AXA launches first-in-market “SurgiCare Surgical Insurance Plan” to provide lump-sum payout for VHIS defined surgeries

Survey: One in every three people in Hong Kong have had
surgery
Recovery after surgeries could cost over HKD250,000
AXA fills the protection gap with premium as low as HKD10
a day

HONG KONG SAR – Media OutReach – 5 August 2021
–  AXA Hong Kong (AXA) launches
“SurgiCare Surgical Insurance Plan” (“SurgiCare”). “SurgiCare” is the
first-in-market surgical insurance plan based on the four levels under the existing
Voluntary Health Insurance Scheme (VHIS) schedule of surgical procedures –
minor, intermediate, major and complex, to provide comprehensive coverage for over
450 types of surgery. “SurgiCare” offers lump-sum benefits up
to 100% of the sum insured for complex surgeries and 30% for major surgeries.
It also offers unlimited[1] number
of claims with a lump-sum payout of HKD2,500 and HKD6,000 for each of the covered
minor and intermediate surgeries respectively.

Kevin
Chor, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau,
shared his insights into the recent survey results on Hong Kong people’s
experience with surgery, and introduced the key benefits of the newly launched
“SurgiCare Surgical Insurance Plan”.

It
does not matter what illness it might be or where the surgery takes place, “SurgiCare” offers customers a
lump-sum benefit whenever a surgical procedure is medically necessary and
covered by the VHIS. “SurgiCare” offers support to non-medical daily and
additional expenses incurred during the recovery journey, which serves as a
great supplement to customers’ existing medical insurance plans that can only cover
the medical bills. With “SurgiCare”, customers can enjoy a truly comprehensive
health protection.

With
premium as low as HKD10 per day[2], customers
can be well protected by “SurgiCare”. Premium of “SurgiCare” will not be affected by medical
inflation. Regardless of any change in health
condition and claim history after plan enrolment, renewal
of “SurgiCare” is guaranteed up to the age of 100. From
now until 30 September 2021, customer who purchases two policies or more with
different insured person(s), each policy can enjoy up to 12-month premium
rebate.

Major or complex surgeries are common
and require financial support and time for recovery

In
Hong Kong, over one-third (36%) of people have gone through at least one surgery
in their life, according to a joint survey[3]
conducted by AXA and YouGov, an international research and data analytics
group. Among those who have undergone major or complex surgeries, nearly 20%
spent over HKD250,000 during their recovery which can last for over two weeks
(66%) or even over 3 months (14%). This may also lead to a loss of income – 62%
experienced a surgery-related income loss, of which nearly 10% had no income
for more than one year. Furthermore, the data of Hopitial Authority[4] shows
that major and complex surgeries are very common. In 2019-2020, over 100,000 operations
performed inside operating theatres were major or complex surgeries, which
accounted for 57% of the total number of operations.

Kevin Chor, Chief Life and Health Insurance Officer, AXA Hong
Kong and Macau, said, “From
our survey results and the Hospital Authority data, we can see that surgeries
are very common in Hong Kong and many citizens have undergone major or complex
surgeries. Apart from medical expenses, post-operative care is essential. Once
discharged from the hospital, there might be non-medical needs such as purchase
of  nutritional supplements, home medical
equipment, or even organising professional caregiving service which can be expensive.
However, many of these expenses may not be reimbursed by medical insurance nor
covered by critical illness insurance. ‘SurgiCare’ helps fill this protection
gap and provides holistic protection to our customers, underscoring AXA’s
commitment to being a true lifelong partner to our customers.”