Author Bowtie Team
Updated on 2025-06-12
Disclaimer: This article is translated with the assistance of AI.
Wondering if Bowtie Term Life is worth it? Enjoy top value with coverage up to HK$1 million coverage for under HK$40 premium monthly – plus exclusive perks! Our team breaks it all down for you!
Higher Coverage with the Same Premium as Other Life Products
Bowtie Term Life is a pure life insurance product without any savings component. Under the same premium, Bowtie Term Life provides coverage that is 40 times higher than general savings-type life insurance products . Meanwhile, Bowtie utilizes technology, with no intermediary commission expenses, eliminating unnecessary costs, allowing us to offer higher coverage than traditional insurance companies’ term life insurance products 1 .
- 1 Based on the standard premium for a 35-year-old non-smoking female insuring HK$1 million coverage; Term Life Insurance: Data is the average of standard premiums for term life insurance (20-year coverage period) on the market as of July 1, 2020 (including term life insurance available online and an additional 8 term life insurances); Savings-type Life Insurance: Data is the average of premiums for 8 savings life insurance products (20-year premium payment period) on the market as of July 1, 2020.
Long-Term Premium With Bowtie Saves More!
Bowtie Term Life uses an annual renewal approach, guaranteeing automatic renewal each year , with premiums determined based on the insured’s current age and actual risk, making it fair and straightforward. So, for the same coverage amount, Bowtie Term Life can save you over 28% on premiums compared to similar products on the market 2 .
- 2 Over 20 years, Bowtie Term Life’s total premiums are 28% less than the average total premiums for term life insurance (20-year coverage period) on the market; based on the standard premium for a 35-year-old non-smoking female insuring HK$1 million coverage; data is the average of standard premiums for term life insurance (20-year coverage period) on the market as of July 1, 2020 (including term life insurance available online and an additional 8 term life insurances).
1. ✨ No Savings Component, Easy Policy Surrender
Bowtie Term Life has no savings component, so its premiums are relatively lower compared to other similar products. Plus, it uses a monthly premium payment mode with no binding clauses; if you decide to surrender the policy, you just need to notify us 30 working days in advance. Since the product doesn’t include any savings or investment elements, surrendering won’t lead to any financial loss—for instance, if you’ve paid the premium for the current month, the policy will remain effective until the next month.
The whole point of life insurance is to provide financial support for your family if you’re unfortunately gone due to an accident or illness. That’s why at Bowtie, we believe not everyone needs life insurance at every stage of life. Take retirees, for example—they’re often not supporting others anymore, so passing away might not leave an economic burden, making life insurance unnecessary. That’s where the monthly payment mode shines, letting you adjust your coverage whenever it suits your needs.
2. ✨ Simplified Health Underwriting, All Within 3 Questions
Bowtie Term Life’s Underwriting process is incredibly straightforward, with only 3 health underwriting questions , and it won’t collect excessive data. These 3 underwriting questions are related to life insurance risks, jointly designed by Bowtie and reinsurers, to help Bowtie understand the insured’s past medical history and identify high-risk clients.
The 3 health underwriting questions are as follows:
- Has the insured ever been diagnosed with cancer , heart disease , stroke or progressive neurological disorders?
- In the last 5 years, has the insured been diagnosed with any of the following diseases or conditions? (Including diabetes , high blood pressure requiring medication, cholesterol elevation requiring treatment, asthma , any diseases or problems with the liver, kidneys, or gallbladder, anxiety disorders, panic disorders or depression, attempted suicide, hospitalization for more than 3 days (excluding pregnancy or fractures ))
- Apart from the previous answers, is the insured currently undergoing treatment, waiting for investigation results, or hospitalized/has any symptoms requiring medical attention?
3. ✨ Efficient Financial Underwriting – 2 Questions and You’re Done!
Bowtie’s original intention is to fill the protection gap for the general public, but at the same time, we don’t want everyone to buy unnecessary insurance products. Therefore, we hope to assess clients’ financial needs through the simplest underwriting process , helping them use their money more effectively.
- Does the insured have any life insurance held or applied for with companies other than Bowtie? (Life insurance here includes all life insurance products, such as term life, whole life, or universal life insurance)*
- Please provide the insured’s total income earned in the past 12 months (including commissions and bonuses)
* If yes, the applicant must further provide the total sum assured of life insurance applied for with insurance companies other than Bowtie.
4. ✨ Up to $8M Coverage Without Medical Exam
Many people dread the idea of a medical exam for life insurance, so to save our clients time, Bowtie determines whether the insured needs a medical exam based on age and coverage amount , simplifying the application process. The coverage limits that don’t require a medical exam are as follows:
HK$ 8,000,000 (18 – 45 years old)
HK$ 4,000,000 (46 – 55 years old)
HK$ 3,500,000 (56 – 60 years old)
HK$ 1,000,000 (61 – 65 years old)
For those wanting higher coverage, after underwriting and a physical exam, the maximum can go up to $20 million.
Real Customer Stories – Here’s Why They Chose Bowtie Term Life!
Jessica, 27 | Interior Designer
Plan Purchased:
Bowtie Term Life , Bowtie VHIS Flexi Regular , Cancer Fighter 2M , Touch Wood Protector
Why do you need this type of insurance?
As I get older, I’m worried about potential illnesses or unexpected events, so it’s smart to plan ahead.
Why did you choose Bowtie?
Bowtie’s application process is simple and quick, and I can easily understand all the details and information on the official website without worrying about aggressive sales from insurance agents.
Life insurance can provide financial support for your family and loved ones in case of unfortunate events. Get a quote now!
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