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Critical Illness Guardian Insurance Plan / Critical Illness Guardian Insurance Plan (Enhanced)

Critical Illness Guardian Insurance Plan / Critical Illness Guardian Insurance Plan (Enhanced)

Product Summary

We can't predict the future, but we can be prepared for it!

An unpredictable critical illness such as cancer can throw a life into chaos. It not only brings about physical and emotional pain, but also tremendous financial burden. Fortunately, the advancement of medical technology can cure many critical illnesses. With timely treatment, we can enjoy our lives afterwards.

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Critical Illness Benefit

 

Special Disease Benefit

 

Life Protection

 

Cash Coupons

 

Terminal Dividend

Product Features

Critical Illness Guardian Series (the “Series” or the “Plan”), which includes Critical Illness Guardian Insurance Plan (the “Standard Plan”) and Critical Illness Guardian Insurance Plan (Enhanced) (the “Enhanced Plan”), are comprehensive and flexible critical illness plans which offer “critical illness benefit” and “special disease benefit”. In addition, “multiple cancer benefit” and “multiple heart attack and stroke benefit” are provided by the Enhanced Plan for more advanced protection so that you can focus on recovery and get well soon.

 Specially for the Enhanced Plan - multiple cancer benefit

Cancer relapse is common. The Enhanced Plan also offers the “multiple cancer benefit” to suit your need. The maximum number of cancer claims for the Enhanced Plan is 3 times. If the insured is diagnosed with the first critical illness which is a cancer, “critical illness benefit”1 will be payable. The maximum number of subsequent cancer claims payable to “multiple cancer benefit” is 2 times, each “multiple cancer benefit” equals to 100% of the original sum assured, and the date of diagnosis between each cancer must fulfill the requirement of waiting period2.

 Specially for the Enhanced Plan - multiple heart attack and stroke benefit

Apart from cancer, relapse of heart attack and stroke are quite common, and this is why the Enhanced Plan provides 2 additional protection where each will be entitled to 100% of the original sum assured, provided that at least 1 year have passed between the date of diagnosis of the subsequent heart attack or stroke and the date of diagnosis of critical illness which was previously paid for the “critical illness benefit” or the “multiple cancer benefit” or the “multiple heart attack and stroke benefit” under the policy (both dates inclusive), and the insured is still alive within 14 days from the date of diagnosis (both dates inclusive).

 180% of original sum assured as critical illness benefit1,2,3

The Series provides protection against 60 critical illnesses including cancer, stroke and heart-related illnesses. If the insured is diagnosed with any of the covered critical illnesses prior to the policy anniversary immediately following his/her 66th birthday, a “critical illness benefit” with benefit amount equal to 180% of the original sum assured plus non-guaranteed terminal dividend4 (if any) will be offered. If the date of diagnosis is between the policy anniversary immediately following the insured’s 66th birthday and the policy maturity date (both dates inclusive), the benefit payable will be equal to 100% of the original sum assured plus accumulated cash coupons7 and interest5 (if any) and non-guaranteed terminal dividend4 (if any), and less all indebtedness (if any) and benefits paid (if any).

After the “critical illness benefit” is paid, the Standard Plan will be terminated; while the undue premiums of the Enhanced Plan will be waived, allowing the insured to continue to enjoy the coverage of “multiple cancer benefit” and “multiple heart attack and stroke benefit”.

For the details of the covered critical illnesses, please refer to the “covered illnesses table”.

 Maximum 3 claims for special disease benefit

The Series provides coverage for 19 special diseases which are categorized into four groups, including carcinoma-in-situ6, early thyroid or prostate cancer, autism, severe obstructive sleep apnoea and severe asthma. If the insured is diagnosed with any covered special diseases, and we have not paid the “critical illness benefit”, we will pay out 20% of the current sum assured (already reflected any adjustment of the sum assured or deduction of claim payment (if any) made by the Plan) in advance for such special disease. The 19 special diseases are organized into 4 groups. Up to 2 claims can be made for carcinoma-in-situ under group 1, while 1 claim can be made for each of the other groups, subject to the maximum number of 3 claims for “special disease benefit” or a maximum limit of HKD550,000/USD68,750 per insured (whichever is lower). As the sum assured will be reduced after the payment of a claim for “special disease benefit”, the premiums and cash value of the Plan will be adjusted accordingly.

