Supercharged Medical Savings/media/Files/FWDHK/pdf/protect/health-accident/... · 20% of Sum Insured Not applicable Per Covered Crisis Limit6 (maximum total amount paid and/or payable

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MediSaver Supreme Medical • Participating Life

SuperchargedMedical Savings

Supercharge Your Health

FWD Life Insurance Company (Bermuda) Limited (Incorporated in Bermuda with limited liability)

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MediSaver Supreme

You must stay healthy to embrace the wonders of life. However, no matter how healthy your body is, it will age over the years. Unlike common medical reimbursement plans which may require you to pay lifelong premium, MediSaver Supreme (“the Plan”) is designed to offer medical protection up to age 100 with fixed premium payment term. What’s more, the premiums will not be increased based on age of Insured after the issue of policy1.

Key Features of MediSaver Supreme

Fixed premium payment term with medical protection up to age 100

(age next birthday)

Savings and medicalprotection in one plan

Flexible medicalprotection options

Extra coverage uponinsured passes away for

the first 15 years

No sub-limit for hospitalisation benefits and surgical benefits

Double medical protectionagainst 3 common crises

Professional medical assistanceservices to support your recovery

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Savings and medical protection in one plan

With a fixed premium payment term, the Plan helps you build a medical reserve to settle the unexpected hospitalisation, surgical and/or treatment expenses for treatment of a Disability under Medical Savings Account2 up to age 100 (age next birthday).3

Apart from comprehensive medical coverage, the Plan also contains saving components which include Guaranteed Cash Value and Terminal Bonus (if any)4 from the 3rd Policy Anniversary. Guaranteed Cash Value will be paid upon surrender or maturity, whereas Terminal Bonus (if any)4 will be paid upon the death of the Insured, surrender or maturity or when the total amount paid for Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account2 reaches 100% of the Sum Insured. While Terminal Bonus (if any)4 will not be affected by any medical claims2 under the Plan, you can enjoy medical protection as well as potential growth in wealth.

No sub-limit for Hospitalisation Benefits and Surgical Benefits

The Plan equals simplicity by covering 85% (or 100% for Covered Crisis) of Eligible Expenses5 for Hospitalisation Benefits and Surgical Benefits up to Per Disability Limit6 / Per Covered Crisis Limit6 and other maximum limit of the policy. You can then concentrate on receiving treatments and recovery.

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As you enter into different life stages, your protection needs may change. The Plan provides the flexibility for you to apply for a new medical savings plan when the Insured’s age turns 30, 40, 50 or 55 (age next birthday) irrespective of the Insured’s health condition at the time without evidence of insurability.9

Flexible options for comprehensive protection

If you select Instant Medical Cover7, you can start your medical protection right away. You can also enjoy the flexibility to choose Deferred Medical Cover7 to enjoy all-round hospitalisation, surgical and other benefits at a later Protection Start Date.

Even if an Illness8 happens to be a pre-existing condition that was unknown at the time of application, it will still be covered by the Plan. Hence, there is no need for you to worry about having claims rejected due to unknown pre-existing conditions.

InstantMedicalCover

DeferredMedicalCover

All benefits available

Death Benefit, Additional Death Benefit, Wellness Joy Benefit, Surrender Benefit and Maturity Benefit available

PolicyDate

Up to age 100

(age next birthday)

Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account and Additional Crisis Cover, and Top-up Subsidy Benefit available

The 30th Policy Anniversary or Policy Anniversary which comes on or immediately after the Insured turns 65 (age next birthday), whichever is earlier

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Double medical protection2 against 3 common crises

Additional Crisis Cover2

If you are diagnosed with a Covered Crisis (Cancer, Heart Attack or Stroke), the Plan will offer you an Additional Crisis Cover2 which is equal to the Sum Insured to fully cover your Eligible Expenses5 for Hospitalisation Benefits, Surgical Benefits and Other Benefits up to the Per Covered Crisis Limit6 (equals to double of the Per Disability Limit6) and maximum coverage2 for Covered Crisis so to ease your financial stress. As crisis recurrence is not unusual, the Plan allows you to first deduct your claims for a Covered Crisis from your Additional Crisis Cover. Once the maximum benefit limit of your Additional Crisis Cover is reached, the claim for Covered Crisis will be deducted from your Medical Savings Account.2 Moreover, your other coverage and savings will not be affected by any claims under Additional Crisis Cover.2

Maximum coverage for Covered CrisisMaximum coverage for

Disability (non-Covered Crisis)Medical Savings Account (Maximum benefit limit: Sum Insured)

Additional Crisis Cover (Maximum benefit limit: equal to Sum Insured)

Sheer shield upon Insured passes away for the first 15 years10

FWD understands that any unfortunate events during your golden years may bring to your family some heavy financial burdens. Therefore, the Plan provides an additional coverage up to 90% of the Sum Insured in the first 15 Policy Years in the unfortunate event of death of the Insured.

