Generali Hong Kong introduces LionGuardian Beyond and LionGuardian PlusOne, enhanced critical illness plans with unlimited claims1 for the most concerned critical illnesses2 - cancer, stroke and heart attacks.
Based on the findings of a Nielsen survey commissioned by Generali2, a critical illness plan with affordable premiums and comprehensive coverage is preferred. Around 75% of respondents agree that “price and affordability” is a key consideration, closely followed by “comprehensiveness of the type and number of illnesses covered” (71%). When it comes to type of coverage, an overwhelming 66% of respondents see cancer as the most important critical illness to be covered, followed by heart disease (10%), stroke (8%) and illnesses related to major organs (6%).
Similarly, when it comes to protection for children, parents are most concerned with cancer among other illnesses, making it one of the must-have coverage options (54%), along with heart disease (13%) and mental illnesses, such as ADHD and autism (19%). Close to 70% of interviewed parents are willing to purchase critical illness plans for their children before they are born even if there are additional costs in premiums.
“At Generali, we believe in creating real solutions that address our customers’ needs. With the findings from the Nielsen research coupled with our claims experience3 where the top two causes of death are cancer and heart disease, we saw the need to enhance the coverage for these critical illnesses and have ensured our products features unlimited claims1 for major critical illnesses, especially in a market where most of the critical illness products only offer limited major claim.” said Rebecca Tan, Chief Distribution and Marketing Officer of Generali Life (Hong Kong) Limited.
Rebecca added, “We also understand as parents, their child’s health is of utmost importance, from gestation right up to adulthood, parents’ worry for their child will never cease. With this in mind, we have built in child benefits in LionGuardian Beyond from as early as 22 weeks of pregnancy4, allowing parents to protect their child for the next 100 years5, essentially giving them the Gift of Life.”
Generali has transformed the award-winning critical illness plan “LionGuardian”6 into the enhanced LionGuardian Beyond and LionGuardian PlusOne plans, delivering additional benefits over and beyond the popular critical illness plan.
Both plans have the following features that protect our customers from unexpected life events.
Exclusive in the market7, both plans offer unlimited claims1 for cancer8, stroke and heart attack until the age of 1005, protection for 138 illnesses, including Major Critical Illnesses and Early Stage or Minor Illnesses, and every major critical illness claim offers 100% of Sum Assured1, unaffected by previous claims on other critical illnesses covered.
Future premiums will be waived once the claimable amount reaches 100% of Sum Assured to provide customers with continuous protection throughout their life.
Even if the cause of the illness is unknown, benefits are also payable for losses in functionality of the key organs9 – heart, kidney, liver, and lung – with 100% of Sum Assured for each claim.
LionGuardian Beyond is a life protection plan with comprehensive critical illness coverage, which includes benefits for unborn babies, as well as the option to grow your benefits with interest and dividend.
From as early as the 22nd week of pregnancy10, mothers can opt for LionGuardian Beyond to provide their child with coverage11 for 100 years5.
An additional 40% of Sum Assured is payable for first diagnosed cancer before the age of 2212, and an additional 60% of Sum Assured payable for the first diagnosed major critical illness or death before the 10th Policy Anniversary12. Together with the 100% of Sum Assured for Major Critical Illness Benefit, the total benefit payout is up to 200% of Sum Assured.
Option to accumulate benefit pay-outs in a Benefit Accumulation Account to earn 4%13 non-guaranteed interest.
LionGuardian PlusOne is a critical illness plan with affordable premium, where customers can enjoy unlimited claims1 at a limited cost.
LionGuardian PlusOne offers comprehensive coverage at an affordable premium. Taking a 30-year-old non-smoking male at a sum assured of USD 125,000 (around HKD 1,000,000)14 as an example, the first year annual premium he has to pay is USD 517.50 (around HKD 4,000), which equates to approximately USD 1.40 (HKD 11 per day).
“This year, we celebrate 190 years of Generali Group. We are proud to be one of the few brands in the world that can claim such a long history, standing resilient through the test of time,” said Cillin O’Flynn, Chief Executive of Generali Life (Hong Kong) Limited. “Throughout the years, we have utilized our unique heritage of knowledge and experience to develop innovative solutions to meet customer needs, and we are proud to redefine the critical illness market by being the first and only7 company in the market to offer unlimited claims1 for major critical illnesses.”
“Our customers trust us to protect them, and we take great pride in fulfilling our promises, with 270,00015 claim cases paid in 20203. We are committed to protecting our customers, and achieving our ambition to become their Lifetime Partner”.