Consider whether you can afford the relatively long waiting time for public medical services. Although the public healthcare system in Hong Kong offers relatively affordable medical services, they are always over-utilised. This often means long waiting times for non-urgent medical treatment. You may be unable to receive instant medical care.
If you prefer private medical service, consider taking out accident insurance or a medical insurance policy. Insurance is a risk transfer tool that allows insured persons to shift responsibility for some of their medical expenses to an insurer. Learn more about the price level of private medical services by making reference to the published price lists on the websites of private hospitals. If you find the charges unaffordable, consider taking out accident and medical insurance that suits your needs, to shift the responsibility for some of your medical expenses to an insurer. Bear in mind that group medical insurance works on a reimbursement basis to cover the actual medical expenses. Pay attention to the adequacy of your existing protection in terms of coverage, policy limit and benefit limits. If you don’t find that it is suitable for your needs, consider taking out additional individual medical insurance that suits your needs to fill the protection gap.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Evaluate the adequacy of the protection of your existing policies, in terms of coverage, policy limit, sub-limit for each benefit item, and deductible. If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio.
Accident insurance typically pays a lump-sum benefit for accidental death or disability. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Make sure you understand the functions and coverage of accident insurance. It typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide inpatient or outpatient coverage for medical treatment arising from an accident. However, bear in mind that accident insurance covers only conditions that result from unexpected accidents. If you wish to be covered for other non-accidental conditions, such as illness, consider taking out individual medical insurance or the Voluntary Health Insurance Scheme (VHIS). Make sure you understand the functions and coverage of critical illness insurance. It provides a lump-sum benefit if you are diagnosed with a specified critical illness covered by the policy. The use of the benefits is not restricted. You can use them for loan repayment or the daily expenses of your dependents, for example.
Medical insurance, however, works on a reimbursement basis to cover actual medical expenses. It does not require the condition of specified critical illness. Therefore, if you are covered only by critical illness insurance, consider whether you need medical insurance, which provides protection fitting your needs.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Learn more about medical insurance and accident insurance and choose the appropriate products to shift some of the potential medical expenses to your insurer.
Medical insurance works on a reimbursement basis to cover actual medical expenses, subject to a cap. Common types of coverage include hospitalisation and outpatient protection. Some medical insurance policies may also provide hospital cash benefits for the insured person.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident.
Evaluate your needs for healthcare protection and choose the insurance product(s) that best suits your needs. Review your current protection and consider whether your medical needs are well addressed, in terms of coverage, benefit limits and deductibles even if you already have two types of protection: group and individual medical insurance or the Voluntary Health Insurance Scheme (VHIS).
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Review your current protection and consider whether your medical needs are well addressed, in terms of coverage, benefit limits and deductibles even if you already have two types of protection: group medical insurance and personal accident insurance.
Bear in mind that group medical insurance works on a reimbursement basis to cover actual medical expenses and learn more about the protection details, such as coverage, policy limit and sub-limit for each benefit item. If you don’t find that it is suitable for your needs, consider taking out an additional individual medical insurance policy that suits your needs to fill the protection gap. Be aware of the difference between group medical insurance and critical illness insurance.
In general, group medical insurance works on a reimbursement basis to cover the actual medical expenses. Learn about the protection details, such as coverage, policy limit and sub-limit for each benefit item. If that do not match with your needs, consider taking out an additional individual medical insurance policy that suits your needs to fill the protection gap.
Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by the policy. There are no restrictions on how you can use the benefits. You can use them to repay a loan or for the daily expenses of your dependents, for example.
Accident insurance typically pays a lump-sum benefit for accidental death or disability. Some accident insurance plans provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Review your current protection and consider whether your medical needs are well addressed, in terms of coverage, benefit limits and deductibles even if you already have two types of protection: individual medical insurance or the Voluntary Health Insurance Scheme, and personal accident insurance. Think about how to make a good use of both types of coverage if you are ill or injured.
If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio. Review your existing policies and make sure you understand the difference between individual medical insurance or the Voluntary Health Insurance Scheme (VHIS), and critical illness insurance, so that you are covered by suitable insurance.
Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by your policy. There are no restrictions on how you use the benefits. You can use them to repay a loan or for the daily expenses of your dependents, for example.
Individual medical insurance or the VHIS, in general, works on a reimbursement basis to cover actual medical expenses, subject to a cap. Review your existing protection in terms of coverage, policy limit, sub-limit for each benefit item and deductible. If you find your current protection is insufficient, consider adjusting your insurance portfolio.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Review your existing policies, and make sure you understand the difference between critical illness insurance and personal accident insurance, so that you are covered by suitable insurance.
Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by the policy. There is no restriction on how you use the benefits. You can use them for loan repayment or for the daily expenses of your dependents, for example.
Medical insurance works on a reimbursement basis to cover actual medical expenses. There are no specified types of critical illness. Therefore, if you are covered only by critical illness insurance, consider whether you need medical insurance, which provides protection fitting your needs.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. However, bear in mind that accident insurance covers only conditions that result from unexpected accidents. If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio. Review your current protection, and consider whether your medical needs are well addressed, in terms of coverage, benefit limits and deductibles, and make sure you understand the functions of each of your insurance policies: group medical insurance, individual medical insurance or the Voluntary Health Insurance Scheme, and personal accident insurance.
Medical insurance works on a reimbursement basis to cover actual medical expenses. There are no specified types of critical illnesses. Therefore, if you are covered only by critical illness insurance, consider whether you need medical insurance, which provides you with more targeted protection.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. But bear in mind that accident insurance covers only conditions that result from unexpected accidents. If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio. Review your existing policies and make sure you understand the difference between group medical insurance, personal accident insurance and critical illness insurance, so that you are covered by suitable insurance.
In general, group medical insurance works on a reimbursement basis to cover actual medical expenses, subject to a cap. Evaluate whether your coverage is sufficient in terms of coverage, policy limit and sub-limit for each benefit item.
Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by the policy. There is no restriction on how you use the benefit. You can use it to repay a loan or for the daily expenses of your dependents, for example.
Accident insurance typically pays a lump-sum benefit for accidental death or disability. Some accident insurance plans also provide inpatient or outpatient coverage for medical treatment arising from an accident.
If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio. Review your current protection, and consider whether your medical needs are well addressed, in terms of coverage, benefit limits and deductibles, and make sure you understand the functions of each of your insurance policies: individual medical insurance or the Voluntary Health Insurance Scheme (VHIS), personal accident insurance, and critical illness insurance.
Individual medical insurance or the VHIS, in general, works on a reimbursement basis to cover actual medical expenses, subject to a cap. Evaluate whether your existing protection is adequate.
Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by the policy. There is no restriction on how you use the benefit. You can use it for loan repayment or for the daily expenses of your dependents, for example.
Bear in mind that accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident.
If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio. Review your existing policies, and make sure you understand the difference between group medical insurance, individual medical insurance or the Voluntary Health Insurance Scheme (VHIS), and critical illness insurance, so that you are covered by suitable insurance.
Group medical insurance, individual medical insurance or the VHIS, in general, works on a reimbursement basis to cover actual medical expenses, subject to a cap. Determine whether your existing protection is adequate in terms of coverage, benefit limits and deductibles.
Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by the policy. There are no restrictions on how you use the benefit. You can use it for loan repayment or for the daily expenses of your dependents, for example.
Accident insurance typically pays a lump-sum benefit for accidental death or disablement. Some accident insurance plans also provide hospitalisation or outpatient coverage for medical treatment arising from an accident. Consider taking out an accident insurance policy if you do not have this coverage at the moment. Review your current protection and consider whether your medical needs are well addressed, in terms of coverage, benefit limits and deductibles, and make sure you understand the functions of each of your insurance policies.
Critical illness insurance is different from medical insurance and accident insurance. Critical illness insurance provides a lump-sum benefit if you are diagnosed with a critical illness covered by the policy. There are no restrictions on how you use the benefit. You can use it for loan repayment or for the living expenses of your dependents, for example.
If you are not sure about your protection, consult your insurer or intermediary. If you find your current protection is insufficient, consider adjusting your insurance portfolio.

