Image
Superb Protection Critical Illness Plan

Superb Protection Critical Illness Plan

Product Summary

As medical technology advances, recovery rates are now higher than ever, with new and less painful treatments becoming increasingly assessable. However, these expensive procedures, coupled with medical inflation, may add up to costs that can be overwhelming for both patients and families alike. Superb Protection Critical Illness Plan (“the Basic Plan”) is a comprehensive and flexible critical illness plan. The Basic Plan offers critical illness protection under Critical Illness Benefit and Special Diseases Benefit with two optional riders to top up your protection, guarding you against unforeseeable medical expenses.

Product Icons
 

Critical Illness Benefit

 

Special Disease Benefit

 

10-year Additional Protection

 

Terminal Dividend

 

Premium Waiver Benefit

Product Features

As medical technology advances, recovery rates are now higher than ever, with new and less painful treatments becoming increasingly assessable. However, these expensive procedures, coupled with medical inflation, may add up to costs that can be overwhelming for both patients and families alike. Superb Protection Critical Illness Plan (“the Basic Plan”) is a comprehensive and flexible critical illness plan. The Basic Plan offers critical illness protection under Critical Illness Benefit and Special Diseases Benefit with two optional riders to top up your protection, guarding you against unforeseeable medical expenses.

?Coverage for 63 Critical Illnesses

The Basic Plan provides protection against 63 Critical Illnesses till age 100 of the Insured, covering common critical illnesses such as cancer, heart disease or stroke. If the Insured is diagnosed with any one of the covered Critical Illnesses, we will pay a lump sum benefit equal to the Sum Assured less benefits already paid (if any).

?Coverage of 10 Special Diseases

The Basic Plan comes with protection against 10 Special Diseases1, providing protection against carcinoma in-situ and systemic lupus erythematosus. With access to quality treatment in the early stages, the chance of progression of a carcinoma in-situ into a Critical Illness can be significantly reduced. In the event of a diagnosis of any Special Diseases, the Insured will receive a cash advancement equal to 20% of the Sum Assured, subject to a maximum limit of HKD240,000/ USD30,000. The Special Diseases Benefit is only effective until age 85 of the Insured. In case the Insured is already covered by the Basic Plan, its optional riders and same protection under other plans provided by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)”), the total claim payment cannot exceed such maximum limit. Once a claim is paid, this benefit will be terminated.

?Two Optional Rider to Suit Your Needs

Under the Basic Plan, you can top up your protection with two optional riders, rounding up a protection that suits your personal needs.

Superb Protection Early Stage and Juvenile Critical Illness Rider

  • Early Stage Critical Illness Benefit provides coverage of up to 47 early illnesses1 till the age of 85 of the Insured. In the unfortunate event that the Insured is diagnosed with one of the Early Stage Illnesses, he/she will receive an advanced claim equal to 20% of the Sum Assured with a maximum limit of HKD240,000/ USD30,000. In case the Insured is already covered by the Basic Plan, its optional riders and same protection under other plans provided by China Life (Overseas), the total claim payment cannot exceed such maximum limit. Early Stage Critical Illness Benefit will be terminated upon claim is paid.
  • Juvenile Critical Illness Benefit offers customised protection against 10 Critical Illnesses for children1, such as autism, severe asthma and kawasaki disease, covering the Insured till age 17. In the event of a confirmed diagnosis of any one of the covered Juvenile Critical Illness Benefit, the Insured can receive 20% of the Sum Assured with a maximum limit of HKD240,000/ USD30,000. In case the Insured is already covered by the Basic Plan, its optional riders and same protection under other plans provided by China Life (Overseas), the total claim payment cannot exceed such maximum limit. The Juvenile Critical Illness Benefit will be terminated upon claim is paid.

?

