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AXA launches CareForAll Hospital Cash Plan to foster proactive care and alleviate financial concerns associated with hospitalisation

AXA Hong Kong & Macau
2024-07-03 16:52 2462

Enjoy "CareForAll Hospital Cash - First Year HKD1 Supplement" by successfully purchase designated plans

HONG KONG, July 3, 2024 /PRNewswire/ -- AXA Hong Kong and Macau (AXA) announced the launch of its new "CareForAll Hospital Cash Plan" ("the plan"), including daily hospital cash benefit, to support customer every step of the way. This plan is coupled with a relaxed underwriting1 process, ensuring that customer can focus on their well-being without added stress.

Customer only needs to answer three simple health underwriting questions mostly focusing on their health conditions of the past two years. Moreover, there is no need to perform any medical examinations1. HKD1,000 daily cash will be provided as Hospital Income Benefit while they are staying in the hospital as an in-patient2 (up to 120 confinement days per policy year). The plan offers appropriate coverage with key features such as covering the confinement resulting from pre-existing condition(s) from the 3rd policy year onwards3, guaranteed annual renewal with coverage until the insured reaches the age of 1004 and complimentary medical check-up5. Meanwhile, apart from choosing "CareForAll Hospital Cash Plan" as a standalone basic plan, customer can also purchase "CareForAll Hospital Cash Supplement" as a supplement to designated individual life insurance or medical insurance basic plans. This supplementary option provides greater flexibility in terms of protection choices.

In addition, there is also an option of first year HKD1 supplement. By successfully purchase designated plans6, customer can apply for the "CareForAll Hospital Cash – First Year HKD1 Supplement". This supplement provides identical coverage7 as "CareForAll Hospital Cash Supplement", with a premium of only HKD1 for the 1st policy year.

Janet Lee, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, said: "Having good health is not something to be taken for granted, but everyone deserves appropriate and reliable protection to alleviate financial pressures during hospitalisation. Last year, we introduced the 'CareForAll Critical Illness Plan', offering comprehensive health value-added services to encourage customers to adopt healthier lifestyles. This year, we continue our commitment to providing customers with appropriate and reliable protection by launching an enhanced hospital cash plan and covering the confinement resulting from pre-existing condition(s) from the 3rd policy year onwards3. AXA will continue to actively listen to customers' health management needs and continuously improve our products."

Key features of "CareForAll Hospital Cash Plan":

  • Hospital Income Benefit of HKD1,000 per day2: In the unfortunate event of hospitalisation, the Plan is designed to offer HKD1,000 daily cash as Hospital Income Benefit while customers are staying in the hospital as an in-patient for up to 120 confinement days per policy year to guarantee customer have source of income during hospitalisation. If hospitalisation overseas (outside of Hong Kong, Macau, or mainland China) is required, a 50% adjustment will be applied and customers will be offered HKD500 daily cash for each day of confinement under Hospital Income Benefit, ensuring customers receive assistance during the hospital stay, regardless of the location.
  • Relaxed underwriting requirements1for better access of coverage: With inclusivity being its core objective, the Plan is devoted to making access to the plan as easy as possible. To apply, customers only need to answer three health underwriting questions mostly focusing on their health conditions of the past two years. Moreover, there is no need to perform any medical examinations, further simplifying the application process.
  • Coverage for pre-existing conditions from the 3rd policy year onwards3: To further support customers to prioritise their recovery and well-being, the Plan will cover the confinement resulting from pre-existing condition(s) from the 3rd policy year onwards, providing more comprehensive protection for customers' health.
  • Guaranteed renewal covering up to age 1004: The Plan comes with the assurance of annual renewal8 covering up to insured's age of 1005, regardless of customers' claims record under the Plan and any subsequent changes in the health condition, alleviating customers' concerns about policy renewal.
  • Free medical check-up5 to foster proactive care: Committed to providing comprehensive care, the Plan is also concerned about customers' preventative care and overall well-being. To encourage proactive health measures, AXA provide a one-time complimentary medical check-up. Regardless of the check-up results, customers will receive a medical check-up bonus equivalent to a 10% premium rebate of that policy year's premium. The check-up bonus can be used to pay future premiums of your policy, ensuring that customers' commitment to good health is rewarded and supported.

For more information about "CareForAll Hospital Cash Plan", please visit: https://www.axa.com.hk/en/care-for-all-hospital-cash-plan 

The above information is for reference only. For details on product features, content, terms and exclusions, please refer to the product brochure and policy provision.

