Term Critical Illness Insurance
MyCover Critical Illness Plan
Market pioneer to offer additional medical coverage on Big 3 Diseases.
Why do you need critical illness insurance cover?
Why should I choose an online term critical illness plan?
Pure critical illness insurance policy for better value of money
Get insured online for fast and easy cover
Critical illness insurance comparison in the market Monthly premium range¹
What is MyCover term critical illness insurance plan?
Pick the critical illness plans that’s relatively right for you
MyCover Plus
We refer to this optional cover as our ‘Crisis Benefit’. Should you be diagnosed with any of the covered crisis, we’ll pay 100% of the current sum insured – as soon as you’re diagnosed.
MyCover 2-in-1
We’ll pay either up to 100% initial sum insured under all policies of the Term Critical Illness Series with Additional Medical Coverage for Big 3 Diseases or up to HK$1,000,000 per life under all policies of the Term Critical Illness Series3 with Additional Medical Coverage for Big 3 Diseases – whichever is lower.
For more details, check the Eligible Expenses11 limit.
(10-year renewable period is not applicable to MyCover 2-in-1)
Built-in recovery support
Access professional help
The premium is calculated on standard rates and is based on the monthly premium for a non smoking male aged 18 with coverage of HK$300,000 at a renewal term of 1 year. All premiums (exclude levy collected by the Insurance Authority and non guaranteed) are rounded to the nearest whole number and the actual premium amount varies from person to person and is for reference only.
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Less than 10 minutes to apply
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Benefit summary
HK$300,000
HK$1,500,000 (Age Next Birthday 61-70)
Yearly renewable / 10-Year renewable plan
Age Next Birthday 19 - 70
This platform offers Monthly premium payment mode
Policy holder can contact FWD Customer Service to amend premium payment mode after policy is effective
Benefit items
100% of the current sum insured
Advanced payment of 35% of the Initial Sum Insured (subject to a maximum of HK$400,000 per Insured of each claim under all policies of the Term Critical Illness Series3
If Big 3 Diseases Benefit is payable, relevant rehabilitation programme will be provided
5% of the initial sum insured
Access to a network of leading specialists and top-tier hospitals in the Pan-Asia region
Standby assistance from renowned doctors from top U.S. medical institutes
Referral services to help you take care of your home
100% of the current sum insured
If Big 3 Diseases Benefit has been paid and/or is payable, and within two years from the date of first confirmed diagnosis of such Big 3 Disease, the Eligible Expenses11 of that big 3 Disease have reached the lower of the total initial sum insured under all policies of the Term Critical Illness Series3 or HK$500,000, the insured can claim up to additional 100% of the total initial sum insured under all policies of the Term Critical Illness Series or HK$1,000,000 per life under all policies of the Term Critical Illness Series3, whichever is lower, on a reimbursement basis for Eligible Expenses11 incurred in respect of that Big 3 Disease in excess of the aforesaid threshold under Hospitalisation Benefits, Surgical Benefits and Other Benefits12
Remarks
- The critical illness coverage monthly premium is based on Age 35, male, non-smoker, and sum insured of HK$ 1,000,000. The monthly premium range for term critical illness insurance is reference from 5 different yearly-renewable and 10-year term critical illness insurance online plans in the market (including MyCover Core (yearly renewable) of which the premium is non-guaranteed and rounded to the nearest whole number), which cover 3 – 38 critical illnesses . The premium of FWD’s The monthly premium range for critical illness savings insurance is reference from 5 different whole life critical illness savings insurance plans in the market, which cover 56 – 62 critical illnesses. The above information is based on comparison made by FWD as at 31 August 2021. Premiums do not include insurance levy collected by the insurance Authority.
- Source from FWD claims report 2020
- Term Critical Illness Series means MyCover Critical Illness Plan and other selected critical illness insurance term plan(s) as specified by FWD from time to time.