Professional medical assistance services to support your recovery

With MediSaver Supreme, you can rest assured that your wellbeing is in good hands. Whenever you need information or assistance, the professional medical assistance services are always here to help:

•　A top-notch CANcierge11 service provides end-to-end cancer treatment services with cashless facility

•　Second Medical Opinion12 Services from some of the highest ranked U.S. medical institutions

•　International SOS 24-hour Worldwide Assistance Services12

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MediSaver Supreme - General Information

Plan Type Basic Plan

Type of Plan

• Instant Medical Cover: All benefits stated in the Schedule of Benefit below will start from the Policy Date.

• Deferred Medical Cover: Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account and Additional Crisis Cover, and Top-up Subsidy Benefit will start from the 30th Policy Anniversary or Policy Anniversary which comes on or immediately after the Insured turns 65 (age next birthday), whichever is earlier. While the policy is in place, the Plan provides coverage for the Death Benefit, Additional Death Benefit, Wellness Joy Benefit, Surrender Benefit and Maturity Benefit as stated in the Schedule of Benefit below.

Benefit Term (Age Next Birthday) Up to Policy Anniversary that falls immediately after the Insured’s 100th birthday

Issue Age(Age Next Birthday)

Instant Medical Cover 18 - 55

Deferred Medical Cover 18 - 45

Premium Payment Term 20 years

Premium StructureThe premium is non-guaranteed1 but it will not be increased based on

the age of the Insured on his or her next birthday.

Policy Currency HKD / USD

Premium Payment Mode Monthly / Semi-annually / Annually

Minimum Sum Insured HK$300,000 / US$37,500 (per policy)

Maximum Sum Insured HK$4,000,000 / US$500,000 (per life)

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MediSaver Supreme - Schedule of Benefit

Medical Savings Account Additional Crisis Cover

Maximum Benefit Limit under the Plan2 Sum Insured Equal to Sum Insured

Per Disability Limit6

(maximum total amount paid and/or payable under items 1 to 3 per Disability for Medical Savings Account)

20% of Sum Insured Not applicable

Per Covered Crisis Limit6

(maximum total amount paid and/or payable under items 1 to 3 per Covered Crisis for Medical Savings Account and Additional Crisis Cover)

40% of Sum Insured 40% of Sum Insured

Area of Cover13 Worldwide ex USA

Room Level of Hospitalisation14 Standard Ward Room

Maximum Benefit Limit/Coverage

1. Hospitalisation Benefits

(a) Room and Board85% of Eligible Expenses5 for Disability

Full Cover for Covered CrisisFull Cover

(b) Intensive Care Unit (“ICU”) Charges85% of Eligible Expenses5 for Disability


(c) Physician’s Hospital Visit and Specialist’s Fee85% of Eligible Expenses5 for Disability


(d) Miscellaneous Hospital Medical Charges85% of Eligible Expenses5 for Disability


(e) Hospital Companion Bed (1 bed for 1 person who accompanies the Insured in Hospital)

85% of Eligible Expenses5 for Disability Full Cover for Covered Crisis

Full Cover

(f) Private Nursing Care’s Fee85% of Eligible Expenses5 for Disability


(g) Daily Hospital Cash for Hospitalisation in a General Ward of Hong Kong Public Hospitals

HK$800/ US$100

maximum 60 days per Disability or Covered Crisis

2. Surgical Benefits

Surgical Benefits (including Surgeon’s fee, Anaesthetist’s fee and operating theatre fee)


Full Cover

3. Other Benefits

(a) Pre-hospitalisation Out-patient (1 visit per day, maximum 3 visits within 31 days before Hospitalisation or Clinical Surgery per Disability or Covered Crisis)


Full Cover

(b) Post-hospitalisation Out-patient (1 visit per day, maximum 20 visits within 60 days after discharge or Clinical Surgery per Disability or Covered Crisis)


