Author
Bowtie Team
Updated on
2025-07-22
Disclaimer: This article is translated with the assistance of AI.
Purpose of Term CI
Term CI provides a lump-sum cash payout as “emergency funds” for policyholders whose lifestyles change due to illness (such as losing their job or self-care ability), helping them cover living expenses (like supporting a family or mortgage payments). Bowtie (Bowtie Life)’s Term CI is a rare term critical illness insurance on the market, meaning it’s a pure protection plan without any savings component.
Bowtie Term CI vs Cancer Fighter
Bowtie’s other product, Cancer Fighter, reimburses policyholders for eligible medical expenses incurred from treating covered cancers—it’s a reimbursement-based insurance. In contrast, Term CI offers a lump-sum cash payout to subsidize living expenses, easing the financial burden from critical illnesses. We recommend getting both products for comprehensive coverage that’s also cost-effective.
Actuary: More Coverage Not Always Better
Bowtie’s Term CI is the first in Hong Kong to reference standard definitions from insurance associations in other countries (including the UK’s Association of British Insurers, Singapore’s Life Insurance Association, and Taiwan’s Life Insurance Association of the Republic of China), adopting the most lenient definitions possible to provide more comprehensive protection.
Another unique feature of this plan is the pioneering “Major Medical Treatment,” which uses the severity of the medical care received as the compensation criterion. Previously, insurance companies had varying definitions of “critical illness,” often expanding coverage to over 100 diseases, including many rare ones. This might seem comprehensive, but it offers limited practical value.
That’s why Bowtie Term CI not only covers 38 common severe critical illnesses but also includes a 4-layer Bowtie Safety Net for unlisted conditions: “Terminal Illness,” “Total and Permanent Disability,” “Loss of Independent Existence,” and “Major Medical Treatment.” For “Major Medical Treatment,” if the policyholder undergoes complex surgery outside the specified illnesses and stays in ICU for 5 consecutive days post-surgery, they still receive 100% critical illness payout. With only 42 covered illnesses, Bowtie Term CI delivers even more thorough protection.
Who Needs Critical Illness Insurance?
Bowtie’s Term CI isn’t designed for a specific age group—anyone from 15 days old to 65 years old can apply. But we especially recommend it for those with financial responsibilities (like newlyweds or new parents). If misfortune strikes with a critical illness, it helps handle sudden life changes without extra financial stress.
Lower Premiums, Highest Coverage
Bowtie Term CI excludes savings components and insurance intermediary fees, making premiums 22 times lower than typical savings critical illness products. It also offers the highest insurable amount among similar products (online application, no medical check-up term critical illness insurance), up to HK$4 million . Plus, it provides 5% of the sum insured as a compassionate death benefit.
Get a Quote for You & Family: Bowtie Term CI
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