- This service is provided by HealthMutual Group Limited (“HMG”) and its healthcare network team. 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 (if any). While the insured is still alive and the policy is still in force, when Big 3 Diseases Benefit is payable, We will provide the Life Enrichment Program which shall be started within 6 months from the payment date of such Big 3 Diseases Benefit to the Insured and the fee will be waived once per Insured. This service is only available in Hong Kong region.
- PREMIER THE ONEcierge is provided by HMG and its healthcare network team and Parkway Hospitals Singapore (“Parkway”) and shall not form a part of the policy or benefit item under the policy provisions. FWD reserves the right to terminate 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 and Parkway. This service is only available in the Pan-Asia region. The hotline for PERMIER 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 PREMIER THE ONEcierge’s brochure.
- Based on the monthly premium for a non-smoking male aged 18 at a renewal term of 1 year. All premiums (exclude levy and non-guaranteed) are rounded to the nearest whole number and the actual premium amount varies from person to person.
- FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) (“FWD” or “We”) will pay the Big 3 Diseases Benefit, Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit and Crisis Benefit (if applicable) only where the first symptoms appear, the condition occurs and the diagnosis or surgery relating to the relevant disease occurs after the first 90 calendar days from the commencement date. This first 90 calendar days limitation does not apply if any disease is solely and directly caused by an accident and independently of any cause. While this policy is in force, if the insured has the first confirmed diagnosis of a Big 3 Disease, carcinoma-in-situ or early stage malignancy of specific organs or crisis (if applicable) and survives for a period of at least 14 days from the date of first confirmed diagnosis of such Big 3 Diseases, carcinoma-in-situ or early stage malignancy of specific organs or crisis (if applicable), we will pay to the policy owner the Big 3 Diseases Benefit, Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit or Crisis Benefit (if applicable). Current sum insured means the initial sum insured less any benefits paid under Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit of the policy. Big 3 Diseases Benefit or Crisis Benefit (if applicable) will only be paid once until the total claims paid and/or payable reach 100% of the initial sum insured. Total claims means the aggregate amount of the Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit, Big 3 Diseases Benefit and Crisis Benefit (if applicable) payments. Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit, Big 3 Diseases Benefit or Crisis Benefit (if applicable) shall not be paid in conjunction with the Death Benefit. If Additional Medical Coverage for Big 3 Diseases (Optional Benefit) is not selected, upon payment of the Big 3 Diseases Benefit, Our liability (if any) under this Policy shall be limited to the Life Enrichment Program.
- No benefit will be payable under this Death Benefit if the total claims paid and / or payable reach 100% of the initial sum insured at the time of the death of the Insured. This benefit shall not be paid in conjunction with the Big 3 Diseases Benefit, Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit or Crisis Benefit (if applicable)
- Family Care Services is provided by Aspire Lifestyles (“Aspire”) currently and is not guaranteed renewable. All relevant fees and charges (if any) of this service shall be borne by the Insured solely. 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 and service provider may be revised from time to time without FWD’s prior notice.
- If policy owner can obtain a refund of any expenses otherwise recoverable under this benefit from any other sources, FWD will only pay the portion of these expenses in excess of the refund obtained from other sources up to the above limit. Policy owner must tell FWD if the insured can obtain a refund of all or part of expenses otherwise recoverable under this benefit from any other sources. If FWD has paid a benefit which is recoverable from another source, Policy owner must refund this amount to FWD. The policy will be terminated once the above maximum limit for the Eligible Expenses is reached or upon expiry of this benefit, which is two years after the date of the first confirmed diagnosis of such Big 3 Diseases (whichever is earlier). Once the Big 3 Diseases Benefit is payable and while the policy is still in force, We will waive the balance of premiums payable under this policy.
