YF Life’s certified plans under the Voluntary Health Insurance Scheme:
- TaxVantange Medical Plan (Standard Plan)
- Guaranteed renewals for life
- No lifetime benefit limit
- Freedom to choose
- Extensive coverage
- Coverage of unknown pre-existing conditions
- Tax deductible
- Free quote before you commit
- TaxVantange Plus Medical Plan (Flexi Plan)
- Guaranteed renewals for life
- No lifetime benefit limit
- Freedom to choose
- Extensive coverage
- Coverage of unknown pre-existing conditions
- No claim premium discount
- Tax deductible
- Free quote before you commit
- Optional supplementary benefits
View Product Brochure- All benefits are applicable worldwide(except for psychiatric treatment1 and renal dialysis2)
- Free choice of healthcare services providers3
- Free choice of ward class
- hospitalization and surgery fees
- day case procedure4
- outpatient care for pre- and post- Confinement / Day case procedure
- prescribed diagnostic imaging tests5, including CT, MRI, PET, PET-CT and PET-MRI
- non-surgical cancer treatments, including radiotherapy, chemotherapy, targeted therapy, immunotherapy and hormonal therapy
- psychiatric treatment1
- lump sum benefit against medical negligence6
- hospital companion bed7
- home nursing
- additional benefit for accident
- renal dialysis2
- optional extra major medical benefit
- A ‘no claim premium discount’ will be offered upon paying the renewal premium, provided that the policy has been in force and no claims have been made for at least three consecutive Policy Years
- The discount is a percentage, of up to 15%, of the annual premium for the previous Policy Year
| Consecutive years of policy in force and without claims | No claim premium discount rate |
|---|---|
| 3 | 5% |
| 4 | 10% |
| ≥ 5 | 15% |
Extra Cancer Benefit
- provides adequate financial support for cancer therapy, with a maximum reimbursement of actual expenses per cancer up to HK$2,000,00010
- provides cash benefit11 to offset any temporary income loss if the Insured Person is Confined for eight hours or more due to Disability
- while receiving treatment in an Intensive Care Unit, this Benefit will be doubled, up to HK$2,400 per day
- Only covers the psychiatric treatment recommended by a Specialist during Confinement in Hong Kong.
- Only covers renal dialysis treatments under the recommendation of the attending Registered Medical Practitioner, and (1) as an Inpatient worldwide or (2) as a Day Patient in Hong Kong.
- Refers to a registered Hospital medical practitioner of western medicine under the relevant territory.
- Day Case Procedure refers to a Medically Necessary surgical procedure for investigation or treatment performed in a medical clinic, or day case procedure centre or Hospital with facilities for recovery.
- Subject to 30% Coinsurance, Policy Holder is required to pay 30% of the actual medical expenses as evidenced.
- If the Insured Person dies or suffers from Total and Permanent Disability directly as a consequence of any negligent action or failure to observe reasonable and customary standards by a healthcare professional of the relevant Hospital, the medical negligence benefit as stated in the Benefit Schedule shall be payable. The benefit shall be made once only for each incident.
- Subject to one extra bed.
- The Policy Holder shall provide the Company with the estimated fees to be incurred as furnished by the Hospital and/or attending Registered Medical Practitioner. The estimate is for reference only, and the actual amount claimable shall be subject to the final expenses as evidenced.
- These benefits are not part of the VHIS Certified Plan.
- The followings are not included: (1) treatment undergone solely for complications and adverse effects of cancer treatment; (2) cost of surgical procedures except specifically covered; (3) room and board charges.
- The maximum combined daily benefit from both Hospital Income Benefit and Money-Back Hospital Income Protector for the same Insured Person with our company is HK$1,200. And the maximum combined daily benefit from Hospital Income Benefit, Money-Back Hospital Income Protector, Lifetime Health Protector, Whole Life MediCare and Refundable Hospital Cash Plan for the same Insured Person with our company is HK$2,000. The Company reserves the right to make adjustments of the maximum combined daily benefit without any prior notice.
