The plan guarantees renewal till age 100 at affordable premiums with guaranteed conversion right while offering more comprehensive medical coverage for individuals aged between zero and 65.
ACE Life Insurance Company Ltd. (“ACE Life Hong Kong”), a part of the ACE Group of Companies, global leaders in insurance and reinsurance, announced today the launch of the ACE Select Top-Up Medical Plan for individuals aged between zero and 65 with guaranteed renewal till age 1001. This plan also comes with a guaranteed conversion right2, 3 when it has been in force for at least three years. Policy owners will then be able to convert the plan to a designated medical plan that suits their varied needs when the insured reaches the age 50, 55, 60 or 65.
Ms Diana Kwan, Chief Marketing Officer, ACE Life Hong Kong, said, “This new medical plan bears testament to ACE Life Hong Kong’s commitment to develop innovative products and services to meet the needs of its customer base. According to the Thematic Household Survey Report No. 45 published by Census and Statistics Department of the HKSAR in December 2010, 57.3% of the total population of Hong Kong were not entitled to any medical benefits provided by employers/companies and were not covered by medical insurance. To enable more people ofHong Kong to enjoy comprehensive medical protection at affordable premiums, we have specially developed the ACE Select Top-Up Medical Plan which can be purchased as a basic plan or as a rider to help customers cover the cost of their medical treatment.”
The ACE Select Top-Up Medical Plan is very affordable. For example, at a first-year premium of HK$9084, which translates to only HK$2.5 a day, a woman aged 30 can enjoy a maximum annual benefit amount of HK$180,000.
Among the other key features of the ACE Select Top-Up Medical Plan are guaranteed renewal to age 100, comprehensive medical coverage, and compatibility with other medical plans, according to a ACE Life report.
In addition, customers who successfully applied for either the Custom Whole Life or Supreme Care Critical Illness Protector, together with the ACE Select Top-Up Medical Rider, and whose total first-year premiums are paid on or before 30 September 2011 will be eligible to receive supermarket coupons.
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