- Eligible Expenses refers to reasonable and customary charges incurred for Medically Necessary treatment, services or supplies rendered with respect to the same Big 3 Disease for which the Big 3 Diseases Benefit claim is paid or payable.Reasonable and customary refers to a fee or expense which:
- is actually charged for Medically Necessary treatment, supplies or medical services;
- does not exceed the usual or reasonable average level of charges for similar treatment, supplies or medical services in the location where the expense is incurred;
- does not include charges that would not have been made if no insurance existed.
We may adjust benefit(s) payable under this policy for fees or expenses that We judge not to be reasonable and customary after comparing with fee schedules used by the government, relevant authorities or recognised medical associations in the location where the fee or expense is incurred. - Hospitalisation Benefits, Surgical Benefits and Other Benefits coverage
Entitled ward class: Hospitalization Benefits
- Room & Board: Full Cover
- Intensive Care Unit Charges: Full Cover
- Medical Practitioner’s Hospital Visit and Specialist’s Fee: Full Cover
- Miscellaneous Hospital Medical Charges: Full Cover
- Hospital Companion Bed (An extra bed for 1 person who accompanies the Insured in Hospital): Full Cover
- Private Nursing Care’s Fee: Full Cover
Entitled ward class: Hospitalization Benefits
- Surgeon’s fees, Anaesthetist’s fee and operating theatre fee: Full Cover
Entitled ward class: Other Benefits
- Post-hospitalisation Out-patient (1 consultation per day): Full Cover
- Post-hospitalisation Home Nursing (within 31 calendar days after discharge following surgery or Intensive Care Unit admission): Full Cover
- Non-surgical Cancer Treatmenti: Full Cover
- Prescribed Diagnostic Imaging Testsii: Full Cover
- Rehabilitation Treatment (stay in Rehabilitation Centre for treatment for at least 6 continuous hours): Full Cover
Standard Ward Room refers to a room type in a Hospital that is of a quality below a Standard Semi-private Room. Standard Semi-private Room refers to a single or double occupancy room in a Hospital, with a shared bath or shower room.
Without prejudice to the maximum limit of the Additional Medical Coverage for Big 3 Diseases, if on any day of Hospitalisation, the Insured is Hospitalised in a room of a higher level than a Standard Semi-private Room at his own choice, the amount of Eligible Expenses reimbursable shall be reduced by multiplying the following percentage:
- Actual room type:Standard Ward Room
- Percentage applied to the Eligible Expenses:100%
- Actual room type:Standard Semi-privite Room
- Percentage applied to the Eligible Expenses:100%
- Actual room type:Standard Private Room
- Percentage applied to the Eligible Expenses:50%
- Actual room type:Level above the Standard Private Room
- Percentage applied to the Eligible Expenses:25%
The above adjustment shall not be applied if the Hospitalisation in a room of a higher level than a Standard Semi-private Room is necessitated by the following reasons:
- unavailability of accommodation at the specified ward class due to ward or room shortage for emergency treatment;
- isolation purposes that require a specific class of accommodation; or
- other reasons not involving personal preference of the Policy Owner and/or the Insured.
Key product risks
This product is an insurance policy issued by FWD. The application of this insurance product and all benefits payable under your policy are subject to the credit risk of FWD. You will bear the default risk in the event that FWD is unable to satisfy its financial obligations under this insurance contract.
Yearly renewable/ 10-Year renewable plan: The premium within the renewable period is not guaranteed but will not be increased solely based on the age of the Insured on his or her next birthday. The premium upon renewal will be determined at our sole discretion based on the age of the next birthday of the Insured at the time of renewal.
In addition, if Additional Medical Coverage for Big 3 Diseases is selected at the policy application, the premium of Additional Medical Coverage for Big 3 Diseases is not guaranteed and will be determined annually at our sole discretion based on the age of the Insured on his or her next birthday at the policy anniversary, and the premium of the policy will change every year.
FWD allows a grace period of 30 days after the premium due date for payment of each premium. If a premium is still unpaid at the expiration of the grace period, the policy will be terminated from the date the first unpaid premium was due. Please note that once the policy is terminated on this basis, you will lose all of your benefits.