| Benefit limit (HK$) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Plan X | Plan XM | Plan 1 | Plan 1M | Plan 2 | Plan 2M | Plan 3 | Plan 3M | Plan 4 | Plan 4M | |
| VHIS Plan Certification Number | F00020-05-000-01 | F00020-05-001-01 | F00020-01-000-03 | F00020-01-001-03 | F00020-02-000-03 | F00020-02-001-03 | F00020-03-000-03 | F00020-03-001-03 | F00020-04-000-03 | F00020-04-001-03 |
| Benefit items12 | ||||||||||
| (I) Basic benefits | ||||||||||
| (a) Room and board | $900 per day | $1,000 per day | $1,800 per day | $3,000 per day | $5,050 per day | |||||
| (Maximum 180 days per Policy Year) | ||||||||||
| (b) Miscellaneous charges |
$14,500 per Policy Year |
$15,000 per Policy Year |
$18,000 per Policy Year |
$23,000 per Policy Year |
$35,000 per Policy Year |
|||||
| (c) Attending doctor's visit fee | $900 per day | $1,000 per day | $1,800 per day | $3,000 per day | $5,050 per day | |||||
| (Maximum 180 days per Policy Year) | ||||||||||
| (d) Specialist's fee13 |
$6,000 per Policy Year |
$8,000 per Policy Year |
$8,700 per Policy Year |
$9,500 per Policy Year |
$13,800 per Policy Year |
|||||
| (e) Intensive care | $4,500 per day | $5,000 per day | $7,000 per day | $8,600 per day | $11,200 per day | |||||
| (Maximum 25 days per Policy Year) | ||||||||||
| (f) Surgeon's fee (Per surgery, subject to surgical category for the surgery/procedure in the Schedule of Surgical Procedures) | ||||||||||
|
$65,000 | $70,000 | $87,500 | $112,500 | $147,500 | |||||
|
$30,000 | $42,000 | $52,500 | $67,500 | $88,500 | |||||
|
$15,500 | $21,000 | $26,250 | $33,750 | $44,250 | |||||
|
$6,000 | $8,400 | $10,500 | $13,500 | $17,700 | |||||
| (g) Anaesthetist's fee | 40% of Surgeon's fee payable14 | |||||||||
| (h) Operating theatre charges | 40% of Surgeon's fee payable14 | |||||||||
| (i) Prescribed Diagnostic Imaging Tests 13, 15 |
$22,500 per Policy Year |
$25,000 per Policy Year |
$30,000 per Policy Year |
$35,000 per Policy Year |
$40,000 per Policy Year |
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| (Subject to 30% Coinsurance) | ||||||||||
| (j) Prescribed Non-surgical Cancer Treatments16 |
$80,000 per Policy Year |
$82,000 per Policy Year |
$96,000 per Policy Year |
$110,000 per Policy Year |
$124,000 per Policy Year |
|||||
| (k) Pre- and post-Confinement/Day Case Procedure outpatient care13 |
$580 per visit Up to $3,000 per Policy Year |
$600 per visit Up to $3,300 per Policy Year |
$900 per visit Up to $4,950 per Policy Year |
$1,400 per visit Up to $7,700 per Policy Year |
$2,100 per visit Up to $11,550 per Policy Year |
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|
1 prior outpatient visit or Emergency consultation per Confinement/Day Case Procedure 3 follow-up outpatient visits per Confinement/Day Case Procedure (within 90 days after discharge from Hospital or completion of Day Case Procedure) |
||||||||||
| (l) Psychiatric treatments1 |
$30,000 per Policy Year |
$34,000 per Policy Year |
$45,000 per Policy Year |
$60,000 per Policy Year |
$80,000 per Policy Year |
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| (II) Other benefits | ||||||||||
| (a) Hospital companion bed7 | $300 per day | $400 per day | $500 per day | $630 per day | $800 per day | |||||
| (Maximum 180 days per Policy Year) | ||||||||||
| (b) Home nursing13 | $380 per day | $475 per day | $620 per day | $935 per day | $1,365 per day | |||||
| (Maximum 60 days per Policy Year) | ||||||||||
| (c) Renal dialysis13 |
$25,000 per 10-year period |
$30,300 per 10-year period |
$60,250 per 10-year period |
$90,400 per 10-year period |
$120,480 per 10-year period |
|||||
| (d) Additional benefit for Accident |
$8,500 per Policy Year |
$12,000 per Policy Year |
$18,000 per Policy Year |
$22,000 per Policy Year |
$34,000 per Policy Year |
|||||
| (e) Death benefit | $5,000 | $5,000 | $10,000 | $15,000 | $20,000 | |||||
| (f) Medical negligence benefit | $150,000 | $175,000 | $200,000 | $250,000 | $300,000 | |||||
| (g) Optional extra major medical benefit17 | - | $100,000 per Policy Year (Subject to 20% Coinsurance) |
- | $120,000 per Policy Year (Subject to 20% Coinsurance) |
- | $200,000 per Policy Year (Subject to 20% Coinsurance) |
- | $400,000 per Policy Year (Subject to 20% Coinsurance) |
- | $600,000 per Policy Year (Subject to 20% Coinsurance) |
| Annual Benefit Limit for (I) basic benefit items (a) – (l) and (II) other benefits items (a) – (d) |
$550,000 per Policy Year |
$600,000 per Policy Year |
$850,000 per Policy Year |
$1,350,000 per Policy Year |
$2,000,000 per Policy Year |
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| Lifetime Benefit Limit for (I) basic benefit items (a) – (l) and (II) other benefits items (a) – (g) | Nil | |||||||||
