AIA Hong Kong and Macau unveils new critical illness plans

Executive Care Pro and Multiple Care Pro aimed to bridge the protection gap with the most comprehensive coverage.

American International Assurance Company (Bermuda) Limited (“AIA Hong Kong and Macau”) has introduced two new generation critical illness protection plans, “Executive Care Pro” and “Multiple Care Pro”, providing the widest range of coverage in the market for up to 61 critical illnesses and specified illnesses. These new plans give customers complete peace of mind with the assurance of financial support and access to quality treatment in the unfortunate event of a critical illness.

The product launch follows the successful roll-out of the Company’s “Mind the Gap” campaign, which aims at raising public awareness of the inadequacy of existing critical illness and medical insurance plans through a series of print and outdoor advertisements. The campaign will help customers bridge the gap in medical coverage, according to an AIA Hong Kong and Macau report.

Figures reveal that 1 out of every 5 people in Hong Kong is at serious risk of contracting cancer before turning 75. The number of cancer patients requiring hospitalisation increased 56% from 2005 to 2009 with a total of over 490,000 hospitalised cancer patients during the same period. Although advances in medical science have significantly increased recovery rates for many diseases (if diagnosed early), the high costs associated with treatment can place a great financial burden on patients. With today’s rising medical costs, a critical illness plan providing sufficient coverage is of vital importance to everyone.

“The new generation critical illness protection plans, ‘Executive Care Pro’ and ‘Multiple Care Pro’, are specially designed to ensure our customers enjoy enhanced protection and care when they need it,” said Mr. Thomas Lee, Chief Marketing Officer of AIA Hong Kong. “In addition to boasting the widest coverage in the market offering protection against an extensive list of 61 critical illnesses and specified illnesses1, ‘Multiple Care Pro’ provides as much as 5 times the critical illness sum assured and is the first in the market to offer limited pay premium terms. A maximum of 3 claims (within tier 1 to tier 5) may be made for cancer with a high recurrence rate to free customers from the worry of inadequate protection with coverage for the recurrence of a prior illness. The Critical Illness Waiting Period is counted from the date of diagnosis4, which allows customers to receive the claims payment earlier to more quickly alleviate the pressure of medical bills. After a tier 1 major illness claim has been made, customers can still enjoy tier 2 to tier 5 major illness protection while premium payments of the basic policy are waived.”

In addition to the comprehensive coverage, “Executive Care Pro” and “Multiple Care Pro” also provide critical illness protection of up to US$1,000,000 per life, allowing customers to manage the high costs of treatment. These 2 plans offer up to 5 choices of premium payment terms. This enables customers to enjoy lifelong insurance and critical illness protection5 by paying up the policy in a period as short as 5 years, giving them extra flexibility in financial planning. To offer customers additional and continuous protection, the subsequent premiums of the basic policy will be waived if the insured has made a claim after being diagnosed with any of the major illnesses. Combining both critical illness protection and life protection, the 2 plans also offer the added benefit of cash savings by providing guaranteed cash value, non-guaranteed annual dividends and a non-guaranteed maturity dividend for extra wealth accumulation.