Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Apr 2021

Product bites

Source: Asia Insurance Review | Mar 2021

AXA introduces life insurance plan with two-year premium payment term
AXA Hong Kong and Macau has launched its Wealth Ultra Savings Plan (2-year Pay) (Wealth Ultra).
 
Wealth Ultra offers a premium payment term of two years and an annual premium from $10,000, allowing customers to enjoy all benefits of the plan without the burden of a long-term financial commitment. Premiums are guaranteed to remain unchanged throughout the two-year period.
 
If customers choose to pay the two-year premium in full at the time of application, they can
 
Wealth Ultra also provides two types of non-guaranteed bonuses - the reversionary bonus and the terminal bonus. Starting from the sixth policy year, the total cash value is projected to double every 10 years on average; and from the 82nd policy year, the total internal rate of return for each policy year is expected to exceed 7%.
 
Customers can designate a contingent insured in advance, so in the event that the initial insured passed away, the designated contingent insured will become the new insured, and the pre-assigned portion of the policy value will be passed on accordingly for wealth accumulation. The remaining portion will be payable to the designated beneficiaries in the form of compassionate benefit for immediate financial support.

HSBC Life launches digital employee benefits solution
HSBC Life has launched a digital employee benefits solution, HSBC Life Benefits+, to commercial customers in Hong Kong, offering support for businesses to look after employees’ wellbeing and attract, incentivise and retain talent.
The product comes with a user-centric digital platform accessible via web or mobile for users to manage their wellness benefits and claims. Features include real-time tracking of benefit entitlements, usage and remaining balance, search for doctors/clinics, e-claims, e-health card as well as lifestyle assessment and tips.
 
The platform is also equipped with access to a health and wellness e-marketplace called Choices, where users can enjoy over 140 preferential offers for products and services from 18 partners at present. The latest addition to such offers includes special packages from Matilda International Hospital covering health assessment plans, eye check and vaccination programmes.
 
The product is available to companies with as few as two employees with flexible group coverage starting from HK$22 ($2.84) per annum per employee, and coverage rising up to HK$5m.

AXA partners Fi Life to launch online medical insurance plans
AXA Affin General Insurance (AXA) has partnered with Fi Life ? a Malaysian online life insurance platform - to offer online medical insurance complete with an e-medical card. The products offered are SmartCare Optimum and SmartCare Optimum Plus.
 
The plans feature annual limits for medical claims of MYR100,000 ($24,755) up to MYR2.1m.
 
Customers with certain prior medical issues will not be automatically rejected and will instead be asked for details of their medical issue and given the opportunity to upload their doctor’s or other medical report to see if they can still obtain medical insurance.
 
In these situations, their cases will be considered by AXA underwriters on an individual basis. If all uploaded documents are complete, AXA underwriters will be able to make a decision within five days. In addition, the Fi Life online underwriting system is flexible enough to give an acceptance with exclusions, or an acceptance with premium loading.
 
Further, customers of online SmartCare Optimum plans are able to opt to pay for the first MYR7,500, MYR10,000, MYR15,000 or MYR20,000 of medical expenses in return for a 25% to 50% discount on premiums.
 
These plans are suitable for customers who already have a basic medical plan through their employers but wish to supplement their employer plan with their own individual plan. A 
 
Do you have a new product or programme, or are you using the power of technology innovatively? 
Share your product news with us: editor@asiainsurancereview.com
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.