| Others | ||||||||||
| No claim premium discount | 5-15% | |||||||||
| Estimate of the claimable amount8 | Free | |||||||||
| Benefit | Summary | (HK$) | ||
|---|---|---|---|---|
| Plan 1 | Plan 2 | Plan 3 | ||
| Overall Per Cancer Limit | $1,000,000 | $1,500,000 | $2,000,000 | |
| Maximum Lifetime Limit | $3,000,000 | $4,500,000 | $6,000,000 | |
| Medical Treatment Benefit10 | ||||
| Target Therapy | Medical treatment performed in a Hospital, the day case unit of a Hospital, Cancer Specialist, Cancer Clinic, or clinic in Hong Kong/Macau. Plus, the cost of drugs (including oral drugs taken at home). For Chemotherapy, blood transfusion and Granulocyte Colony Stimulating Factor are also covered. | No limit per course of medical treatment, full reimbursement of actual charges incurred | ||
| Radiotherapy | ||||
| Hormonal Therapy | ||||
| Immunotherapy | ||||
| Chemotherapy | ||||
| Laser Surgery for Skin Cancer | The fees for performing the procedure, including surgeon, anesthetist, operating theatre, prescribed medication, nursing, diagnostic radiology or laboratory charges, Doctor or specialist visit. | |||
| Photodynamic Therapy for Esophagus, Lung or Skin Cancers | ||||
| Cryosurgery | ||||
| Radiofrequency Ablation | ||||
| Anti-Rejection and Anti-Nausea Drugs | Anti-rejection and anti-nausea medication during the treatment of cancer. | |||
| Medical Consultation and Diagnostic Benefit | ||||
| Cancer Diagnostic Investigation | Laboratory tests, X-ray, CT, MRI, PET Scans, fine needle aspiration cytology (FNAC), histopathology or cytology biopsies, other investigation modalities deemed medically necessary, and genetic testing to aid the identification of appropriate chemotherapy drugs. | No limit per course of medical treatment, full reimbursement of actual charges incurred | ||
| Cancer Monitoring Investigation | Physical examinations and diagnostic tests to monitor the response and progress of the cancer treatment received, and follow-up evaluation to rule out any relapse of cancer for up to 5 years from the completion of cancer treatment. | |||
| Pre or Post-Treatment Consultation (Max. limit per visit & no. of visits) |
Cancer specialist consultation before and up to 5 years after the completion of cancer treatment. | $1,000 per visit | ||
| 20 visits | 30 visits | 40 visits | ||
| Extra Care Benefit | ||||
| Chinese Herbalist Consultation (Max. limit per visit & no. of visits) |
Chinese medical practitioner consultation during and up to 5 years after the completion of the cancer treatment. | $600 per visit | ||
| 20 visits | 30 visits | 40 visits | ||
| Palliative Care | Medical and surgical treatment to relieve the Insured Person’s discomfort or side-effects due to the treatment. | $20,000 | $30,000 | $40,000 |
| Reconstructive Surgery | Procedures to reshape or rebuild the face and/or breast, including surgeon, anesthetist, operating theatre, prescribed medication, diagnostic radiology or laboratory charges, nursing, Doctor or specialist visit, and cost of implants. | No limit per course of medical treatment, full reimbursement of actual charges incurred | ||
| Life Protection | ||||
| Extension of Life Protection (maximum aggregate Sum Insured for each Extra Cancer Benefit) |
$500,000 | $750,000 | $1,000,000 | |
| Death Benefit18 | $1,000 | $1,500 | $2,000 | |
| Benefit (HK$) | |||
| Plan 1 | Plan 2 | Plan 3 | |
| (a) Daily Benefit19 | $600 | $900 | $1,200 |
| (b) Intensive Care (per day) | $1,200 | $1,800 | $2,400 |
| (c) Death Benefit18 | $5,000 | $10,000 | $15,000 |
| (d) 24-Hour Worldwide Coverage | Applicable | ||
| Basic Information | |||
| TaxVantage Plus Medical Plan | Extra Cancer Benefit | Hospital Income Benefit | |
| Issue Age (At last birthday) | Age 0-80 | Age 0 to 70 | Age 0 to 65 |
| Benefit Term | To Age 100 | To Age 100 | To Age 75 |
| Premium Payment Term | To Age 100 | To Age 100 | To Age 75 |
| Policy Information | |||
| Plan Type | Basic Plan | Supplementary Benefit | |
| Currency | HK$ | ||
| Premium20 |
|
|
|
| Tax Deduction | Eligible | Not eligible | |
| Minimum Sum Insured | Plan X | Plan 1 | $600 |
| Maximum Sum Insured | Plan 4M | Plan 3 | $1,20011 |
| Renewability | Guaranteed | Non-guaranteed21 | |
| Type of Benefit | Indemnity Product – Reimburses the actual hospitalization and medical expenses (subject to the maximum limit of each benefit item of the plan) | Indemnity Product – Reimburses the actual medical treatment expenses9, extra care, cancer consultation and diagnosis expenses | Non-indemnity Product – Provides daily cash benefits during the period of hospitalization |
- Only covers the psychiatric treatment recommended by a Specialist during Confinement in Hong Kong.
