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A Pure Critical Illness Protection
Covering your living expenses when you’re sick

We started accepting change of residency requests without policy termination to all Bowtie individual insurance plans in any countries/ regions except for those subject to sanction restrictions. Please refer to the following blog post for more details. If there are any enquiries,  please contact our customer service team at 3008-8123.

Plan features

No savings component 
Lower premiums and greater flexibility

No strings attached, monthly payment

Here at Bowtie, your freedom and flexibility is one of our top priorities. Bowtie Term Critical Illness Insurance adopts a monthly premium payment method, allowing pure critical illness protection with maximized flexibility. The policy may be terminated at anytime with no dditional handling fee.
On average it takes about 45 years7 for a Savings Critical Illness Insurance Plan to breakeven, i.e. the Guaranteed Cash Value exceeds the Total Premium Paid. You would risk receiving a Cash Value much lower than the Total Premium Paid if you terminate the Plan prior to the end of the payment period. In other words, it is as though you are handcuffed to the Plan! 

Here at Bowtie, your freedom and flexibility is one of our top priorities. Bowtie Term Critical Illness Insurance adopts a monthly premium payment method, allowing pure critical illness protection with maximized liquidity. The policy may be terminated anytime with no monetary loss.On average it takes about 45 years7for Savings Critical Illness Insurance to breakeven, i.e. the Guaranteed Cash Value exceeds the Total Premium Paid. You would also risk receiving a Cash Value much lower than the Total Premium Paid if you terminated the Plan prior to the end of payment period. In other words, it is as though you are handcuffed to the Plan!

Premiums are up to 19 times cheaper than that for Savings Critical Illness Insurance Plans

Bowtie Term Critical Illness Insurance does not carry any savings component. For the same coverage amount, our premium is 19 times lower than that of general savings critical illness insurance products in the market.1

Want to be privy to future premiums?

Covers common critical illnesses and serious injuries or conditions without prior cases

You might find some insurance plans covering as much as 70 types of critical illnesses, with most of them being rare diseases. Not only does the inclusion of such an extensive list increase the complexity of the product, the policy premium might also increase because of that.

4
Supplementary
Coverages
38
Critical
Illnesses
38 Major critical illnesses, over 98% coverage^
Including 7 major illnesses^: Cancer, Coronary Artery By-Pass Grafts, Heart Attack, Other Serious Coronary Artery Disease, Stroke, Benign Brain Tumour and Kidney Failure. 
Is Carcinoma in situ covered?
4 Serious conditions to cover illnesses without prior cases
・Terminal Illness
・Total Permanent Disability2

・Loss of Independent Existence3
・Major Medical Treatment4

Multiple payouts, 100% of Sum Insured each time

Since around 90% of critical illness claims involveCancer, Stroke, and Heart Attack, we offer multiple cover for these three major critical illnesses*. Each of the other 35 covered critical illnesses can be claimed once, up to a total of 5 times, and each claim is invariably 100% of the Sum Insured.
(Only for Bowtie Term Critical Illness - Multiple Cover)
Check out the examples →
*Claims for the Multiple Cover Benefit on Cancer (newly diagnosed, recurrent, metastatic or continued cancer diagnosed after the first cancer claim), Stroke, Heart attack, and other heart-related diseases (including coronary artery bypass surgery or other serious coronary artery diseases) are subject to additional requirements, please refer to the policy terms and conditions for details and exclusions.

Why do you need Critical Illness  insurance?

A lump-sum will be paid out to you upon diagnosis of covered critical illnesses to help cover living expenses during your recovery. 

How much is enough?

Recommended Sum Insured = 2 - 3 times of annual salary

The treatment of critical illnesses usually takes 2-3 years. If you have Bowtie Term Critical Illness - Multiple Cover, you’re guaranteed sufficient protection during the 2-year waiting period. 