Full Cover

(c) Post-hospitalisation Home Nursing (maximum 31 days within 31 days after discharge following surgery or ICU admission per Disability or Covered Crisis)


Full Cover

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(d) Emergency Out-patient Accident Treatment Charges85% of Eligible Expenses5

for DisabilityNot applicable

(e) Emergency Dental Treatment 85% of Eligible Expenses5


(f) Non-surgical Cancer Treatment15 Full Cover for Cancer Full Cover

(g) Kidney Dialysis85% of Eligible Expenses5


(h) Prescribed Diagnostic Imaging Tests16 85% of Eligible Expenses5 for Disability

Full Cover for Covered Crisisup to HK$20,000/US$2,500 per Disability or Covered Crisis

(i) Rehabilitation Treatment (for Stay treatment in Rehabilitation Centre)

HK$10,000/US$1,250

(j) Chinese Medicine Practitioner Consultation (per visit) (1 visit per day, maximum 10 visits within 60 days after discharge or Clinical Surgery per Disability or Covered Crisis)

HK$400/US$50

(k) Physiotherapist or Chiropractic Consultation (per visit) (1 visit per day, maximum 10 visits within 60 days after discharge or Clinical Surgery per Disability or Covered Crisis)

HK$400/US$50

(l) Psychiatric Treatment (maximum 30 days per Disability) HK$30,000/US$3,750

4. Death Benefit

The higher of 100% of Sum Insured or 105% of total premiums paid, + Terminal Bonus (if any)4- any claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account

5. Additional Death Benefit10

Additional 90% of the Sum Insured (for the Insured whose issue age is 35 or below at next birthday) or 60% of the Sum Insured (for the Insured whose issue age is above 35 at next birthday) will be payable if the Insured passes away before the 15th Policy Anniversary

6. Surrender Benefit/ Maturity Benefit

The higher of (i) Guaranteed Cash Value - any claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account; or (ii) zero + Terminal Bonus (if any)4


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7. Top-up Subsidy Benefit17 (per day) Payable if a claim is successfully reimbursed by other insurance companies before remaining amounts are claimed and maximum 60 days per Disability or Covered Crisis

HK$300/US$37.5

8. Wellness Joy Benefit 18

• Reimburse 0.2% of Sum Insured (up to a maximum of HK$6,000/ US$750 per life under all policies of the Plan) if the policy has been in place for 5 consecutive years

• Including expenses of travelling, fitness and wellness course or health check-up

• The benefit will be payable once only

9. Option to Apply for New Medical Savings Plan at Specified Age

Option to apply for a medical savings plan upon the Policy Anniversary which immediately comes on or after the respective ages of 30/40/50/55 (age next birthday) of the Insured without evidence of insurability9

10. Ancillary Services

(i) CANcierge11 Service Program

(ii) Second Medical Opinion Service 12 Service Program

(iii) International SOS 24-hour Worldwide Assistance Program 12 Service Program

For policies in US Dollars, the exchange rate for the amount above is fixed at 1:8 (USD:HKD) and rounded to the nearest 1 decimal place.

Please refer to the policy provisions for details of benefits, exclusions, and definitions of Disability and Covered Crisis.


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1.　 Premium rates are not guaranteed and FWD Life Insurance Company (Bermuda) Limited (“FWD”) reserves the right to review the premium rates from time to time.

2.　 The maximum benefit limit under Medical Savings Account is the Sum Insured of the Basic Plan after the Protection Start Date. If Hospitalisation Benefits, Surgical Benefits and Other Benefits have been paid and/or payable under the Medical Savings Account, the actual benefit amount for Death Benefit, Surrender Benefit and Maturity Benefit will be reduced but the Additional Death Benefit, Top-up Subsidy Benefit, Wellness Joy Benefit, Sum Insured, Guaranteed Cash Value, Terminal Bonus (if any) and future premium will not be affected by any claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account. The policy will be terminated when the total amount of claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account reaches 100% of Sum Insured. The maximum benefit limit under Additional Crisis Cover is equal to Sum Insured of the Basic Plan after Protection Start Date. Any claims paid and/or payable for Covered Crisis (Cancer, Heart Attack or Stroke) will be first deducted from Additional Crisis Cover. If the maximum benefit limit of Additional Crisis Cover is reached, FWD will pay the benefits for Covered Crisis from Medical Savings Account. This is an additional benefit and the Death Benefit, Additional Death Benefit, Top-up Subsidy Benefit, Wellness Joy Benefit, Maturity Benefit, Surrender Benefit, Sum Insured, Guaranteed Cash Value, Terminal Bonus (if any) and future premiums are not affected by any claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under Additional Crisis Cover.

