Unexpected hospitalization caused by accidental injuries or sickness may bring you additional medical expense as well as loss of incomes while you are unable to work. Well Link Life's Well Protect 108 Refundable Hospital Income Insurance Plan(the 'Plan') offers daily hospital income during hospitalization and life protection. It helps to relieve your financial burden during hospitalization. You only pay 8-year premium and enjoy 10-year coverage plus refund of 108% of total premiums paid at policy maturity.
1. Total equivalent annual premiums paid means the accumulated premiums due and paid at the relevant date which is calculated as “annual premium” (i.e. premium payable for annual mode) divided by 12 then multiplied by the corresponding number of months that the premium has been paid. Levy or premiums of other benefit items (if any) will be excluded.
2. Hospital confinement means the registration for admission and confinement of the life insured as an in-patient in a hospital upon recommendation of a physician for the treatment of an injury or sickness for a minimum of 6 hours and continuously stay in the hospital prior to discharge. If two or more confinements are due to the same or related injury or sickness, or to any complications arising from it, such confinements shall be regarded as one confinement if each of them is not separated by more than 90 days. Hospital confinement must be medically necessary*.
* Medically necessary means in respect of confinement, treatment, procedure, supplies or other medical services, such confinement, treatment, procedure, supplies or other medical services which are, in the Company's opinion:
required for, appropriate and consistent with the symptoms and findings or diagnosis and treatment of the disability;
in accordance with generally accepted medical practice and not of an experimental or investigative nature;
not for the convenience of the life insured, the policyowner, the physician or any other person; and
not able to be omitted without adversely affecting the life insured's medical condition.
3. If the life insured is confined in a hospital in places other than Hong Kong, the Macau Special Administrative Region, Singapore, Malaysia, Thailand, Japan, Taiwan, South Korea, U.S.A., Canada, Western Europe (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom and Vatican City), Australia and New Zealand, any benefit payable for each day of hospital confinement and admission to intensive care unit during the hospital confinement (if applicable) shall be reduced to 50% of the relevant benefits; and the maximum period for which the daily hospital income benefit is payable per hospital confinement shall be reduced to 90 days.
4. No daily hospital income and intensive care benefit are payable if the life insured suffers any sickness or diseases before or within 30 days from commencement date or the date of reinstatement of the policy (whichever is later). However, the Company will pay these benefits for injury caused by accident that happens on or after the commencement date of the policy.
5. If the life insured dies as a result of an unforeseen and unexpected event of violent, accidental, external and visible nature within 180 days from the accident date, the Company shall pay the accidental death benefit.
6. For hospitals in PRC, hospitals not listed on the prevailing “List of Specified Hospitals in PRC” maintained by the Company at the time of admission do not fall within the definition of “Hospital”. Please refer to the Company's website for the “List of SpecifiedHospitals in PRC”.
Product Type:
Basic Plan
Issue Age:
Age 18 to age 60 (on last birthday)
Benefit Term:
10 years
Premium Payment Term:
8 years
Premium Payment Mode:
Annual / monthly
Policy Currency
HKD
Benefit items:
Benefit limit (in HK$)
Daily Hospital Income Benefit2, 3, 4, 6：
Plan 1: $600 per day
Plan 2: $900 per day
Plan 3: $1,200 per day
Maximum 730 days per hospital confinement.
Intensive Care Benefit2, 3, 4：
Plan 1: $600 per day
Plan 2: $900 per day
Plan 3: $1,200 per day
Maximum 30 days per admission to intensive care unit.
Death Benefit:
Equals to:
150% of the total equivalent annual premiums paid1;
less any indebtedness
Accidental Death Benefit5：
Extra 50% of the total equivalent annual premiums paid 1
Surrender Benefit
If you surrender the policy before maturity, you will receive a surrender value calculated as the following formula:
Total Equivalent Annual Premiums Paid 1 x Premium Refund Percentage
The following table shows the premium refund percentage.
End of Policy Year - Premium Refund Percentage
1st policy year：0%
2nd policy year：15%
3rd policy year：30%
4th policy year：40%
5th policy year：50%
6th policy year：60%
7th policy year：70%
8th policy year：80%
9th policy year：90%
10th policy year：108%
Maturity Benefit
Equals to 108% of the total equivalent annual premiums paid 1 on the maturity date.
