Objective of the application
EasyRefund 100% Global Hospital Cash Plan (3-Year) is a non-participating refundable hospital cash and life insurance plan that provides hospital cash coverage.
Type and nature of the product
This is a refundable hospital cash life insurance plan and neither a bank deposit plan nor a bank savings plan. It is underwritten by Hang Seng Insurance Company Limited.
Payment period & benefit period
This refundable hospital cash life insurance plan will cover you for 3 years and your contribution, which you selected at previous stage, will be for the 3 years (or 36 months). Please note, you should only apply for this hospital cash life insurance plan if you intend to make the required payments for the entire premium payment term.
Daily Hospital Cash Benefit and Extra Hospital Cash Benefit are subject to waiting period. Hospital confinement due to sickness, disease or illness occurring at least 30 days after the policy effective date will be covered.
Affordability and liquidity risk
With your income and/or liquid assets, you can afford the premium payments and applicable levies required for this life insurance product throughout the policy term. You will receive a value that equals to the Premium Refund at maturity at the end of the policy term. You are expected to keep your policy for the entire policy term. However, if you decide to surrender before the end of the policy term, or you do not keep up your required payments, there is a risk that you will receive an amount which may be less than the premium you have already paid.
If the above does not align with your expectation, this product may not be suitable for your insurance needs and you should explore our other life insurance plans.