Disclaimer: This article is translated with the assistance of AI.
Medical Insurance refers to an insurance product that provides compensation for the insured person’s hospitalization, surgery, and other types of medical services expenses. There are two compensation methods: “as-charged” and “lump-sum compensation.”
Life Insurance is a type of insurance that provides a lump-sum cash compensation to the beneficiary upon the insured person’s death, including term life insurance, whole life insurance, savings life insurance, and investment-linked life insurance. If you want to learn about the differences between various life insurance types, you can read another article titled ” Life Insurance Types “.
Retirement protection products (such as annuities ) are also considered a form of life insurance, which similarly includes ” death benefit ,” but the primary purpose of annuities is to help the insured person plan for retirement. The insured can convert their savings into long-term, stable cash income, like a “permanent salary,” serving as a conservative income-generating tool.
General personal insurance can include the following types, and you can choose based on your needs:
Household furniture, appliances, and belongings can all be insured. The most common home insurance is the ‘Homeowners Comprehensive Insurance’, with coverage as follows:
To learn more about home insurance, read this article .
Car insurance can be divided into ‘Third Party Only’ and ‘Comprehensive’. The former covers third parties, including passengers, but generally does not cover the driver or damage to your own car; the latter includes all ‘Third Party Only’ coverage and additionally protects against car damage from floods, fires, traffic accidents, or theft. If you want to learn more about car insurance, read ” this article ”
Travel insurance aims to provide coverage for losses incurred by the insured during travel, including:
If you want to learn more about travel insurance, read ” this article ”
In addition to the aforementioned and more common products, the Hong Kong insurance market also offers many coverages tailored to different special scenarios, such as Sport Insurance , Drone Insurance , Cruise Insurance , etc., which can protect athletes, personal property, and various travel situations.
Insurance products on the market come in various forms and can provide different types of coverage, but purchasing them without careful consideration can lead to surprisingly high premium expenses. If you feel a lack in coverage and don’t know where to start, we suggest you:
This includes Health Insurance / Voluntary Health Insurance , accident insurance, cancer insurance, critical illness insurance, and more.
Imagine if you unfortunately fall ill and have to bear substantial treatment costs; or even need to pause work for treatment, facing financial pressure—these insurance products can protect yourself, your family, and your personal assets.
Many companies provide group health insurance for employees as a benefit to retain talent, and this type of insurance generally offers basic outpatient and inpatient coverage, sufficient for handling common colds, flu, and simple hospital procedures.
If you don’t have company health insurance, you should definitely get a VHIS / health insurance! Because if you unfortunately fall ill or need hospital treatment due to an accident, you will rely on personal health insurance to cover medical expenses.
If you already have company health insurance, you can think one step further: “ Is company health insurance sufficient? ”. You may consider purchasing Top-Up health insurance, which means adding another personal health insurance policy to your existing company plan to fill in the coverage gaps. If the insured unfortunately needs surgery and the medical costs exceed the company’s insurance payout, the Top-Up health insurance can cover the difference, so the insured won’t have to pay the large medical fees themselves.
If you want to learn how to choose a Top-Up health insurance plan, you can read this article in detail: Read article
If you are a homeowner and the family’s breadwinner, you should consider purchasing Life Insurance .
When you and your partner buy a home together, and one of you passes away unexpectedly due to an accident or serious illness, continuing mortgage payments with only one income can become burdensome. A life insurance policy with a similar amount of coverage can provide a “death benefit” to help your spouse continue the payments.
If you are the sole breadwinner in the family, it is even more important to purchase life insurance to ensure that your loved ones can manage financially if you pass away unexpectedly.
As for whether you need to purchase Home Insurance , Motor Insurance , or Travel Insurance , it depends on whether you own the relevant assets.
Bowtie offers a full range of products without agent commissions and without any savings component, making the premiums more affordable and providing better value for money. Additionally, Bowtie products use a monthly premium payment model, offering greater flexibility for customers.
Bowtie Products | Coverage |
VHIS | Reimbursement for eligible hospitalization-related medical expenses on an actual basis |
Touchwood (Accident) | Reimbursement for eligible medical expenses arising from accidents on an actual basis |
Cancer Fighter | Reimbursement for eligible medical expenses related to cancer on an actual basis |
Term Life | A lump-sum payout upon the insured’s death |
Critical Illness | A one-time or multiple lump-sum payouts if the insured suffers from a covered critical illness (depending on the plan) |
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