1. Total equivalent annual premiums paid means the accumulated premiums due and paid at the relevant date which is calculated as “annual premium” (i.e. premium payable for annual mode) divided by 12 then multiplied by the corresponding number of months that the premium has been paid. Levy or premiums of other benefit items (if any) will be excluded.
2. Hospital confinement means the registration for admission and confinement of the life insured as an in-patient in a hospital upon recommendation of a physician for the treatment of an injury or sickness for a minimum of 6 hours and continuously stay in the hospital prior to discharge. If two or more confinements are due to the same or related injury or sickness, or to any complications arising from it, such confinements shall be regarded as one confinement if each of them is not separated by more than 90 days. Hospital confinement must be medically necessary*.
* Medically necessary means in respect of confinement, treatment, procedure, supplies or other medical services, such confinement, treatment, procedure, supplies or other medical services which are, in the Company's opinion:
required for, appropriate and consistent with the symptoms and findings or diagnosis and treatment of the disability;
in accordance with generally accepted medical practice and not of an experimental or investigative nature;
not for the convenience of the life insured, the policyowner, the physician or any other person; and
not able to be omitted without adversely affecting the life insured's medical condition.
3. If the life insured is confined in a hospital in places other than Hong Kong, the Macau Special Administrative Region, Singapore, Malaysia, Thailand, Japan, Taiwan, South Korea, U.S.A., Canada, Western Europe (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom and Vatican City), Australia and New Zealand, any benefit payable for each day of hospital confinement and admission to intensive care unit during the hospital confinement (if applicable) shall be reduced to 50% of the relevant benefits; and the maximum period for which the daily hospital income benefit is payable per hospital confinement shall be reduced to 90 days.
4. No daily hospital income and intensive care benefit are payable if the life insured suffers any sickness or diseases before or within 30 days from commencement date or the date of reinstatement of the policy (whichever is later). However, the Company will pay these benefits for injury caused by accident that happens on or after the commencement date of the policy.
5. If the life insured dies as a result of an unforeseen and unexpected event of violent, accidental, external and visible nature within 180 days from the accident date, the Company shall pay the accidental death benefit.
6. For hospitals in PRC, hospitals not listed on the prevailing “List of Specified Hospitals in PRC” maintained by the Company at the time of admission do not fall within the definition of “Hospital”. Please refer to the Company's website for the “List of SpecifiedHospitals in PRC”.
Note:
1. This plan is underwritten by Well Link Life Insurance Company Limited.
2. The above content contains general information for reference only. It is not part of the policy and does not contain the full policy's terms. Please refer to the policy documents for the full terms and conditions of this plan as well as the complete definitions of the capitalized terms. You should read this information alongside the brochure and other relevant materials which cover additional information about this product, including but not limited to benefit illustration (if any), other marketing materials, policy provision and other policy documents, which are available upon request. You may seek independent professional advice if necessary.
No daily hospital income benefit or intensive care benefit is payable under this policy when the hospital confinement is directly or indirectly, wholly or partly, caused by any of the following:
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Any pre-existing Condition;
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Any sickness or disease of the life insured (a) the symptoms of which first manifest or occur or (b) for which the life insured has received medical treatment or been attended to by a physician or been prescribed drugs, in each case, during the 30 days after the policy issue date or the date of endorsement or the effective date of last reinstatement, whichever is the latest;
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Treatment or surgery for tonsils, adenoids, hernia or a disease peculiar to the female generative organs unless the life insured has been continuously covered under this policy for a period of 120 days after the policy date or date of endorsement or if the policy has been reinstated, the effective date of last reinstatement (whichever is the latest) immediately preceding such treatment or surgery;
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Attempted suicide or self-inflicted injuries while sane or insane;
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Drug-taking other than under the prescription or direction of a physician, abuse of alcohol or the taking of poison;
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Disease of or infection of any Human Immunodeficiency Virus (HIV) and/or any HIV-related Illness including Acquired Immune Deficiency Syndrome (AIDS) and/or any mutations, derivations or variations thereof, any sexually transmitted disease which is classified as a venereal disease in the International Classification of Diseases (ICD) and testing for sexually transmitted diseases;
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War or hostilities (whether declared or not), civil commotion rebellion, revolution, riot, strikes, terrorist or any warlike activities, coup or usurped power or active duty in the military, naval or air forces of any country or international authority;
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Violation or attempted violation of the law or resistance to arrest or participation in any brawl or affray;
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Professional sports, racing of any kind, underwater activities involving the use of breathing apparatus, aerial flights (including bungeejumping, hang-gliding, ballooning, parachuting and sky-diving) other than as a crew member or a fare-paying passenger on a licensed carrying commercial aircraft operating in a regular scheduled route or any hazardous activities or sports unless agreed by special endorsement;
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Psychological or psychiatric condition, mental or nervous disease or disorder, behavioral problems or personal disorder, or sleep disturbance disorder;
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General health checks, convalescence, custodial or rest care; or dental treatment, dentures, eye examination, refractive errors of the eyes or their correction by glasses, hearing aids or the fitting thereof, preventive or vaccination treatment not related to a Disability, cosmetic surgery or treatment, plastic or reconstructive surgery or treatment unless necessitate by Injury caused by an Accident;
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Pregnancy and related complications, childbirth (including surgical delivery), miscarriage, abortion, birth control, infertility or sterilization, sex changes or gender re-assignments; or
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Organ transplant services as a donor (except approved by the Company in advance).
