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Be prepared for illness

Ensure the happiness and well-being of your family by planning ahead for unforeseen illness.

Preparation and protection

Health Facts

Currently the three major fatal diseases in China are cerebrovascular disease (stroke), heart disease and cancer1. A global medical survey2 also indicates that cardiovascular disease and cancer are the major reasons for medical claims today and are expected to continue over the next five years.

In China, cerebrovascular disease is now ranked first in fatal diseases, exceeding heart disease and cancer. There are 2.5million new cases of strokes every year in China and among over 7million existing cerebrovascular disease patients, 1.5million of them die each year due to stroke3.

On the other hand, we are witnessing a growing number of young cancer patients and an upwards trend in cancer morbidity and mortality in China. According to the "2012 Chinese Cancer Registry Annual Report", there are 3.12million new tumor cases in China every year with 8,550 cases per day on average, among which six people are diagnosed cancer every minute.

Cost of critical illness

While many critical illnesses nowadays may not necessarily be the death sentence they once were, their effects can still be brutal both emotionally and financially. Please refer to the below estimated treatment costs for these diseases: 

Category
Approximate costs (RMB'000)
Cancer
120-500
Cerebral apoplexy and sequela
100-400
Acute myocardial infarction
100-300
Major organ transplantation and hematopoietic stem cell transplantation
200-500
Operation on coronary artery
100-300

Note: The approximate costs shown are for reference only and will vary from case to case.

Source: Insurance Association of China

Loss of income

Medical costs alone can be hard enough to cope with but don't underestimate the financial impact of loss of income as a result of contracting a critical illness. There are several scenarios that could lead to financial problems:

  • Inability to work during treatment and recovery periods which may take years
  • Inability to meet the demands of your job even after recovering from the illness
  • Inability to work at all due to poor health, causing you to end your career prematurely

The disastrous effects of critical illness highlight the fundamental importance of protecting your family.

1 Source: The Ministry of Health, PRC

2 Source: Towers Watson 2011 Global Medical Trends Survey

3 Source: The Ministry of Health, PRC

A good family protection plan needs to be flexible enough to meet your evolving needs and enable you to continue fulfilling your responsibilities without worry.

Evolving insurance needs at different stages of life

Your protection needs to change as you progress through the different stages of life. With increasing responsibilities it is important to ensure that unexpected illness doesn't get in the way of shaping your family's dreams.

If you do not have protection, an unexpected event could cost you dearly by affecting the living standard of your family, the momentum of your wealth accumulation or the successful attainment of your child's educational goals and your retirement goals.

It is clear that the earlier you start protecting yourself and your family, the less you will have to worry about their well-being. Starting early also enables you to take advantage of lower premiums and more comprehensive coverage while you are in good health. You can enjoy these lower premiums for the rest of your policy term across different life stages.

Figuring out your needs in family protection will help you select the right products. Your family protection needs may include:

 
Protect against life's uncertainties
You need your family to maintain their living standard should misfortune strike.
Protect your wealth
You need your plan to provide adequate protection so you and your family are not impacted financially should an unfortunate event occur. 
Provide lifelong cover
You need to be protected through different life stages.
Extra protection
You need your plan to provide extra protection to keep your family secure.
Flexibility
You will need flexible payment and ways to meet your needs at different times.

More products and information

 
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Global experts' advice to help you capture global investment opportunities and mitigate investment risks to meet your diversified investment and wealth management needs. Our investment products include: Structured productsDual Currency Investment and Enhanced Yield InvestmentOverseas Investment Plan, and Local Unit Trust and Hong Kong Mutual Recognition of Funds.

 
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We take into account your protection needs at various life stages to help you find out suitable insurance plans, leveraging on our ability to offer a one-stop platform for your insurance needs.

You could check our insurance partner policies including Travel insuranceHealth insurance, and Life insurance, and our Online service.

 
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Frequently asked questions

Although the above information is carefully written, the Bank does not warrant, state or guarantee the accuracy or completeness of the above information. The above information is not and should not be regarded as an offer or purchase invitation for any financial product, nor should it be viewed as an investment proposal.