Superb Protection Multiple Critical Illness (Rider)

  • Provides up to 7 claims of protection against critical illnesses (including Critical Illnesses covered under the Basic Plan). Should the Insured be inflicted with critical illnesses in several instances, he/she can still receive sufficient protection. In other words, the Superb Protection Multiple Critical Illness (Rider) under the policy will remain in force despite the Critical Illness Benefit under the Basic Plan is being terminated after the claim payment.
    Covered Critical Illness is categorized into 5 disease groups: (1) cancer; (2) heart and related disease; (3) neurological system and related disease; (4) major organs failure and related disease and (5) other Critical Illnesses. The Insured can make multiple claims2 within each group until he or she reaches the benefit limit of the Sum Assured of relevant group. The protection will continue till the Insured reaches age 85, as long as the benefit limits of the relevant disease group has yet to be reached.
  • The benefit of the Cancer disease group is 300% of the Sum Assured, while the benefit limits for each cancer claim is up to 100% of the Sum Assured.
  • The Benefit limit of each of the other 4 disease groups is 100% of the Sum Assured.

Superb Protection Multiple Critical Illness (Rider)

Provides Life Protection

?Free 10-year Additional Protection

In the first 10 policy years, you will receive a one-time, lump-sum additional payment for any claims made under Critical Illness Benefit or death benefit under the Basic Plan. The amount payable is 35% (applicable to issue age of 18 or above) or 50% of the Current Sum Assured3 (applicable to issue age of 18 or below).

?Life Protection

If the Insured passes away before making the first critical illness claim, the Beneficiary will receive a death benefit equal to 100% of the Sum Assured less any benefit paid, plus Free 10-year Additional Protection (if applicable) and non-guaranteed Terminal Dividend (if applicable).

?Non-guaranteed Terminal Dividend4

Starting from the 5th Policy Anniversary, you will receive a one-time, lump sum Terminal Dividend (non-guaranteed) for the first claim made under Critical Illness Benefit or death benefit under the Basic Plan.

?Premium Waiver Benefit5

Once the first claim has been paid under Critical Illness Benefit (excluding Special Diseases, Early Stage Illnesses and Juvenile Critical Illnesses), any future Premium payments of Superb Protection Multiple Critical Illness (Rider) will be automatically waived while the plan will remain in force until maturity, giving you the peace of mind of a continuous protection.

?International Emergency Assistance Service6

If the Insured is diagnosed with an illness or is injured in an accident outside Hong Kong, he or she will enjoy comprehensive coverage under the free 24-hour Worldwide Emergency Assistance Service.

Product Details

Superb Protection Critical Illness Plan

Enrolment Terms

Benefit

covered critical illnessesearly stage illness coverage

1Special Diseases Benefit, the optional Early Stage Critical Illness Benefit and Juvenile Critical Illness Benefit (if any) apply only before the payment of the Critical Illness Benefit under the Basic Plan. Once the Critical Illness Benefit under the Basic Plan has been paid, its Special Diseases Benefit, the optional Early Stage Critical Illness Benefit and Juvenile Critical Illness Benefit (if any) will cease.

2Each of the Critical Illness Benefit under the Basic Plan and Superb Protection Multiple Critical Illness (Rider) shall fall within different groups of Critical Illness and shall be payable only once except for the claim for Cancer. If the previous claim is made under Group 1 of the list of Covered Critical Illnesses, and the subsequent claim is from Groups 1 or 4, the subsequent claim must fulfil the “5-year waiting period” requirement. If the subsequent claim is made under Groups 2, 3 or 5, the date of such diagnosis must be separated from the previous diagnosis by 1 year; if the earlier claim is made under Groups 2 to 5, the subsequent diagnosis must be separated from the previous diagnosis by 1 year. For each claim made, the Insured must survive at least 30 days after the first diagnosis of a Critical Illness.

3Current Sum Assured refers to the Sum Assured less claims paid under Special Diseases Benefit (if any) or Juvenile Critical Illness Benefit (if any), and does not include the Sum Assured of optional riders.

4Non-guaranteed Terminal Dividend does not apply to Insured who made claims/received benefits under the Critical Illness Benefit before the 5th Policy Anniversary.

5The Premium of Superb Protection Multiple Critical Illness (Rider).

624-hour Worldwide Emergency Assistance Service is provided by Inter Partner Assistance Hong Kong Limited. The provision of services are subject to the terms and conditions of the Inter Partner Assistance Hong Kong Limited. China Life (Overseas) reserves the right to amend the terms and conditions thereof from time to time without prior notice.

7Policy fee of HKD200/USD25 (depends on Policy currency) will be charged during the Premium payment term. The fee will be charged together with the Premium.