Assuming the insured enrolls into the Plan with the original sum assured of HKD1,000,000. If he/she is diagnosed by a registered medical practitioner with one of the covered special diseases, the benefit payable will be 20% of HKD1,000,000 current sum assured, that is HKD200,000. The sum assured of the Plan will be reduced to HKD800,000. With no claim for “critical illness benefit” in the next few years, the insured is diagnosed with one of the covered special diseases of another group (except carcinoma-in-situ), the benefit payable will be 20% of HKD800,000 current sum assured, that is HKD160,000. The sum assured of the Plan will be reduced to HKD640,000 thereafter.

For the details of the covered special diseases, please refer to the “covered illnesses table”.

 Life protection, extra accidental death benefit and maturity benefit

The Series provides protection until the insured reaches age 100. If the insured passes away, the beneficiary will receive a death benefit which is equal to 100% of the current sum assured, plus non-guaranteed terminal dividend4 (if any), accumulated cash coupons7 and interest5 (if any), and less all indebtedness (if any). An additional 100% of the current sum assured will be provided as accidental death benefit8 if accidental death happens before the insured reaches age 66.

The policy will mature when the insured reaches age 100 and the insured will receive a maturity benefit which is equal to 100% of the current sum assured, plus the non-guaranteed terminal dividend4 (if any) and accumulated cash coupons7 and interest5 (if any), and less all indebtedness (if any).

 Cash coupons

The insured will receive cash coupons for up to 2 times as pocket money for retirement. The cash coupons will be paid when the insured reaches the policy anniversary immediately following his/her 70th and 80th birthday. The amount payable each time is equal to 10% of the current sum assured. You can opt to accumulate the cash coupons in the policy to earn interest5 until policy maturity to boost up return, or withdraw7 that to achieve financial goals. The cash coupons will still be provided even if the “special disease benefit” is paid. However, if the “critical illness benefit” is paid, the cash coupons will not be provided.

 Non-guaranteed terminal dividend4

Non-guaranteed terminal dividend (if any) will be paid upon the payment of the death benefit, the first time “critical illness benefit”, policy surrender or policy maturity date (whichever is the earliest).

 Second medical opinion service9

With the second medical opinion service, you can obtain professional medical opinion from top-notch medical institutions in order to make an appropriate decision concerning your treatment.

 24-hour worldwide emergency assistance service9

If the insured is diagnosed with an illness or is injured in an accident outside the country of residence, he/she can access comprehensive coverage under the free 24-hour worldwide emergency assistance service.

Product Details

Critical Illness Guardian Insurance Plan / Critical Illness Guardian Insurance Plan (Enhanced)

Plan type Critical illness plan
Premium payment term and issue age
Premium payment term10 Issue age
10 years 15 days to age 60
15 years 15 days to age 55
20 years 15 days to age 50
Benefit term To age 100 of the insured
Premium payment mode Annual, semi-annual, quarterly, monthly11, annual and premium prepayment12
Policy currency HKD / USD
Minimum sum assured HKD100,000 / USD12,500

Notes:

