Critical Illness Multiple Protector / Critical Illness Multiple Protector (SS)
Pioneering Self-Selected Critical Illness Benefit
Offering You True Personal Protection
An unexpected critical illness can threaten your wellbeing and compromise your quality of life. Advances in medical science have made recovery easier than ever, but external factors can still lead to recurrence, putting your family under even heavier financial pressure.
The Critical Illness Multiple Protector series (the “Series” or the “Plan”) comprises the Critical Illness Multiple Protector (the “Standard Plan”) and Critical Illness Multiple Protector (SS) (the “SS Plan”). The Series provides essential coverage for critical illnesses and special diseases, packaged together with the multiple critical illness benefit, which enables you to make up to four additional claims should recurrences arise after your initial claim for enhanced support during difficult times. The “SS Plan” offers these benefits and more, introducing 2 extra claims through the multiple cancer benefit, along with the pioneering self-selected critical illness benefit, which provides enhanced protection for 3 critical illnesses of your choice.
First in the market - the SS Plan’s self-selected critical illness benefit allows you to choose 3 out of 6 critical illnesses for which you will receive additional protection equal to an extra 100% of the original sum assured
Your critical illness protection needs are unique. That is why we are introducing the breakthrough self-selected critical illness benefit as part of the SS Plan. This benefit allows you to personalize your protection by choosing 3 out of 6 critical illnesses for which you will receive enhanced protection, to accommodate your own protection needs.
The 6 critical illnesses include cancer, Parkinson’s disease, multiple sclerosis, stroke, Alzheimer's disease and cardiomyopathy. You can choose 3 of these upon enrollment, and your choices cannot be altered afterwards. If the insured is diagnosed with any of the chosen critical illnesses and meets the 14-day survival period, we will pay an extra 100% of the original sum assured in addition to the critical illness benefit or multiple critical illness benefit payout.
You can only claim the self-selected critical illness benefit once.
The SS Plan’s multiple cancer benefit1 introduces 2 extra claims for a newly diagnosed cancer, recurrence, metastasis or continuation of a previous cancer – each for up to extra 100% of the original sum assured, waiting period for a newly diagnosed cancer is just for 1 year
Cancer is not unbeatable, but recurrence or even a new cancer in another organ are real possibilities. In such unfortunate circumstances, the SS Plan’s multiple cancer benefit will offer extra payout if the insured meets the 14-day survival period and the related waiting period1 requirements. This benefit is up to 2 claims and each is equivalent to 100% of the original sum assured, allowing you to focus on recovery.
1 year waiting period:
new cancer (unrelated to the cancer in the preceding claim)
3 year waiting period:
(i) recurrence or metastasis of the cancer in the preceding claim; or
(ii) continuation of the cancer in the preceding claim despite having received or is receiving medically necessary and active treatment
Even after we pay out 2 claims under the multiple cancer benefit, your policy will remain effective until we pay out all claims in full under the multiple critical illness benefit.
Critical illness benefit2 – first critical illness claim before age 66 pays 180% of the original sum assured, and all subsequent premiums will be waived
An unexpected critical illness can threaten your well being and put your family under tremendous financial pressure. That is why the Series provides enhanced protection for critical illness benefit: if the insured is diagnosed with any covered critical illnesses before the policy anniversary immediately following the insured’s 66th birthday, the benefit amount is equivalent to 180% of the original sum assured. If the date of the diagnosis is on or after the policy anniversary immediately following the Insured’s 66th birthday, the benefit amount is equal to 100% of the original sum assured. In addition, the benefit amount includes terminal dividend (if any), less all indebtedness (if any) and benefit payouts under the policy (if any). The insured has to stay alive within 14 days from the date of diagnosis (both dates inclusive) in order to receive the benefit.
The critical illness benefit will terminate after one claim, but your policy will remain in effect, offering you continued protection through the multiple critical illness benefit , self-selected “critical illness” benefit (only applicable to SS plan) (if applicable), and multiple cancer benefit (only applicable to SS plan). We will also waive the undue premiums of the Series, so you can truly relax and recuperate.
If the insured passes away and has not claimed critical illness benefit, we will pay death benefit2, which is equivalent to the sum of 100% of the original sum assured and non-guaranteed terminal dividend3 (if any). The Series will be terminated thereafter.
Up to 4 additional claims under multiple critical illness benefit1, for up to 700% of the original sum assured in total
The Series offers a multiple critical illness benefit to support you in the troubling event of another illness. If the insured is diagnosed with another covered critical illness after a critical illness benefit claim, and the date of the diagnosis is at least 1 year after the diagnosis in the preceding claim (both dates inclusive) 1, and the insured is still alive within 14 days from the date of diagnosis (both dates inclusive), we will provide additional benefit. You can place up to 4 claims under multiple critical illness benefit for up to 700% of the original sum assured in total, providing added support so you can focus on your recovery.
Only one claim may be made for each covered critical illness. Standard Plan policies will terminate once you have made 4 claims under multiple critical illness benefit. For SS Plan policies, even if you have made 4 claims under the multiple critical illness benefit, the SS Plan policies will remain in effect provided that cancer has been claimed in the Series before and the multiple cancer benefit has not fully paid the 2 claims.
