EasyRefund 100% Global Hospital Cash Plan (3-Year)

Please note the relevant product risks. This life insurance plan is underwritten by Hang Seng Insurance Company Limited.

Plan overview

EasyRefund 100% Global Hospital Cash Plan (3-Year) (“EasyRefund” or “the Plan”) is a premium refundable hospital cash life insurance plan underwritten by Hang Seng Insurance Company Limited (“Hang Seng Insurance”). Neither bank deposit nor banking savings plan, the Plan provides Daily Hospital Cash Benefit[2] and gets up to 103% refund of the Total Premiums Paid if no claim for any Supplementary Benefits[1] has been made upon 3-year policy maturity, and 100% refund even if claim(s) is made. Simply apply online to prepare for unforeseen hospitalisation, no medical examination needed.

Only 3 simple steps to apply online – Quote > Apply > Payment

Key features

This plan offers a Policy Term of 3 years with Total Premiums Paid refundable irrespective of any claims of Supplementary Benefits[1] made. Annual payment or Monthly payment are available which cope with your needs flexibly.

If no Supplementary Benefits[1] claim is made, can obtain up to 103% refund of Total Premiums Paid upon 3-year policy maturity. Even if a claim is made, you can still get 100% premium refund.

Payment mode

Premium refund if no claim is made (as % of Total Premiums Paid)

Premium refund if a claim is made (as % of Total Premiums Paid)

Annual mode

103%

100%

Monthly mode

101%

100%

Daily Hospital Cash Benefit [3] payable for Hospital Confinement due to Bodily Injury, Sickness, Disease or Illness [2]. You can choose from 4 levels of Daily Hospital Cash Benefit from HKD300 to HKD1,500 for consideration. If admission to Intensive Care Unit is needed, Extra Hospital Cash Benefit [4] will be paid.

Daily Hospital Cash Benefit

Extra Hospital Cash Benefit

Plan A

HKD300

HKD300

Plan B

HKD600

HKD600

Plan C

HKD1,000

HKD1,000

Plan D

HKD1,500

HKD1,500

Daily premium is as low as HKD12[5]. You can pay premiums either annually or monthly to fit your needs .

No matter where you are, if you need Hospital Confinement[2] due to a Bodily Injury or a Sickness, Disease or Illness and such confinement is certified by a Registered Doctor to be Medically Necessary, a Daily Hospital Cash Benefit[3] will be offered. With admission to Intensive Care Unit (ICU) during Hospital Confinement, an Extra Hospital Cash Benefit[4] shall be paid.

While the policy is in force, in the unfortunate event of death of the Life Insured, the beneficiary will receive the Death Benefit equivalent to 100% of the Total Premiums Paid.

In the event of the Life Insured's death due to Accident, an additional Accidental Death Benefit equivalent to 100% of the Total Premiums Paid under the Basic Plan will be paid.

Once paying the Death Benefit or Accidental Death Benefit compensation, the policy will be terminated accordingly.

Product information

Prepare for unexpected hospitalisation with no geographical restriction

Miss Chan, aged 30, has experienced paying for a considerable amount of unexpected expenses when her parents were hospitalised by accident. Thus, she realised that it is very important to have a Global Hospital Cash Plan. Miss Chan applied for Plan C of EasyRefund 100% Global Hospital Cash Plan (3-Year) (Daily Hospital Cash Benefit: HKD1,000) with part of her monthly income to ease the financial burden brought by being unable to work due to hospitalisation. She will get full premium refund upon policy maturity even claims are made under the plan.

  1. Policy starts

    Monthly premium: HKD1,520

  2. 6 months later

    Miss Chan suffered from pelvic fractures and minor intracranial haematoma as she has a traffic accident when she was traveling in the United Kingdom. After being diagnosed by a Registered Doctor, she was admitted into a local hospital for examinations and treatments[2] for 40 days. She also stayed in the ICU for 5 days.

    • Daily Hospital Cash Benefit: HKD1,000 x 40 days = HKD40,000
    • Extra Hospital Cash Benefit: HKD1,000 x 5 days = HKD5,000
  3. 2 years later

    Miss Chan sought medical consultation at a private hospital for treatment[2] due to stomachache. She was hospitalised for 5 days to receive Gastroscopy and Colonoscopy checkup, this confinement is certified by a Registered Doctor to be Medically Necessary.

