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AXA launches 'CritiPartner Plus Critical Illness Plan'

Another breakthrough in critical illness protection
No waiting period for Stage III/IV cancer patients
Immediate and continuous monthly payout up to 5.5 years
2019-06-20 18:43 2742

HONG KONG, June 20, 2019 /PRNewswire/ -- According to the Hospital Authority's cancer data revealed in 2016, colorectal cancer ranks number one amongst the 'Ten Most Common Cancers in Hong Kong', while lung cancer is the 'Number One Killer' with the highest mortality rate. Fortunately, advancements in medical technology and early cancer treatment can greatly enhance the survival rate of patients, despite the fact that in many cases no obvious symptoms of colorectal cancer or lung cancer in an early stage can be diagnosed. Hence, AXA Hong Kong commissioned market research firm Edelman Intelligence to conduct an online survey of 1,000 Hong Kong people aged 18 or above in May this year to learn about their preparation and views on critical illness.

AXA Hong Kong has announced the launch of the CritiPartner Plus Critical Illness Plan (‘CritiPartner Plus’), which especially highlights no waiting period required for Stage III/IV cancer patients. In addition to paying 100% of the sum insured in a lump sum, Stage III/IV cancer patients will receive immediate and continuous monthly payouts for up to 5.5 years.
AXA Hong Kong has announced the launch of the CritiPartner Plus Critical Illness Plan (‘CritiPartner Plus’), which especially highlights no waiting period required for Stage III/IV cancer patients. In addition to paying 100% of the sum insured in a lump sum, Stage III/IV cancer patients will receive immediate and continuous monthly payouts for up to 5.5 years.

Over 60% of Hong Kong people said that "Suffering from Critical Illness" is one of the top worrying unfortunate events in life

According to the survey data, over 60% (62%) of Hong Kong people said that "Suffering from Critical Illness" is one of the top worrying unfortunate events in life, followed by "Sudden death of family member/loved ones" (48%) and "Spouse/partner suffering from critical illness" (44%). Further, 44% of Hong Kong people who worry about "Suffering from Critical Illness" said that "Unable to afford the long-term care/medical treatment after" is one of the biggest worries if they are diagnosed with a critical illness. Nearly 30% (28%) of Hong Kong parents will stop work or take long term leave from their current job if their children are found to have a critical illness. For Hong Kong parents, if they are diagnosed with critical illness, 33% will seek treatment at a private hospital. Yet, 42% will seek treatment at a private hospital if it is their children that are diagnosed with critical illness. These results reflect that continuous financial assistance and support for caregivers are very crucial.

All-round protection against cancer

As a trusted lifelong partner to its customers, AXA Hong Kong is committed to providing cancer patients with comprehensive protection for critical illness. AXA Hong Kong has announced the launch of the CritiPartner Plus Critical Illness Plan ('CritiPartner Plus'), which especially highlights no waiting period required for Stage III/IV cancer patients. In addition to paying 100% of the sum insured in a lump sum, Stage III/IV cancer patients will receive immediate and continuous monthly payouts for up to 5.5 years. Additionally, the plan enhances support for children with diseases related to congenital conditions undetected at the time of policy application. It also supports caregivers by providing monthly payouts as financial assistance for families that need to take time away from work to provide care for an insured child. Other upgraded benefits extend to the protection of minor illnesses related to chronic diseases, and allow multiple claims for 59 major illnesses, such as heart attack and stroke and many others, providing customers with more all-round protection for the insured person up to the age of 85.

'AXA Hong Kong is committed to providing customers with comprehensive protection against health challenges, from minor to major conditions. The latest 'CritiPartner Plus' does not require a waiting period for Stage III/IV cancer patients, providing them monthly payout when most needed. Further, protection is enhanced for children with diseases related to congenital conditions and in terms of offering financial support to caregivers, allowing them to take time away from work and provide care for their families,' said Mr. Kevin Chor, Chief Life Product & Commercial Development Officer of AXA Hong Kong and Macau

No waiting period for Stage III/IV cancer patients | Total cancer coverage up to 425% of sum insured | Safeguarding your health with immediate support benefit |

On top of the protection for over 131 common critical illnesses and the "Continuous Cancer Payout Benefit", 'CritiPartner Plus' does not require a waiting period to initiate protection for Stage III/IV cancer patients. For Stage I/II cancer patients, AXA Hong Kong will provide continuous monthly financial support just 1.5 years after the diagnosis of cancer if they are still suffering from cancer and receiving cancer treatment, which equates to 5% of the sum insured as income replacement. Together with the lump sum cash benefit, 'CritiPartner Plus' provides Stage III/IV cancer patients with immediate and continuous monthly payout for up to 5.5 years. The total cancer coverage is up to 425% of the sum insured, ensuring them with financial support in their battle against cancer.

