FWD launches new VHIS vFamily Medical Plan First-in-Market[1] Family Booster for Child Option (Optional Benefit) [2] with no health underwriting required for covered child coverage across two generations[3] with one medical plan

HONG KONG SAR –
Media OutReach Newswire – 19 March 2024 – Hong Kong has seen a continued growth in the number of households during the past 10 years. This number stands at around 2.72 million in the third quarter of 2023, up 12%⁴ from the same period of 2013. With this growing trend, there is stronger market demand for family-related medical protection; meanwhile, customers are also having higher requirements on both its coverage and details. As a trailblazer in the market of Voluntary Health Insurance Scheme (“VHIS”),
FWD Hong Kong (“FWD”) unveils the new
vFamily Medical Plan (“vFamily”) (Certification Number: F00072). It provides full coverage⁶ on a wide range of hospitalisation and surgical expenses anywhere in the world⁵. Apart from fulfilling one’s self-protection needs, FWD walks an extra mile of extending the medical protection to their children. vFamily comes with the first-in-market¹
Family Booster for Child Option (Optional Benefit)² to offer comprehensive and relatively affordable medical protection solution for the children of Insured Person, providing a safety net for unpredictable medical expenses.

Kelvin Yu, Chief Product Officer for FWD Hong Kong & Macau said, “FWD has always been customer-led and innovative in providing insurance solutions that are value for money and can meet the needs of local households. As shown in our recent ‘Be True’ campaign, people nowadays tend to subscribe to family plans for music or TV streaming services. I believe that the insurance sector can take inspiration from this and adopt a more family-oriented approach, offering more than just individual protection. With that in mind, FWD’s brand-new vFamily Medical Plan offers a wide range of first-in-market¹ coverage items within the segment of Voluntary Health Insurance Scheme (VHIS), supporting the needs of pregnant mothers while being eligible for VHIS tax deduction⁷. The Family Booster for Child Option (Optional Benefit)² provides coverage to support the healthcare need of a family across two generations, with a relatively affordable premium. With no health underwriting required, the covered children can navigate their health journey with added confidence.”

Extending innovative family care concept; filling the health protection gap

Building a family is a new milestone in life. From the birth to the growth of a child, FWD supports the healthcare needs of our customers and their families at every stage of their lives.

1. Health protection for the Insured Person is pivotal as they are the financial pillar of the family:

• vFamily provides full coverage⁶ on a range of medical expenses, including Prescribed Non-surgical Cancer Treatments¹², kidney dialysis¹³ and organ or bone marrow transplantation. The Insured Person is entitled to an additional benefit for these three kinds of treatments of up to HKD550,000 per Disability¹¹ per Policy Year, which further eases the burden throughout the treatment journey.
• FWD is dedicated to innovation. vFamily pioneers¹ the “per Disability¹¹ per Policy Year” claims mechanism, enabling the Insured Person to have the limits of individual benefit items and the aggregate limit per Disability¹¹ per Policy Year counted afresh for each Disability¹¹ and in each Policy Year. They will not have to be troubled by losing coverage due to the quickly exhausted limits in a policy year or for a particular Disability¹¹.
• vFamily provides full coverage⁶ for the Eligible Expenses incurred for pregnancy complications⁸, first-in-market¹ double cash benefit⁹ for Confinement in Intensive Care Unit in Hong Kong due to pregnancy complications and double death benefits¹⁰ due to pregnancy complications.

2. Encouraging everyone in the family to stay healthy. vFamily offers individual and extra no claims premium discounts of up to 30%¹⁴:

• Individual no claims premium discount of up to 15%.
• As a reward for staying healthy together with their family members, the Insured Person and their insured family members can also enjoy extra no claims premium discount of up to 15%, if they have not made any claims in two or more consecutive policy years immediately prior to renewal.

3. Extending care to the current and/or future children of the Insured Person:

• By applying for the Family Booster for Child Option (Optional Benefit)², each current child and/or future children of the Insured Person will be entitled to coverage until the attained age of 19 upon approval of nomination without health underwriting. There is no restriction on the number of covered children.
• Family Booster for Child Option (Optional Benefit)² :
  
  o Each covered child will be provided with worldwide medical coverage for First Confirmed Diagnosis of Designated Disability, the lifetime benefit limit is up to HKD800,000 for each covered child¹⁵.
  
  o Policyholders have the right to apply for a designated medical insurance plan for each covered child once, when they reach the ages (attained age) of 5, 10, 15 or 18, without providing health evidence¹⁶.
  
  o It provides child development benefit to reimburse eligible expenses¹⁷ incurred for child development assessment, training therapy or health check-up, to support children’s healthy growth.
• Taking an example of a female Insured Person who is 29 years old (attained age), the daily premium of the first year of Family Booster for Child Option (Optional Benefit)² can be less than HKD 3. This will add all-round medical protection for children. There is also no restriction on the number of covered children.