　　 The maximum benefit limit for all Disabilities is up to HK$10,000 (or US$1,250 for USD policies) Eligible Expenses per Disability if the Hospitalisation or treatment or incurred charges for a Disability that is directly or indirectly related to, arises from or is caused by attempted suicide, self-inflicted injuries, or under any condition caused by chronic alcoholism or drug addiction.

3.　 If you select Instant Medical Cover, FWD won’t pay the Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account or Additional Crisis Cover, and Top-up Subsidy Benefit if the Insured suffers an Illness or a Covered Crisis before or within 30 days from the Policy Date, Policy Restart Date, or protection enhancement date (for the increased Sum Insured amount). However, FWD will pay for Injury that happens on or after the Policy Date, Policy Restart Date, or protection enhancement date (for the increased Sum Insured amount). If you select Deferred Medical Cover, FWD won’t pay the Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account or Additional Crisis Cover, and Top-up Subsidy Benefit on or after the Protection Start Date if the Insured suffers an Illness or a Covered Crisis before the Policy Date, Policy Restart Date, or protection enhancement date (for the increased Sum Insured amount). FWD will pay for Injury that happens on or after Protection Start Date.

4.　 When the policy has been in effect for 3 years or more, a Terminal Bonus, which is not guaranteed, may be payable under the policy upon the payment of Death Benefit under the policy, surrender, maturity, when the total amount of claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account reaches 100% of Sum Insured or at the end of the one year restart period if the policy lapses and is not restarted within that period. A proportionate Terminal Bonus, if any, may be also paid upon payment of partial surrender, and Terminal Bonus (if any) will then be reduced proportionally.

5.　 Reasonable and customary charges for Medically Necessary treatment or services for a Disability. Reasonable and customary refers to a fee or expense which:

　　 i.　 is actually charged for Medically Necessary treatment, supplies or medical services;

　　ii. does not exceed the usual or reasonable average level of charges for similar treatment, supplies or medical services in the location where the expense is incurred;

　　iii. does not include charges that would not have been made if no insurance existed.

　　 FWD may adjust benefit(s) payable under the policy for fees or expenses that FWD judges not to be reasonable and customary after comparing with fee schedules used by the government, relevant authorities or recognised medical associations in the location where the fee or expense is incurred.

6.　 Per Disability Limit refers to the maximum total amount that FWD will pay for the Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account per Disability. Per Covered Crisis Limit refers to the maximum total amount that FWD will pay for the Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account and Additional Crisis Cover per Covered Crisis. For the definition of Disability or Covered Crisis, please refer to policy provisions for details.

7.　 If you select Instant Medical Cover, all benefits in the Schedule of Benefit will start from the Policy Date.

　 If you select Deferred Medical Cover, the Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account and Additional Crisis Cover, and Top-up Subsidy Benefit will start from the 30th Policy Anniversary or Policy Anniversary which comes on or immediately after the Insured turns 65 (age next birthday), whichever is earlier. While the policy is in place, the Plan provides coverage for the Death Benefit, Additional Death Benefit, Wellness Joy Benefit, (partial) Surrender Benefit and Maturity Benefit.

Remarks

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8.　 Illness is a physical condition marked by a pathological deviation from the normal healthy state, which manifests when it has been investigated, diagnosed or treated or when signs or symptoms arise which would cause an ordinary and prudent person to seek diagnosis, care or treatment. For an Illness to be covered under this policy, if you select Instant Medical Cover, the first symptoms must appear, the condition must occur and the diagnosis or surgery relating to that Illness must happen 30 days after the Policy Date, Policy Restart Date, or protection enhancement date (for the increased Sum Insured amount). If you select Deferred Medical Cover, the first symptoms must appear, the condition must occur and the diagnosis or surgery relating to that Illness must happen on or after the Policy Date, Policy Restart Date, or protection enhancement date (for the increased Sum Insured amount).

