Author
Bowtie Team
Updated on
2025-07-10
Disclaimer: This article is translated with the assistance of AI.
Wondering if Bowtie Term CI is worth it? See how it outperforms other critical illness plans on premiums, coverage, and more—our team breaks down 3 key advantages!
✨Unique Advantage 1: Provides 5 Claims for Critical Illnesses, Rare in the Market!
Recent data shows that the risk of recurrence for critical illnesses has increased significantly compared to the past, especially for the three major critical illnesses (cancer, heart disease, stroke). For example, for liver cancer, heart disease, and stroke, their recurrence rates* have reached 61.5%, 42%, and 35% respectively.
Therefore, Term CI Multiple Cover has become very important, but most term critical illness policies in the market only pay out once, making it difficult to cover the recurrence of the three major critical illnesses. Currently, only a few plans on the market offer multiple claim term critical illness insurance, but some of these plans, although comprehensive in coverage, have relatively high premiums .
The Bowtie team is now referencing 10Life’s “Comparison of Term Critical Illness Insurance (Consumption Type)” data to help everyone gain a deeper understanding of the term critical illness products with multiple coverage categories available in the market:
| Insurance Company and Product | 10-Year Average Annual Premium (for HK$1,000,000 Coverage)^ |
| Term CI Early Stage and Multiple Cover | $2,443 |
| G Company “LionGuardian Plus One” | $5,799 |
| O Company “Infini Care Policy” | $2,742 |
In terms of premiums, the 10-year average annual premium^ for G Company’s product is around 1.37 times higher than Bowtie’s Term CI Early Stage and Multiple Cover ; while O Company’s 10-year average annual premium^ is lower than G Company’s, but still several hundred dollars more expensive than Bowtie’s Term CI Early Stage and Multiple Cover.
Regarding coverage, note that O Company’s product has certain limitations; even with “multiple coverage” features, it still doesn’t cover “recurrence situations.”
According to the policy details, “If the insured is diagnosed with a critical illness or undergoes critical illness surgery, and we have already paid a critical illness claim or multiple critical illness claim for that illness or surgery, then the multiple critical illness coverage will no longer apply to that illness or surgery.” This means that if the same disease recurs, or the insured needs the same surgery, multiple claims won’t be available. Furthermore, the multiple claim coverage amount for this product is only set at 80% of the sum assured, meaning that to get adequate protection, the insured might need to opt for a larger sum assured when purchasing.
Looking at these similar consumption-type critical illness products, Bowtie Term CI Early Stage and Multiple Cover provides coverage at the lowest price for three major critical illness recurrences, with a claim limit of up to 5 times.
✨Unique Advantage 2: Coverage for Early Critical Illness, Up to 120% Payout Each Time
Besides the critical illnesses commonly recognized, early critical illnesses (such as carcinoma in situ and angioplasty surgery) 1 are becoming increasingly common. Although they have a lower fatality rate, patients still need ongoing medication and check-ups after treatment, which could affect their work and income, so critical illness coverage is equally important.
While many critical illness plans on the market offer coverage for early critical illnesses , it’s often in a “pre-payment” form, meaning the insurer pays out 20% of the sum assured for early critical illnesses, and if the policyholder later develops a severe critical illness, the remaining 80% is paid.
But Bowtie aims to provide comprehensive coverage, so we designed an “additional payout” mechanism . This means that if the policyholder suffers from an early critical illness, they get 20% of the sum assured first, and if a severe critical illness follows, they still receive 100% payout—adding up to 120%! Plus, early critical illnesses are also eligible for multiple claims, up to 5 times.
✨Unique Advantage 3: Covers Over 98% of Critical Illness Claims
Some might worry that Bowtie Term CI Early Stage and Multiple Cover doesn’t cover enough critical illnesses, since we only include 4 early critical illnesses, 42 critical illnesses, and 4 “additional coverages.” But when it comes to critical illness insurance, it’s not about who covers the most— more isn’t always better !
In fact, Bowtie’s “4+42” coverage already addresses over 98% of critical illness claims#; and our actuarial team believes that the 4 “additional coverages” for terminal illness, permanent total disability, inability to live independently, and major medical conditions can handle special and rare fatal diseases.
