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.
Bowtie Term Life is a term life insurance. As long as you pay your monthly premiums, you will receive the life insurance coverage. In the event that the insured person dies while the plan is in force, we will pay the sum insured as the death benefit to the beneficiary.
*Please note that Bowtie Term Life insurance plan includes a suicide exclusion clause. Click here for a detailed explanation of exclusions.
Provide financial support for your spouse, children and parents
Home mortgage loan- $4.5 million
Spouses and children’s living expenses (3 persons) - $1.8 million
Education fund - $400,000
Funeral cost - $50,000
Rent - $700,000
Spouses and parents’ living expenses (3 persons) - $1.8 million
Funeral cost - $50,000
Parents living expenses (2 persons) - $1.2 million
Car loan- $150,000
Funeral cost - $50,000
Bowtie Term Life provides pure life protection without a savings element. Bowtie offers a 40x coverage amount under the same amount of premium compared to general savings life insurance products in the market.
Monthly premium as low as $24 per every $1 million sum insured
The insurance coverage is automatically renewed every year and the premium is determined according to the actual underlying risk at the attained age, 100% fair pricing
Bowtie saves you 28% on premium under the same amount of coverage, 100% fair pricing.
Death benefit coverage
(100% of sum insured)
If the insured person dies, Bowtie will pay the death benefit to the beneficiary in a lump sum
Minimum Sum insured
Maximum Sum insured
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）
Generally, life insurance could be classified into 2 types - with saving elements and pure protection only. Both provide a lump-sum death benefit to the insured’s beneficiary if the insured is unfortunately dead.
Bowtie suggests one could define his/ her needs of insurance according to their life stages. In simple words, we suggest the breadwinner of the family get insured under a life insurance policy. In case of the insured’s unfortunate death, his/ her beneficiary could receive immediate financial supports to sustain daily living.
Term Life insurances usually provide pure protection. It provides life protection in a specific period while the premium of the insured would be adjusted according to his/ her attained age or during renewal. Whole life insurance usually provides life protection to the insured until he/ she turns 99 or lifetime. Though charged with a level premium, these policies are often with saving elements, hence, the premium is much higher than that of term life insurance.
Term life insurance on the market typically covers $200,000 to $10 million. Bowtie provides an insurance coverage of $200,000 to $8 million for the life insured depending on their needs.
You can purchase more than one life insurance policy from different companies. Whether you are entitled to purchase two or more life insurance policies from the same company depends on the individual company policy. Bowtie only imposes restrictions on the total life sum insured amount of the insured.
Customer only needs to prepare his identification document and credit card to start the application process.
No need. Insured persons only need to answer 3 simple underwriting questions about their health conditions and approval results can be obtained in only a few minutes.
You can add, delete or change beneficiaries at any time during the effective period of the policy.
Bowtie term life 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.
The exclusions for Bowtie term life insurance include deaths caused directly or indirectly by suicide within one calendar year from the Policy Effective Date. Click here for a detailed explanation of exclusions.
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.