9.　 The Policy Owner has the right to apply for a new medical savings plan within 31 days immediately before or after relevant Policy Anniversary which immediately comes on or after the respective ages of 30/40/50/55 (age next birthday) of the Insured without providing further evidence of insurability on the Insured (the maximum total sum insured of all such new policies per life is HK$500,000/US$62,500), provided that the original policy has been in effect for at least 3 consecutive Policy Years after the Policy Date, no benefits (except Wellness Joy Benefit) have been paid or become payable under the original policy, and no loading premium and/or additional individual exclusions when the original policy is issued. Your right under this option is subject to the medical savings plan available at the time of application and such terms and conditions as determined by FWD from time to time and at FWD sole discretion, including but not limited to FWD current rules and procedures at the time you apply (including minimum/maximum issue age and minimum sum insured) and any maximum aggregate sum insured limit per insured prescribed by FWD. This right once exercised is irrevocable.

10.　 The amount payable is equivalent to 90% of the Sum Insured (for the Insured whose issue age is 35 or below at next birthday) or 60% of the Sum Insured (for the Insured whose issue age is above 35 at next birthday) as at the date when the Death Benefit is payable under the policy. This benefit will be ceased (i) upon the termination of the policy; (ii) once the Death Benefit has been paid or becomes payable; or (iii) on the 15th Policy Anniversary, whichever is the earliest. The payment of Additional Death Benefit will not be deducted by any claims paid and/or payable for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account.

11.　 CANcierge is currently provided by HealthMutual Group Limited (“HMG”) and its healthcare network team, and is not a part of the policy or benefit item under the policy provisions. FWD reserves the right to change the service provider, terminate or vary CANcierge in its sole discretion without further notice. FWD will not be responsible for any act, negligence or failure to act on the part of HMG and its healthcare network team. For details, please refer to the attached brochure of CANcierge.

12.　 The services are currently provided by International SOS and are not guaranteed renewable. All relevant fees and charges (if any) of these services must be paid by you. FWD shall not be responsible for any act or failure to act on the part of International SOS and the professionals. Details of the services or service provider may be revised from time to time without prior notice from FWD.

13.　 The Plan provides the coverage anywhere in the world excluding the United States of America.

14.　 Standard Ward Room refers to a room type in a Hospital that is of a quality below a Standard Semi-private Room. Standard Semi-private Room refers to a single or double occupancy room in a Hospital, with a shared bath or shower room. If the Insured is Hospitalised in a room of a higher level than a Standard Ward Room, the amount which FWD pays for Eligible Expenses5 will be different. Please refer to policy provisions for details.

15.　 Non-surgical Cancer Treatment includes chemotherapy, radiotherapy, immunotherapy, targeted therapy, cancer hormonal therapy and proton therapy.

16.　 Tests covered here only include computed tomography (“CT” scan), magnetic resonance imaging ("MRI" scan), positron emission tomography (“PET” scan), PET-CT combined and PET-MRI combined. FWD will have the right to ask for proof of recommendation e.g. written referral or testifying statement on the claim form by the Physician.

17.　 This is an additional benefit and the Death Benefit, Additional Death Benefit, Wellness Joy Benefit, Maturity Benefit, Surrender Benefit, Sum Insured, Guaranteed Cash Value, Terminal Bonus (if any) and future premiums are not affected by any Top-up Subsidy Benefit payments.

18.　 If the policy has been in effect for 5 consecutive years from the Policy Date or last Policy Restart Date, whichever is later, FWD will reimburse the expenses of travelling, fitness and wellness course or health check-up for the following Policy Year. This benefit will be payable once only and up to a maximum of HK$6,000/US$750 per life under all policies of the Plan. This is an additional benefit and the Death Benefit, Additional Death Benefit, Top-up Subsidy Benefit, Maturity Benefit, Surrender Benefit, Sum Insured, Guaranteed Cash Value, Terminal Bonus (if any) and future premiums are not affected by any Wellness Joy Benefit payments.

Remarks

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•　 The Plan is underwritten by FWD. FWD is solely responsible for all features, policy approval, coverage and benefit payment under the Plan. FWD recommends that you carefully consider whether the Plan is suitable for you in view of your financial needs and that you fully understand the risk involved in the Plan before submitting your application. You should not apply for or purchase the Plan unless you fully understand it and you agree it is suitable for you. Please read through the following related risks before making any application of the Plan.