8In case the Insured is already covered by the Basic Plan, its optional riders and same protection under other plans provided by China Life (Overseas), the total claim payment cannot exceed such maximum limit.

9For Critical Illness Benefit (first time claim), Item 2 - Major Organ Transplant (kidney or heart) and Item 47 - Major Organ Transplant (liver, lungs, pancreas and stem cells) are defined as the same Critical Illness, thus a total 63 Critical Illnesses are covered under the Critical Illness Benefit.

10This Policy will be terminated if a Critical Illness claim becomes payable under “Terminal Illness” or “Loss of Independent Existence”. For Multiple Critical Illness Benefit, “Terminal Illness” and “Loss of Independent Existence” are listed as benefit exclusions.
?

Product Important
Disclaimer

Please refer to the Policy documents for the complete definitions of the capitalized terms, as well as all the terms and conditions of this product. You are reminded to review all of the relevant product materials provided to you and to seek independent professional advice if necessary.

  1. The Policy is underwritten by China Life Insurance (Overseas) Company Limited (“China Life (Overseas)” or "us/we/our"). China Life (Overseas) is responsible for the features, underwriting and benefit payments under the Policy. You should fully understand all of the risks involved in this product and consider whether this product is affordable and suitable to you before making your application.
    ?
  2. China Life (Overseas) shall make the final decisions on the underwriting and claims. We shall rely on your submitted information to assess whether to accept or decline your application, and shall refund any Premium paid without interest for declined cases.
    ?
  3. Exclusions – any claims directly or indirectly caused by or resulting from the following conditions will not be covered: (1) any Critical Illness commences and manifests itself within 90 days from the Issue Date or any date of reinstatement, whichever is later; (2) congenital or pre-existing conditions when applying for the Policy; (3) Acquired Immunodeficiency Syndrome (AIDS) or AIDS-related complex (except HIV Through Blood Transfusion; Occupational Acquired HIV; and HIV Due to Assault); (4) suicide or self-inflicted injuries, whether sane or not;(5) the Insured participating in hunting, mountaineering, motor racing, horse racing, ice-skiing, skiing, scuba-diving, flying, hang gliding, parachuting, boxing or other hazardous competitions or performances; (6) the Insured engaging service in the forces, police, warlike operations or aviation on duty; (7) war, act of hostility, declared or not, civil war, riots, civil commotion, strike or other activities of terrorism; (8) ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this exception combustion shall include any self-sustaining process of nuclear fission; (9) drug-taking other than under the direction of a qualified medical practitioner, abuse of alcohol or the taking of poison; (10) failure to seek or follow medical advice; (11) entering, departing from, driving or flying on or being situated by any means in an aerial vehicle except as a fare-paying passenger of a flight of scheduled route on a commercial aircraft of an airline. In addition, the information stated herein is for reference only. Please refer to the General Provisions for the exact terms and conditions and limitations such as incontestability, suicide and fraud etc. or all exclusions.
    ?