Do I still need critical illness insurance after retirement?
After retirement, the loss of income due to critical illness will be greatly reduced, and the efficacy of critical illness insurance will be reduced accordingly. You can adjust the Sum Insured to lower the premium. If you want to still enjoy medical protection after retirement to cover the medical expenses related to a critical illness, you may consider taking out Voluntary Health Insurance Scheme (VHIS) or Cancer Insurance.
Benefit table

Plan

Bowtie Term Critical Illness

Benefit Coverage
Compassionate Death Benefit
Benefit Coverage
38 Critical Illnesses +
4 Supplementary Coverages
100% of Sum Insured, 1 claim in total
Compassionate Death Benefit
5% of Sum Insured

Important product information

Product Category
Critical Illness Insurance Plan – We will pay the Sum Assured in lump sum if the Insured Person is diagnosed with any of the covered Major Critical Illness
Issue Age
15 days – age 65
Minimum Sum Insured
HK$100,000
Maximum Sum Insured
HK$4,000,000 (Issue Age: 15 days - 45 years old)
HK$2,000,000 (Issue Age: 46 - 55 years old)
HK$1,000,000 (Issue Age: 56 - 60 years old)
HK$500,000 (Issue Age: 61 - 65 years old)
Once your insurance is in force, your Sum Insured will remain unchanged. For example, if you insure before the age of 45 with a Sum Insured of HK$4,000,000, up to the age of 85, your Sum Insured will remain to be HK$4,000,000 as you age. If you need to change the Sum Insured, you can notify us at least 30 working days before the next renewal date.
Period of Cover
1 year – Guaranteed annual renewal up to age 85
Waiting Period
90 days
Any illnesses diagnosed or symptoms manifested within the 90-day waiting period from the policy effective date will not be covered.
2 years — Only for Bowtie Term Critical Illness - Multiple Cover
For Multiple Cover Benefit, each claim must be separated by at least 2 years. Except for newly primary, recurrent, metastasised or continued Cancer after the first Cancer claim, any illnesses diagnosed or symptoms manifested during the waiting period will not be covered.
Survival Period
14 days
The Insured Person must survive for at least 14 days after being diagnosed with a critical illness.
Additional requirements for Multiple Cover Benefit
Only for Bowtie Term Critical Illness - Multiple Cover
For Multiple Cover Benefit, the below critical illnesses shall fulfil additional requirement:
Cancer:
  • a subsequent Cancer (any Cancer that has reappeared, metastasised, continued without remission, or a new primary Cancer) following any preceding Cancer claim(s) that we have paid, the Insured Person has received Active Treatment for it in the 12 months immediately prior (except for a new primary cancer).
    Active treatment means Cancer directed surgery, radiotherapy, cytotoxic chemotherapy, targeted therapy or immunotherapy. It does not include any treatment given solely as palliative care or hormonal therapy.
Heart Attack:
  • a subsequent Heart Attack following any preceding Heart Attack claim(s) that we have paid, demonstrates fresh diagnostic findings evidencing occurrence and diagnosis of a new event (E.g. a newly occurred and diagnosed death of a portion of heart muscle). 
Stroke:
  • a subsequent Stroke following any preceding Stroke claim(s) that we have paid, demonstrates fresh diagnostic findings evidencing occurrence and diagnosis of a new event and of new or increased neurological functional impairment (E.g. a newly occurred and diagnosed cerebrovascular accident or incident).
Coronary Artery By-Pass Grafts or Other Serious Coronary Artery Disease
  • If any benefit has already been paid for Heart Attack, we will not pay a Multiple Cover Benefit for any Coronary Artery By-Pass Grafts or Other Serious Coronary Artery Disease.
Renewal
  • Upon renewal, there shall be no re-underwriting. No additional rate of premium loading or case-based exclusions shall be imposed by reason of any change in the Insured Person's health conditions.
  • Upon renewal, we reserve the right to revise Policy Terms and Conditions, including the prevailing standard premium schedule.
Cooling-off Period
21 days
Within the cooling-off period, you may cancel the Plan and receive a full refund of premium
Policy Cancellation
You may request cancellation of the Plan by giving at least 30 days prior notice.
Tax Deduction
N/A

