Helping employees meet their needs and close their protection gaps with portable cancer coverage – No medical examination required

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With cancer being the number one killer in Hong Kong², how can companies give employees the protection and peace of mind they need to thrive, while keeping talent on board?

This article is brought to you by AIA Hong Kong

The incidence of cancer is rising at an alarming rate in Hong Kong, especially among young people, putting one in four men and one in four women at risk of developing cancer by the age of 75³. The number of new cancer patients aged 20 to 44 has also surged by 17% from 2011 to 2021⁴.

Combatting cancer is a long and arduous battle, which is compounded by exorbitant medical bills and the hidden costs of lost income during treatment. Our internal data shows that while most employers currently provide basic group medical coverage on a reimbursement basis, employees are often unprotected against a critical illness. This means they can face a hefty financial burden if they are diagnosed with cancer and need medical care. Therefore, it is important for employees to enhance their cancer protection measures based on their needs.

Employees can choose from a variety of voluntary protection solutions in the market, but portable protection stands out, both in terms of its affordability and its ability to help employees fill their protection gaps. AIA Hong Kong has recently launched its “Shield Up Cancer Protection Plan”, a unique-in-market⁵ portable cancer protection plan for employee members⁶ of its group insurance and pension schemes.

Through a simple application process requiring only a health declaration, employee members can top-up their existing group insurance with additional cancer coverage based on their needs. The plan also includes features such as not requiring a medical examination¹, a fixed premium for every five-year coverage period⁷, guaranteed renewal⁸ and options for different sum assured. Employee members who diagnosed with cancer⁹ can receive a lump sum benefit of up to 100% of sum assured as immediate financial support¹⁰.

In addition, AIA Hong Kong has introduced its “StepUp Medical Protection Plan 2”, which is also a portable protection plan. It offers employee members lifetime medical protection without the need for medical underwriting¹¹ and provides reimbursements for a range of medical expenses, while also covering pre-existing conditions¹².

By combining the medical expense reimbursements from the “StepUp Medical Protection Plan 2” with additional cancer coverage from the “Shield Up Cancer Protection Plan” and basic medical coverage from the group insurance plan, employee members can boost their protection and enjoy a timely support. This gives them the peace of mind they need to cope with the risks associated with cancer, whether they are employed, in between employment or retired⁸.

Critical illness is something that all of us want to avoid, but it is a possible life event which could happen to any of us. As an employer, you can better support your employees by giving them an extra option and an additional layer of protection based on their needs. For details about the “Shield Up Cancer Protection Plan” or other information about our group insurance, please get in touch with AIA Corporate Solutions.

+The above product combo and protection coverage are for reference only. Customers should purchase suitable products according to the actual personal needs and affordability. Each of the above products can be purchased separately.
1. Shield Up Cancer Protection Plan is exclusively offered to employee members of (i) AIA group insurance scheme and/or (ii) AIA MPF / ORSO / Macau pension scheme. AIA MPF and AIA ORSO schemes are only applicable to Hong Kong. AIA Macau pension scheme is only applicable to Macau. StepUp Medical Protection Plan 2 is eligible for members under an AIA group medical insurance scheme. 2. Only simple health declaration is required. No medical examination or submission of any proof of health is required. 3. Unique-in-market refers to Shield Up Cancer Protection Plan’s unique feature as a portable cancer protection plan for employee members of group insurance schemes and/or pension schemes in Hong Kong, which will continue to provide the employee member as the insured with cancer coverage even if the employee member leaves his/her company or retires. This plan is unique in market when compared with critical illness insurance products provided by Hong Kong major insurance companies, as of April 2024. 4. Premium payable is based on the insured person’s attained age and the applicable premium schedule at the time of application or renewal of the cover. The calculation is based on the assumption of a non-smoking male at age 18, apply Plan 1 at application. 5. Medical underwriting is required for enrolment in a higher room type than what the insured is entitled to under an AIA group medical insurance scheme during the designated application submission periods. For more information, please read the “Member Enrolment Guidelines” in StepUp Medical Protection Plan 2 brochure. 6. The benefit term of Shield Up Cancer Protection Plan is up to age 80 of the insured. The benefit term of StepUp Medical Protection Plan 2 is whole life.