    • Daily Hospital Cash Benefit: Claim benefit HKD1,000 x 5 days = HKD5,000
  4. 3 years later

    Receive HKD54,720 upon policy maturity at the third year (Obtain full refund of Total Premiums Paid)

Among the 3-year Policy Term, Miss Chan can receive:

Total amount HKD104,720, equals to 191% of Total Premiums Paid in 3 years[6]

Total amount of premium refund and benefit claimed

Miss Chan can obtain full refund of Total Premiums Paid upon 3-year policy maturity even claim has been made. This plan offers her coverage for loss of income, even during her period of hospitalisation oversea. This plan offers Miss Chan HKD104,720 as total amount of premium refund and benefits claimed (191% of Total Premiums Paid).

Total protection received Amount

100% refund of Total Premiums Paid upon 3-year Policy Maturity

HKD54,720 (HKD1,520 x 12 months x 3 years)

Benefit claimed (Daily and Extra Hospital Cash Benefit)

HKD50,000 (HKD45,000 + HKD5,000)

Ease financial burden by hospital cash plan with full premium refund

Mr. Wong, aged 50, is worried that he will be hospitalised more often as he is getting older, which may cause him loss of income and increased daily expenses. But his insurance plans currently hold may not fulfil his needs. Thus, Mr. Wong applied for Plan D of EasyRefund 100% Global Hospital Cash Plan (3-Year) (Daily Hospital Cash Benefit: HKD1,500) in annual payment mode to ease the financial burden of hospitalisation.

  1. Policy starts

    First year premium: HKD35,760

  2. Year 2

    Second year premium: HKD35,760

  3. Year 3

    Third year premium: HKD35,760

  4. 3 years later

    Receive HKD110,498 upon policy maturity at the third year (103% of Total Premiums Paid)

Fortunately, Mr. Wong had not been hospitalised in the 3 years therefore no claim has been made during the policy years. He could receive a lump-sum amount of HKD110,498 (103% of Total Premiums Paid) upon policy maturity. This plan not only allows him to enjoy additional 3% refund on top of the premiums he had paid but also ease the anxiety of affecting his income due to hospitalization at the same time. [6]

Eligibility

  • EasyRefund 100% Global Hospital Cash Plan (3-Year) is only available to Hang Seng bank account holders
  • You must be aged between 18 and 64 and have a Hong Kong Identity Card to be insured in this plan
  • Premium should be deducted from customer’s Hang Seng bank account or credit card account

FAQs

Application

If no claim is made, you can obtain up to 103% refund of Total Premiums Paid upon 3-year policy maturity. Even when a claim is made, you can still receive 100% premium refund. Please refer to below table for details.

Payment mode

Premium refund if no claim is made (as % of Total Premiums Paid)

Premium refund if a claim is made (as % of Total Premiums Paid)

Annual mode

103%

100%

Monthly mode

101%

100%

EasyRefund 100% Global Hospital Cash Plan (3-Year) currently only accepts online applications.

Yes. This plan is applicable to any region.

If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), we will only pay Daily Hospital Cash Benefit[3] and/or Extra Hospital Cash Benefit[4] under this policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above.

Yes, as long as the total Sum Insured of EasyRefund 100% Global Hospital Cash Plan (3-Year) is no more than HKD1,500, you may apply online for more than one policy of this plan. For non-income earner (i.e. homemaker / students / retirees and unemployed), the maximum coverage is HKD1,000.

Claims-related

You can refer to the below tables with the maximum claim of the benefits and related benefit / policy termination conditions.

Once reaching the maximum number of claim, the Supplementary Benefit[1] will immediately and automatically cease. However, the policy is still in-force, and other benefit will not be affected.

Benefits Maximum number of day to be claimed for each policy
Daily Hospital Cash 300 Days
Extra Daily Hospital Cash 60 Days

Once paying the Death Benefit or Accidental Death Benefit compensation, the policy will be terminated accordingly.

Benefits Time to be claimed for each policy
Death Benefit
1 time
Accidental Death Benefit
1 time

During each policy year of the policy, the cumulative maximum number of days of Hospital Confinement for which Daily Hospital Cash Benefit is payable shall not exceed one hundred 100 days. During the whole Policy Term of the policy, the cumulative maximum number of days of Hospital Confinement for which Daily Hospital Cash Benefit is payable per policy shall not exceed three hundred 300 days.