- The death of the insured;
- The expiry date of this policy;
- The date of policy surrender. Such date is determined in accordance with our applicable rules and regulations in relation to policy surrender;
- On the premium due date, if the policy owner has not paid the premium within the 30-day grace period; and
- The total claims paid and / or payable reach 100% of the initial sum insured (except when Big 3 Diseases Benefit is payable, this policy will be terminated when Additional Medical Coverage for Big 3 Diseases has been paid or terminated, applicable to Additional Medical Coverage for Big 3 Diseases only)
Exclusions
- Intentional self-inflicted injury or attempted suicide, while sane or insane and while intoxicated or not.
- The participation in any criminal event.
- Any condition arising out of consumption of poisoning drugs, psychiatric drug, drug abuse, alcohol abuse, abuse of solvents and other substances unless prescribed by a medical practitioner for treatment.
- Human Immunodeficiency Virus (HIV) related illness, including Acquired Immunization Deficiency Syndrome (AIDS) and / or any mutations, derivations or variations thereof, which is derived from an HIV infection (Applicable to Crisis Benefit only: except “HIV due to blood transfusion” and “occupationally acquired HIV”).
FWD will not pay the Big 3 Diseases Benefit, Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit and Crisis Benefit (if applicable) where the first symptoms appear, the condition occurs and the diagnosis or surgery relating to the relevant disease occurs within the first 90 calendar days from the commencement date. This first 90 calendar days limitation does not apply if any disease is solely and directly caused by an accident and independently of any cause.
Important notes
If you are not fully satisfied with this policy, you have the right to change your mind.
We trust that this policy will satisfy your financial needs. However, if you are not completely satisfied, you have the right to cancel and obtain a full refund of the insurance premium paid by you and levy paid by you without interest by giving us written notice. Such notice must be signed by you and received directly by the office of FWD within 21 calendar days immediately following either the day of delivery of the policy or a cooling-off notice to you or your nominated representative, whichever is the earlier. The notice is the one sent to you or your nominated representative (separate from the policy) notifying you of your right to cancel within the stated 21 calendar day period. No refund can be made if a claim payment under the policy has been made prior to your request for cancellation. Should you have any further queries, you may (1) call our Customer Service Hotline on 3123 3123; (2) visit our FWD Insurance Solutions Centres; (3) email to cs.hk@fwd.com and we will be happy to explain your cancellation rights further.
To surrender the policy, the policy owner needs to send FWD a completed surrender form or by any other means acceptable by FWD.
FWD must comply with the following requirements of the Inland Revenue Ordinance to facilitate the Inland Revenue Department automatically exchanging certain financial account information:
- To identify accounts as non-excluded “financial accounts” (“NEFAs”);
- To identify the jurisdiction(s) in which NEFA-holding individuals and NEFA-holding entities reside for tax purposes;
- To determine the status of NEFA-holding entities as “passive non-financial entities (NFEs)” and identify the jurisdiction(s) in which their controlling persons reside for tax purposes;
- To collect information on NEFAs (“Required Information”) which is required by various authorities; and
- To furnish required Information to the Inland Revenue Department.
Your policy is based on the information you and the Insured gave FWD during the application process. It is important that you and the Insured were truthful and accurate with all of the information you provided, as this information helped FWD to decide if you and they were eligible for the policy, and what you need to pay.
You or the insured are/is required to disclose all material facts in response to FWD's underwriting questions. Material facts are the facts, information or circumstances, in particular medically-related facts, e.g. medical history, smoking status, etc., that would influence the judgment of FWD in setting the premium, or in determining whether to insure the risk. If you or the Insured are/is uncertain as to whether or not a certain piece of information is material, please take a cautious approach and disclose it to FWD.