  1. When China Life (Overseas) pays out “critical illness benefit”, all paid “special disease benefit” (if any), and all indebtedness (if any) will be deducted.
  2. After the “critical illness benefit” is paid, if the insured is subsequently diagnosed by a registered medical practitioner as suffering from cancer under the definition of critical illness, and is still alive within 14 days from the date of diagnosis (both dates inclusive), and the date of diagnosis of the subsequent cancer and the date of diagnosis of critical illness which was previously paid for the “critical illness benefit” or “multiple cancer benefit” or “multiple heart attack and stroke benefit” under the policy shall be subject to the following conditions:
    1. 1-year waiting period (both dates inclusive):
      1. new cancer diagnosis (unrelated to the cancer in the preceding claim); or
      2. the critical illness immediately before is not cancer
    2. 3-year waiting period (both dates inclusive):
      1. recurrence or metastasis of the cancer in the preceding claim; or
      2. continuation of the cancer in the preceding claim despite having received or is receiving necessary and active treatment.
  3. The “critical illness benefit” will be paid to the insured who is still alive within 14 days from the date of diagnosis (both dates inclusive). If the insured who is still alive is under age 18, the “critical illness benefit” will be paid to the policyholder. Upon the claim payment for the “critical illness benefit” (only applicable to the Enhanced Plan): (i) the subsequent premiums not yet falling due under the Plan can be waived. When a claim is being processed, the premiums shall continue to be paid until the claim is approved by us. Any waiver of premiums will be effected in accordance with the premium payment mode of this policy (i.e. monthly, quarterly, semi-annual or annual); (ii) the coverage of this policy shall then be limited to the “multiple caner benefit” and “multiple heart attack and stroke benefit” only. The maturity benefit, death benefit, accidental death benefit, cash coupons, “special disease benefit” and “critical illness benefit” shall then be terminated; and (iii) the sum assured, premiums and guaranteed cash value of this policy and its riders (if any) shall be reduced to zero after the “critical illness benefit” is paid.
  4. Terminal dividend is non-guaranteed and is one-time dividend. It is not perpetually attached to the policy. The amount of the terminal dividend will be subject to adjustment when it is declared. Terminal dividend may become zero in some circumstances. The payment amount due to surrender will be lower than other cases.
    The terminal dividend shall be paid upon the occurrence of the earliest of the following conditions:
    1. when the death benefit is paid;
    2. when the “critical illness benefit” is paid;
    3. when the policy is surrendered; or
    4. when the policy reaches the policy maturity date.
    For more information, please refer to clause 7 and clause 8 under “important information” and “non-guaranteed benefit” risk.
  5. The interest are not guaranteed. The actual benefits and/or returns may be lower or higher than the estimates. China Life (Overseas) reserves the right to revise these from time to time.
  6. The maximum claims for group 1 is 2 times, under the condition that the infected organ of carcinoma-in-situ for the second claims must be different from the first. If carcinoma-in-situ occurs in paired organs, including breast, fallopian tube, lung, ovary and testis, the left part and the right part of these organs are regarded as the same organ. If the insured is covered under the Plan and its rider(s) and same plans underwritten by us, the total amount of claim payments payable to the insured cannot exceed the maximum amount of claims payable as stated above.
  7. You may withdraw the cash coupons at any time without any charge, however, the policy value and death benefit will be affected in case of withdrawal.
  8. Applicable if the insured suffers from accidental injury caused by an accident, and dies from the accidental injury within 180 days from the date of the occurrence of the accidental injury (both dates inclusive).
  9. Second medical opinion service and 24-hour worldwide emergency assistance service are provided by third party service providers. China Life (Overseas) shall not be liable for any matter in connection with the services. China Life (Overseas) reserves the right to amend the terms and conditions thereof from time to time without prior notice.
  10. In addition to premiums, you have to pay policy fee of HKD200/USD25 (subject to policy currency) per year during the premium payment term.
  11. If the required renewal premium is paid by you within the grace period, the policy shall continue to be in force. For details, please refer to the policy provisions issued by China Life (Overseas). If the policy is lapsed or surrendered early, the policy cash value received by you may be considerably less than the total amount of the premium paid.
  12. If you choose the annual and premium prepayment option, you can withdraw the unused prepaid premium (including interest, if any) at one time. China Life (Overseas) will charge 2% of the withdrawal amount, at a minimum amount of HKD100/USD12.5. You can withdraw the unused prepaid premium once only. The interest rate of prepaid premium is not guaranteed.

 

Important Information

The above information is for reference only. The detailed terms, conditions and exclusions of the Plan are subject to the relevant policy contract.

You have the right to purchase the medical insurance product as a standalone plan instead of bundling with other type(s) of insurance product.
 

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