- Only covers renal dialysis treatments under the recommendation of the attending Registered Medical Practitioner, and (1) as an Inpatient worldwide or (2) as a Day Patient in Hong Kong.
- Refers to a registered Hospital medical practitioner of western medicine under the relevant territory.
- Day Case Procedure refers to a Medically Necessary surgical procedure for investigation or treatment performed in a medical clinic, or day case procedure centre or Hospital with facilities for recovery.
- Subject to 30% Coinsurance, Policy Holder is required to pay 30% of the actual medical expenses as evidenced.
- If the Insured Person dies or suffers from Total and Permanent Disability directly as a consequence of any negligent action or failure to observe reasonable and customary standards by a healthcare professional of the relevant Hospital, the medical negligence benefit as stated in the Benefit Schedule shall be payable. The benefit shall be made once only for each incident.
- Subject to one extra bed.
- The Policy Holder shall provide the Company with the estimated fees to be incurred as furnished by the Hospital and/or attending Registered Medical Practitioner. The estimate is for reference only, and the actual amount claimable shall be subject to the final expenses as evidenced.
- These benefits are not part of the VHIS Certified Plan.
- The followings are not included: (1) treatment undergone solely for complications and adverse effects of cancer treatment; (2) cost of surgical procedures except specifically covered; (3) room and board charges.
- The maximum combined daily benefit from both Hospital Income Benefit and Money-Back Hospital Income Protector for the same Insured Person with our company is HK$1,200. And the maximum combined daily benefit from Hospital Income Benefit, Money-Back Hospital Income Protector, Lifetime Health Protector, Whole Life MediCare and Refundable Hospital Cash Plan for the same Insured Person with our company is HK$2,000. The Company reserves the right to make adjustments of the maximum combined daily benefit without any prior notice.
- Eligible Expenses incurred in respect of the same item shall not be recoverable under more than one benefit item in the table unless otherwise specified.
- The Company 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.
- The percentage here applies to the Surgeon's fee actually payable or the benefit limit for the Surgeon's fee according to the surgical categorisation, whichever is the lower.
- 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.
- Treatments covered here only include radiotherapy, chemotherapy, targeted therapy, immunotherapy and hormonal therapy.
- Please refer to the Terms and Benefits for more details.
- Only applicable to the Insured age of 18 or above.
- A daily cash benefit will be paid if the Insured Person is Confined for eight hours or more due to Disability, up to a maximum of 1,000 days.
- A written notice will be given no less than 30 days prior to each policy anniversary date regarding the adjustment of benefit coverage or premium.
- A written notice will be given no less than 30 days prior to each policy anniversary date regarding the non-renewal of benefits.
The premium payment term and the benefit term are up to age 100 of the Insured Person (except for Hospital Income Benefit where the premium payment term and benefit term are up to age 75 of the Insured Person). If the premium is not paid before the end of the 31-day grace period from such premium due date, all coverage under the policy will be terminated immediately on the date on which the unpaid premium is first due.
TerminationThe policy shall be automatically terminated on the earliest of the followings:
- The Policy Holder decides to cancel this policy or not to renew this policy
- Non-payment of premiums after the grace period ends
- The day immediately following the death of the Insured Person
- The Company has ceased to have the requisite authorisation under the Insurance Ordinance to write or continue to write this policy
- The TaxVantage Plus Medical Plan to which the supplementary benefit is attached terminates
- The total benefit payment reaches the maximum lifetime limit
- At annual renewal, the Company gives the Policy Holder a 30-day written notice prior to the policy anniversary regarding non-renewal of the benefit
The policy will be renewed at each policy anniversary for another one year upon receipt of the payment of the required premium (based on the attained age of the Insured Person and at the premium rate in effect of the same level of benefit at the time of renewal). In order to keep pace with the medical advancement and to provide you with continuous protection, the Company reserves the right to revise the Terms and Benefits and adjust the premium on each renewal. The major factors to consider for premium adjustment include, but are not limited to, the claim experience of the Company, expenses, medical inflation, medical trend and/or revised benefit structure / level of benefits (if any) which might impact the expected claim costs in the future.
Inflation RiskMedical costs in the future are likely to be higher than they are today due to inflation. As a result, the premium rates and/or the benefit levels may be reviewed from time to time, and the Policy Holder might receive less in real terms even if the Company meets all of its contractual obligations.
Credit RiskThis plan is underwritten by YF Life Insurance International Ltd. The insurance benefits are held solely responsible by the Company and subject to its credit risk.
