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Low claims discount

We are introducing a new, Low Claims Discount, exclusively for residents of Hong Kong. This is available for our individuals and families, and groups/ businesses are not eligible for this discount.  If you are eligible for a Low Claims Discount, it will already have been applied to your premium.

Read more about how it works below.

 

Terms & Conditions

Your policy will qualify for the Low claims discount if your policy comes up for renewal in 2019, and you satisfy the eligibility criterion below.

 

If you are an existing customer and your plan commenced prior to 1st January 2019

Low Claims discount

When your policy comes up for renewal in 2019,  this is how we will assess whether you are eligible for the Low Claims Discount:

  • We will take the total premium, (net of insurance premium tax), you have paid to us since your renewal date in 2016, or since your date of entry if later.
  • We will calculate the total amount we have paid in respect of claims received during the same period, and add in any pending claims

If the claims we have received + the claims pending amount is equal to or less than 35% of the total premium you have paid to us, you will be eligible for the Low Claims Discount.

Pending claims are claims we have been notified of. We will make an estimate of the pending claim value.

 

Co-insurance waiver

(only if your plan commenced prior to 1st January 2019)

Provided you took out your policy before 1st January 2019 we will not apply the 15% co-insurance on out-patient treatment claims (which applies on the Bronze or Silver plans) for as long as you are eligible for the Low Claims Discount. If you are no longer eligible for the Low Claims Discount, the 15% co-insurance on out-patient treatment will apply from your renewal date.

 

If you are a new customer taking out an Elite plan in 2019, you will qualify for a 15% introductory discount off your first years’ premium.

When you renew your policy in 2020, you will continue to benefit from this discount if you become eligible for the Low Claims Discount but not for the co-insurance waiver.

 

How we assess eligibility

When your policy comes up for renewal in 2019, this is how we will assess if you are eligible for the Low Claims Discount:

  • We will take the total premium, (net of insurance premium tax), you have paid to us since your renewal date in 2016, or since your date of entry if later.
  • We will calculate the total amount we have paid in respect of claims received during the same period, and add in any pending claims

If the claims we have received + the claims pending amount is equal to or less than 35% of the total premium you have paid to us, you will be eligible for the Low Claims Discount.

Pending claims are claims we have been notified of. We will make an estimate of the pending claim value.

Important Notes

If we receive claims for treatment where the treatment date is before the date on which we issue our renewal invoice, we will withdraw the Low Claims Discount, and you will have to pay the full 2019 renewal premium.

If you have already paid your premium less the 15% discount, we will deduct the amount of the discount from your claim payment.

The Low Claims Discount applies per household. So, if your family has separate policies, we will total the premiums and claims from all policies registered to your household when we calculate whether your policies are eligible for the Low Claims Discount.

Exceptions

If you are receiving treatment for cancer which is covered by your plan, you will benefit from the Low Claims Discount.

The Low Claims Discount

The Low Claims Discount is 15% of the gross premium, net of any insurance premium tax.

We reserve the right to alter the Low Claims Discount in the future, to alter the terms of the Low Claims Discount, and/or to withdraw the Low Claims discount, at our discretion, at any time.

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