Exclusions

No benefit will be payable under the Plan for Major Critical Illness, Major Surgical Procedure or death caused directly or indirectly, wholly or partly by any of the following events and/or in the following circumstances:
  • Waiting period: the Insured Person dies or suffers from any illness, the sign(s) and/or symptom(s) of, or undergoes a surgery, the cause(s) and/or condition(s) which, are manifested within ninety (90) days following the Policy Effective Date (except for an illness or surgery caused directly by an Accident and diagnosed within ninety (90) days from the date of the Accident);
  • Multiple Cover Benefit Waiting Period (Only for Bowtie Term Critical Illness - Multiple Cover): the Insured Person suffers from any illness (except for Subsequent Cancer), the sign(s) and/or symptom(s) of, or undergoes a surgery, the cause(s) and/or condition(s) which, are manifested within a period of two (2) years following the date when the preceding Major Critical Illness Benefit or Multiple Cover Benefit becomes payable under this Plan;
  • Survival period: the Insured Person fails to survive for at least fourteen (14) days from the date of diagnosis of the Major Critical Illness and/or the completion of the Major Surgical Procedure (except for the Major Medical Treatment (as defined in the Definitions of Major Critical Illnesses and Surgical Procedures), where the fourteen (14) day survival period will commence from the date of discharge from the post-surgical care in the Intensive Care Unit (as defined in the Definitions of Major Critical Illnesses and Surgical Procedures));
  • Pre-existing Condition(s);
  • HIV and AIDS: any illness, disease, ptomaines or infection (except infection which directly results from an accidental cut or wound). This includes infection with any Human Immunodeficiency Virus (HIV) and/or any HIV-related illness including AIDS and/or any mutations, derivations or variations thereof, except for (1) AIDS/HIV due to Blood Transfusion or (2) Occupationally Acquired HIV (as defined in the Definitions of Major Critical Illnesses and Surgical Procedures);
  • Drugs, suicide and illegal activities: (i) dependence, overdose or influence of drugs, alcohol, narcotics or similar drugs or agents; (ii) intentional self-inflicted injuries; (iii) attempted suicide or threatened suicide, while sane or insane; (iv) illegal activity; or (v) violation or attempted violation of the law, or resistance to arrest;
  • Armed forces: participation in any armed force or peacekeeping activities; 
  • Nuclear, biological, and chemical activities: nuclear, biological, and chemical related activities. This includes, but is not limited to, nuclear fission, nuclear fusion, ionizing radiation or contamination by radioactivity from any nuclear fuel, nuclear waste resulting from combustion of nuclear fuels or nuclear weapons, or any act of nuclear, chemical or biological terrorism, including but not limited to the use of nuclear, biological or chemical weapons and agents; or
  • War and terrorism: revolutions and war (declared or undeclared), or acts of terrorism.
No Multiple Cover benefit will be payable under the Plan for Major Critical Illness, Major Surgical Procedure caused directly or indirectly, wholly or partly, by any of the following events; and/or in the following circumstances:
  • the same Major Critical Illness or Major Surgical Procedure for which a Major Critical Illness Benefit or Multiple Cover Benefit has already been paid (except for Heart Attack, Stroke and Cancer);
  • a Major Critical Illness or Major Surgical Procedure which, in our opinion (as confirmed by a Registered Medical Specialist acceptable to us):
  • is a complication of;
  • arises in connection with;
  • results from; or
  • is a treatment for a condition for which a Major Critical Illness Benefit or Multiple Cover Benefit has already been paid (except for Subsequent Cancer);
  • any Coronary Artery By-Pass Grafts or Other Serious Coronary Artery Disease, if Major Critical Illness Benefit or Multiple Cover Benefit has already been paid for Heart Attack;
  • any Major Critical Illness (except for Subsequent Cancer) or Major Surgical Procedure that occurred or was diagnosed during the Multiple Cover Benefit Waiting Period.
The information on the page is for reference only, please refer to the full and detailed policy Terms and Conditions.