•　 The Plan material is issued by FWD. FWD accepts full responsibility for the accuracy of the information contained in this product material. This product material is intended to be distributed in the Hong Kong Special Administrative Region (“Hong Kong”) 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 Hong Kong. All selling and application procedures of the Plan must be conducted and completed in Hong Kong.

•　 The Plan is an insurance product. The premium paid is not a bank savings deposit or time deposit. The Plan is not protected under the Deposit Protection Scheme in Hong Kong.

•　 The Plan is a participating life product with a savings element. The costs of insurance and the related costs of the policy are included in the premium paid under the Plan despite the product brochure/leaflet and/or the illustration documents of the Plan having no schedule/section of fees and charges or no additional charge noted other than the premium.

•　 The Plan is a savings insurance product. If you surrender your policy before its maturity date, the amount you get back may be less than the total premiums you have paid.

•　 All underwriting and claims decisions are made by FWD. FWD relies upon the information provided by the applicant and the insured in the insurance application to decide whether to accept or decline the application with a full refund of any premium and insurance levy paid without interest. FWD reserves the right to accept/reject any insurance application and can decline your insurance application without giving any reason.

•　 All the above benefits and payment are paid after deducting policy debts (if any, e.g. unpaid premiums or premium loan and the interest of the loan).

•　 Please refer to FWD’s website ( https://www.fwd.com.hk/en/regulatory-disclosures/fulfilment-ratios/ ) for dividend/bonus history. The dividend/bonus declaration philosophy, investment strategy and investment vehicle of FWD are shown below (Please refer to FWD’s website for latest information: https://www.fwd.com.hk/en/regulatory-disclosures/dividend-bonus-declaration-philosophy/ ):

Dividend / Bonus Declaration Philosophy

FWD Life Insurance Company (Bermuda) Limited (“FWD” or “We”) issues participating policies, which offer the policyholders (“You”) with dividend/bonus benefits that are not guaranteed. Dividend/bonus includes annual dividend1, terminal dividend, reversionary bonus and special bonus.

Through the dividend/bonus declaration, you participate in the financial performance of the participating products. The financial performance of participating products covers the experience and future outlook of a number of factors, including but not limited to:

1. Investment return;

2. Expenses;

3. Persistency;

4. Claims experience.

FWD reviews the dividend/bonus at least annually based on our dividend policy. The dividend/bonus could be adjusted if the financial performance is different from the expectation, and as a result the actual declared dividend/bonus may be different from the benefit illustrations.

The dividend/bonus recommendation is reviewed and approved by our Board of Directors (the “Board”), with written declaration by the Chairman of the Board, an Independent Non-Executive Director and the Appointed Actuary on due regard to our dividend policy as well as the principle of fair treatment of customers.

The current year and projected dividend/bonus would be communicated to you at least annually. Any changes in the current year and projected dividend/bonus will be reflected in the policy annual statement.

Smoothing

Financial performance is unforeseeable. To facilitate your financial planning, we have a smoothing process aiming to deliver a more stable dividend/bonus payouts during the policy term.

When the financial performance is better (worse) than expected, we may hold back a portion of the gains (losses), which will be passed back to you over the future years to ensure a more stable dividend/bonus payouts. Due to the variation of features and benefits of different products, different levels of smoothing may also be applied.

Pooling

Consistent with the nature of insurance contracts, we also group similar policies together to pool the risks amongst a larger number of policyholders to provide diversification benefits, which help to stabilize the financial performance (and hence the dividend/bonus payouts).

To maintain the fairness between policyholders, we may also separate different generations of policies of the same product into different buckets with different dividend/bonus scales, with an aim to more closely reflect the underlying financial performance. As a result, the frequency and magnitude of the dividend/bonus adjustments may vary among different products and buckets. In general, the adjustments on dividend/bonus are more frequent and significant for products with higher risk profile.

Important Notes and Declarations

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Investment Strategy

FWD’s investment strategies are customized for different products to optimize the return. In particular, these asset portfolios employ a balanced asset allocation investment strategy, which consists of

• Investment-grade fixed income type securities

• Equity-type investments to enhance the investment performance in the long run. This may include listed equity, hedge funds, mutual funds,

private equity and property

The current long-term target asset allocation of this Product is as follows:

The asset portfolios also target to provide diversification across different geographic regions and industries to the extent the size of portfolio can support.

Currency exposure of the underlying policies is mitigated by closely matching either through direct investments in the same currency denomination or the use of currency hedging instruments. Currently, the majority of the asset is invested in the United States and Asia Pacific and denominated in USD.