By cutting out “unnecessary” coverages, we keep premiums more affordable, so Bowtie Term CI Early Stage and Multiple Cover ‘s 10-year average annual premium^ can be lower than similar products.
✨Unique Advantage 4: No Savings Component, Easy and Flexible Cancellation
Beyond the premiums and coverage benefits, Bowtie Term CI Early Stage and Multiple Cover has no savings component, making monthly premiums up to 11 times lower 2 than market savings-type critical illness products, and much easier to afford. Bowtie’s products are always paid monthly with no strings attached, so you can cancel freely with just 30 working days’ notice.
If the policyholder unfortunately develops a serious illness and has to stop working, they’ll lose income, and the point of critical illness insurance is to cover living expenses then, ensuring their quality of life doesn’t drop due to lost earnings.
Bowtie believes not everyone needs critical illness insurance at every stage, like retirees. After retirement, without income, living expenses (excluding medical costs) tend to decrease, so people aged 65 or above might not need it as much. That’s why our monthly premium model lets policyholders adjust their coverage whenever they want.
Real Customer Stories: Why Choose Bowtie Critical Illness Insurance?
Ms. Wong, 33 years old | Clerk
Insured Plan: Term CI
- Why do you need this type of insurance?
I’m particularly worried about the three major critical illnesses: cancer, stroke, and heart disease. If I were to get one of them, I’d have the funds to cover daily living expenses for my family and myself.
- Why did you choose Bowtie?
I really dislike agents pushing high-commission plans that don’t suit me. Bowtie has no agents, so I can take my time to review the information and pick a plan that’s just right for me.
Jessica Lee, 28 years old | Nurse
Insured Plan: Term CI Multiple Cover
- Why do you need this type of insurance?
In case something happens, like a stroke or cancer, critical illness insurance can provide enough living expenses to cover daily costs and maintain my quality of life.
- Why did you choose Bowtie?
Bowtie has customer service that handles all policy issues, so I don’t worry about agents dropping the ball and leaving me hanging. Contacting Bowtie CS is super convenient—they respond quickly, and every representative is professional, following up thoroughly and answering my questions in detail.
Mr. Sit, 41 years old | Civil Servant
Insured Plan: Bowtie VHIS Standard, Term CI Multiple Cover
- Why do you need this type of insurance?
Because private hospital care is generally better quality, and critical illness treatments can be extremely expensive, so insurance is essential for unexpected situations.
- Why did you choose Bowtie?
The premiums are more affordable, and applying online is straightforward and easy to manage.
Grab a critical illness insurance right now for yourself or your loved ones—it covers relapse and offers reasonable premiums!
Bowtie Critical Illness Insurance Premium Calculator
- * Critical illness relapse rate data comes from a reinsurer’s major diseases survey conducted in Asia from 2008-2012 and Bowtie market survey results.
- ^ Based on 10Life data calculations, assuming the policyholder is a 30-year-old non-smoking male with HK$1,000,000 coverage.
- # According to a reinsurer’s major diseases survey conducted in Asia from 2008-2012, cancer, coronary artery bypass surgery, heart disease, other serious coronary artery diseases, stroke, benign brain tumors, and kidney failure account for about 97% of critical illness claims among Hong Kong women. The remaining data is from Bowtie-collected public sources and derived through mathematical calculations, for general educational and reference purposes only.
- 1 Statistics show: As of 2020, the incidence rate of breast carcinoma in situ for women aged 45 to 49 is as high as 36.2% (per 100,000 female population), and there’s been a nearly 40% surge in coronary heart disease patients aged 40 to 50; when cardiovascular narrowing reaches a certain level, patients may likely need a stent procedure.
- 2 Based on standard monthly premiums for a 35-year-old non-smoking male insuring “Bowtie Early Stage and Multiple Critical Illness Cover” with HK$1,000,000 coverage; for savings-type critical illness insurance: Data represents the average of standard premiums from 6 savings critical illness plans (with 18-20 year premium payment periods) available in the market as of March 10, 2022.
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