Medically NecessaryThis means the need to have medical service for the purpose of investigating or treating the relevant Disability in accordance with the generally accepted standards of medical practice and such medical service must:
- require the expertise of, or be referred by, a Registered Medical Practitioner;
- be consistent with the diagnosis and necessary for the investigation and treatment of the Disability;
- be rendered in accordance with standards of good and prudent medical practice, and not be rendered primarily for the convenience or the comfort of the Insured Person, his family, caretaker or the attending Registered Medical Practitioner;
- be rendered in the setting that is most appropriate in the circumstances and in accordance with the generally accepted standards of medical practice for the medical services; and
- be furnished at the most appropriate level which, in the prudent professional judgment of the attending Registered Medical Practitioner, can be safely and effectively provided to the Insured Person.
This means, in relation to a charge for Medical Service, such level which does not exceed the general range of charges being charged by the relevant service providers in the locality where the charge is incurred for similar treatment, services or supplies to individuals with similar conditions, e.g. of the same sex and similar Age, for a similar Disability, as reasonably determined by YF Life Insurance International Ltd. in utmost good faith. The Reasonable and Customary charges shall not in any event exceed the actual charges incurred.
In determining whether a charge is Reasonable and Customary, YF Life Insurance International Ltd. shall make reference to the followings (if applicable):
- treatment or service fee statistics and surveys in the insurance or medical industry;
- internal or industry claim statistics;
- gazette published by the Government; and / or
- other pertinent source of reference in the locality where the treatments, services or supplies are provided.
For TaxVantage Plus Medical Plan
The policy will not pay any benefits in relation to or arising from the followings:
- Congenital Conditions manifested or diagnosed before the age of 8 years of the Insured Person;
- Expenses incurred which are not Medically Necessary ;
- Confinement solely for the purpose of diagnostic procedures or allied health services;
- Beautification or cosmetic purposes (unless necessitated by injury caused by an accident); dental treatment and oral and maxillofacial procedures (except for emergency treatment and surgery during Confinement arising from an accident); correcting visual acuity or refractive errors that can be corrected by fitting of spectacles or contact lens; purchase of durable medical equipment or appliances; traditional Chinese medicine treatment;
- Experimental or unproven medical technology or procedure in accordance with the common standard, or not approved by the recognised authority;
- Prophylactic treatment or preventive care;
- Maternity conditions and its complications; birth control or reversal of birth control; sterilisation or sex reassignment of either sex; infertility; sexual dysfunction;
- Dependence, overdose or influence of drugs, alcohol, narcotics or similar drugs or agents, self-inflicted injuries or attempted suicide or illegal activity;
- Acts of war, civil war, invasion, acts of foreign enemies, hostilities, rebellion, revolution, insurrection, or military or usurped power;
- Human Immunodeficiency Virus and its related Disability which is contracted or occurs before the Policy Effective Date;
- Expenses which have been reimbursed under any government law, medical program or insurance policy
The exclusions of the above points nos. 2, 5, 8, 9 and 11 for TaxVantage Plus Medical Plan also apply to Extra Cancer Benefit . In addition, Extra Cancer Benefit will not pay any benefits in relation to or arising from the followings:
- Pre-existing Conditions (which have been diagnosed, presented signs or symptoms of which the Insured Person has been aware or should reasonably have been aware, or medical advice or treatment has been sought, recommended or received);
- Any Sickness or Disease occurred within 60 days after the Effective Date of Coverage;
- General check-up, convalescence, custodial or sanatorium care or rest care;
- Beautification or cosmetic purposes (except specifically covered under this benefit);
- Genetic testing or any treatment undergone based on genetic test results;
- Preventative screening or checkups; vaccines for the prevention of Cancer;
- Any treatment modality undergone without a definite diagnosis of the presence of Cancer;
- Waste nuclear weapons material, ionizing radiation or contamination by radioactivity from any nuclear fuel;
- Human Immunodeficiency Virus and its related Disability
The exclusions of the above points nos. 7, 8 and 9 forTaxVantage Plus Medical Plan also apply toHospital Income Benefit . In addition, Hospital Income Benefit will not pay any benefits in relation to or arising from the followings:
- Claims due to Sickness or Disease occurring within 15 days of Effective Date of Coverage;
- Pre-existing Conditions (which have been diagnosed, presented signs or symptoms of which the Insured Person has been aware or should reasonably have been aware, or medical advice or treatment has been sought, recommended or received);
- General check-up, convalescence, custodial or sanatorium care or rest care;
- Beautification or cosmetic purposes; dental treatment and oral and maxillofacial procedures (except for emergency treatment and surgery during Confinement arising from an accident); correcting visual acuity or refractive errors that can be corrected by fitting of spectacles or contact lens; traditional Chinese medicine treatment;
- Treatment for tonsils, adenoids or hernia (which occurred within 120 days after the Effective Date of Coverage);
- Congenital deformities or anomalies;
- Racing on horse or wheels;
- Waste nuclear weapons material, ionizing radiation or contamination by radioactivity from any nuclear fuel;
- Human Immunodeficiency Virus and its related Disability
Underwriting factors include insurable interest, health risk, occupational risk, financial justification and residential risk. Information used for underwriting purpose includes Standardized Underwriting Questionnaire (client's family history, past and current health conditions), occupation details, place of residence, financial information and relationship between proposed Insured Person and proposed Policy Holder or/and Beneficiary.
