Term Critical Illness Insurance

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.

The application of this insurance product with the policy currency denominated in a foreign currency is subject to that foreign currency’s exchange rate and currency risk. The foreign currency may be subject to the relevant regulatory bodies’ control (for example, exchange restrictions). If your home currency is different from the policy currency, please note that any exchange rate fluctuation between your home currency and the policy currency of this insurance product will have a direct impact on the amount of premium required and the value of benefit(s) to be received. For instance, if the policy currency of the insurance product depreciates substantially against your home currency, there is a negative impact on the benefits you receive from the product. If the policy currency of the insurance product appreciates substantially against your home currency, your burden of the premium payment is increased.

The cost of living in the future may be higher than now due to the effects of inflation. Therefore, the benefits under this policy may not be sufficient for the increasing protection needs in the future even if FWD fulfills all of its contractual obligations.

The premium is non-guaranteed and FWD reserves the right to review and adjust the premiums from time to time. The premium may increase significantly due to factors including but not limited to claims experience and policy persistency.

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.

The premium payment term of the policy up to age 85 (age next birthday).

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 policy will automatically end on the earliest of the following:

1. The death of the insured;
2. The expiry date of this policy;
3. The date of policy surrender. Such date is determined in accordance with our applicable rules and regulations in relation to policy surrender;
4. On the premium due date, if the policy owner has not paid the premium within the 30-day grace period; and
5. 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)

If the insured commits suicide within 13 calendar months from the commencement date (or the reinstatement date, whichever is later), FWD’s legal responsibility will be limited to the total premium amount paid to FWD without interest, less any outstanding insurance levy and after deducting any policy benefits that FWD has paid and any outstanding amounts owed to FWD. This applies regardless of whether the Insured was sane or insane when committing suicide.

This policy shall not cover any loss / claim directly or indirectly caused by or resulting from any of the following:

1. Intentional self-inflicted injury or attempted suicide, while sane or insane and while intoxicated or not.
2. The participation in any criminal event.
3. 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.
4. 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”).
   Please refer to policy provisions for the exclusion for the Post-hospitalisation Out-patient.

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.

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:

I. To identify accounts as non-excluded “financial accounts” (“NEFAs”);

II. To identify the jurisdiction(s) in which NEFA-holding individuals and NEFA-holding entities reside for tax purposes;

III. 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;

IV. To collect information on NEFAs (“Required Information”) which is required by various authorities; and

V. To furnish required Information to the Inland Revenue Department.

The policy owner must comply with requests made by FWD to comply with the above listed requirements.

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.

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:

1. consistent with the diagnosis and customary medical treatment for the insured’s Disease;

2. 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

3. 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.