No accidental death benefit is payable under this policy when the death of the life insured is directly or indirectly, wholly or partly, caused by:
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Disease or infection (except infections which occur through an accidental cut or wound);
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Pregnancy and related complications, childbirth (including surgical delivery) and abortion irrespective of whether such event is accelerated or induced by an Injury;
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Attempted suicide or self-inflicted injuries while sane or insane;
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Drug-taking other than under the prescription or direction of a physician, abuse of alcohol or the taking of poison;
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Poison, gas or fumes, voluntarily or otherwise taken, absorbed or inhaled, other than as a result of an accident arising from a hazardous incident in relation to the life insured's occupation;
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War or hostilities (whether declared or not), civil commotion rebellion, revolution, riot, strikes, terrorist or any warlike activities, coup or usurped power or active duty in the military, naval or air forces of any country or international authority;
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Any activity in the air other than as a fare paying passenger on a duly licensed commercial aircraft; or
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Violation or attempted violation of the law or resistance to arrest or participation in any brawl or affray;
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Racing of any kind other than on foot, or participation in all forms of professional sports competition with reward and income; or
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Nuclear radiation, or contamination or the use of ionization or combustion of any nuclear weapons.
If admission of life insured in PRC is in a hospital which is not listed on the prevailing “List of Specified Hospitals in PRC”, it does not fall within the definition of “Hospital” and no benefits will be paid. Please refer to the company website for the latest “List of Specified Hospitals in PRC”.
Nature of the Product
This product is a non-participating policy and does not entitle the policyowner to participate in the profits or surplus of the Company. The product is a non-indemnity hospital cash insurance plan aiming at customers who want hospital income protection and can pay the premium as long as they want the protection. As a result, customers are advised to save enough money to cover the premiums in the future.
Cooling-off Period
If you are not satisfied with the policy and have not made any claim under the policy, you have the right to cancel it and obtain a refund of any premium(s) paid by giving a written notice of cancellation to us within the cooling-off period. The cooling-off period is the period of 21 calendar days immediately following the day of the delivery of (1) the policy; or (2) the Cooling-off Notice, to you or your nominated representative, whichever is the earlier. The Cooling-off Notice will be sent to you or your nominated representative to notify you of the cooling-off period around the time the policy is delivered.
Premium Adjustment
Premiums are determined based on the risk class (including but not limited to age, sex and plan level, as the case may be) of the life insured. We reserve the right to review and adjust the premium for particular risk classes, based on the overall claims and policy persistency experience, on every policy anniversary. We will not adjust the premium unless we notify you prior to the policy's anniversary. For the avoidance of doubt, the Company shall not adjust the premium on an individual basis.
Termination Conditions
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The Plan shall be automatically terminated on the earliest of the following events:
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Death of the life insured;
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The Company approves the written request of the policyowner for surrender;
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This policy reaches the maturity date; or
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This policy lapses after the end of the grace period.
While the policy is inforce, you may terminate this policy before the next premium due date by notice in writing to the Company provided that such notice is duly received by the Company 14 days before the next premium due date in order to terminate this policy.
Claims
For daily hospital income benefit and intensive care benefit, written notice of a claim must be given to the Company within 30 days after the date of commencement of the relevant hospital confinement. Satisfactory proof in the Company's prescribed form together with satisfactory proof and all official receipts must be made and furnished to the Company within 90 days of the life insured from the date of discharge from the hospital. You can call our Claims Hotline at +852 2830 7600 for the appropriate claim form.