Duty of disclosure and the consequences of not making full disclosureYou are required to disclose in the application all information you know or could reasonably be expected to know because YF Life Insurance International Ltd. will rely on what you have disclosed in this application to accept the risk and the terms of insurance. Your duty of disclosure ends on the signing date of application or the supplementary form(s), whichever is later. If you are in doubt as to whether a fact is material, please disclose it in the application. Failure to comply with this requirement may render the policy issued voidable.
Other InformationFor details of the procedures for making claims, please refer to our website at https://www.yflife.com/en/Hong-Kong/Individual/Services/Claims-Corner. If you have a complaint about this product, please report it via our customer service hotline at 2533 5555, or refer to the details in our website at www.yflife.com.
Premium LevyThe Insurance Authority (IA) imposes a levy on insurance premiums from policy for all new and in-force insurance policies issued in Hong Kong. For details about the levy, please visit the dedicated IA webpage at www.ia.org.hk/en/levy .
Cooling-off Period and Right of CancellationIf you are not satisfied with the policy, you may return it under a signed covering letter to us (27/F, YF Life Tower, 33 Lockhart Road, Wanchai, Hong Kong) within 21 calendar days after the delivery of the policy or delivery of the Notice (which states that the policy is available for collection and the expiry date of the cooling-off period) to you or your representative, whichever is earlier. We will cancel the policy upon receipt of your written request and refund all premiums and levy you paid (no refund can be made if a benefit payment has been made, is to be made or impending), without any interest
SurrenderYou may surrender the policy by submitting a written request on the forms prepared for such purposes together with a copy of your valid identification document and permanent address proof (if applicable). We will arrange the policy surrender.
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DECLARATION & AGREEMENT
Duty of Disclosure
I／We declare and agree on behalf of myself／ourselves that: (1) I／We have read the above Important Note and understand my／our responsibility to disclose all material facts to YF Life Insurance International Ltd. (“the Company”); and (2) All statements and answers made in all parts of the Application are full, complete and true to the best of my／our knowledge and belief whether or not they are in my／our handwriting; (3) If there is any subsequent change to the information provided, I／we undertake to notify the Company as soon as possible and # (4) By purchasing this policy and signing for this section, I／we (being the Proposed Policy Owner) declare that I am／we are not a U.S. citizen／resident or a U.S. person for the purposes of U.S. federal income tax, and that I am／we are not acting for or on behalf of a U.S. citizen／resident or a U.S. person for the purposes of U.S. federal income tax.
# Only applicable to investment linked plan.Declaration & Agreement
I／We understand that I am／we are required to provide valid documentation proofs (such as identity document and address proof) to the satisfaction of YF Life Insurance International Ltd. (“the Company”) for the Company to conduct due diligence on myself／ourselves, the ultimate beneficial owner of the policy to be issued (if any) and the beneficiary under this application (“the Policy”) and my／our authorized signatory(ies) (if applicable) pursuant to the relevant laws and regulations, including Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, Cap. 615. If I／we fail or refuse to do so, the Company shall have the right to suspend all transactions of the Policy, or to deem the Policy surrendered.
I／We, being the ultimate beneficial owner of the policy to be issued under this application (“the Policy”), am／are acting on behalf of myself／ourselves to own and control all the rights of the Policy. If this is not the case, I／we shall put down the relationship and the personal particulars of the ultimate beneficial owner of the Policy in the “Special Remarks” of this application and provide valid documentation proofs (such as his／her identity document and address proof) to the satisfaction of the Company.
I／We hereby on behalf of myself／ourselves irrevocably authorize: (1) any medical attendant, hospital, insurance company, or other organization, institution or individual, who has any records or knowledge of, or has been or may in the future be consulted by me／the Proposed Insured to disclose to the Company or its reinsurers or any legal tribunal any information he or she may have acquired with regard to me／the Proposed Insured for the purpose of evaluating the insurance risk of my application. This authorization shall bind my／the Proposed Insured's successors and assigns and remains valid notwithstanding my／the Proposed Insured's death or incapacity in so far as legally possible. A photocopy of this authorization shall be as valid as the original; (2) the Company or any of its approved medical examiners or laboratories to perform the necessary medical assessment and tests to underwrite and evaluate my／our condition of health in relation to this application and any claim arising therefrom. These tests may include, but are not limited to, tests for blood lipids, diabetes, liver or kidney disorders, acquired immunodeficiency syndrome (AIDS), immune disorders or the presence of medications, drugs, nicotine or their metabolites. I／We hereby grant my／our consent to the Company to collect, use and transfer the above health information in accordance with the Personal Information Collection Statement.
