FTLife launches MediSave Medical Account to keep pace with rising health care costs while growing wealth

HONG KONG, Aug. 9, 2017 /PRNewswire/ -- Unaffordable medical expenses are often the first consequence when a critical illness such as cancer or heart disease strikes, so FTLife has responded by launching the MediSave Medical Account. This helps customers prepare for the possibility that serious illness could strike a breadwinner, or other family member, at any time.

FTLife unveils the new MediSave Medical Account to provide policyowners with all-round medical protection up to age 128

MediSure provides all-round medical protection that includes cover for hospitalisation and surgical treatment up to the unusually high age of 128 years, after premiums have been paid for a limited period. In addition, an inflation protector option, plus family and health bonuses, help hedge against the ever-soaring cost of medical expenses. It also reimburses the cost of treatments after a hospital stay.  An overriding MediSave feature is that comprehensive medical coverage is provided at the same time as helping the policyholder to grow wealth.

Regional CEO and CEO Lennard Yong said: "As a caring company, we aim to provide customers with comprehensive health-protection offerings that are also highly competitive with first-in-market product features. This enables our customers and their loved ones to lead fulfilling lives with the comfort of extra peace of mind."

Three distinctive advantages provide extra medical protection

• First-in-market¹ "Family Bonus" -- the policyholder can enrol with family members so that every insured person gets extra medical benefit of up to 20% of the sum insured².
• First-in-market¹ "Health Bonus" equals 3% of the sum insured² for every three years -- payable as extra medical benefit -- if no medical benefit claim is made during the three-year period (no cap).
• The plan's inflation protector option raises the sum insured every year³ to help hedge against inflation of medical expenses. 

Chief Product Officer Christine Yeung said: "Our first-in-market Family Bonus and Health Bonus have been crafted to provide our valued customers with extra medical benefit at no cost. These, together with the inflation protector option, amount to extremely helpful ways of keeping pace with soaring medical costs."

Pay premiums for a limited number of years to get medical protection until age 128 

MediSave has been designed for anyone aged 70 or younger -- but extended protection is provided up to the unprecedented upper limit of 128 years. Even greater flexibility is offered in the form of premium payment periods ranging from 15 to 20, 25 or 30 years -- all to suit a policyholder's financial standing. In addition, premium prepayment options of one, five or eight years are applicable to policies based on a 15-year premium payment period. Premium prepayment secures protection at lower cost, while building a safety net for policyholders and their loved ones.

Simultaneous protection and wealth accumulation

MediSave's guaranteed cash value grows over the years until reaching 100% of the sum insured². And a terminal dividend⁴ will be paid in the event of the insured's death, or when total medical benefits paid reach 100% of the sum insured plus extra medical benefits (if any) ², or on surrender of the policy, or at maturity. A great overriding feature of MediSave is that comprehensive medical coverage is provided while helping the policyholder to grow wealth.

Chief Marketing Officer Angela Yam said: "FTLife has adopted the role of 'health manager' in the best interests of our customers, so the plan provides discount determined by size, in terms of the entire premium payment period chosen. The result facilitates sufficient protection for a lower premium. And enrolling with family members entitles you to up to a 20% refund on the first year's premium⁵."

Remarks:

1. Among medical savings insurance plans of the same type
2. The sum insured includes the base sum insured plus the additional sum insured after inflation protector option (if any). Extra medical benefits are the protection in Family Bonus account and Health Bonus account (if any).
3. The sum insured and plan units will increase automatically on every policy anniversary during the indexation period. Premium and the maximum benefit limit in the benefit table will be adjusted accordingly. The policyowner may request cancellation of such right. This inflation protector option will expire if the increased premiums are not settled in full for two consecutive policy years. The right cannot be reinstated once cancelled or expired.
4. Terminal dividend is not guaranteed.
5. For details, please refer to the relevant client incentive leaflet.

Important notes:

• The information contained in this document is intended as a general summary for reference only. For details, please refer to the relevant product brochure and client incentive leaflet. Please refer to policy provision for details of full terms and conditions.
• For further details, please contact FTLife's Customer Service Hotline on +852-2866 8898.
• This document is solely for distribution in Hong Kong. It is not an offer to sell, solicitation to buy, or intention to provide any insurance product outside Hong Kong. FTLife does not offer, nor sell, any insurance product in any non-Hong Kong jurisdiction, where such an offering, or sale of such an insurance product, would be illegal under local laws.  

Media inquiries

FTLife Insurance Company Limited 
Branding, Marketing & Communications  
Tel: +852-2591-8888  
Email: ftlhk.mkt@ftlife.com.hk

About FTLife Insurance Company Limited

FTLife Insurance Company Limited ("FTLife") is one of Hong Kong's largest life insurance companies and a wholly-owned subsidiary of Tongchuangjiuding Investment Management Group Co., Ltd. ("JD Group"). Capitalising on a heritage of professionalism and excellence in serving clients, FTLife seeks to become a leading insurance group in Asia. It serves individual and institutional clients from a diverse portfolio of financial protection and wealth management products. FTLife aims to excel by cultivating lasting relationships and dedicates itself to providing clients with best-of-breed financial services to help them lead fulfilling lives.

About JD Group

Headquartered in Beijing, JD Group has offices in China, North America and other parts of Asia. The Group runs companies in the financial services industry and is engaged principally in investment, Internet finance, and insurance. One such business is JD Capital, a China-based leader in private equity investment. The Group aspires to become an insurance-centric financial asset management platform operating on a global scale.

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