Consider whether you can afford the future living expenses of you and your dependents, if you lose your ability to work in the event of a serious illness. Critical illness insurance provides a lump-sum benefit if the insured person is diagnosed with a critical illness covered by the policy. There is no limitation on the use of the benefits. The insured person can use them for medical or daily expenses. Unlike medical insurance, which covers medical expenses on a reimbursement basis, critical illness is an accelerated death benefit, which enables the policyholder to receive a cash advance against the death benefit. The policy terms contain a specific description of the medical conditions of critical illness. Commonly covered critical illnesses include cancer, disablement, heart and major organ-related diseases. Some products extend the coverage to early-stage illness, such as carcinoma in situ, but the compensation amount is usually a prescribed percentage of the insured sum. For traditional products, they offer only one-time compensation, i.e, the policy will be terminated once the insured person has received the claim payment. Nevertheless, there are also other products emerging in the market accommodating multiple claims by the insured person. If the insured person is diagnosed with one of the prescribed illness and receives a claim payment, the policy is still valid. Even if the insured person is affected by the same illness or diagnosed with another prescribed illness after a specified period, they can still file another claim with the insurer. Be sure to compare the coverage of different products and understand the definitions before taking out a policy. Also, the design of the products with multiple benefits is relatively complex. The terms and conditions vary among products, including the definitions of new diseases, recurrence and waiting periods. To avoid a claim dispute in the future, you should read the relevant terms and conditions carefully, and consult your insurer or intermediary if needed. You should also assess if the benefit is sufficient to cover daily expenses if you lose your ability to work due to serious illness, especially the benefit for the first time being diagnosed with a critical illness, as it is uncertain whether a person recovered from critical illness will contract the illness again. The policy terms contain a specific description of the medical conditions of critical illness. Commonly covered critical illnesses include cancer, disablement, heart and major organ-related diseases. Some products extend the coverage to early-stage illness, such as carcinoma in situ, but the compensation amount is usually a prescribed percentage of the insured sum. For traditional products, they offer only one-time compensation, i.e, the policy will be terminated once the insured person has received the claim payment. Nevertheless, there are also other products emerging in the market accommodating multiple claims by the insured person. If the insured person is diagnosed with one of the prescribed illness and receives a claim payment, the policy is still valid. Even if the insured person is affected by the same illness or diagnosed with another prescribed illness after a specified period, they can still file another claim with the insurer. Be sure to compare the coverage of different products and understand the definitions before taking out a policy. Also, the design of the products with multiple benefits is relatively complex. The terms and conditions vary among products, including the definitions of new diseases, recurrence and waiting periods. To avoid a claim dispute in the future, you should read the relevant terms and conditions carefully, and consult your insurer or intermediary if needed. You should also assess if the benefit is sufficient to cover daily expenses if you lose your ability to work due to serious illness, especially the benefit for the first time being diagnosed with a critical illness, as it is uncertain whether a person recovered from critical illness will contract the illness again. Be sure to compare the coverage of different products and understand the definitions before taking out a policy. Also, the design of the products with multiple benefits is relatively complex. The terms and conditions vary among products, including the definitions of new diseases, recurrence and waiting periods. To avoid a claim dispute in the future, you should read the relevant terms and conditions carefully, and consult your insurer or intermediary if needed. You should also assess if the benefit is sufficient to cover daily expenses if you lose your ability to work due to serious illness, especially the benefit for the first time being diagnosed with a critical illness, as it is uncertain whether a person recovered from critical illness will contract the illness again. For traditional products, they offer only one-time compensation, i.e, the policy will be terminated once the insured person has received the claim payment. Nevertheless, there are also other products emerging in the market accommodating multiple claims by the insured person. If the insured person is diagnosed with one of the prescribed illness and receives a claim payment, the policy is still valid. Even if the insured person is affected by the same illness or diagnosed with another prescribed illness after a specified period, they can still file another claim with the insurer. Be sure to compare the coverage of different products and understand the definitions before taking out a policy. Also, the design of the products with multiple benefits is relatively complex. The terms and conditions vary among products, including the definitions of new diseases, recurrence and waiting periods. To avoid a claim dispute in the future, you should read the relevant terms and conditions carefully, and consult your insurer or intermediary if needed. You should also assess if the benefit is sufficient to cover daily expenses if you lose your ability to work due to serious illness, especially the benefit for the first time being diagnosed with a critical illness, as it is uncertain whether a person recovered from critical illness will contract the illness again.

