AIA Hong Kong today announced the launch of “Cancer Guardian” series, with two cancer reimbursement medical plans, namely, “Cancer Guardian Plus” and “Cancer Guardian”. With premium as low as a few Hong Kong dollars per day*, customers can enjoy a full range of protection benefits for the treatment of cancer, including cancer diagnostic tests, cancer treatment, reconstructive surgery and post-treatment monitoring. The “Cancer Guardian” series covers all stages of cancer (including carcinoma-insitu) and complications of cancer. The plan will reimburse cancer treatment expenses incurred from hospitalisation (in semi-private room level) or outpatient care. The limit Per Covered Cancer is up to HK$1 million, while lifetime cancer protection is HK$3 million. In addition, “Cancer Guardian Plus” is unique for its market-first “Target Protection Benefit”. If a customer is diagnosed with any Covered Cancer classified as stage four or a target cancer, the limit Per Covered Cancer is increased by an additional 50%.
Cancer is the No.1 killer in Hong Kong. Figures reveal that one in four men and one in five women in Hong Kong are at risk of contracting cancer before the age of 751. Over the last decade, close to 40% of cancer patients were aged 60 and below2, indicating the alarming trend that more people are contracting cancer at a younger age.
Mr. Jacky Chan, Chief Executive Officer of AIA Hong Kong and Macau, said, “Treatment costs for cancer are extremely high and the road to recovery is considerably long, presenting a long-term and heavy financial and psychological burden on cancer patients and their families. As the real partner of our customers throughout their journey of life, AIA fully understands their concerns and needs. We are launching the new ‘Cancer Guardian’ series with the aim of providing all-round and comprehensive coverage to care for cancer patients with benefits also applicable to their family members. The new series furthers AIA’s commitment to walk handin-hand with our customers and their loved ones as they navigate through the difficulties in life. It also delivers on our brand promise as ‘The Real Life Company’ by offering customers additional peace of mind.”
Key features of the new “Cancer Guardian” series include:
Jason is a non-smoker, aged 40. Assuming he purchases “Cancer Guardian Plus” with an annual premium of HK$1,325 for the first year, the premium is less than HK$4 per day*. The limit Per Covered Cancer is up to HK$1 million, while the lifetime cancer protection is HK$3 million. If Jason is unfortunately diagnosed with colorectal cancer, the estimated total medical expenses would amount to approximately HK$0.73 million8. He will be reimbursed for actual medical expenses including diagnostic benefit, cancer treatment benefit, medication and monitoring benefit. If Jason is diagnosed with lung cancer at the age of 484 and the cancer subsequently develops to stage four, the plan provides him with an extra 50% of cancer coverage (the limit Per Covered Cancer will be increased from HK$1 million to HK$1.5 million) to fully cover the estimated total medical expenses of approximately HK$1.23 million8.
Customers whose applications for “Cancer Guardian” series / “Cancer Guardian Pearl” series9 will be eligible for a premium refund:
For comprehensive coverage, customers may apply for designated AIA Hong Kong’s critical illness protection products including “Smart Care Pro”, “Multiple Care Pro 2”, “Executive Care Pro 2” or “Prime Care Pro” between now and 30 April 2015 and be eligible for a one-month premium refund.
About AIA Hong Kong and AIA Macau
AIA Hong Kong and AIA Macau are subsidiaries of AIA Group Limited, who established its operations in Hong Kong in 1931. We have the largest team of financial planners in Hong Kong and Macau*, now over 10,000, as well as an extensive network of IFA, brokerage and bancassurance partners, who serve around 1.78 million customers. Our products range from individual life, group life, accident, medical and health, personal lines insurance to investment-linked products with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high net worth customers.
* As of 31 December 2014
AIA Group Limited and its subsidiaries (collectively “AIA” or “the Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has operations in 17 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines,
Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint-venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region (excl. Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$159 billion as at 31 May 2014.
AIA meets the savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. AIA currently serves the holders of more than 28 million individual policies, more than 120,000 corporate clients and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
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