Hong Kong, July 27, 2016 – Chubb Life today announced the launch of VCare Cancer Protector, a new plan that offers Hong Kong residents affordable cover for cancer and related medical expenses. With VCare Cancer Protector, which covers multiple stages of cancer and allows multi-cancer claims, the limit per covered cancer is up to HK$1.5 million, while the lifetime limit is up to HK$4.5 million. Customers also receive a wide range of protection benefits for the treatment of cancer, including diagnostic cancer tests, hospitalisation and surgery, outpatient, reconstructive surgery, post-treatment monitoring, psychological counselling and home nursing, among other benefits. Customers can choose from two plan options based on their personal needs and budget.
VCare Cancer Protector covers multiple stages of cancer including carcinoma-in-situ, cancer and complications of cancer. In addition, the plan offers rare marketplace features, where upon the insured‘s first diagnosis of covered cancer and validation of the claim, premiums from the next due date will be waived for one year and a cash benefit will be provided.
For the past 10 years, cancer has ranked first among the 10 major killers in Hong Kong, according to a 2015 Centre of Health Protection report. While medical treatments for cancer have become more and more advanced, which increases the chance of survival, the cost is high.
Diana Kwan, Chief Partnership & Marketing Officer of Chubb Life in Hong Kong, said: “Cancer requires time-sensitive and high cost treatment, and there are always long waiting lists at the public hospitals. Most of the medical insurance products in the market only provide partial reimbursement of hospitalisation expenses since there are commonly sub-limits for each benefit item. As the real partner to our customers throughout their journey in life, Chubb Life fully understands their concerns and needs. We are launching the new VCare Cancer Protector plan with the aim of providing coverage at an affordable cost to care for cancer patients, particularly those who want to receive comprehensive treatment by private doctors or in private hospitals.“
VCare Cancer Protector Product Highlights:
Product information, including the benefits, terms and conditions of VCare Cancer Protector, are included in the product brochure and policy document.
About Chubb Life in Hong Kong
Chubb Life is the global life insurance division of Chubb, the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Chubb Limited, the parent company of Chubb Group, is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb's core operating insurance companies are rated AA for financial strength by Standard & Poor’s and A++ by A.M. Best. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide.
With both general and life insurance operations, Chubb has been present in Hong Kong for more than 90 years, via acquisitions by its predecessor companies. To meet the financial protection and security needs of its broad range of customers in Hong Kong, Chubb Life in Hong Kong (Chubb Life Insurance Company Ltd.) offers a comprehensive array of quality life and medical insurance products and services.
More information can be found at life.chubb.com/hk.
Chubb Life Insurance Company Ltd.
Bonny Ching: +852 2837 7095; Bonny.Ching@Chubb.com