Add-on service beyond financial support: FWD Care third-party professional health assistance services^19,20

Customers can reach out to professional health assistance services provided through FWD when they need information or consultation. CANcierge provides support services with cashless facility²¹ tailor-made exclusively to meet patients’ needs. They can also enjoy the Second Medical Opinion Service provided by some of the highest-ranked US medical institutions and international SOS 24-hour Worldwide Assistance Service.

Appendix

Customers who apply for vFamily as well as Family Booster for Child Option (Optional Benefit)² can enjoy the “8+8” promotion, i.e. two and six months²² of premium discounts for vFamily and Family Booster for Child Option (Optional Benefit)² respectively in the first two policy years.

Awarded “Health Insurer of the Year” for two consecutive years²³

FWD Hong Kong has been awarded the “Health Insurer of the Year”²³ at the “5-Star Insurance Award 2024” by 10Life, the only insurer in Hong Kong to receive this recognition for two consecutive years. FWD’s six products, including voluntary medical insurance and critical illness insurance, have received 18 five-star ratings²⁴, the most five-star ratings in Hong Kong. This recognition from the industry serves as a testament to the leading position and strength of FWD’s health insurance products.

Kelvin Yu, Chief Product Officer for FWD Hong Kong & Macau (left) and Dennis Lun, 10Life CEO (right) at the 10Life “5-Star Insurance Award 2024” award ceremony. FWD Hong Kong has been awarded the “Health Insurer of the Year” for two consecutive years.

vFamily Medical Plan and Family Booster for Child Option (Optional Benefit)² is underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability). The certification number of vFamily Medical Plan is F00072 and VHIS provider registration number of FWD is 00036. The above information is for reference only and does not contain the full terms and conditions, key product risks and full list of exclusions of the policy. For the details of benefits and key product risks, please refer to the
product brochure; and for exact terms and conditions and the full list of exclusions, please refer to the policy provisions of the plan (https://www.fwd.com.hk/en/vhis/vfamily/).

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1 Per a comparison made by FWD on 4 March 2024 among the VHIS medical plans of key insurers available in Hong Kong, benefits payable per Disability per Policy Year for each benefit item, cash bene­fit for designated Day Case Procedure which is performed at a Designated Healthcare Services Provider, cash benefit for major and complex surgeries, cash benefit for Confinement in Intensive Care Unit in Hong Kong, cash benefit for Confinement in Intensive Care Unit in Hong Kong due to pregnancy complications and death benefit due to pregnancy complications are ­first-in-VHIS-market. Per a comparison made by FWD on 4 March 2024 among the medical plans of key insurers available in Hong Kong, FWD’s Family Booster for Child Option is first-in-market optional benefit.

2 Family Booster for Child Option is an optional benefit selected by the Policy Holder at the time of application and is not part of the VHIS Certified Plan – vFamily Medical Plan (Certification Number: F00072).

Any benefit amount(s) paid under the Family Booster for Child Option shall not be counted towards any benefit limit(s) as applicable under vFamily Medical Plan and shall not affect the coverage available to the Insured Person and/or the eligibility of no claims premium discount under vFamily Medical Plan. The premiums you paid (if any) for the Family Booster for Child Option are not eligible for claiming tax deduction and individual and extra no claims premium discounts. For details of Family Booster for Child Option, please refer to the flyer of Family Booster for Child Option (Optional Benefit).

3 In addition to providing protection for the Insured Person under the vFamily Medical Plan, if the Policy Holder applies for the Family Booster for Child Option, each of the current and/or future children of the Insured Person under the vFamily Medical Plan will be entitled to the benefits and/or rights under the Family Booster for Child Option upon approval of nomination, subject to the corresponding waiting period, benefit limits (if applicable) and terms and conditions.

4 Statistics from the Census and Statistics Department of Hong Kong: https://www.censtatd.gov.hk/tc/wbr.html?ecode=B10500012023QQ03&scode=200

5 Eligible Expenses incurred for psychiatric treatments, cash benefit for Confinement in Intensive Care Unit in Hong Kong and cash benefit for Confinement in Intensive Care Unit in Hong Kong due to pregnancy complications shall only be payable for Confinement in Hong Kong. Please refer to Section 3(l) of Part 6 of the Terms and Benefits and Sections 8 and 9 of the Supplement – Other benefits under the Policy provisions of vFamily Medical Plan (Certification Number: F00072) product brochure for details.