1 Your application is subject to the Company's underwriting requirements and any other requirements from time to time. We may require you to provide further information and satisfactory proof to us for our assessment. All matters and disputes are subject to the final decision of AXA.

2 Hospital Income Benefit is payable for up to 2,000 days per policy. For confinement in mainland China, this benefit will only be payable if the confinement is at a Recognised Hospital. "Recognised Hospital" means any hospitals formally assessed and rated by the Ministry of Health of the People's Republic of China as a "third-level first-class" hospital and / or hospital(s) approved or designated by us. If the confinement is in a place other than Hong Kong, Macau or mainland China, a 50% adjustment factor shall be applied to the amount payable under Hospital Income Benefit for each day of confinement. The maximum number of covered days for each confinement resulting directly or indirectly from mental illnesses, psychological or psychiatric conditions will be 90 days. For such confinement resulting directly or indirectly from mental disorder, psychological or psychiatric conditions in mainland China, the Hospital Income Benefit will only be payable if it is diagnosed and confined in a public hospital. No benefit will be paid under Hospital Income Benefit in respect of any day in which the insured has taken any leave from the hospital. Any outstanding premiums will be deducted from the benefit payable.

3 Even the insured has the pre-existing condition(s), he / she can be covered under CareForAll Hospital Cash Plan / CareForAll Hospital Cash Supplement / CareForAll Hospital Cash - First Year $1 Supplement provided that he / she passes the underwriting questions. For relevant requirements, terms and conditions, please refer to the complete underwriting questions.

4 The term "age 100" means, if the policy anniversary falls on the same month and day as the insured's birthday, the policy anniversary on the insured's 100th birthday.  If otherwise, it means the policy anniversary immediately following the insured's 100th birthday.

5 CareForAll Hospital Cash Plan / CareForAll Hospital Cash Supplement provide the one-time free medical check-up in the 1st policy year. The amount of medical check-up bonus is equivalent to 10% of the annualised premium for the 1st policy year. CareForAll Hospital Cash - First Year $1 Supplement provide the one-time free medical check-up in the 2nd policy year. The amount of medical check-up bonus is equivalent to 10% of the annualised premium for the 2nd policy year. The medical check-up bonus will be credited to the future premium deposit account ("Account") after the end of the respective policy years. At the relevant policy anniversary of CareForAll Hospital Cash Plan / CareForAll Hospital Cash Supplement / CareForAll Hospital Cash - First Year $1 Supplement, AXA will apply all or part of the medical check-up bonus (as the case may be) in the Account to offset the future premium of the corresponding policy for the next policy year or the policy years afterwards from time to time as AXA deems appropriate. The medical check-up bonuses shall not be withdrawn from the Account. If the relevant CareForAll Hospital Cash Plan / CareForAll Hospital Cash Supplement / CareForAll Hospital Cash - First Year $1 Supplement is terminated, cancelled or not renewed for whatever reasons, the unused medical check-up bonuses in the Account will be forfeited and cancelled.

6 Purchase any designated individual life insurance basic plan with a total annualised first-year premium of such basic plan and its supplement(s) (if applicable) of HKD5,000 or above (or its equivalent in foreign currency); or purchase any basic plan of AXA WiseGuard Pro Medical Insurance Plan, AXA WiseGuard Medical Insurance Plan, WiseProtect Pro Medical Insurance PlanSmart Start Medical Insurance or Smart Medicare.

7 The coverage of CareForAll Hospital Cash Supplement and CareForAll Hospital Cash - First Year $1 Supplement is identical, except for differences in the issue age and availability of the free medical check-up. For more details, please refer to the sections of "CareForAll Hospital Cash Plan / CareForAll Hospital Cash Supplement / CareForAll Hospital Cash - First Year $1 Supplement at a glance" and "Benefit schedule" in the product brochure.

8 Subject to the terms and conditions of the policy contract, you have a guaranteed right to renew CareForAll Hospital Cash Plan /CareForAll Hospital Cash Supplement / CareForAll Hospital Cash - First Year $1 Supplement. We will notify you reasonably in advance of the policy anniversary of the amount of the prevailing premium for the purposes of the renewal.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 51 markets and serving 94 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers' needs and leveraging and investing in technology and digital transformation.

We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles - as an investor, insurer and an exemplary company.

THIS PRESS RELEASE IS AVAILABLE ON AXA'S WEBSITE: AXA.COM.HK

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA's actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 - "Risk factors and risk management" of AXA's Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA's business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.
Source: AXA Hong Kong & Macau
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