  4. Limitation - Applicable to Superb Protection Critical Illness Plan (“the Basic Plan”) and Superb Protection Early Stage and Juvenile Critical Illness Rider – (1) While the Policy is in force, a maximum of one claim upon the first claim for one of the Carcinoma-in-situ is allowed, including Carcinoma-in-situ of the Breast, Carcinoma in situ of the Cervix Uteri, Carcinoma in situ of the Uterus, Carcinoma in situ of the Fallopian Tube, Carcinoma in situ of the Vagina, Carcinoma in situ of the Testes, Carcinoma-in-situ of the Liver, Carcinoma-in-situ of the Lung, Carcinoma-in-situ of the Nasopharynx, Other Carcinoma-in-situ; or one of the Early Stage Illnesses including Early Stage Cancer of the Ovary, Early Stage Cancer of the Prostate, Early Stage Cancer of the Skin, Early Stage Cancer of the Thyroid, and Other Early Stage Malignancy in the case where the Insured has more than one policies of the same benefit type under the Basic Plan and Superb Protection Early Stage and Juvenile Critical Illness Rider and other benefits provided by China Life (Overseas); (2) While the Policy is in force, a maximum of one claim upon the first claim for one of the Coronary Artery Diseases is allowed, including Less Severe Heart Attack, Percutaneous Coronary Intervention and Angioplasty in the case where the Insured has more than one policies of the same benefit type under the Basic Plan and Superb Protection Early Stage and Juvenile Critical Illness Rider and other benefits provided by China Life (Overseas); (3) In the event of the Insured suffering from one or more than one Critical Illnesses, the maximum amount payable shall not exceed the Sum Assured. Applicable to Superb Protection Multiple Critical Illness (Rider) - (1) The coverage of Critical Illness Benefit under Superb Protection Multiple Critical Illness (Rider) is limited to 6 Critical Illness Claims and subject to the conditions specified in the Benefit Section;(2) No benefit of Superb Protection Multiple Critical Illness (Rider) will be payable: (i) if the symptoms appear, the condition occurs or the diagnosis or surgery relating to the relevant Critical Illness occurs within the first 90 days from the later of the Effective Date or the Reinstatement Date; or (ii) if the Insured dies within 30 days from the date of diagnosis of Critical Illness.
    ?
  5. Non-Payment / Automatic Premium Loan - You should pay Premium(s) on time according to the selected Premium payment schedule. If the due Premium remains unpaid upon the expiry of the Grace Period, an Automatic Premium Loan will be taken out against the Policy to settle the unpaid Premium automatically. All Policy Loans are interest-bearing and calculated at a rate (as stated on our corporate website www.lbuiag.icu) to be declared by us from time to time. Interest accrued shall become a part of the Indebtedness. When the loan balance exceeds the guaranteed Cash Value of the basic plan of the Policy, the Policy will be lapsed and you will lose the related insurance coverage and suffer a financial loss. Under these circumstances, the Surrender Value of the Policy will be deducted to repay the outstanding loan balance (including interest), and the remaining value will be refunded to you.
    ?
  6. Dividend and/or Crediting Interest Philosophy - This is a participating and/or providing interest on accumulation insurance plan. Premiums received from the policies will be invested to a variety of assets according to China Life (Overseas)’s investment strategy. The surplus from the invested assets will be shared with Policyholder through declared dividends and/or interest rate on accumulation in accordance with the relevant clause in the benefit provision. China Life (Overseas) will ensure a fair sharing of profits among different groups of policyholders and also between policyholders and China Life (Overseas). China Life (Overseas) will review and determine the dividend and/or interest rate on accumulation at least once a year, the current projection on dividend and/or interest rate on accumulation are not guaranteed and subject to change with the entire performance of the relevant policies and the factor including but not limited to the investment returns, operating expense, claims experience, commission, persistency, past experience and future prospect. In addition, China Life (Overseas) will consider both past and future outlooks of all factors including but not limited to:
    ?

