Author
Bowtie Team
Updated on
2025-07-21
Disclaimer: This article is translated with the assistance of AI.
Term life insurance skips the savings element, delivering pure life protection that lets you secure massive coverage with surprisingly low premiums. Many options even allow easy online applications. But there’s one common drawback that prompted Bowtie to lead the upgrade charge.
The ‘Weakness’ of Term Life Insurance
Term life insurance is affordable and its benefits are becoming widely known. However, for high-income individuals, the coverage amount (payout) of online term life insurance is often capped at a few million dollars, which isn’t enough to maintain their family’s original lifestyle. Our client Mr. Lee (pseudonym) is one such person.
The Customer’s Concerns
35-year-old Mr. Lee is a high-income earner who needs to pay his mortgage and support his wife and child. He wanted to get a HK$12 million term life policy, but due to the coverage limits of online term life insurance, securing over HK$10 million meant applying to two different insurers – a real hassle.
Bowtie Partners with Reinsurers for HK$20M Coverage
Bowtie’s mission is to fill protection gaps for everyday people, and Mr. Lee’s feedback was spot on and constructive. So, we acted quickly and partnered with two multinational reinsurers to boost the maximum coverage to HK$20,000,000.
Starting now, if clients feel the standard coverage amount (non-medical limit, see table below) doesn’t meet their needs, they can get up to HK$20,000,000 after financial underwriting and a medical check .
| Age | Maximum Standard Coverage Amount (Non-Medical Limit) |
| 18 – 45 years old | $8,000,000 |
| 46 – 55 years old | $4,000,000 |
| 56 – 60 years old | $3,500,000 |
| 61 – 65 years old | $1,000,000 |
Financial Underwriting Tips: Max Coverage Guide
Term life insurance payouts compensate for income loss upon the insured’s passing. During financial underwriting, Bowtie considers the insured’s work income (including salary, bonuses, commissions) and age (see table below) to determine the maximum standard coverage amount (post-medical limit). Other income like dividends or rent isn’t affected by death, so it’s not factored in.
| Age | Maximum Standard Coverage Amount (Post-Medical Limit) |
| 18-45 years old | 30 times work income |
| 46-55 years old | 20 times work income |
| 56-60 years old | 15 times work income |
| 61-65 years old | 10 times work income |
Note that this is a rough calculation method. If you need higher coverage for special reasons, feel free to let us know . If justified, Bowtie will handle it with discretion.
Bowtie Offers Highest Coverage Amongst Online Term Life Insurers
Bowtie Term Life provides up to HK$20,000,000 in life coverage, which is the highest among all term life insurance products that can be purchased online. However, the HK$20,000,000 life coverage is not just a marketing gimmick. Bowtie’s product philosophy is “Just Right is the Best”, and we sincerely hope to help consumers, especially young families with children and those approaching retirement . Even if they unfortunately pass away in the future, their loved ones, amidst grief, at least won’t have to worry about financial burdens.
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