I／We have read the product brochure before signing this application form and I／we fully understood the contents thereof including the key product risks, key exclusions (if applicable), premium adjustment (if applicable) of the insurance plan(s) that I am／we are applying in this application.
I/We understand that any payment made in connection to this application does not guarantee immediate effective of coverage being applied, the effective date of coverage will be on the latest date of (i) sign date of application; (ii) sign date of any supplementary form(s); (iii) all the required premium and levy is received by the Company; or (iv) my/our request effective date.
Personal Information Collection Statement
Purposes of Personal Information Collection
Your personal information (including a record of your image or voice by whatever means and your health information) collected by or held by YF Life Insurance International Ltd. (“YF Life”) may be used for the purposes of: (1) approving, evaluating or processing your insurance application／policy service request; (2) administering, maintaining or reinsuring your policies; (3) adjudicating your claims, or conducting any investigation or analysis of your claims; or (4) data matching; (5) investigation or prevention of crime; or (6) fulfilling legal or regulatory requirements.
Please note that failure to provide any information requested by YF Life may result in YF Life not being able to process your insurance application／policy service request.
Transfer of Personal Information
Your personal information collected by or held by YF Life may be transferred or disclosed by YF Life to any of the following persons (whether within or outside Hong Kong) for the purposes as specified above or to governmental／regulatory bodies (whether within or outside Hong Kong) for them to carry out their governmental／regulatory functions: (1) YF Life group companies and their associated／affiliated companies; (2) financial institutions, insurance companies, intermediaries and reinsurers; (3) claims investigation companies or any companies／persons necessary for claims assessment／investigation; (4) industry associations／federations and their members; (5) governmental／regulatory bodies and law enforcement agencies; (6) crime prevention organizations and their members／participants ; and (7) service providers and selected persons which are under a duty of confidentiality to YF Life.
Access to or Correction of Personal Information
You have the right to access to, and to correct, any of your personal information held by YF Life by writing to our Personal Data Protection Officer. (Address: 27/F, 33 Lockhart Road, Wanchai, Hong Kong). YF Life may charge a reasonable fee for the processing of such request.
“e-Policy Service” Account
I／We agree to apply for an “e-Policy Service” Account (if not yet applied for) and be bound by the Online Terms & Conditions set out in the Privacy Statement／Legal Notice of the website of YF Life Insurance International Ltd. at www.yflife.com and as amended from time to time without prior notice.
Using e-platform
It is my／our responsibility to read the declarations on all the forms uploaded／submitted by me／us, including, without limitation, the following forms in e-platform of the YF Life Insurance International Ltd (YF Life). I／We understand and confirm that my／our use of the e-platform will signify my／our consent to all the declarations and information provided in the said forms: Insurance Application Form, Illustration Documents, Financial Needs Analysis Form, Customer Protection Declaration Form and Amendment to Application Form.
As part of the e-platform process, the YF Life consultant will take photo(s) of my／the proposed insured’s identity documents and required documents and／or do the verification process.
The information related to my／our insurance application will be submitted to YF Life through the e-platform. YF Life will rely on the information uploaded／submitted in the e-platform to YF Life server to process my／our insurance application.
Upon receipt of my／our insurance application／supplementary documents submitted via the e-platform by the YF Life, YF Life will notify me／us via SMS using my／our mobile phone number. If I／we do not receive the above notification from YF Life within seven working days after submitting the insurance application documents completed and signed by me／us via e-platform, I／we will contact my insurance consultant or the Customer Service Officer of YF Life (Tel: 2533-5533) for clarification.
My／Our use of the e-platform does not guarantee acceptance of my／our insurance application／supplementary documents by YF Life. My／Our insurance coverage will commence only after YF Life approves my／our insurance application submitted via e-platform and the Policy is issued to me／us, but subject to the terms and conditions of the Policy to be issued to me／us. YF Life will notify me／us in writing after my／our insurance application is accepted and the Policy is ready to be delivered to me／us.
In consideration of YF Life offering me／us the use of the e-platform, I／we will not hold YF Life liable or in any way responsible for any loss, damages or expenses that I／we may incur in connection with my／our use of e-platform unless caused solely and directly by YF Life’s gross negligence or wilful default.
Acknowledgement and Agreement relating to Reporting and Withholding Obligations under Applicable Requirements
(Only applicable to non investment linked plan)I／We acknowledge that YF Life Insurance International Ltd.(“the Company”) may be obliged to comply with any applicable (local or overseas) requirements of whatever nature prescribed by any (local or overseas) authorities (regulatory, self-regulatory or otherwise) (the “Authorities” and each an “Authority”); and／or any (present or future) commitments or agreements with any Authority; and as amended from time to time (the “Applicable Requirements”), including but not limited to the implementation of the U.S. Foreign Account Tax Compliance Act pursuant to the intergovernmental agreement between Hong Kong and the U.S. and the implementation of the Common Reporting Standard issued by the Organisation for Economic Co-operation and Development pursuant to the Hong Kong Inland Revenue (Amendment) (No. 3) Ordinance 2016.