Furthermore, the asset portfolio is actively managed by investment professionals to closely monitor the investment performance. In addition to conducting regular review, FWD also reserves the right to change the investment strategy and shall notify policyholders for any material changes.

Investment Vehicle

The dividend/bonus rate will be influenced by the performance of the underlying investment portfolio, which consists of both fixed income type securities and equity-type investments. The performance is not static and will be highly affected by the change in market conditions:

Fixed income type securities

• The return of fixed income type securities arise from the interest income (“the yield”) attained at the purchase of the securities. Under a higher

(lower) market interest rates environment, the company is more likely to attain higher (lower) interest income with the new money (e.g.,

proceeds from coupons, maturities, new contributions);

• The defaults or downgrades of the fixed income type securities will result in unfavorable investment performance.

Equity-type investments

• The movement of the market price of the equity-type investments will result in change in the market value of the portfolio. Rise (fall) in the

market price will increase (decrease) the market value of the portfolio.

• The change in dividend-type income from the equity-type investments will impact the investment results. Higher (lower) dividend-type

income from the underlying investment will improve (worsen) the investment results.

¹Include interest on accumulated dividends

•　 If you are not satisfied with the policy, you have the right to cancel it within the Cooling-off Period and obtain a refund of any premium and insurance levy paid provided that you have not made any claims under the policy. A written notice signed by you should be received by the office of FWD at 1/F., FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong within the Cooling-Off Period (that is, 21 days after either the delivery of the policy or the issue of a Notice informing you or your representative that the policy is available for collection and Expiry Date of the Cooling-off Period, whichever is earlier).

•　 While the policy is in force, the policy owner may surrender or terminate the policy by sending a written request to FWD.

•　 The policy provisions of the Plan are governed by the laws of Hong Kong.

•　 This product material is for reference only and is indicative of the key features of the Plan. For the exact terms and conditions and the full list of exclusions of the Plan, please refer to the policy provisions of the Plan. In the event of any ambiguity or inconsistency between the terms of this leaflet and the policy provisions, the policy provisions in English shall prevail. If you want to read the terms and conditions of the policy provisions before making an application, you can obtain a copy from FWD. In the event of discrepancies between the English and Chinese versions of this product material, the English version shall prevail.

Asset Type Target asset allocation (%)

Equity-type investmentsFixed income type securities 75% - 95% of Target

5% - 25% of Target

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FWD must comply with the following requirements of the Inland Revenue Ordinance to facilitate the Inland Revenue Department automatically exchanging certain financial account information:

i.　to identify accounts as non-excluded “financial accounts” (“NEFAs”);

ii.　to identify the jurisdiction(s) in which NEFA-holding individuals and NEFA-holding entities reside for tax purposes;

iii.　 to determine the status of NEFA-holding entities as “passive NFEs” and identify the jurisdiction(s) in which their controlling persons reside for tax purposes;

iv.　to collect information on NEFAs (“Required Information”); and

v.　to furnish Required Information to the Inland Revenue Department.

You must comply with requests made by FWD to comply with the above listed requirements.


What are the key product risks?

Credit riskThe Plan is an insurance policy issued by FWD. The application of this insurance product and all benefits payable under your policy are subject to the credit risk of FWD. You will bear the default risk in the event that FWD is unable to satisfy its financial obligations under this insurance contract.

Liquidity riskThe Plan is a long term insurance policy. This policy of long term insurance will be made for certain determined term of years starting from the policy effective date to the policy maturity date. The policy contains value and, if you surrender your policy in the early policy years or before its maturity date, the amount you get back may be considerably less than the total premium you have paid. Application of the Plan may constitute the liquidity risk to your financial condition. You need to bear the liquidity risk associated with the Plan.

Exchange rate and currency riskThe application of this insurance product with the policy currency denominated in a foreign currency is subject to that foreign currency’s exchange rate and currency risk. The foreign currency may be subject to the relevant regulatory bodies’ control (for example, exchange restrictions). If your home currency is different from the policy currency, please note that any exchange rate fluctuation between your home currency and the policy currency of this insurance product will have a direct impact on the amount of premium required and the value of benefit(s) to be received. For instance, if the policy currency of the insurance product depreciates substantially against your home currency, there is a negative impact on the benefits you receive from the product. If the policy currency of the insurance product appreciates substantially against your home currency, your burden of the premium payment is increased.

