Manulife Hong Kong has unveiled a product that offers coverage against 112 critical illnesses and diseases.
ManuVital Care is tailored for those looking for critical illness protection and financial flexibility, such as younger generations at the earlier stages of their careers.
Wilton Kee, chief product officer for individual financial products at Manulife Hong Kong, said: “With healthcare costs on the rise, it is important to have adequate critical illness protection that can provide customers with peace of mind.
“With critical illnesses striking at a younger age, appropriate protection becomes even more important.
“ManuVital Care offers customers financial safety net should critical illness strike, while providing them with an option to convert to a more comprehensive critical illness plan on the fifth policy anniversary.”
Features
ManuVital Care provides extended protection against major critical illnesses, including cancer, heart attack and stroke, as well as early-stage critical illnesses, such as carcinoma-in-situ and early thyroid cancer, up to age 100.
It also covers juvenile diseases, such as severe asthma, up to age 18.
Also, depending on their financial circumstances, clients can choose the level or step-up premium plan.
Level premium is guaranteed and will not increase throughout the payment period. It is available to customers who pay their premiums over 10, 15, 20 and 25 years, or up to the age of 65 of the life insured.
Step-up premium is lower and fixed during the first 15 years of the policy. After that, it will increase to a guaranteed, pre-determined amount, which will remain unchanged afterwards.
It is available to customers who pay their premiums up to the age of 65 of the life insured. Regardless of which option is chosen, it is guaranteed at the time the plan is taken up, even if the insured person’s health condition changes.
Conversion
Customers also have the option to convert to a more comprehensive critical illness plan and can exercise this on their 5th policy anniversary without the need to provide Manulife any additional health information.
This is as long as no benefits have been paid under this plan and no critical illnesses have been diagnosed before the conversion is approved.
The plan also offers a range of other features; including the inflation protector option, guaranteed death benefit, guaranteed cash value, maturity benefit, and non-guaranteed terminal bonus for greater peace of mind.