You should let us know immediately if the information you or the Insured gave us was inaccurate, misleading, or exaggerated. If you or the Insured did not provide accurate and truthful information, or you or they gave misleading or exaggerated information, your benefits or premium under your policy may be affected, and in some cases we may cancel your policy.
Written notice of any claim for Death Benefit, Big 3 Diseases Benefit, Crisis Benefit (if applicable), Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit and Additional Medical Coverage for Big 3 Diseases (if applicable) must be given to FWD within 30 calendar days (and in any case no later than 6 calendar months) from the date of death of the insured, the date of the relevant medical treatment or first confirmed diagnosis of such respective big 3 diseases, crisis or carcinoma-in-situ or early stage malignancy of specific organs (as applicable). Any claims for Death Benefit, Big 3 Diseases Benefit, Crisis Benefit (if applicable), Carcinoma-in-situ or Early Stage Malignancy of Specific Organs Benefit and Additional Medical Coverage for Big 3 Diseases (if applicable) received after the said 6-month period shall not be accepted, unless FWD in its sole discretion decide otherwise.
Important words
Disease(s) listed under “Big 3 Diseases covered in MyCover Critical Illness Plan” in Appendix 1: List of Diseases Covered of policy provisions. Any diagnosis of Big 3 Diseases for the purpose of claiming the Big 3 Diseases Benefit must fulfil the meaning together with the terms and conditions stated under the heading of that Disease in Appendix 2: Definition of Big 3 Diseases of policy provisions.
The Disease(s) covered under this Policy as set out in “Appendix 1: List of Diseases Covered” of policy provisions. Each Disease is further defined in Appendix 2, Appendix 3 or Appendix 4 of policy provisions.
The first time that a diagnosis of a Disease is made by a medical practitioner and confirmed by histopathological and / or cytopathological patterns and / or radiological tests, blood tests and / or other laboratory tests results. Date of diagnosis of a Disease suffered by the Insured will be the day when tissue specimen, culture, blood specimen or any other laboratory investigation upon which the diagnosis is determined is first taken from the Insured. For cancer and carcinoma-in-situ or early stage malignancy of specific organs, a diagnosis based on history, physical and radiological findings only will not meet the standards of diagnosis required by this Policy.
The period when the Insured stays in a hospital as an in-patient for Medically Necessary treatment of a Big 3 Disease. The Hospital stay must be for at least 6 continuous hours or, if this does not happen, the Hospital must charge for room and board. The insured cannot leave the Hospital before he or she is discharged. Hospitalisation ends when the Hospital issues its final accounts in preparation for the Insured to formally leave, or be discharged from, the Hospital.
A medical service, procedure or supply which is necessary and is:
-
consistent with the diagnosis and customary medical treatment for the insured’s Disease;
-
recommended by a medical practitioner for the care or treatment of the Insured’s Disease involved and must be widely accepted professionally in Hong Kong as effective, appropriate and essential based upon recognized standards of the health care specialty involved; and
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not furnished primarily for the personal comfort or convenience of the Insured or any medical service provider. Experimental, screening and preventive services or supplies are not considered Medically Necessary.
Declarations
- This product is underwritten by FWD. FWD is solely responsible for all features, policy approval, coverage and benefit payment under the product. FWD recommends that you carefully consider whether the product is suitable for you in view of your financial needs and that you fully understand the risk involved in the product before submitting your application. You should not apply for or purchase the product unless you fully understand it and you agree it is suitable for you. Please read through the following related risks before making any application of the product.
- This product material is issued by FWD. FWD accepts full responsibility for the accuracy of the information contained in this product material. This product material is intended to be distributed in the Hong Kong Special Administrative Region (“Hong Kong”) only and shall not be construed as an offer to sell, a solicitation to buy or the provision of any insurance products of FWD outside Hong Kong. All selling and application procedures of the product must be conducted and completed in Hong Kong.
