Well Link Life's Well Protect Critical Illness SimPro (the 'Plan') is a simple critical illness insurance. You can enjoy a comprehensive coverage of 62 critical illnesses at affordable premiums. If you are diagnosed with the covered critical illness, you will receive an one-off financial support and you can concentrate on treatment without worries.
Remarks:
1. Only 4 health questions to be answered to apply for the Plan if the sum insured is not higher than the corresponding sum insured limits listed in the table in Product Summary.
2. The coverage age for ‘Loss of Independent Existence’ and ‘Total and Permanent Disability’ is between attained ages of 18 and 64.
3. No critical illness benefit under this policy will be payable if the symptoms, conditions or diagnosis of the critical illness commences or occurs within 60 days after the Policy issue date, except for critical illness caused by an accident.
4. Any claim for the critical illness benefit must be made in the Company’s prescribed claims form within 90 days of the life insured becoming aware that he / she is suffering from a covered critical illness. Written proof of the diagnosis supported by medical evidence and reports by a physician approved by the Company and any other evidence required by the Company must be provided by the policyowner at his/her own expense and received by the Company within 6 months after it receives the written notice of claim.
Product Type:
Basic Plan
Premium Payment Term and Issue Age (on last birthday):
5 years: Age 0 (15 days) to age 65
10 years: Age 0 (15 days) to age 60
15 years: Age 0 (15 days) to age 55
20 years: Age 0 (15 days) to age 50
Benefit Term:
To age 100
Premium Payment Mode:
Annual / monthly
Policy Currency:
HKD / USD
Minimum Sum Insured:
HKD 120,000 / USD 15,000
Maximum Sum Insured for Simplified Health Underwriting:
Only need to answer 4 health questions to apply for the Plan if the sum insured is not higher than the limits in the following table.
Issue Age^ - HKD Policy
Age 0 (15 days) to age 40: HKD 4,800,000
Age 41 - 50: HKD 4,000,000
Age 51 - 55: HKD 2,000,000
Age 56 - 60: HKD 800,000
Age 61 - 65: HKD 400,000
Issue Age^ - USD Policy
Age 0 (15 days) to age 40: USD 600,000
Age 41 - 50: USD 500,000
Age 51 - 55: USD 125,000
Age 56 - 60: USD 100,000
Age 61 - 65: USD 50,000
^Age means the age as at last birthday
Critical Illness Benefit:
Critical illness benefit shall equal to:
i. sum insured at time of diagnosis; plus
ii. terminal dividend (if any) ; less
iii. any indebtedness.
If the life insured is diagnosed with the covered critical illnesses before the 10th policy anniversary, an extra 50% of the sum insured will be paid.
Death Benefit:
Death benefit shall equal to:
i. sum insured at time of life insured's death; plus
ii. terminal dividend (if any) ; less
iii. any indebtedness.
If the life insured passes away before the 10th policy anniversary, an extra 50% of the sum insured will be paid.
Surrender Benefit / Maturity Benefit:
i. Guaranteed cash value at time of surrender or on maturity date ; plus
ii. terminal dividend (if any) ; less
iii. any indebtedness.
Terminal Dividend:
Terminal dividend (if any) shall be payable on or after the 5th policy anniversary upon the first occurrence of any of the following events:
i. the death of the life insured; or
ii. the surrender of this policy; or
iii. the policy maturity; or
iv. payment of the critical illness benefit.
Terminal dividend is paid once only and is not guaranteed or the Company will review and determine the terminal dividend at least once a year. Please refer to section “Dividend Philosophy” for more details.
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 Critical Illness Benefit will be payable under this Policy for any Critical Illness resulting from, or related to, or caused or contributed directly or indirectly, wholly or partly, by any of the following:
- Any Pre-existing Condition;
- Congenital deformities or anomalies, infertility or sterilization;
- Drug taking other than under the prescription or direction of a physician, abuse of alcohol or the taking of poison;
- Disease of or infection with any Human Immunodeficiency Virus (HIV) and/or any HIV-related illness including Acquired Immune Deficiency Syndrome (AIDS) and/or mutations, derivation or variations thereof, except HIV due to blood transfusion, medically acquired HIV or occupationally acquired HIV;
- Nuclear fission, nuclear fusion, ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuels or nuclear weapons material;
- War or hostilities (whether war be declared or not), civil commotion rebellion, revolution, riot, strikes, terrorist or warlike activities;
- Participation in any armed force or peace keeping activities;
- An act of any person acting on their own or on behalf of or in connection with any group or organization to influence by force, any group, corporation or government by terrorism, kidnapping or attempted kidnapping, attack, assault or any other violent means;
- An intentional self-inflicted act;
- Violation or attempted violation of the law or resistance to arrest or participation in any brawl or affray; or
- Professional sports, racing of any kind, underwater activities involving the use of breathing apparatus, aerial flights (including bungee-jumping, hang-gliding, ballooning, parachuting and sky-diving) other than a crew member or as 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.
No Critical Illness Benefit will be payable under the Plan for any critical illness, if the symptoms or conditions of which or the diagnosis of which first appeared or occurred within 60 days immediately following the policy issue date or the date of endorsement or the effective date of last reinstatement, whichever is the latest. This shall not apply to any Critical Illness caused by an accident.
Nature of the product
This plan is a long-term participating life product with saving elements, providing benefits of non-indemnity nature. The costs of insurance and the related costs of policy are included in the premium paid under this plan despite the product brochure / leaflet and / or illustration documents of this plan having no schedule / section of fees and charges or no additional charge noted other than the premium. The product is critical illness insurance and is aimed at customers who want critical illness benefits 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
The Company reserves the right to review and adjust the premium rates of these products based on our expectation and experience of a series of factors including but not limited to investment returns, claims, policy surrenders and expenses. The Company will not adjust the premium unless we notify you prior to the policy's anniversary.
Claims
Any claim must be made in the Company's prescribed claims form within ninety (90) days of the Life Insured becoming aware that he/she is suffering from a Critical Illness or Early Stage Critical Illness. Written proof of the Diagnosis supported by medical evidence and other relevant evidence must be received by the Company within six (6) months after it receives the written notice of claim. You can call our Claims Hotline at +852 2830 7600 for the appropriate claim form.
Termination Conditions
The Plan shall be automatically terminated and the premium shall cease to be payable for it upon the first occurrence of any one of the following events:
- death of the life insured;
- payment of the Critical Illness Benefits
- the Company approves the written request of the policyowner for surrender;
- the policy reaches the maturity date;
- the policy lapses after the end of the grace period;
- the non-forfeiture value (means the sum of guaranteed cash value less any indebtedness) is equal to or less than zero.
While the Policy is in force, you may terminate this policy before the next premium due date by sending written request to the Company provided that such notice is duly received by the Company 14 days before the next premium due date.