Enhanced support for child patients | Monthly payout for caregivers to ease family financial burdens

Support from parents and family members is crucial for children especially when they are suffering from a critical illness. With medical costs on the rise, finances may become tighter or even threatening to the family's wellbeing. 'CritiPartner Plus' provides a Caregiver Benefit, offering additional monthly payment to support parents for the necessary expenses when they stop or reduce work temporarily to take care of their children who are suffering from a critical illness. If, unfortunately, the parent who owns the policy passes away at or before age 75, and at the time of such parent's death the insured child is below age 18, AXA Hong Kong will keep the insured child protected by waiving the premium until he or she reaches age 25. To help shield the family against future setbacks, 'CritiPartner Plus' also provides full coverage for illnesses related to congenital conditions which are undetected at the time of policy application.

Additional features of 'CritiPartner Plus':

  • Double benefit for minor Illnesses related to chronic diseases: Diverse protection is provided including additional payout of up to 40% of the sum insured for minor illnesses related to chronic diseases like diabetes, gout and fatty liver.
  • Multiple Claims for major illnesses: Multiple claims will be covered for 59 major illnesses including cancer, stroke and heart attack -- with total coverage up to 900% of the sum insured for the insured person up to age 85.

To know more about 'CritiPartner Plus', please visit: https://www.axa.com.hk/en/critical-illness-critipartnerplus-campaign.     

The above information is for reference only. For details of the product features, content, terms, conditions and exclusions, please refer to the relevant product manual.

ABOUT AXA HONG KONG AND MACAU

AXA Hong Kong and Macau, a member of the AXA Hong Kong Group, prides itself on serving over 1.3 million customers [1] in the region. In addition to being the #1 global Property & Casualty commercial lines insurer [2], we have also been the #1 insurance brand worldwide for ten consecutive years [3]. In Hong Kong and Macau, we are also one of the largest health protection providers.

'Empowering people to live a better life' is the goal of AXA Hong Kong and Macau, which is reflected in everything we do. We are one of the most diversified insurers, providing a full range of coverage for individual and commercial customers. We offer all-round, integrated solutions across Life, Health and Property & Casualty to address all their insurance needs.

As an innovative insurer, we leverage on Big Data and AI to transform the customer experience end-to-end, making insurance simpler and more personal. We continue to drive innovation notably in health and protection, supporting customers in prevention, treatment and recovery.

We also believe it is our inherent responsibility to support the communities in which we operate. AXA HONG KONG Foundation is our flagship corporate social responsibility programme covering all of our efforts in promoting health, education and community support to create a positive and lasting impact in Hong Kong and Macau.

[1] Including customers of AXA Hong Kong China Region Insurance Company Limited, AXA Hong Kong China Region Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability), and AXA Hong Kong General Insurance Hong Kong Limited

[2] AXA Hong Kong Corporate Solutions, AXA Hong Kong Matrix Risk Consultants, AXA Hong Kong Insurance Company, and AXA Hong Kong Art with AXA Hong Kong XL's insurance and reinsurance operations combined 

[3] Interbrand Best Global Brand 2018 (By brand value)

THIS PRESS RELEASE IS AVAILABLE ON AXA HONG KONG'S WEBSITE: AXA.COM.HK || FOR MORE INFORMATION:

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, expectations 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 HONG KONG's actual results to differ materially from those expressed or implied in such forward-looking statements. Please refer to Part 4 - "Risk Factors and Risk Management" of AXA HONG KONG's Registration Document for the year ended December 31, 2017, for a description of certain important factors, risks and uncertainties that may affect AXA HONG KONG's business and/or results of operations. AXA HONG KONG 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 required by applicable laws and regulations.

Photo - https://photos.prnasia.com/prnh/20190620/2503594-1

Source: AXA Hong Kong
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