HONG KONG, Aug. 23, 2021 /PRNewswire/ -- With the increasing popularity of overseas study, AXA Hong Kong ("AXA") and HSBC launch a new insurance plan "Overseas StudySurance" to provide extensive care for students getting education abroad. With annual premium as low as HKD4,000, students can enjoy the comprehensive protection away from home with the following premium features:
From now until 31 October 2021, customers purchasing "Overseas StudySurance" via HSBC website or HSBC branch will be entitled to a 10% premium discount in perpetual, applicable to policy inception and renewal afterwards; and HKD200 YATA gift certificate for each policy. Students who are Hong Kong residents and aged between 10 and 40 can be covered.
Kenneth Lai, P&C Distribution Director, AXA Hong Kong and Macau, said, "Education is the key to success. Many parents would provide their children with the best education by letting them study abroad. However, the best protection is also essential to ensure a holistic support and care during their overseas study journeys. As the largest general insurer in Hong Kong[1], we are delighted to partner with HSBC to offer the comprehensive student protection 'Overseas StudySurance' - a plan with market-leading medical expenses and personal accident coverage, to provide peace of mind for students and their parents when they pursue their overseas studies."
Daisy Tsang, Chief Distribution and Customer Officer, Hong Kong, HSBC Life, said, "The global outbreak of the COVID-19 pandemic has raised parents' awareness of the importance of comprehensive protection against unexpected situations for their children who are studying abroad. HSBC is pleased to collaborate with AXA to launch an affordable insurance plan to offer peace of mind to parents who are geographically distant from their children studying in overseas institutions. The insured students will enjoy multi-dimensional coverage for their medical wellness, personal belongings, as well as leisure travels or internships during the study trip, enabling them to focus on making the most of their overseas learning experience."
Comprehensive protection with the top-notch medical and accidental coverage
"Overseas StudySurance" provides the top-notch medical expense coverage up to HKD2,500,000 including in/out-patient overseas medical treatment occurring during the study trip and follow-up medical expenses in Hong Kong within 90 days of insured student's return from abroad. Medical expenses for vaccine-preventable diseases[2] will also be covered. "Overseas StudySurance" also brings extensive personal accident protection to the insured students with coverage up to HKD1,200,000 for accidental death or permanent disablement.
Not only covering the city of study, "Overseas StudySurance" offers worldwide coverage in which internships are arranged or endorsed by the overseas education institution and incidental travels during the study trip as well as a non-manual part-time job outside Hong Kong. Conventional travel and various sports such as cycling, snow skiing, hiking, horse-riding, canoeing, rafting, windsurfing, scuba diving are also covered.
Immediate support to insured and family during emergencies
AXA and HSBC understand the stress for parents and students in case of emergencies abroad and tailored protection such as emergency family reunion and travel inconvenience are provided to alleviate the financial and mental stress. If the insured student is hospitalised for more than five consecutive days or in the unfortunate event of the insured student's death, "Overseas StudySurance" covers up to HKD100,000 for 2 parents' or legal guardians' transportation and accommodation expenses for emergency family reunion, and offers HKD2,500 cash benefit for parents and legal guardians who take annual leave to visit the insured students.
Regardless of situations, it is always important for students to finish the curriculum especially when they are studying abroad. If the insured student's parent or legal guardian suffers from accidental death or permanent disablement, an education fund up to HKD300,000 will be given to the insured student to ensure the continuation of his/her studies.
Moreover, "Overseas StudySurance" offers maximum HKD20,000 per trip for the irrecoverable transportation and accommodation expenses if the trip is cancelled or curtailed due to insured events.
Overseas home contents and personal belongings are widely secured
"Overseas StudySurance" provides protection to insured students' overseas home contents with coverage up to HKD10,000 and HKD20,000 personal belongings including mobile phones and laptops on a worldwide basis (except in Hong Kong) during the study trip. Temporary accommodation expenses up to HKD5,000 will be reimbursed if the overseas residence is damaged and rendered uninhabitable as a result of insured events.
It also offers the storage cost for personal belongings up to HKD2,000 if the insured student needs to make an emergency departure, and cash allowance up to HKD2,000 for unexpected school closure for more than 3 consecutive days because of natural disaster or as mandated by local authority.
To learn more about the 'Overseas StudySurance', please visit: https://www.hsbc.com.hk/insurance/products/travel/overseas-studysurance/
The above information is for reference only. For details on the product features, content, terms and exclusions, please refer to the product brochure.
[1] According to the Insurance Authority Provisional Statistics on Hong Kong General Insurance Business in 2020 |
[2] Medical expenses and worldwide emergency assistance service are not covered if a claim is due to a vaccine-preventable disease, where (i) the insured student fails to obtain the related vaccine and (ii) such vaccine is mandatorily required by the government(s) of Hong Kong SAR and/or the country/region the insured student is travelling to/from during the study trip. |
AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 54 markets and serving 105 million customers worldwide. Our purpose is to act for human progress by protecting what matters.
As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.
At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.
We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform "AXA BetterMe", which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.
The Hongkong and Shanghai Banking Corporation Limited
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,976bn at 30 June 2021, HSBC is one of the world's largest banking and financial services organisations.
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