FWD Hong Kong commits to covering unknown diseases in a first for the city

First insurer in the market to partner with Senior Citizen Home Safety Association to provide dementia support.

In a first for the city1, FWD Hong Kong (“FWD”) has launched critical illness insurance plans in Hong Kong that offer protection for both defined and unknown diseases or injuries. The maximum benefit level exceeds 1,000% of the initial sum insured. These new CXD Plans, “Crisis XDefender Signature” (“CXD Signature”) and “Crisis XDefender Signature Plus” (“CXD Signature+”), aim to meet the evolving needs of customers in Hong Kong.

FWD has also partnered with Senior Citizen Home Safety Association (“SCHSA”) to provide dementia support services to customers of the two new CXD plans2, helping Alzheimer’s disease patients and their caregivers in a systematic way.

  • Coverage of defined and unknown diseases with over 1,000% of the initial sum insured 

While traditional critical illness insurance plans cover only defined/listed diseases, the new CXD Plans extend their protection to undefined/unknown diseases with simple claims criteria3. The new plans also offer multiple benefits for critical illnesses, namely cancer, heart attack, and stroke, giving out as many as 5 times of extra benefit, up to 690% of the initial sum insured. The maximum benefit level of CXD Signature+ exceeds 1,000% of the initial sum insured (please see Appendix I).

Kelvin Yu, Chief Product Officer of FWD Hong Kong & Macau, said, “Patients of serious illnesses and injuries need a broad and varied range of physical and mental support throughout their recovery. The emergence of COVID-19 also reminds us of the potential threat unknown diseases can pose to public health. Our launch of the new Crisis XDefender plans is designed to provide customers with better coverage and more comprehensive protection.”

Paul Tse, Chief Marketing Officer of FWD Greater China, Kelvin Yu, Chief Product Officer of FWD Hong Kong & Macau, and Maura Wong, Chief Executive Officer of SCHSA, attended the FWD press conference together with special guests Ronald Cheng and Johnny Hui.
  • Innovative and comprehensive dementia support

Statistics from Hong Kong Alzheimer’s Disease Association in 2019 show that 1 out of every 10 elderly citizens aged 70 or above has dementia4, and the number of patients is expected to grow significantly. With this in mind, FWD has partnered with SCHSA to provide CXD Plans’ insured customers complimentarily with a full-scale dementia support package such as 24-hour Care-on-Call Service (please also see Appendix II).

 Maura Wong, Chief Executive Officer of SCHSA, said, “Over the past 25 years, SCHSA’s Care-on-Call Service has offered emergency tele-aid and all-rounded vigilance services to Hong Kong’s elderly. Following our recent launch of ‘Care-on-Call Brain Health Navigator Scheme’, FWD is the first insurance company we’ve worked with to tailor our support services for patients and caregivers for its customers and their families.”

  • Wide-ranging and tailored rehabilitation support

Our Lifestyle Management Program of the CXD Plans targets heart attack and stroke patients to help them recover through tailor-made rehabilitation programs. FWD has also partnered with professional medical institutions to provide customers with a suite of value-added services, including second medical opinion and hospital admission support.

About FWD Hong Kong & Macau

FWD Hong Kong & Macau is part of the FWD Group, the primary insurance business of investment group, Pacific Century Group. FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, and Malaysia.

FWD Hong Kong has been assigned strong financial strength ratings by international rating agencies. It offers life and medical insurance, general insurance, employee benefits, and financial planning. FWD Macau provides a suite of life and medical insurance.

By creating fresh customer experiences with easy-to-understand products supported by digital technology, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance.

For more information about FWD Hong Kong & Macau please visit www.fwd.com.hk and www.fwd.com.mo.

Featured photo: Kelvin Yu, Chief Product Officer of FWD Hong Kong & Macau, introduces Crisis XDefender Signature and Signature Plus that go in line with FWD’s belief of better coverage, more comprehensive protection.

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