In this connection, notwithstanding anything contained in this form or any policies or agreements between me／us and the Company, I／we irrevocably agree to provide the Company with all assistance and／or to waive all applicable (legal, regulatory or otherwise) restrictions as may be necessary to enable the Company to comply with the Applicable Requirements. In particular (but without limitation), I／we irrevocably agree that:
- (a) I／We will provide the Company with further information and／or prescribed documents within such time as may be required by the Company;
- (b) The Company may disclose to any Authority (such disclosure may be effected via the Head Office of the Company if applicable) any information about (i) any of my／our policy(ies) (whether the policy(ies) is／are in force or otherwise); and／or (ii) me／us and any Consenting Person as defined hereinafter; and
- (c) The Company may withhold any payments otherwise payable to me／us or to any Consenting Person as defined hereinafter (and pay the withheld amounts to the relevant Authorities if required).
The Company shall not be liable for any costs, loss or damages that I／we or any Consenting Person may incur because of the Company taking any actions for compliance with the Applicable Requirements. If I／we have any doubt on the impact of the aforesaid on me／us or my／our legal or tax position, I／we should seek independent professional advice.
This section shall survive the termination, cancellation and surrender of any of my／our policy(ies).
Confirmation of Levy Arrangement
The commencement date of the Insurance (Levy) Regulation and the Insurance (Levy) Order under the Insurance Ordinance is January 1, 2018#. The owners of the policies are required to pay the levy along with the premium to the relevant insurance companies, who will then pay the levy to the Insurance Authority (“IA”). Moreover, insurance companies are required to report to the IA any levy that remains overdue for more than six months. If an owner of a policy does not pay the required levy, the IA may impose penalty on the owner of the policy. For details, please visit IA website: www.ia.org.hk/en/levy.
I／We understand and agree that YF Life Insurance International Ltd. (YF Life) will apply the following procedures to this policy (“Policy”) in order to comply with the regulations (if applicable):
- If I／we have designated an autopay account to settle the Policy premium, the respective levy of the Policy will be collected at the same time by autopay; and
- If I／we have a Premium Deposit Account, any unsettled levy of the Policy will be collected from the Premium Deposit Account when due; and
- If any Policy premium is to be paid by automatic policy loan (APL), the respective levy of the Policy shall also be paid by APL at the same time and become part of the APL where loan interest shall be charged; and
- The Policy levy will be collected at the time any future premium(s) are made, subject to the respective levy rate and cap; and
- In case of reinstatement, the respective levy of the Policy on the overdue premium(s) must also be paid at the time of reinstatement, subject to the respective levy rate and cap; and
- Any outstanding levy of the Policy will be deducted from benefit proceeds in the event of claim／maturity／surrender; and
- For flexible premium products (e.g., universal life insurance), the actual premium payment and levy will be based on the amount paid (subject to the prevailing administrative rules), if the amount paid by me／us is not the same as the planned premium and respective levy of the Policy; and
- • If I／we cancel the Policy within the Cooling-off Period, the paid levy will be refunded except when the levy is paid by YF Life on behalf of me／us.
For details of Levy arrangement of YF Life, please visit www.yflife.com.
Direct Marketing
YF Life Insurance International Ltd. (“YF Life”) intends to use your name and any of your contact details for direct marketing activities in relation to health, medical, insurance, financial or retirement products or services. However we may not so use your personal data without your consent.
Should you find such use of your personal data not agreeable, please tick the box below.
I／We do not agree to the proposed use of my／our personal data in direct marketing by YF Life.
If you sign below without ticking the box above, it is an indication of your consent for YF Life to so use your personal data for direct marketing activities.
If you prefer not to receive any direct marketing promotions or materials from YF Life, please send your request in writing to our Personal Data Protection Officer. (Address: 27/F, 33 Lockhart Road, Wanchai, Hong Kong). We will, without any charge, cease to so use your personal data in direct marketing activities, upon receipt of your written request.
Cancellation Rights & Refund of Premium(s) & Levy
I understand that I have the right to cancel and obtain a refund of any premium(s) and levy paid (less any market value loss adjustment in case of investment linked plans* and non-linked single premium policies (if applicable)), by giving written notice. Such notice must be signed by me and received directly by the Company (address shown on above) within 21 days after the delivery of the policy or issue of a Notice to me or my representative, whichever is the earlier.
*This application form should only be issued in conjunction with the principal brochure (including the Investment Choice Brochure and the Product Brochure) and the illustration document. I have read and understood the principal brochure (including the Investment Choice Brochure and the Product Brochure) and the illustration document before signing this application form. The selection and allocation of Investment Choices are entirely my own decision. The insurance intermediary has not given me any investment advice or influenced me in any way in the selection of these Investment Choices and their respective allocation at all.