For example, a 30-year-old insured person⁶ can enjoy a monthly premium for the first year at only HK$93.15 (Plan 1) / HK$157.41 (Plan 2) / HK$253.8 (Plan 3). For further product information, please visit https://www.fwd.com.hk/en/products/medical-cover/mind-strength-protection-plan. 

– Ends –

¹ Per a comparison made by FWD on 30 September 2022 among the medical insurance plans of key insurers available in Hong Kong, FWD is the first insurance company in Hong Kong to launch Out-Patient Psychiatrist Consultation/ Clinical Psychologist Consultation Benefit, Daily Hospital Income Benefit, Post Hospitalisation Out-Patient Psychiatrist Consultation/ Clinical Psychologist Consultation Benefit, Retreat Benefit and Monthly Income Support Benefit (optional benefit).
² Source: The international mental health survey conducted by FWD in collaboration with Blackbox, which was completed by 10,000 people across 16 international markets between June and July 2022. 
³ This is provided by third-party service providers.
⁴ If the Insured has the first confirmed diagnosis of any one of the designated mental illnesses, and has undergone an out-patient consultation with a psychiatrist and/or a consultation with a clinical psychologist solely relating to that mental Illness in Hong Kong, this plan will reimburse 80% of the eligible expenses including any prescribed medication, diagnostic tests and treatments for such consultation, up to the limits set out in the policy schedule or any endorsement. The first Out-Patient consultation with a Psychiatrist or the first consultation with a Clinical Psychologist for the diagnosis or treatment of any one of the designated Mental Illnesses must be undergone in a face-to-face setting between the Insured and the Psychiatrist / the Clinical Psychologist in Hong Kong. For the avoidance of doubt, phone and video-based teleconsultation is not allowed for the first consultation.
⁵ For 10 or more consecutive days.
⁶ Based on an Insured male who will turn 30 on his next birthday, excluding monthly cash benefits (optional benefits).

The Mind Strength Protection Plan is underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability). The above information is for reference only and does not contain the full terms and conditions, key product risks and full list of exclusions of the policy. For the details of benefits and key product risks, please refer to the product brochure downloadable at https://www.fwd.com.hk/-/media/documents/product/medical/fwd-mind-strength-en-18oct-update.pdf?rev=c58038e0494e43cd9a2f7fb5da7dcedb; and for exact terms and conditions and the full list of exclusions, please refer to the policy provisions of the plan.

About FWD Hong Kong & Macau
FWD Hong Kong & Macau are part of the FWD Group, a pan-Asian life insurance business with more than 10 million customers across 10 markets, including some of the fastest growing insurance markets in the world.

FWD Hong Kong has been assigned strong financial ratings by international agencies. It offers life and medical insurance, employee benefits, and financial planning. FWD Macau provides a suite of life and medical insurance.

FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.