Manulife HK unveils new critical illness coverage with non-conventional treatment support
Manulife HK unveils new critical illness coverage with non-conventional treatment support | Insurance Business Asia
Life & Health
Manulife HK unveils new critical illness coverage with non-conventional treatment support
The new proposition also addresses child mental disorders such as ADHD
Life & Health
By
Kenneth Araullo
Manulife Hong Kong has announced a new offering with extensive coverage for up to 123 critical illnesses and diseases up to the age of 100, alongside extra support for overseas and non-conventional treatment for late-stage cancer.
The policy, called Manulife Bright Care PRO, was designed to cater to the diverse needs for critical illness coverage, particularly more effective management of late-stage cancer. It is the first policy of its kind to offer a late-stage cancer treatment benefit that provides financial support for overseas treatment as well as off-label or clinical trial cancer drug treatments when conventional means do not work well or come with intolerable side effects.
The offering also comes with coverage for 19 juvenile diseases to address the growing prevalence of child mental disorders such as autism, Tourette syndrome, and ADHD – the latter of which affects 6.4% of children in Hong Kong.
The plan also comes with a parental compassionate premium waiver that provides that – without requiring a body check or answering health questions – if the policyholder were to pass away before or at the age of 75, and if his/her child is the life insured, premiums will be waived until the life insurer reaches the age of 25.
Customers can also get incentivized to exercise more through the company’s premium discount program, ManulifeMOVE. New members who achieve the required daily step average will be eligible for discounts on premiums, for up to 10%.
“With surging medical costs and the financial burden posed by critical illnesses, it is crucial for people to have access to affordable and comprehensive protection for both themselves and their loved ones,” said Danny Lee (pictured), chief product officer for Manulife Hong Kong and Macau.
“According to the recent Manulife GBA Health Protection Survey, Hong Kong consumers face the burden of allocating a significant portion of their average monthly income to cancer treatment, revealing the pressing need for affordable yet comprehensive critical illness coverage. Our new plan aims to fill this need by providing a range of features that offer customers the financial support they need to choose their most suitable cancer treatment and recovery options.”
The insurer also recently announced that it has expanded its designated China hospital network, raising its 1,700-strong system to over 3,000 listed hospitals across the mainland.
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