Comparing Bowtie’s pure critical illness insurance
with other critical illness plans

Bowtie Term Critical Illness - Multiple Cover
$
187
Average Monthly Premium5
A total of 5 claims, 100% Sum Insured each time
Cancer, Heart Attack, and Stroke can be claimed multiple times; other covered illnesses can be claimed once
Savings and Returns
No savings component
Pure critical illness insurance
Premium Paying Term
Monthly payment, surrender anytime
Policy Coverage Period
1 year
Guaranteed automatic renewal each year up to age 85
Other Companies
Other Term Critical Illness Insurance
~
$
280
Average Monthly Premium5
Typically, 1-2 claims, 100% Sum Insured each time
Specific covered illnesses can be claimed twice
Savings and Returns
No savings component
Pure critical illness insurance
Premium Paying Term
Monthly payment, surrender anytime
Policy Coverage Period
Typically, 1, 5 or 10 years
Automatic renewal after the end of each policy coverage period
Other Companies
Regular Savings Critical Illness Insurance
~
$
2700
Average Monthly Premium5
Typically, 5 claims, 100%  Sum Insured each time
Cancer, Heart Attack, and Stroke can be claimed multiple times6
Savings and Returns
Contains savings component
Average guaranteed return over 30 years is approximately -0.87% per annum7
Premium Paying Term
Limited-pay i.e. all premiums must be paid within a certain period(For example within 10 years, 15 years or 20 years)
Policy Coverage Period
Whole life (up to age100)

Frequently Asked Questions

Can I purchase more than one Critical Illness Insurance Plan?

You can purchase more than one Critical Illness Insurance Plan at Bowtie, including Bowtie Term Critical Illness and Bowtie Term Critical Illness - Multiple Cover, and submit a claim for each policy if you are diagnosed with a critical illness. Bowtie imposes a limit on the total Sum Insured to each Insured Person only. Whether you are entitled to purchase two or more critical illness insurance policies from other insurance companies depends on the individual company policy.

What is the normal sum insured for a Critical Illness insurance plan?

Term Critical Illness insurance on the market typically covers $100,000 to $2.5 million. Bowtie provides an insurance coverage of $100,000 to $4 million for the life insured depending on their needs.

Is there a waiting period for Bowtie Term Critical Illness Insurance Plan?

Yes, there is a 90 days waiting period following the Policy Effective Date. No benefit will be payable if the Insured Person suffers from any illness the sign(s) and/or symptom(s) of which are manifested within this period.

Does Bowtie Term Critical Illness Insurance cover Carcinoma-in-situ (CIS)?

Carcinoma-in-situ (CIS), also known as Stage 0 Cancer, refers to histologically proven, localized pre-invasion lesion where cancer cells have not yet penetrated the basement membrane or invaded the surrounding tissues or stroma. The impact of CIS to the Insured’s everyday life is limited, and hence it is not covered under Bowtie Term Critical Illness Insurance. Our Cancer Fighter can be your first line of defence in providing reimbursement benefits to pay for the costs from all diagnosis and medical treatments. Our Bowtie Term Critical Illness Insurance can be the second line of defence in case the CIS progresses to later stages or even metastasizes to other organs, with the lump sum benefit payment acting as an income replacement so that you can focus on your recovery.

I already purchased Bowtie’s VHIS or Cancer Fighter, do I still need Bowtie Term Critical Illness Insurance?

The major function of Bowtie’s VHIS and Cancer Fighter is to offer reimbursement benefits that can cover medical expenses, while Bowtie Term Critical Illness Insurance pays out a lump sum benefit as income replacement during your treatment and recovery period. Customers should choose suitable insurance products based on personal needs and considerations. We recommend a comprehensive coverage by purchasing Bowtie Term Critical Illness Insurance alongside VHIS and Cancer Fighter. In case a critical illness strikes, our products can provide the financial support on both medical and living expenses you need so that you can focus on your treatment and recovery without compromising your living standard.

