Chubb Life launches flexible critical illness cover in Hong Kong
HK01 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Chubb Life has launched its “My Kind of Guard” critical illness insurance series in Hong Kong, positioning it as a market-first product designed to address high medical costs and varied health conditions. For healthy customers, the plan offers total protection of up to 800% of the sum insured through flexible severe illness payout options. The series also includes reimbursement for eligible self-financed drugs and medical items related to cancer, heart disease and stroke, alongside benefits for reconstructive treatment and advanced-stage critical conditions. Separate “Cancer Recovery”, “Heart Recovery” and “Diabetes Recovery” plans use simplified underwriting to serve people who have recovered from illness or whose conditions are stable
Key Points
- For healthy applicants, the plan can provide total coverage of up to 800% of the sum insured through two severe illness benefit options
- The “Cash Reserve Benefit Option” offers an extra 100% of the sum insured, while the “Ongoing Protection Option” supports up to five multiple severe illness claims
- The series reimburses eligible self-financed drugs or medical items for cancer, heart disease and stroke, capped at 20% of the sum insured or US$62,500
- An additional appearance restoration benefit pays 20% of the sum insured for cancer-related reconstructive surgery and treatment side effects, with a lump-sum continuing care benefit for advanced major illnesses
- Chubb Life said customers with relevant medical histories may unlock up to 300% total coverage by submitting qualifying health reports, without extra premium
Why It Matters
The product targets a practical gap for Hong Kong patients whose existing medical insurance may not fully cover self-paid drugs, treatment items and recovery support after a major illness. It also points to growing competition in insurance products for people who were previously more likely to face exclusions, rejection or higher premiums because of past cancer, cardiovascular disease or diabetes