If the Hospital Confinement occurs in a place[8] other than listed as a Benefit Area[7], the amount payable for Each Day of Daily Hospital Cash Benefit will be limited to 50% of the benefit amount and the cumulative maximum number of days of Hospital Confinement for which Daily Hospital Cash Benefit is payable per policy shall not exceed 30 days during the whole Policy Term of the policy.

The Daily Hospital Cash Benefit and Extra Hospital Cash Benefit will immediately and automatically cease once total claims of Daily Hospital Cash Benefit reach 300 days of Hospital Confinement.

For Each Day of Hospital Confinement, the Extra Hospital Cash Benefit will be paid only when the Daily Hospital Cash Benefit is eligible to be paid.

During the whole Policy Term of the policy, the cumulative maximum number of days of Hospital Confinement (which admission to Intensive Care) for which Extra Hospital Cash Benefit is payable per policy shall not exceed 60 days.

If the Hospital Confinement occurs in a place[8] other than listed as a Benefit Area[7], the amount payable for Each Day of Extra Hospital Cash Benefit will be limited to 50% of the benefit amount and the cumulative maximum number of days of Extra Hospital Cash Benefit is payable per policy shall not exceed 30 days during the whole Policy Term of the policy.

The Extra Hospital Cash Benefit will immediately and automatically cease once total claims of Daily Hospital Cash Benefit reach 300 days of Hospital Confinement.

Daily Hospital Cash Benefit and Extra Hospital Cash Benefit are subject to 30 days waiting period – Cover Sickness, Disease or Illness occurring at least 30 days after the policy date or the effective date of reinstatement, whichever is later.

Policy administration

Once you complete the online EasyRefund application form, you will be asked to confirm and verify your details on a preview page. The same day, a confirmation email will be sent to the email address you provided in your application, assuring you that your application of this plan has been received.

We will notify you regarding the application notification by sending a SMS to your default mobile number on record at Hang Seng Bank after 7 to 10 working days under normal circumstances. Once the policy has been successfully issued, you can view the policy details and policy pack by logging on Hang Seng Bank Personal e-Banking (Desktop) > "Insurance" > "My insurance". If you haven't registered for Hang Seng Bank Personal e-Banking, a paper version of the policy pack will also be prepared for you. This simplified process frees you from the hassle of typical insurance applications.

You could also log on Hang Seng Personal e-Banking or Hang Seng Personal Banking mobile app to manage and inquire about your policy details on the "My Insurance" page anytime 24/7 once your policy is approved. You can call our hotline at (852) 2596 6262 during office hour for queries.

The Plan offers a grace period of 30 days for payment of any premium when due. If a premium is not paid by the end of the grace period, the policy will immediately lapse.

If you are not satisfied with your policy, you have the right to cancel it within 21 calendar days cooling off period by returning the policy surrender form and obtain a refund of any premium and premium levy paid. After the cooling-off period, the policy holder may request for policy surrender (i.e. Policy cancellation) by returning the policy surrender form at any time, after which the policy will terminate.

If the customer cancels his or her policy after the cooling off period, regardless of any claims made previously, the premium based on the corresponding schedule below will be refunded, provided the policy is still in force on the day of policy surrender.

Effective Date of Surrender, Lapse, Termination

Premium refund if no claim is made (as % of Total Premiums Paid)

Premium refund if a claim is made (as % of Total Premiums Paid)

Before 1st Policy Anniversary

70%

70%

On or after 1st Policy Anniversary and before 2nd Policy Anniversary

70%

70%

On or after 2nd Policy Anniversary and before Policy Maturity

70%

70%

On the Benefit Cessation Date – Annual mode (i.e. Maturity)

103%

100%

On the Benefit Cessation Date – Monthly mode (i.e. Maturity)

101%

100%

Make a claim

Claim procedures

Find details on how to submit your claim and more.

Download form

You can find all the forms and documents here for our insurance products.