6 Full cover / Full coverage shall mean no itemised benefit sublimit, the actual amount of Eligible Expenses and other expenses charged is subject to the aggregate limit per Disability per Policy Year. Full cover / Full coverage applies to selected benefit items only’.

7 If you are a Hong Kong taxpayer, you may be eligible for tax deduction of up to HKD8,000 per Insured Person per year of assessment for premium you paid for yourself and your specified relatives. The Family Booster for Child Option (Optional Benefit) is not part of the VHIS Certified Plan and the premium paid (if any) shall not be entitled to tax deduction. Tax deduction is subject to the latest rules and regulation of Inland Revenue Department of Hong Kong Special Administrative Region. Please refer to the website of the Inland Revenue Department (“IRD”) of Hong Kong Special Administrative Region (www.ird.gov.hk/eng/) and VHIS

(www.vhis.gov.hk/en/) or contact the IRD directly for any tax related enquiries. FWD and the intermediaries do not provide tax advice. You should always consult with a professional tax advisor if you have any doubts.

8 This benefit shall be payable for the Eligible Expenses incurred for the benefit items described in benefit items under (a) to (i) of I. Basic benefits in the Benefit Schedule where a surgical procedure is performed by a Surgeon during Confinement or in a setting for providing Medical Services to a Day Patient as a result of the following pregnancy related complications arising during antepartum stages of pregnancy or childbirth – (a) ectopic pregnancy; (b) molar pregnancy; (c) disseminated intravascular

coagulopathy; (d) pre-eclampsia; (e) miscarriage; (f) threatened abortion; (g) medically prescribed induced abortion; (h) foetal death; (i) postpartum hemorrhage requiring hysterectomy; (j) eclampsia; (k) amniotic fluid embolism; or (l) pulmonary embolism of pregnancy. This benefit shall only be payable provided that the date of diagnosis of such pregnancy complication is at least twelve (12) months after the Policy Effective Date.

9 This benefit shall be payable if the Insured Person is Confined in a Hospital in Hong Kong during which she is admitted to an Intensive Care Unit for at least three (3) consecutive days, and such Intensive Care Unit admission is solely and directly caused by a pregnancy related complication for which the Eligible Expenses incurred during such Confinement period are payable in accordance with Section (H) of Part 1 of the Supplement – Enhanced benefits under the Policy provisions.

10 This benefit shall be payable if the death of the Insured Person is solely and directly caused by a pregnancy related complication for which the Eligible Expenses incurred are payable in accordance with Section (H) of Part 1 of the Supplement – Enhanced benefits under the Policy provisions.

11 a. The applicable benefit limit and/or aggregate limit per Disability per Policy Year shall be counted anew for each Confinement or Day Case Procedure for the same Disability provided that the Confinement or Day Case Procedure does not occur within 90 consecutive days following the Last Date (as defined in the Supplement – Calculation and limitation of benefits under the Policy provisions) of the previous Confinement or Day Case Procedure concerning the same Disability.

b. Where the Insured Person is Confined or receives any Day Case Procedures involving more than 1 Disability, all Disabilities involved in the same Confinement or Day Case Procedure would be subject to 1 applicable benefit limit and/or aggregate limit per Disability per Policy Year.

For details, please refer to Section 1 of Part 1 of the Supplement – Calculation and limitation of benefits under the Policy provisions.

12 Treatments covered here only include radiotherapy, chemotherapy, targeted therapy, immunotherapy and hormonal therapy.

13 FWD shall have the right to ask for proof of recommendation e.g. written referral or testifying statement on the claim form by the attending doctor or Registered Medical Practitioner.

14 Individual and extra no claims premium discounts are not applicable to the premium of Family Booster for Child Option.

15 If the Covered Child has the First Confirmed Diagnosis of a covered crisis or special disease for juvenile (“Designated Disability”) after 2 consecutive Policy Years from the Family Booster for Child Option Effective Date (“Waiting Period of Child Booster Benefit”), FWD will pay the Eligible Expenses arising from such Designated Disability on a reimbursement basis of the actual amounts incurred in accordance with Part 6(A) of the Terms and Conditions of Family Booster for Child Option attached to the policy provisions of the Basic Policy. Child booster benefit will not be payable if the Designated Disability is diagnosed or treated within or prior to the Waiting Period of Child Booster Benefit. Please refer to the Terms and Conditions of the vFamily Medical Plan.

