YF Life Launches “PrimeHealth Pro” and “PrimeHealth Jr. Care”
Multiple Illnesses Benefit / Multiple Critical Illness Claim Payments / First “Sperm / Oocyte Cryopreservation Benefit” in Hong Kong and Macau / Plan also applicable to Soon-to-Be-Born Baby

November 15, 2021

YF Life Insurance International Ltd. (YF Life) has announced the launch of its brand-new critical illness insurance plans “PrimeHealth Pro” and “PrimeHealth Jr. Care”, which cover up to 148 critical illnesses and offer cash benefits with no waiting period for cancer, heart attack, and stroke upon diagnosis1. For cancer protection, the two plans offer the market-first2 “Sperm / Oocyte Cryopreservation Benefit”. Eight rarely covered severe child diseases, including attention-deficit hyperactivity disorder (ADHD), autism, severe asthma, etc., are also covered to further strengthen the protections for child health. Also, “PrimeHealth Jr. Care” specially extends its protections to soon-to-be-born babies.

Ms. Jasmine Hui, Assistant Vice President – Product Strategy and Pricing, at YF Life, said, “With the ongoing pandemic, the general public has become more concerned about health risks. In light of this, we are launching ‘PrimeHealth Pro’ and ‘PrimeHealth Jr. Care’ with optimization in various areas: cancers with a relatively higher recurrence rate, for example, in addition to the multiple critical illness benefit and cash benefits for critical illnesses, the plans also offer a ‘Sperm / Oocyte Cryopreservation Benefit’, a first in Hong Kong and Macau2, reimbursing relevant actual expenses, including up to one year of storage fees incurred, in order to help the insured extend family planning to the future. In addition, we fully appreciate the compelling need of expectant parents to provide health protections to their child. Therefore, expectant parents can choose to take out ‘PrimeHealth Jr. Care’ from the 22nd week of gestation onward, providing protections for the soon-to-be-born child as well as the mother during pregnancy. Upon the birth of the baby, the child will seamlessly enjoy the full benefits of the policy.”

“PrimeHealth Pro” and “PrimeHealth Jr. Care” provide comprehensive protections and coverage of 148 critical illnesses, including severe psychiatric illness (severe depression, schizophrenia, or bipolar disorder), common eye diseases such as glaucoma, macular degeneration / early onset of cataract, as well as the most comprehensive protections for severe child diseases that are seldom covered in the market. Even if the insured is not diagnosed with a covered illness, in the event that the insured undergoes a designated surgery, and the confinement is in an Intensive Care Unit (ICU) for a specified number of consecutive hours1, ICU protection will be offered. In the unfortunate event that the insured is first diagnosed with a major critical illness, on top of the lump-sum benefit payment of up to 100% of the basic sum insured, all subsequent premium payments will be waived. The insured will then be entitled to four additional claim payments for cancer, heart attack, or stroke, each up to 100% of the basic sum insured. And for each diagnosis1, there will be a monthly cash benefit equivalent to 1% of the basic sum insured, with the aggregate cash benefits for critical illnesses being as much as 240% of basic sum insured. In other words, the total benefits payable are up to 740% of the basic sum insured. In the case of cancer, regardless of it being a recurrence, metastasis, existing, or new cancer, customers may opt for an advance payout, shortening the waiting period between the two diagnosis dates from 3 years to 1 year, with the benefit payable of up to 50% of the basic sum insured.

In addition to comprehensive and multiple illnesses protections, “PrimeHealth Pro” and “PrimeHealth Jr. Care” both offer a “Cash Value” equivalent to the policy’s guaranteed cash value plus a non-guaranteed “Terminal Bonus” offered when the policy is surrendered from the third policy anniversary onwards, as long as the total benefit paid is less than 100% of the basic sum insured. More importantly, there will be no deduction of any claims paid. Customers can thus not only build a safety net for their health, but also accumulate sizable cash value within their policy, appreciating their wealth.

Mr. Peter Yip, Vice President – Marketing at YF Life, said, “We fully appreciate that our most valuable asset is ‘Health’. Knowing that your health is well protected will give you the confidence to take control of your future. To encourage the general public to take out comprehensive critical illness protections as early as possible, triple offers3 will be provided to successful applications on or before December 31, including up to 30% discount on annualized premium, up to 100% extra coverage for the first 15 years on major critical illness / death benefit, and a guaranteed option to purchase of a designated critical illness basic plan without having to provide evidence of insurability upon the expiry of the extra coverage. Also, with the launch of the two plans, we are specially introducing our ‘Critical Illness Protection Plus!’ multimedia promotion campaign to raise public awareness of the availability of critical illness protection.”

Thanks to their unique advantages, YF Life’s diverse range of competitive critical illness protection plans have been recognized and honored repeatedly with awards in the Bloomberg Businessweek Financial Institution Awards, and the BENCHMARK Wealth Management Awards under the category of “Critical Illness Product” over the years.

YF Life Insurance International Limited is a member of publicly listed Yunfeng Financial Group Limited, whose major shareholders include Yunfeng Financial Holdings Limited4 and Massachusetts Mutual Life Insurance Company4, one of the “Five Largest US Mutual Life Insurance Companies”5. Leveraging our robust financial background and solid reliability, YF Life is committed to helping customers “own the future” by providing professional and technology-enhanced one-stop risk- and wealth-management consulting services, as well as MPF services.

For more details of “PrimeHealth Pro” and “PrimeHealth Jr. Care” and the promotion campaign, please visit www.yflife.com or scan the QR codes:

Product website Product video

Notes:

1.    For details of “PrimeHealth Pro” and “PrimeHealth Jr. Care”, please refer to the relevant policy documents.
2.   Based on the similar types of plan in the Hong Kong and Macau market, as of the publishing date of this press release in November 2021.
3.   Subject to relevant terms and conditions. 
4.   Yunfeng Financial Holdings Limited and Massachusetts Mutual Life Insurance Company have an indirect shareholding in Yunfeng Financial Group Limited.
5.   The “Five Largest US Mutual Life Insurance Companies” is ranked according to the results of “Insurance: Life, Health (Mutual)” on total revenues for 2020, and based on the FORTUNE 500 as published on June 1, 2021.

YF Life launches “PrimeHealth Pro” and “PrimeHealth Jr. Care” with an array of market advantages

YF Life launches “PrimeHealth Pro” and “PrimeHealth Jr. Care” with an array of market advantages

YF Life launches “PrimeHealth Pro” and “PrimeHealth Jr. Care” with an array of market advantages

YF Life launches “PrimeHealth Pro” and “PrimeHealth Jr. Care” with an array of market advantages

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