    Claims – include the costs of providing death benefit as well as other benefits under the product(s).

    Investment return – including the interest income, dividend income, outlook of interest rates and any changes in the market value of the product’s backing asset.

    Expenses – including both direct expenses (e.g. commissions, underwriting, issue and premium collection expenses) and indirect expenses (e.g. general overhead expenses) related to the product.

    Persistency – including policy lapse and partial surrender experience.

    Note: The dividend or interest rate history is not an indicator of the future performance of this product.

  7. Investment Philosophy, Policy and Strategy - China Life (Overseas) aims to strive for minimizing volatility of the investment return and provides stable return as our investment philosophy. Assets are mainly invested in bonds and other fixed income instruments, such as government and corporate bonds and other fixed income instruments to support the guaranteed financial obligation. To enhance the performance of the investment portfolio, China Life (Overseas) invests in equity-type investments and other investment instruments such as mutual funds and direct / indirect investment in properties or commercial institutions.

    The investment portfolio will be diversified across different geographic regions and /or industries. Investment strategy will be subject to change depending on the market conditions and the economic outlook. China Life (Overseas) will inform Policyholder the relevant changes in dividend and/or interest rate on accumulation and the impact to the policies when there is change in the investment strategy.

    China Life (Overseas)’s current investment strategy on participating and/or providing interest on accumulation plans are as follow:
    Asset Type Target Asset Mix (%)
    Bonds and other fixed income instruments 50% to 90%
    Equity-type investment and other investments 10% to 50%
    Please refer to China Life (Overseas) Company’s website www.lbuiag.icu/products/dividendandinvestment for dividend history, Dividend and/or Crediting Interest Philosophy, Investment Philosophy, Policy and Strategy, as well as the fulfillment ratio of China Life (Overseas).
    ?
  8. Cooling-off Right - You have the right to cancel the Policy within the Cooling-off Period and obtain a refund of any Premiums paid by giving written notice to us provided that you have not made any claims under the Policy. Such notice must be signed by you and submitted to China Life (Overseas) at 22/F, CLI Building, 313 Hennessy Road, Wan Chai, Hong Kong within 21 days after the delivery of the Policy or issue of a Notice to you or your representative informing you that the Policy is available, whichever is earlier.

?

What are the key product risks?
Credit risk This product is a life insurance Policy issued by China Life (Overseas). Any Premium paid will become part of our assets and our financial strength will affect our ability to meet our contractual obligations to you under the Policy. Therefore this product is subject to our credit risk.
Early surrender risk The savings component of the Plan is subject to risks and possible losses. Should you surrender the Policy early, you may receive an amount considerably less than the total amount of Premiums paid.
Exchange rate and Currency risks Any Policy with foreign currencies involves risks, such as potential changes in political or economic conditions that may substantially affect the price or liquidity of a currency. The fluctuations in exchange rates may also cause financial losses to you during currency conversions. You should consider the potential currency and exchange rate risks before deciding which Policy currency you should take.
Inflation risk The cost of living in the future may be higher than expected due to the effects of inflation. Therefore, your current planned benefits and/or returns maybe insufficient to meet your future needs even if we fulfill all of our contractual terms and obligations.
Liquidity and Withdrawal risk You are obliged to hold the Policy and pay the Premium for the designated period of time. If you terminate the Policy prior to the Policy Maturity Date, you will suffer a financial loss. In case you make partial withdrawals from the Policy, your account value, death benefit and other Policy values will be reduced, and you may need to pay the relevant handling fee or charges (if any).
Non-guaranteed Benefit This Plan consists of non-guaranteed benefits and/or returns. The actual amounts of benefits and/or returns in the future may be different from the benefits and/or returns which project on the product materials. The product materials are for illustrative purposes only.
Policy Termination The Basic Plan shall immediately terminate: (a) the Basic Plan matures, lapses, is surrendered or converted to paid-up insurance; (b) upon the Policy maturity date of the Basic Plan; (c) the Insured attains the age of 100; (d) death of the Insured; or (e)claim payment for the Critical Illness. The Superb Protection Multiple Critical Illness (Rider) will not be automatically terminated and maintain in force despite the Policy terminates by paying claim of the Critical Illness Benefit. Superb Protection Early Stage and Juvenile Critical Illness Rider shall immediately terminate: (a) the Basic Plan lapses, or is surrendered; (b) upon the maturity date of Superb Protection Early Stage and Juvenile Critical Illness Rider; (c) when the Insured attains the age of 85; (d) if any Premium remains unpaid at the end of the Grace Period; (e) the death of the Insured; and (f) claim payment for any of the benefit under Superb Protection Early Stage and Juvenile Critical Illness Rider. Superb Protection Multiple Critical Illness (Rider) shall immediately terminate: (a) the death of the Insured; (b) when the Insured attains the age of 85; (c) the Basic Plan lapses, or is surrendered; (d) if any Premium remains unpaid at the end of the Grace Period; (e) upon the maturity date of Superb Protection Multiple Critical Illness (Rider)(f) being diagnosed by a Physician of having Terminal Illness or Loss of Independent Existence under the Critical Illness Benefit of the Basic Plan; (g) claim payments of Critical Illness Benefit for 6 times.
Premium adjustment and renewal China Life (Overseas) has the absolute right and discretion to adjust the renewal premium payable under the Policy at the end of each Coverage Period (that is every year). Factors leading to premium adjustment may include but are not limited to the experience in claims, policy surrender, investment return, and expenses incurred by and/or in relation to this product.

Disclaimer

The information and descriptions contained herein are not intended to be complete descriptions of all terms, exclusions and conditions applicable to the products and services, but are provided solely for general informational purposes. For complete details please refer to the actual policy or the relevant product or services agreement.

?

Download Information

Read More

?

Enrollment Guidelines

Read More

?

Bonus Strategies

Read More

?

Insurance Glossary

Read More

女人四十做点什么生意赚钱