Does Bowtie Critical Illness provide coverage overseas?

The plan provides worldwide coverage. But both the Policyholder and the Insured Persons must reside in Hong Kong at the time of application. The coverage shall remain effective whether the Insured Persons plan to reside overseas temporarily or permanently. (except for places of residence affected by sanctions or war).

An extra loading might be applied to reflect the higher risks of the relocated countries. If you do not accept the premium adjustment, you can choose not to renew your policy. If the Insured Persons go out of town for travel, studying abroad or work temporarily, No extra premium loading will be applied to policies.

The Policyholder and the Insured Persons should contact Bowtie for any address/location updates. For any enquiries, please contact our customer service team at 3008-8123.

Which of the covered critical illnesses can be claimed more than once under the Multiple Critical Illness Benefit and the Major Critical Illness Benefit?

Only 3 major critical illnesses (Cancer, Heart Attack, and Stroke) can be claimed multiple times under the Multiple Critical Illness Benefit and the Major Critical Illness Benefit. Each of the other 35 covered critical illnesses can only be claimed once under the Multiple Critical Illness Benefit or the Major Critical Illness Benefit.

How many critical illnesses are covered under the Multiple Critical Illness Benefit? Are there any additional requirements for the covered critical illnesses?

Multiple Critical Illness Benefit covers three major critical illnesses (Cancer, Heart Attack, and Stroke) and 35 other covered critical illnesses. Individual critical illnesses listed below are subject to additional requirements.

Cancer:
・a subsequent Cancer (any Cancer that has reappeared, metastasised, continued without remission, or a new primary Cancer) following any preceding Cancer claim(s) that we have paid, the Insured Person has received Active Treatment for it in the 12 months immediately prior (except for a new primary cancer).

Active treatment means Cancer directed surgery, radiotherapy, cytotoxic chemotherapy, targeted therapy or immunotherapy. It does not include any treatment given solely as palliative care or hormonal therapy.

Heart Attack:
・a subsequent Heart Attack following any preceding Heart Attack claim(s) that we have paid, demonstrates fresh diagnostic findings evidencing occurrence and diagnosis of a new event (E.g. a newly occurred and diagnosed death of a portion of heart muscle).

Stroke:
・a subsequent Stroke following any preceding Stroke claim(s) that we have paid, demonstrates fresh diagnostic findings evidencing occurrence and diagnosis of a new event  (E.g. a newly occurred and diagnosed cerebrovascular accident or incident).and of new or increased neurological functional impairment.

Coronary Artery By-Pass Grafts or Other Serious Coronary Artery Disease:
・If Major Critical Illness Benefit or Multiple Cover Benefit has already been paid for Heart Attack, we will not pay a Multiple Cover Benefit for any Coronary Artery By-Pass Grafts or Other Serious Coronary Artery Disease

If you are in doubt as to whether a particular critical illness is eligible for a claim, please check with a registered medical specialist. However, Bowtie has the right to refer any dispute to our medical advisor and/or a Registered Medical Specialist appointed by us at our reasonable discretion for determination which shall be final.

If I am diagnosed with a critical illness, how long does it take before I can make another claim?

Multiple Cover Benefit has a 2-year waiting period. Starting from the date of diagnosis of the last claim, only major critical illness diagnosed or major surgical procedure performed after 2 years will be eligible for claim (except for newly primary, recurrent, metastasised or continued Cancer after the first Cancer claim, where it exists within the waiting period, will be eligible for claim after the 2-year waiting period).

Will Bowtie pay the benefits to the insured or the policyholder?

Benefits for Major Critical Illness Benefit and Multiple Cover Benefit will be paid directly to the policyholder. The Compassionate Death Benefit will be paid to the beneficiary.

How can I increase or decrease the Sum Insured?

If you would like to change the Sum Insured, you can notify us at least 30 working days before the next renewal date. 

