The premium payment term and the benefit term are up to age 100 of the Insured. 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.
The policy will be terminated when one of the following events occurs:
The policy will be renewed at the expiration of each 5-year term for another term upon receipt of the payment of the premium in accordance with the premium rate in effect of the same plan of the then attained age of the Insured on the date of renewal. YF Life Insurance International Ltd. reserves the right to change the premium on each renewal. The major factors to consider for premium adjustment include, but not limited to, the claim experience of YF Life Insurance International Ltd. and expenses.
Where the actual rate of inflation is higher than expected, the policy owner might receive less in real terms even if YF Life Insurance International Ltd. meets all of its contractual obligations.
This 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.
If the Insured commits suicide, whether sane or insane, within one year from the Policy Date, the total liability of YF Life Insurance International Ltd. shall be limited to the premiums paid less any benefit amount that has been paid or is payable.
The policy will not pay any benefit claim to a Carcinoma-in-situ/Early Stage Cancer, Cancer or Stage III/IV Cancer caused directly or indirectly, by or resulting from one or more of the following:
You 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.
For details of the procedures for making claims, please refer to our website at: https://corp.yflife.com/en/Hong-Kong/Individual/Services/Claims-Corner
The Insurance Authority (IA) collects levy on insurance premiums from policy holders through the Company for insurance policies issued in Hong Kong. For details about the levy, please visit the dedicated webpages at www.ia.org.hk/en/levy.
If 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, without any interest. No refund can be made if a benefit payment has been made, is to be made or impending.
You 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.
For details of the product benefits, features and terms and conditions, please refer to the product brochure.
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; (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.
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.
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, YF Life Tower, 33 Lockhart Road, Wanchai, Hong Kong). YF Life may charge a reasonable fee for the processing of such request.
I have read the product information and benefit details carefully. I declare that this product fulfils my insurance objective of having health care needs (e.g. critical illness, hospitalization etc.). I understand that the product is a cancer benefit, when all the conditions stated in the contract are satisfied, I/ the beneficiary will receive a one-off indemnity. And I understand that the product has no savings or investment components. I confirm that this product can meet my protection needs.
I have sufficient knowledge and experience to fully understand and accept the product features, benefits, fees and charges and its associated risks and key exclusions of the product I selected.
I hereby declare and agree that the product and the insurance amount I selected are suitable for me as they can meet my disclosed needs. And, I can afford and anticipate to pay the required premiums continuously. I understand the premium may become higher as my age increases. I confirm I have the financial ability to pay the premiums. I also understand if I fail to pay the premium by the anniversary date, it indicates my unwillingness to continue with the insurance policy.
For Summary of product, please click here.
For Policy provisions, please download here.