- This product is an insurance product. The premium paid is not a bank savings deposit or time deposit. The product is not protected under the Deposit Protection Scheme in Hong Kong.
- All underwriting and claims decisions are made by FWD. FWD relies upon the information provided by the applicant and the Insured in the insurance application to decide to accept or decline the application with a full refund of any premium paid and any insurance levy paid without interest. FWD reserves the right to accept / reject any insurance application and can decline your insurance application without giving any reason.
- All the above benefits and payment are paid after deducting policy debts (if any, e.g. unpaid premiums or policy loan with interest).
Not exactly what you need?
Frequently Asked Critical Illness Questions
What is term critical illness (CI) insurance plan?
Term critical illness (Term CI) insurance plan is a pure protection plan with no savings element, premium will be more affordable compared to critical illness insurance plan with saving element. Common coverage periods are 1 year, 5 years or 10 years. Renewal is usually up to a specified age.
Why do i need term critical illness insurance plan?
The benefit of purchasing term critical illness insurance plan is that premium will be more affordable, and when suffering from a specified illness, the insured can receive a one-off monetary support for treatment to ease the financial burden.
Who needs to buy critical illness insurance?
If you are the breadwinner of your family, you may want to reduce the financial burden of being unable to work after you get sick and avoid its impact on your life as well as of your family. You can purchase a critical illness insurance plan according to your insurance needs, coverage and sum insured for financial security.
Should I get the term critical illness insurance at a young age?
Yes. People of any age could suffer from critical illnesses. The earlier you get insured, the sooner you will be covered. As long as you are at age of 19 (age next birthday), you can get insured for the FWD's MyCover Critical Illness Plan.
How is FWD's MyCover Critical Illness Plan different from other insurance products in the market?
The 3 major critical illnesses (cancer, heart attack and stroke) account for about 90% of the 2020 critical illness insurance claims in FWD. FWD's MyCover Critical Illness Plan allows policy owner to receive a lump sum cash benefit upon diagnosis of these 3 critical illnesses. The plan can be upgraded to provide comprehensive coverage for an additional 59 critical illnesses, providing a more flexible option comparing with other term critical illness plans in the market.
If I already buy a savings critical illness insurance plan, do I still need to buy the term CI insurance?
Evaluate your savings critical illness insurance plan, compare the scope and amount of protection provided, and then decide whether you need an additional short to medium period pure critical illness policy, with more affordable premiums to enhance the protection.
Does FWD’s MyCover Critical Illness Plan cover Carcinoma-in-situ (CIS)?
Yes. If you want have coverage on Carcinoma-in-situ (CIS) , you can choose FWD's MyCover Critical Illness Plan. Its protection on carcinoma-in-situ covers breast cancer, lung cancer, cervical cancer, etc. For details, please refer to the product brochure.
How to pick the MyCover Critical Illness Plan that best suits me?
"There are 3 tiers in the MyCover Critical Illness Plan, you can choose according to the protection you need:
- MyCover Core: Pays 100% of the current sum insured for ""the big 3 diseases"", including cancer, heart attack and stroke;
- MyCover Plus: In addition to the scope covered by the Core plan, it also includes ""crisis benefits"", in which additional 59 critical illnesses are covered;
- MyCover 2-in-1: on top of the scope covered by the Core plan, it includes crisis benefits and additional medical coverage for big 3 diseases"
Is medical check-up necessary for buying FWD’s MyCover Critical Illness Plan?
FWD's MyCover Critical Illness plan does not require the policyholder to undergo a medical check-up or submit a health certificate prior to purchase insurance. You only need to answer 2 simple health questions to apply it online.
Is there an insurance cooling-off period for FWD’s MyCover Critical Illness Plan? How long is it?
FWD's MyCover Critical Illness Plan has a cooling-off period. If you find that your insurance plan has changed after purchased, you have the right to cancel the insurance policy within the specified 21 calendar days, premium and insurance levy paid will be refunded.
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