Useful information

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Closed on Sundays and public holidays

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Footnote

Other point(s) to note

  1. EasyRefund 100% Global Hospital Cash Plan (3-Year) is underwritten by Hang Seng Insurance Company Limited. Hang Seng Insurance Company Limited is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank is an insurance agent authorised by Hang Seng Insurance Company Limited and the insurance products are products of Hang Seng Insurance Company Limited but not Hang Seng Bank. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Hang Seng Bank and you out of the selling process or processing of the related insurance product transaction, Hang Seng Bank will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between Hang Seng Insurance Company Limited and you directly.
  2. The above information is intended as a general summary of information for reference only. It shall not be construed as an offer to sell or solicitation of an offer or recommendation to purchase or sale or provision of any products of Hang Seng Insurance Company Limited. Please refer to the actual policy for the exact terms, conditions and exclusions of the Plan.
  3. EasyRefund 100% Global Hospital Cash Plan (3-Year) offers limited daily quota. New quota will be released at 12 noon every day. Hang Seng Insurance Company Limited reserves the right to accept or decline any applications subject to the plan's availability.

Remark(s)

  1. Supplementary Benefits include Daily Hospital Cash Benefit, Extra Hospital Cash Benefit, and Accidental Death Benefit.
  2. Cover the Hospital Confinement due to a Sickness, Disease or Illness occurring at least 30 days after the policy effective date where such confinement is certified by a Registered Doctor to be Medically Necessary for a minimum period of 6 consecutive hours and a charge for daily room and board by the Hospital is incurred. “Medically Necessary” means medical services and Hospital Confinement which are necessary for the care or treatment of the Bodily Injury, Sickness, Disease or Illness and which are: (i) consistent with the diagnosis and customary medical treatment for medical condition; and (ii) in accordance with good and prudent medical practice; and (iii) not for the convenience of the Policyholder, the Life Insured or any individual who cares for him or any individual who is part of his family. “Hospital” means an establishment recognized, constituted and registered as such under the laws of the territory in which that establishment is situated as a hospital for the care and treatment of sick and injured persons as paying bed patients, and which (i) has facilities for diagnosis and major operations, (ii) provides 24 hours a day nursing services by Registered Nurse, (iii) is under the supervision of a Registered Doctor, and (iv) is not primarily a clinic, a place for alcoholics or drug addicts, a sanatorium, a nature care clinic, a health hydro, an observatory ward, a rehabilitation, physiotherapy, nursing, rest or convalescent home, home for the aged, an isolation or quarantine accommodation for infectious diseases or similar establishment.
  3. During the whole Policy Term of the Plan, this benefit will be paid up to 300 days for all Hospital Confinements per policy, with limit at 100 days per policy year. The benefit of Daily Hospital Cash Benefit will be terminated automatically upon the payment of 300 days of the Daily Hospital Cash Benefit. If in the case where the Hospital Confinement [8] occurs in a place other than listed as a Benefit Area [7], the Daily Hospital Cash Benefit will be limited to 50% of the protection amount and the benefit will only be paid up to 30 days for Hospital Confinement per policy.
  4. The Extra Hospital Cash Benefit, up to 60 days during the whole Policy Term, shall be paid.  The Extra Hospital Cash Benefit will immediately and automatically cease once (i) Hang Seng Insurance has paid Extra Hospital Cash Benefit for 60 days; or (ii) Hang Seng Insurance has paid Daily Hospital Cash Benefit for 300 days (whichever is earlier).  If in the case where the Hospital Confinement[8] occurs in a place other than listed as a Benefit Area[7], the Extra Hospital Cash Benefit will be limited to 50% of the protection amount and the benefit will only be paid up to 30 days for Hospital Confinement per policy.
  5. Calculation of the premium is based on a 25-year-old male with a choice of Plan A of Annual Payment Mode. The figure is rounded up to the nearest integer.
  6. The figures in the above examples, which are for reference only, are rounded and the actual figures may vary due to the rounding logic. For the actual Total Premiums Paid, Daily Hospital Cash Benefit, Extra Hospital Cash Benefit and other details, please refer to the Illustration Summary of your chosen insurance plan and the Policy Provisions.
  7. “Benefit Area” means the following places: Hong Kong SAR, Macau SAR, Taiwan, Singapore, Malaysia, Thailand, Japan, South Korea, Canada, United States of America, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Australia, New Zealand.
  8. If the Hospital Confinement occurs in mainland China (excluding the Hong Kong SAR, the Macau SAR and Taiwan), Hang Seng Insurance will only pay Daily Hospital Cash Benefit under this policy if the medical services are provided in the hospitals that are formally assessed and rated by the National Health Commission of the People's Republic of China or local governments’ health commissions of the People's Republic of China as a “Class III Grade A” hospital or above.
  9. This is a rate of premium refund upon maturity of annual payment mode with no benefits have been paid or become payable under any Supplementary Benefits conditions apply.