Special Disease Benefit – Each claim pays 20% of the original sum assured in advance; carcinoma-in-situ4 enjoys up to 2 claims
When it comes to critical illnesses, early treatment can be the key to a full recovery. This is especially true for early-stage conditions. 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 original sum assured in advance for such special disease. Covered special diseases are organized into 6 groups. Up to 2 claims can be made for carcinoma-in-situ under group 1, while 1 claim can be made for each of other groups, subject to a maximum limit of HKD 550,000/USD 68,750 or 95% of the original sum assured per insured, whichever is lower.
After we settle your claim under the special disease benefit, the payout amount will be deducted from the sum assured of the Series. Subsequent premiums and cash value will therefore be reduced pro rata. On the other hand, if we have paid the critical illness benefit, we will not pay out a subsequent claim under the special disease benefit. The total benefit amount of special illness benefit under all in force policies underwritten by China Life (Overseas) shall not exceed the said amount for the same insured.
Covers 138 illnesses, including critical illnesses and special diseases
The Series covers 138 illnesses, including 72 critical illnesses and 66 special diseases. These include common illnesses such as cancer, heart disease, stroke, carcinoma-in-situ and early malignancies.
For the details of the covered critical illnesses and covered special diseases, please refer to the “covered illnesses table”.
Protection until age 100 – including the multiple cancer benefit1 and multiple critical illness benefit1
Advances in medical science are contributing to an increase in average life expectancy. This is why all the benefits of the Series covers you up to age 100, including multiple cancer benefit and multiple critical illness benefit to enhance your protection, so there is no need to worry even during your golden years.
For the details of the benefits, please refer to the “benefit schedule”.
Combines savings elements and protection together
The Series is a participating plan, offering you comprehensive critical illness coverage and death benefit2, as well as potential returns with guaranteed cash value and non-guaranteed terminal dividend3 (if any), so that you can enjoy both protection and wealth accumulation.
Critical Illness Multiple Protector / Critical Illness Multiple Protector (SS)
|Critical Illness Protector
(the “Standard Plan”)
|Critical Illness Protector (SS)
(the “SS Plan”)
|Plan type||Critical illness plan|
|Premium payment term and issue age||
|Benefit term||To age 100 of the insured|
|Premium payment mode||Annual, semi-annual, quarterly, monthly6, annual and premium prepayment7|
|Policy currency||HKD or USD|
|Minimum sum assured||HKD100,000 or USD12,500|
- The critical illness the insured places a claim for “multiple cancer benefit” (applicable to the SS Plan only) or “multiple critical illness benefit” should also satisfy the requirements below:
- the insured must survive 14 days (both dates inclusive) following the date of the diagnosis of a critical illness. The date of the diagnosis of each critical illness must be at least 1 year apart (both dates inclusive);
- the insured is still alive within 14 days from the date of diagnosis (both dates inclusive), and subject to the following conditions: (i) a new cancer unrelated to the cancer which was previously paid: at least 1 year have passed between the date of diagnosis of the subsequent cancer and the date of diagnosis of the cancer which was previously paid under the Series (both dates inclusive); or (ii) (1) a recurrent or metastatic cancer related to the cancer which was previously paid; or (2) a persistent cancer continued from the cancer which was previously paid, provided that the insured has received or has been receiving medically necessary and active treatment by a specialist during the period between the date of diagnosis of the previous cancer and the date of diagnosis of the subsequent persistent cancer (both dates inclusive): at least 3 years have passed between the date of diagnosis of the subsequent cancer and the date of diagnosis of the cancer which was previously paid under the Series (both dates inclusive).
- All paid benefit amount (if any) and all indebtedness (if any) will be deducted when paying “critical illness benefit” and “death benefit”.
Terminal dividend is a one-off dividend and is non-guaranteed. Amount of terminal dividend shown in proposal illustration is just an indicative figure. Declared terminal dividend is not perpetually attached to the policy. It may be reduced or increased at subsequent declarations. Its actual amount will only be determined when it becomes payable. The actual amount may be lower or higher than the projected figure. Under some circumstances, actual amount of terminal dividend may be zero. The amount of the terminal dividend is affected by various factors including but not limited to the performance of the underlying investments, so the amount is relatively volatile and will move up and down over time. China Life (Overseas) reserves the right to revise the terminal dividend from time to time. Past record is not necessarily indicative of future result. For more information, please refer to clause 7 and clause 8 under “important information” and “non-guaranteed benefit” risk.The terminal dividend shall be paid upon the occurrence of the earliest of the following conditions:
- when the death benefit is paid;
- when the critical illness benefit is paid;
- the policy is surrendered; or
- the policy reaches the policy maturity date.
- The maximum number of claims for carcinoma-in-situ is 2 times. The second claim of a carcinoma-in-situ must be for a different organ from the first claim. 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.
- In addition to premiums, you have to pay policy fee of HKD200/USD25 (subject to policy currency) per year during the premium payment term.
- 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 premiums paid.
- 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.