Chubb Life Hong Kong launches health plan that covers 146 conditions

Eligible plans provide protection for up to 128 illnesses.

Chubb Life Hong Kong has launched the Chubb Care Critical Illness Series, a suite of health insurance plans offering flexible payout options and unified premiums for customers in Hong Kong and Mainland China.

The insurer said the products are designed to provide coverage for people with different health profiles, including those who have previously suffered from critical illnesses.

The launch comes as private healthcare costs in Hong Kong are the second highest in the world, according to Chubb. 

The insurer said people with a history of critical illness can also face rejected applications, policy exclusions or higher premiums when seeking new coverage.

The series includes Chubb Every Care Critical Illness Insurance Plan, aimed at healthy customers, which covers 146 illnesses and provides up to 800% protection.

A second set of plans, Chubb Cancer, Cardio and Diabetes Care Critical Illness Insurance Plan, is aimed at cancer survivors, people with cardiovascular disease and those with well-controlled diabetes. It uses simplified underwriting and provides up to 300% protection for up to 128 illnesses.

Chubb said the series includes several first-in-market features. Under Chubb Every Care, customers can choose a standby cash option providing an additional 100% of the sum assured, or an ongoing protection option allowing up to five additional claims.

The plans also cover eligible self-financed drugs and privately purchased medical items for cancer, heart attack and stroke, subject to the policy terms.

Customers can receive an additional 20% of the sum assured for appearance restoration and side effects resulting from cancer and its treatment. A further 20% is available if a condition progresses to advanced-stage cancer, severe heart attack or severe stroke.

For customers living in both Hong Kong and Mainland China, Chubb said the products offer unified premiums across the two markets and accept health reports from designated Mainland hospitals.

Other features include simplified underwriting, a high leverage ratio and a dedicated medical case management team led by a family doctor.

Alex Wong, chief customer proposition officer of Chubb Life Hong Kong, said people who recover from a critical illness can lose insurance protection after their first diagnosis, leaving them financially exposed if the illness returns.