Inflation riskThe cost of living in the future may be higher than now due to the effects of inflation. Therefore, the benefits under the Plan may not be sufficient for the increasing protection needs in the future even if FWD fulfils all of its contractual obligations.

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Early surrender riskIf you surrender your policy in the early policy years or before its maturity date, the amount of the benefit you will get back may be considerably less than the total amount of the premiums you paid.

Non-guaranteed benefitsNon-guaranteed benefits (including but not limited to Terminal Bonus) are not guaranteed and are determined at FWD’s discretion based on its dividend/bonus declaration philosophy. The non-guaranteed benefits are adjusted if the experience over the long-term is different from expectation, including but not limited to investment performance and claims experience.

Exclusions This policy shall not cover any loss/claim directly or indirectly caused by or resulting from the below exclusions listed that apply for following benefits:

Death Benefit and Additional Death Benefit

•　 FWD will not pay any Death Benefit and Additional Death Benefit if the death arises from suicide or a self-inflicted act by the Insured within 13 months from Policy Date, Policy Restart Date, or protection enhancement date (for the increased Sum Insured amount). This applies regardless of the Insured’s mental state. Instead, FWD will pay an amount equal to any premium FWD received without interest, after taking off any benefits FWD has paid and amounts owed to FWD (including any outstanding insurance levy).

Hospitalisation Benefits, Surgical Benefits and Other Benefits under Medical Savings Account or Additional Crisis Cover, and Top-up Subsidy Benefit

•　 A claim arises because you, the Insured, or the beneficiary participated in an unlawful act.

•　 Illness relates to AIDS or any complications associated with a HIV infection, unless the first symptoms appear of a relevant Illness due to AIDS or any complications associated with HIV infection occur 2 years or more after the policy date. HIV Infection refers to an infection where blood or other relevant test(s) indicate, in our opinion, either the presence of any HIV, antigens or antibodies to such virus.

•　 Any condition of Disability arises out of war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, riot, strike, civil commotion assuming the proportions of or amounting to an uprising, military or usurped power, terrorist act, naval, military or air-force services, any operation or combat duty with any armed force of any country, territory, or organisation, nuclear reactions, nuclear radiation, nuclear contamination, biological contamination or chemical contamination.

•　 Any condition of Disability arises out of the Insured’s pregnancy, surrogacy, childbirth or termination of pregnancy, birth control, infertility or human assisted reproduction, or sterilisation of either sexes.

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Premium adjustmentThe premium is non-guaranteed and may significantly increase due to factors including but not limited to claims experience and policy persistency. However, the premium will not be increased based on the age of the Insured on his or her next birthday.

Premium term and non-payment of premiumThe premium payment term of the policy of the Plan is 20 years. FWD allows a grace period of 30 days after the premium due date for payment of each premium. If a premium is still unpaid at the expiration of the grace period and the policy has no cash value or insufficient fund, the policy will be terminated from the date the first unpaid premium was due. If the policy ends because regular premium wasn’t paid, you still owe FWD the unpaid premium and insurance levy. If the policy has any loanable cash value, FWD shall automatically advance the amount of premium and insurance levy due as a loan against such loanable cash value of the policy. Once the total amount of outstanding loan and interest accrued thereon is equal to or exceeds the loanable cash value of the policy, the policy will be terminated. Please note that once the policy is terminated on this basis, you will lose all of your benefits.

Termination conditionsThe policy of the Plan shall terminate on the earliest of the following:

1.　 From the premium due date, if you have not paid your premiums after the 30-day premium grace period (unless the automatic premium loan applies).

2.　 On the date that any outstanding policy loan amounts (including interest and automatic premium loans) are equal to or greater than the amount of Guaranteed Cash Value less any amount FWD pays for Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account of the policy.

3.　 On the date you surrender your policy.

4.　 On the date of the Insured’s death.

5.　 On the date that total amount of claims paid and/or payable for the Hospitalisation Benefits, Surgical Benefits and Other Benefits under the Medical Savings Account reaches 100% of Sum Insured.

6.　 On the policy expiry date shown in your policy schedule.


PMH111AE1912

Supercharged Medical Savings/media/Files/FWDHK/pdf/protect/health-accident/... · 20% of Sum Insured Not applicable Per Covered Crisis Limit6 (maximum total amount paid and/or payable

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