Medical care

Why buy medical insurance?

Worry free healthcare, safeguarding the health of the whole family

Why buy medical insurance? Go to the hospital for medical treatment, and you don’t have to worry about the medical expenses for major and minor illnesses.

Medical insurance provides insurance coverage for medical expenses incurred by the insured in the treatment of illness or accidental injury. When the insured person falls ill and visits a medical institution for treatment

After the medical expenses are reviewed by the insurance institution, a certain amount of economic compensation will be given. It is worth mentioning that Hong Kong’s medical insurance has a higher comprehensive cost-effectiveness, wider coverage, and global coverage of medical institutions.

Ramification s of a project

· Medical expenses are based on the principle of ‘actual reimbursement’, without any savings function or investment component.

·It can be independently insured or attached to a life insurance policy, and most medical insurance can be renewed annually or even lifelong, with premiums generally increasing with age.

·When medical insurance serves as the primary insurance, it comes with a small death benefit.

·Usually, a 24-hour international emergency support hotline service is provided.

·The premium is adjusted according to the insured amount and coverage items, and the general plan sets the level of coverage for the insured amount.

·You can choose a lifetime insurance plan.

·In addition to general uninsured items, individual policyholders’ physical conditions may be excluded from coverage.

·Compared to group medical insurance, purchasing individual medical insurance can make up for the limited coverage of group medical insurance and provide more comprehensive protection.

·Part or all of the coverage of the policy will only take effect after the designated time (waiting period) specified in the policy. Generally speaking, the waiting period does not apply to claims arising from accidents. Claims in the following two situations are usually not accepted:

·Medical expenses incurred during the waiting period; Or diseases and symptoms that occur during the waiting period, as well as related medical expenses.

Security classification

·Outpatient plan.

·Hospitalization plan.

·Hospitalization cash plan (different from hospitalization plan).

Outpatient plan

·Outpatient medical expenses.

·Including: consultation fees for registered doctors or specialists, medication fees, special verification fees, total laboratory fees, etc.

·Outpatient plans usually set compensation limits, such as specifying the maximum compensation amount for each treatment and the limit on the number of treatments per year.

·Some plans even include traditional Chinese medicine clinics or bone marrow services.

Hospitalization Plan

• Protect the insured from hospitalization expenses due to illness or accidental injury.
• The insurance items include: doctor’s fees, rent and meal expenses, doctor’s tour room fees, surgery and operating room fees, anesthesiologist fees, intensive care and personal care expenses, etc.
• Different hospitalization plans may have varying insurance premiums and coverage amounts, as well as different coverage items.
• Some policies may require policyholders to pay a ‘deductible’, which is not the full compensation amount.
• There is a maximum compensation amount and a limit on the number of compensations. The hospitalization expenses for each illness must not exceed the maximum compensation amount in order to receive full compensation.
• There is a limit on the number of days for compensation.
• Surgical fees, anesthesiologist fees, and operating room fees are all compensated in fixed amounts or proportionally based on the complexity of the surgery (which belongs to major, medium, or minor surgeries).
• The more protection and coverage a plan usually has, the higher the premium.

Hospitalization cash plan (different from hospitalization plan)

Non actual reporting and actual expenses.

• Based on the number of hospitalization days of the policyholder, a fixed amount of cash will be distributed daily for the policyholder to use freely to meet daily expenses.
• There is a limit on the number of days for compensation.
• Medical expenses during hospitalization are not covered by this guarantee.
• Premium determination.
• It depends on the policy plan.
• It depends on the insured amount.
• Personal background such as age, gender, health status, and medical records.
• Insurance premiums generally increase with age.
• Habits such as smoking and extreme sports.
• Premiums can be paid monthly/quarterly/semi annually/annually.