The life expectancy of Hong Kong people ranks at the top among developed economies and in the world. In 2020,　the life expectancy at birth was 83 years for men and 88 years for women in Hong Kong, an increase of approximately 8 years from 30 years ago.

A longer life expectancy implies more expenses and therefore savings needed. Also, essential expenses, such as health care expenses, may suddenly increase since your health condition may be difficult to predict after you reach retirement age. To save money for a rainy day, you may need to save more now to meet the extra needs brought about by longevity. If you wish to have a stable income after retirement, you can also consider insurance products for retirement planning, such as annuities. Based on your expected retirement expenses, you may have relatively abundant savings at retirement. However, if you wish to have a stable income after retirement, you can also consider insurance products for retirement planning, such as annuities.

An annuity is a retirement planning tool that helps individuals convert their savings into a stable stream of income over a period of time, thus mitigating the financial risks associated with longevity.
Policyholders pay a premium (in a lump sum or by instalments) to an insurer, which in turn, provides them with a regular annuity starting from a designated annuitisation age or period until the policyholder passes away or the end of the annuitisation period.

Building structure: This covers the cost of replacing the building structure. When reviewing your existing coverage or choosing a new product, consider whether the insured amount is adequate and reasonable, and make sure you understand whether your insurance cover is on an “all risks” basis or “specified perils” basis, which affects the risks covered (e.g. fire).

Home contents / personal belongings: Check whether the policy covers household and personal belongings, and whether there is any geographical restriction. In recent years, a number of products have emerged in the market providing cover beyond the household location. Some even provide worldwide coverage for your belongings.

Personal liability: This protection is not limited to owners and tenants, since any individual may face legal liability for accidental death or bodily injury of a third party or accidental loss or damage to a third-party property resulting from negligence. For example, damage to a neighbour’s property from water seepage from your home, or damage to a third party’s property if something falls from your home may result in a personal liability claim. When reviewing your existing coverage or choosing home insurance, consider prudently the insured amount and coverage for this protection. Personal liability: This protection is not limited to owners and tenants, since any individual may face legal liability for accidental death or bodily injury of a third party or accidental loss or damage to a third-party property resulting from negligence. For example, damage to a neighbour’s property from water seepage from your home, damage to a third party’s property if something falls from your home, or injury to a third party if your pet injures them may result in a personal liability claim. In addition to medical coverage for your pet, some pet insurance in the market covers indemnity against third party claims. When reviewing your existing coverage or choosing home or pet insurance, consider prudently the insured amount and coverage for this protection.