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VHIS
FWD VHIS Plan Comparison
With our VHIS certified plans, you’ll get the cover you need. Our VHIS certified plans cover a range of hospitalisation and surgical expenses and premiums paid are eligible for tax deduction¹.
vPrime Medical Plan (Certification number: F00045), vFamily Medical Plan (Certification number: F00072) and vCare Medical Plan (Certification number: F00015) are Flexi Plans certified by the Hong Kong Special Administrative Region Government (the “Government”) under the Voluntary Health Insurance Scheme (“VHIS”) is underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability). FWD’s VHIS provider registration number is 00036 (registration effective on 28 February 2019). This eCommerce Platform is operated by FWD Financial Limited ("FWD Financial") (license no: FA2568). FWD Financial is an appointed and licensed insurance agency of FWD Life.
The product information in this website 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; and for exact terms and conditions and the full list of exclusions, please refer to the policy provisions of the relevant products.
Why VHIS?
Allow you to enjoy tax savings1
Covers unknown pre-existing conditions2
Guaranteed renewal up to age 1003
FWD's VHIS vs traditional health insurance
The information is subject to the terms and conditions of the plan(s).
For the full terms, conditions, benefits and exclusions, please refer to the Policy provisions.
FWD's VHIS⁴ | Traditional health insurance | |
|---|---|---|
Eligibility for tax deduction¹ |
|
|
Covers unknown pre-existing conditions at the time of application² |
| Maybe |
Covers congenital conditions which are pre-existing conditions² |
| Maybe |
Policy can be renewed up to age 100³ |
| Maybe |
No Lifetime benefit limit |
| Maybe |
Covers non-surgical cancer treatments⁵ |
| Maybe |
Covers inpatient psychiatric treatment⁶ |
| Maybe |
Covers day case procedures |
| Maybe |
Covers diagnostic imaging tests⁷ (CT, MRI and PET scans) |
| Maybe |
FWD VHIS plans comparisons
vPrime Medical Plan | vCare Medical Plan | vFamily Medical Plan⁴ | |
|---|---|---|---|
Plan type | VHIS Flexi Plan | VHIS Flexi Plan | VHIS Flexi Plan |
Annual benefit limit | Eligible expenses and cash benefits of up to HK$16,500,000 per policy year, with no lifetime benefit limit | Annual benefit limit of approximately HK$520,000 per policy year, with no lifetime benefit limit | No overall annual limit; adopts a "per Disability⁹ per Policy Year" structure, with total benefits of up to HK$550,000 for each condition in each policy year |
Key coverage | Full cover8 for specified hospitalisation and surgical expenses, intensive care, specialist's fees7, prescribed diagnostic imaging tests7,10, non-surgical cancer treatments5, pre- and post-Confinement/Day Case Procedure outpatient care7, psychiatric treatments6, plus multiple cash benefits | Covers a range of hospitalisation and surgical expenses, including psychiatric treatments6, pre- and post-Confinement/Day Case Procedure outpatient care7 and non-surgical cancer treatments5, with guaranteed renewable3 up to age 100 (attained age of the Insured Person) | Provides worldwide full coverage8 for a range of hospitalisation and surgical expenses with no sub-limits, including hospital and surgical charges, intensive care, prescribed non-surgical cancer treatments5, kidney dialysis7 (including the rental cost of a dialysis machine for use at home), organ/bone marrow transplantation, together with designated day-case procedures11 and cashless services |
Coverage for unknown pre-existing conditions | Covers unknown pre-existing conditions2 at the time of application are covered, with full coverage starting from the 31st day of the first policy year | Covers unknown pre-existing conditions2 at the time of application, but follows the VHIS standard phased reimbursement arrangement: no benefit in the first policy year, 25% in the second policy year, 50% in the third policy year, and 100% from the fourth policy year onwards | Covers unknown pre-existing conditions2 at the time of application, with full coverage starting from the 31st day of the first policy year |
Deductible options | Offers up to six deductible options12, one of the widest ranges in the market, allowing flexible premium adjustment | Not available | Not available |
No-claim reward / premium discount | Up to 30% no-claim discount | Up to 15% no-claim discount | Up to 30% no-claim discount |
VHIS tax deduction | A government-certified VHIS plan; qualifying premiums are eligible for VHIS tax deduction1 | A government-certified VHIS plan; qualifying premiums are eligible for VHIS tax deduction1 | A government-certified VHIS plan; qualifying premiums are eligible for VHIS tax deduction1 |
Product positioning | High benefit levels, flexible deductible options12 and more cash benefits, suitable for mid- to high-end customers who already have group medical coverage | More affordable premiums, suitable for customers with a limited budget who wish to move from public to private hospital protection or are purchasing VHIS for the first time | A family-focused medical plan, ideal for customers who wish to arrange one-stop hospitalisation and surgical protection for their spouse and children, and can be used together with the Family Booster for Child Option (Optional Benefit)13 |
llustrative example of VHIS tax deduction calculation on how tax deductions are calculated
The example assumes a taxpayer buys a VHIS plan for themselves and their specified relatives.
Annual Premium Paid Depending on age/product | Tax-deductible Amount Capped at HK$8,000 per insured person | Amount of Tax Saved Assuming Tax Rate of 15% ^ | |
|---|---|---|---|
Taxpayer | HK$5,000 | HK$5,000 | HK$750 |
Spouse | HK$11,000 | HK$8,000 | HK$1,200 |
Father | HK$12,000 | HK$8,000 | HK$1,200 |
Mother | HK$11,000 | HK$8,000 | HK$1,200 |
Child | HK$2,500 | HK$2,500 | HK$375 |
Total | HK$34,600 | HK$27,600 | HK$4,140 |
^ As from the year of assessment 2018/19, the standard tax rate is 15% and the marginal rates are 2%, 6%, 10%, 14% and 17%.
Source: Government (information updated as of 23 November, 2023).
Note: The above figures are for illustrative and example purposes only. The actual amount of tax savings may be different from the amount illustrated above depending on individual tax assessment and circumstances. FWD does not provide tax advice. In case of any doubt, you should consult professionals for independent tax advice.
vCare Medical Plan and vPrime Medical Plan are underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) ("FWD Life/ FWD"). This eCommerce Platform is operated by FWD Financial Limited ("FWD Financial"). FWD Financial is an appointed and licensed insurance agency of FWD Life.