Living Benefits

Hong Kong

AIA Clever Care Refundable Protection  integrates critical illness, unknown serious infectious disease and whole-life medical protections under one scheme. Press release, September 15, 2020. 
AIA Clever Care is executed in two separate phases through a lump-sum payment. The benefit term in the first phase offers comprehensive protection by providing critical illness cover for 115 illnesses and cover for unknown serious infectious diseases. At the end of the first benefit term, customers with a zero-claim record can choose to terminate their policy and get back 100% of their paid premiums. Alternatively, customers can choose to deposit the 100% paid premiums into the Medical Protection Account (MPA) of the second phase of the plan.

AXA launches new MultiPro Critical Illness Protection series. PR Newswire, August 31, 2020.
The MultiPro Critical Illness Protection series (MultiPro series) provides customers with an affordable extension to upgrade their current protection with multiple claims benefits to fill the protection gap. The series includes the MultiPro Critical Illness Plan and MultiPro Plus Critical Illness Plan.

Manulife Hong Kong rolls out new flagship critical illness plans. Life Insurance International, July 27, 2020.
Manulife Hong Kong has launched two new critical illness (CI) plans dubbed ManuBright Care 2 (MBC 2) and ManuBright Care 2 Plus (MBC 2 Plus). The plans cover up to 112 critical illnesses and diseases. These include cancer, heart attack, and stroke.

India

Liberty General Insurance launches Critical Connect, a health insurance policy which covers up to 60 Illnesses. Outlook, July 18, 2020.
Critical Connect provides insurance cover for up to 60 critical illnesses (CIs) including major and minor health conditions. The issue age is between 18 and 65 years. Under the Critical Connect health insurance policy, the customer can choose from two plans for sum insured ranging from Rs 1 lakh up to Rs. 1 crore. Plan A provides Critical Illness Bundles covering nine, 25, or 43 critical illnesses. Plan B offers disease-specific bundles such as Heart Protect, Cancer Protect, Renoliv Protect, and Brain Protect.

Malaysia

AIA launches two new innovative plans to elevate health protection in Malaysia. Press Release, August 18, 2020.
 A-Life Beyond Critical Care is AIA’s pioneer critical illness plan that provides coverage for a total of 180 conditions with end-to-end critical illness protection. A-Plus Total Health, on the other hand, is a takaful health plan that acts as a one-stop health solution for the entire family, enabling the customer to include up to six family members under a single plan.

Pakistan

Jubilee Life Insurance launches first-ever cancer insurance product in Pakistan. Press release, August 3, 2020.
The product will offer coverage for a wide range of cancer-related ailments varying from the most common to the rarest types. The plan will offer coverage up to 65 years of age and has flexible payment terms.

Peru

Pacific launches country’s first e-commerce for cancer insurance.Rumbo Economico, August 31, 2020. (Text in Spanish)
Pacific cancer insurance offers full coverage for cancer surgery, biological therapy, chemotherapy, and radiation therapy. Customers will receive a discount of up to 25% when purchase through the digital channel.

Singapore

FWD launches first-in-market Big 3 Critical Illness Insurance plan to plug Singapore’s protection gap. SME Asia, July 29, 2020.
The Big 3 Critical Illness Insurance plan offers coverage against three leading causes of death — cancer, heart attack, or stroke. Customers will receive a one-time full pay-out of the insured sum upon diagnosis of any of the three diseases. The application process can be completed online, and no medical examination is required.

South Africa

Capital Legacy shakes up the South African Financial Services Industry. FA News, August 17, 2020.
MyCover offers customers up to R10 million in life cover and up to R5 million in critical illness and impairment cover. One of the benefits is CashBack, through which policyholders can opt to receive cash back every five years.

United States

Colonial Life launches new coverage for COVID-19. Press release, August 24, 2020.
The new group life critical illness plan has an optional rider and offers a lump sum hospitalization benefit if diagnosed with COVID-19 or a dozen other infectious diseases. The plan also covers additional conditions for children such as Down syndrome, cystic fibrosis, cerebral palsy, spina bifida, and cleft lip or palate. There is also a Wellbeing assistance benefit which is designed to pay a benefit for one of 25 different health screening tests.