Source:
¹ Only simple health declaration is required. No medical examination or submission of any proof of health is required.
² Overview of Hong Kong Cancer Statistics of 2020, Hong Kong Cancer Registry. (data collected in 12 July 2023).
³ Overview of Hong Kong Cancer Statistics of 2021, Hong Kong Cancer Registry, October 2023.
⁴ Hong Kong Cancer Statistics Summary Report, Hong Kong Cancer Registry. Comparison of the number of new cases at all parts by year and age group 20 to 44 years from 2011 to 2021.
⁵ Unique-in-market refers to Shield Up Cancer Protection Plan’s unique feature as a portable cancer protection plan for employee members of group insurance schemes and/or pension schemes in Hong Kong, which will continue to provide the employee member as the insured with cancer coverage even if the employee member leaves his/her company or retires. This plan is unique in market when compared with critical illness insurance products provided by Hong Kong major insurance companies, as of April 2024.
⁶ Shield Up Cancer Protection Plan is exclusively offered to employee members of (i) AIA group insurance scheme and/or (ii) AIA MPF / ORSO / Macau pension scheme. AIA MPF and AIA ORSO schemes are only applicable to Hong Kong. AIA Macau pension scheme is only applicable to Macau.
⁷ At the time of renewal, the Company reserves the right to revise or adjust the premium according to its then applicable premium rate for the attained age of the insured at the time of such renewal. Please refer to the section “Premium Adjustment” under Important Information in the product brochure of Shield Up Cancer Protection Plan for details.
⁸ The benefit term of Shield Up Cancer Protection Plan is up to age 80 of the insured.
⁹ Cover for cancer does not include early thyroid cancer (at TNM Classification T1N0M0 or a lower stage); early prostate cancer (at TNM Classification T1a or T1b or a lower stage); early chronic lymphocytic leukaemia classified as less than RAI Stage III; skin cancer (except malignant melanoma); any cancer where HIV infection is also present; and any pre-malignant or non-invasive cancer or carcinoma-in-situ. Please refer to the policy contract of Shield Up Cancer Protection Plan for the definition of cancer.
¹⁰ The cancer benefit will be determined based on the policy year in which the insured is diagnosed with cancer. If the insured is diagnosed with cancer in the 1st policy year, the cancer benefit will be 100% of Total Basic Premiums Paid. If the insured is diagnosed with cancer in the 2nd policy year, the cancer benefit will be 105% of Total Basic Premiums Paid. If the insured is diagnosed with cancer in the 3rd and 4th policy year, the cancer benefit will be 50% and 75% of sum assured respectively. If the insured is diagnosed with cancer in the 5th policy year and onwards, the cancer benefit will be 100% of sum assured. Total Basic Premiums Paid means the total amount of due and payable premium(s) which have been paid to the basic policy and received by the Company from the policy date up to the end of the current policy year. Total Basic Premiums Paid does not include any prepaid premium or overpayment.
¹¹ Medical underwriting is required for enrolment in a higher room type than what the insured is entitled to under an AIA group medical insurance scheme during the designated application submission periods. For more information, please read the “Member Enrolment Guidelines” in the product brochure of StepUp Medical Protection Plan 2.
¹² For members who have been protected under an AIA group medical insurance scheme and / or StepUp Medical Protection Plan 2 for a total of at least 12 continuous months beforehand, the pre-existing conditions will be covered.
Remark: The above product combo and protection coverage are for reference only. Customers should purchase suitable products according to the actual personal needs and affordability. Each of the above products can be purchased separately.
The product information in this document does not contain the full terms of the product, for the details of the product features, terms and conditions, exclusions and key product risks, you may refer to the product brochure and policy contract of relevant products. In case you want to read policy contract sample before making an application, you can obtain a copy from AIA. Shield Up Cancer Protection Plan and StepUp Medical Protection Plan 2 can be purchased as a basic plan only.
“AIA” or “AIA Hong Kong” herein refers to the Hong Kong Branch and/or Macau Branch of AIA International Limited (Incorporated in Bermuda with limited liability).
This article contains general information is for distribution in Hong Kong and Macau only. It does not constitute as an offer or solicitation and/or insurance product recommendation. We do not guarantee nor warrant the accuracy, completeness and timeliness of the data source. Thus, we are not liable for any claim and/or loss arising from the data source. “Hong Kong” and “Macau” herein refer to “Hong Kong Special Administrative Region” and “Macao Special Administrative Region”, respectively.

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Images / AIA Hong Kong