If you request to decrease the Sum Insured, we will typically fulfill your request. 

If you request to increase the Sum Insured and we consider that your requested increase is only appropriate with the issuance of a new policy contract, we will generally reject your request and suggest that you apply for a new policy.

Will I lose coverage after age 85?

Bowtie’s Critical Illness Insurance is only renewable up to age 85, as Bowtie’s Critical Illness is designed to cover lost wages from being unable to work while undergoing treatment for a critical illness. After retirement, you will no longer work, and living expenses (excluding medical expenses) will in turn be relatively reduced, so you may not need a lot of money to cope with your daily life. Therefore, there may not be much demand for critical illness insurance after the age of 85. You may consider reducing the Sum Insured after retirement to lower the premium to an affordable level. If you wish to plan for critical illness medical expenses, we recommend that you consider taking out Voluntary Health Insurance Scheme (VHIS).

Does Bowtie Term Critical Illness Insurance have a cooling-off period?

Bowtie Term Critical Illness Insurance has a cooling off period of 21 days. If you cancel the policy during the cooling-off period, we will refund all premiums previously paid.

Do I need to undergo a medical examination when applying for Bowtie’s critical illness coverage?

That is not necessary. To apply, you only need to answer 6 underwriting questions about your health status, and you will obtain the underwriting results in as little time as 4 minutes. Start the underwriting process now!

What documents do I need to prepare when applying for Bowtie Term Critical Illness Insurance?

Customer only needs to prepare their identification document and credit card to start the application process.

Remarks:
Bowtie Life Insurance Co. Ltd (“The Company”,”Bowtie”) is a limited liability company incorporated in Hong Kong.  Bowtie Critical Illness Insurance and Bowtie Term Critical Illness - Multiple Cover are underwritten by our company and only intended for sale in Hong Kong. For detailed terms and conditions of the product, please refer to the policy.

^According to a Major Critical Illness Survey carried out in Asia during 2008-2012 by a Reinsurance company, 97% of Female Critical Illness claims in Hong Kong consisted of Cancer, Coronary Artery By-Pass Grafts, Heart Attack, other serious Coronary Artery disease, Stroke, Benign Brain Tumour and Kidney Failure. For the remaining data, Bowtie obtains the information from various public sources and applies mathematical calculations to arrive at the deduction. All information is intended for general education purpose and reference only.

1. Calculated based on the standard premium of a 35-year-old non-smoking male insured with a sum assured of $1 million of Bowtie Term Critical Illness ; Term Critical Illness Insurance: Data is the standard premium of 3 different critical illness insurances in the market on March 10, 2022; Savings Critical Illness Insurance: Data is the standard premium of 6 different critical illness insurances (18-20 years of premium contribution period) in the market on March 10, 2022.
2. The Insured Person’s Age shall be between eighteen (18) and sixty-four (64) at the time of the diagnosis of the Total Permanent Disability.
3. The Insured Person’s Age shall be between five (5) and sixty-four (64) at the time of the diagnosis of the Loss of Independent Existence.
4. The Insured Person’s Age shall be sixty-nine (69) or below at the time of the Major Medical Treatment.
5. Calculated based on the standard premium of a 35-year-old non-smoking male insured with a sum assured of $1 million of Bowtie Term Critical Illness  - Multiple Cover; Term Critical Illness Insurance: Data is the standard premium of 3 different critical illness insurances in the market on March 10, 2022; Savings Critical Illness Insurance: Data is the standard premium of 6 different critical illness insurances (18-20 years of premium contribution period) in the market on March 10, 2022.
6. According to information of Savings Critical Illness Insurance collected in the market on December 7, 2021.
7. Calculated based on the standard premium of a 35-year-old non-smoking male insured with a sum assured of $1 million; the data is the average value of the internal rate of return on the guaranteed cash value of 8 Savings Critical Illness Insurances products (18-20 year premium payment period) in the market on September 1, 2020.