16 This option is only applicable if the Family Booster for Child Option has been in force for at least 2 consecutive Policy Years from the Family Booster for Child Option Effective Date. The Policyholder can exercise a one-off right to apply for a designated medical insurance plan for each Covered Child without providing health evidence. The request has to be made within 31 days prior to the Renewal Date on or immediately following the date that the Covered Child attains the age of 5,10,15 or 18.

Any Designated Disability for which Eligible Expenses have been paid or will be payable under the child booster benefit as stated in Part 6(A) of the Terms and Conditions of Family Booster for Child Option attached to the policy provisions of the Basic Policy shall be covered under the designated medical insurance plan. For the avoidance of doubt, FWD shall not cover any sickness, disease or injury of a Covered Child under the designated medical insurance plan which is applied for by exercising the one-off right if it occurs within or prior to the Waiting Period of Child Booster Benefit. Such terms and conditions are determined by FWD from time to time at its sole discretion, including but not limited to the FWD’s prevailing rules and regulations at the time of application. For more details, please refer to Part 6(C) of the Terms and Conditions of Family Booster for Child Option attached to the policy provisions of the Basic Policy.

17 If the Family Booster for Child Option has been in force for 5 consecutive Policy Years from the Family Booster for Child Option Effective Date, this benefit will be payable once every 5 consecutive Policy Years and up to age 19 (attained age) of the Covered Child if the Covered Child undertakes any of the Child Development Activities in the next Policy Year following the five-year period. Any unused benefit will be forfeited and cannot be carried forward or refunded by cash. “Child Development Activities” shall mean any one of the following activities: (a) child development assessment; (b) training therapy; or (c) health check-up. For more details, please refer to the Terms and Conditions.

18 Based on the standard premium (excluding any premium discounts and levies), taking a female Insured Person who is 29 years old (attained age) as an example for the vFamily Medical Plan with Family Booster for Child Option (Optional Benefit) with annual premium payment. The quoted premium is non-guaranteed and will be determined each year based on the actual age of the policyholder at the time of renewal.

19 This benefit / service is optional and does not form part of the Terms and Benefits of the VHIS Certified Plan – vFamily Medical Plan (Certification Number: F00072). You have the right to opt-out this benefit / service. Please inform FWD in writing if you do not want to receive this free additional benefit / service.

20 CANcierge, Second Medical Opinion Services and International SOS 24-hour Worldwide Assistance Services are provided by third party service provider(s) which are not guaranteed renewable. FWD shall not be responsible for any act, negligence or omission of medical advice, opinion, service or treatment on the part of them. FWD reserves the right to amend, suspend or terminate the service without further notice. For details of the services, please refer to the leaflet of FWD Professional Health Assistance Services.

21 Cashless Facility is an administrative arrangement to pay the covered expenditures when you are hospitalised, but not a benefit item under Policy provisions or guaranteed successful arrangement. Cashless Facility is only applicable if you require hospitalisation at the designated hospital, treatment and supportive therapies due to a covered cancer. FWD reserves the right to suspend, terminate or amend relevant terms and conditions for Cashless Facility in its sole discretion without further notice. FWD would pay the medical cost to the relevant hospital on behalf of you after successful arrangement of Cashless Facility. If the medical cost paid by FWD is higher than the maximum claimable amount, FWD will seek reimbursement from the Policy Holder for such amount.

22 This offer is only applicable when the Family Booster for Child Option (Optional Benefit) is added at the same time of purchasing the vFamily Medical Plan. This offer is subject to terms and conditions. For details and other related offers, please contact your financial advisor or call our service hotline at 3123 3123.

23 10Life calculates the expected average coverage rate and provides ratings based on publicly available information from insurance companies. For details, please refer to the 10Life website. The information provided is a statement made by FWD based on its understanding of the information on the 10Life website, and FWD does not assume any responsibility for errors or omissions. The data is as of January 15, 2024.

24 Products that received a five-star rating include vBooster Medical Plan, vPrime Signature Medical Plan, and vTheOne Medical Plan (Premium and Standard Plus), Crisis OneMaster Series and Crisis USupporter / Crisis USupporter Pro. vBooster Medical Plan (Certification Number: F00069), vPrime Medical Plan (Certification Number: F00045), vPrime Signature Medical Plan (Certification Number: F00070), vTheOne Medical Plan (Premium and Standard Plus) (Certification Number: F00067), are Voluntary Health Insurance Scheme Flexi plans underwritten by FWD Life Insurance Company (Bermuda) Limited (incorporated in Bermuda with limited liability) (VHIS provider registration number: 00036). The above information is intended to be distributed in the Hong Kong Special Administrative Region only and shall not be construed as an offer to sell, a solicitation to buy or the provision of any insurance products of FWD outside the Hong Kong Special Administrative Region.

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