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Bupa Health Insurance (Bupa) announces the launch of "Bupa Critical Essential Care". In addition to a lump sum critical illness benefit, this new plan also pioneers a free Medical Top-up benefit in the market. With this extra benefit aiming at alleviating the heavy financial burden of medical care, the member can avail of medical protection up to HK$300,000 in the first year upon diagnosis of a Major Critical Illness, so that the high cost at the initial onset of treatment for the disease can be met with ease. The new plan covers a total of 58 critical illnesses, including Special Critical Illnesses such as early stage cancer and carcinomas in situ. Unlike similar products in the market which allow only one claim, Bupa ensures the member can claim for two specific carcinomas in situ to provide more comprehensive protection. From now until 26 August 2009, new applicants enrolling in both Bupa Critical Essential Care and Bupa CarePro can enjoy two months' free cover in the first year for both plans, while existing Bupa individual and group customers can enjoy three month's free cover of Bupa Critical Essential Care in the first year of enrolling.
Free Medical Top-up in addition to critical illness benefit
Statistics from the Hong Kong Cancer Registry show that 1 in 5 women and 1 in 4 men in Hong Kong has a chance of developing cancer. The cost of cancer treatment can be cripplingly high, particularly following the initial diagnosis of the disease. Taking colon cancer as an example, average medical expenses for the first two years can amount to approximately HK$700,000. Bupa's Managing Director Ms Ann Coughlan comments, "As a health insurance specialist, Bupa understands the kind of practical assistance that will help alleviate the worry of expenses at such a critical time. We know that the early diagnosis and treatment of the disease is crucial for recovery from a critical illness. This is why we are taking the lead to provide a free Medical Top-up benefit. It provides 12 months' extra medical cover to pay for medical expenses for Bupa individual health insurance scheme members troubled by Major Critical Illnesses. The amount of Medial Top-up benefit is based on the sum insured of the critical illness insurance plan and is up to HK$300,000. What's more, the member can meet subsequent long-term treatment costs with the extra cancer benefit under Bupa CarePro, which can be as high as HK$100,000 each year. With these two plans, Bupa members can enjoy truly comprehensive protection and peace of mind."
Cover for 58 Critical Illnesses, including carcinomas in situ in male and female
Bupa Critical Essential Care provides an extensive range of 58 critical illnesses, including 49 Major Critical Illnesses like cancer, heart disease and stroke, as well as 9 Special Critical Illnesses such as minimally invasive surgeries like angioplasty which are now commonly used to treat coronary disease. It also covers early stage cancer or carcinomas in situ in male and female, for example, early stage cancer and carcinomas in situ of the prostate, breast and cervix uteri etc. Coverage is much more extensive than ordinary critical illness insurance plans which do not cover this kind of carcinomas in situ. If the member is diagnosed with one Major Critical Illness, 100% of the sum insured will be paid. If a Special Critical Illness, such as carcinoma in situ of the breast is diagnosed, 20% of sum insured will be paid to enable prompt medical treatment at the early detection stage. Moreover, the member can claim for two carcinomas in situ, which means much greater protection than most other similar products in the market.
Competitive premium to suit people who prefer a higher sum insured
The premium of Bupa Critical Essential Care is much lower than that of most other level premium critical illness insurance plans. It is particularly suitable for people with considerable financial commitments but wish for a higher sum insured to protect the family. Taking an example of a 35-year-old non-smoker who enrols for a critical illness cover of HK$700,000. He/she only has to pay a monthly premium of HK$343 and this amount is guaranteed to remain unchanged for 5 years. In the 6th year, premium will be adjusted in line with age at renewal. While the premium will increase with age, the insured has the flexibility of adjusting the sum insured according to the level of personal financial commitments. For instance, you can reduce the sum insured to save on premium when the children are grown up and the home mortgage is fully repaid. The choice of sum insured ranges from HK$200,000 to HK$1,500,000. Anyone aged 15 days to 59 years are welcome to enrol, and cover will continue until you reach the age of 80.
Claim illustration of Bupa Critical Essential Care
When Mr Wong was diagnosed with colon cancer, he faced treatment costs of HK$390,000 for the first year alone. As a member of the Bupa CarePro Health Insurance Scheme, Mr Wong was entitled to an extra HK$200,000 in free Medical Top-up Benefit based on the HK$400,000 sum he had insured himself for with the Bupa Critical Essential Care Scheme.
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First Year (HKD) |
By taking out a HK$400,000 critical illness insurance plan, he gets a total of HK$600,000 including the free Medical Top-up benefit. |
| Medical expenses |
390,000 |
Bupa Critical Essential Care benefits
Lump sum critical illness benefit
Free Medical Top-up benefit
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400,000
200,000 |
| Bupa CarePro medical expenses reimbursement |
180,000 |
Bupa CarePro guarantees to cover the yearly cost of Mr Wong's prolonged cancer treatment for as long as he lives with no additional loading.
If Mr Wong had taken out a non-Bupa critical illness insurance plan, he would only have received HK$400,000 in critical illness benefit.
The above medical expenses are based on an actual Bupa claim case and are for illustrative purposes only. Actual treatment costs and figures may vary from case to case.
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