Latest News
Our Promotion

Feb

2020

Well Link Life Launches "Well Protect VHIS Series"

Well Link Life Adds “Tax Deductible” Product Offering

Brand New Well Protect VHIS Series

Help Customers Protect Their Well-being

Additional benefits in response to coronavirus infection

 

6 February 2020, Hong Kong - Well Link Life Insurance Company Limited (“Well Link Life”) announced today the launch of brand new Well Protect VHIS Series, namely, Well Protect Voluntary Health Insurance Scheme (Standard) (‘Well Protect VHIS (Standard)’) and Well Protect Voluntary Health Insurance Scheme (Flexi) (‘Well Protect VHIS (Flexi)’). These represent the insurer’s first certified Standard and Flexi plans under the Government’s Voluntary Health Insurance Scheme (“VHIS”). The Well Protect VHIS Series cover all-round services and offer customers the freedom to choose the most suitable benefits for themselves across different life stages. The premium paid can apply for tax deduction. Together with the “Well Enjoy Deferred Annuity Plan (Select)” launched earlier, the new Well Protect VHIS Series completes Well Link Life’s tax deductible product offerings.

 

 “Well Protect VHIS (Standard)” and “Well Protect VHIS (Flexi)” are designed to help customers protect their physical well-being by providing a comprehensive medical care solution covering a wide variety of medical treatment expenses, empowering customers to select their preferred treatment option for a full and swift recovery. Features include coverage for unknown pre-existing conditions, guaranteed renewability up to age 100, no lifetime benefit limit, and tax deductions for premiums paid. Furthermore, during the period of wide spread of novel coronavirus, Well Link Life has introduced additional benefits to the Well Protect VHIS Series to protect customers from any losses related to Novel Coronavirus (2019-nCoV).

 

The “Well Protect VHIS (Flexi)” offers a choice of three levels of ward classes (Ward, Semi-Private Room and Standard Private Room). It reimburses eligible medical expenses arising from hospital and surgical treatments. The benefit limit of specialist’s fee, intensive care, surgeon’s fee, as well as supplementary major medical coverage for Semi-private Room and Standard Private Room ward classes are relatively higher than similar products in the market. “Well Protect VHIS (Flexi)” also provides coverage on post-confinement home nursing expenses for a speedy recovery after discharge.

 

Mr Thomas Lee, Chief Executive Officer of Well Link Life said, “Well Link Life is proud to introduce our new Well Protect VHIS Series specifically designed for customers seeking comprehensive, quality and flexible medical cover. Critical illness or injury often occurs suddenly and without warning, leaving people unprepared for the costs associated with treatment and recovery. Amidst an aging population, rising medical costs, and growing demand for healthcare services, the market needs genuinely flexible medical coverage to help customers protect both their physical as well as financial well-being. Our brand-new Well Protect VHIS Series addresses this need.”

 

Key features of “Well Protect Voluntary Health Insurance Scheme (Standard)” include1:

Guaranteed renewability up to age 100

• Offers guaranteed yearly renewal, up to age 100.

 

No lifetime benefit limit

• The maximum of annual benefit is HKD420,000. There is no lifetime benefit limit and the limit will be restored every policy year.

 

Coverage for unknown pre-existing conditions

• Reimburses the medical expenses arising from unknown pre-existing conditions according to the following schedule: 25 percent reimbursement for the second policy year; 50 percent reimbursement for the third policy year and full coverage of 100 percent reimbursement from the fourth year on.

 

Tax deduction for premiums paid2

• The tax deduction is up to HK$8,000 per insured person in each assessment year.

 

Key Features of “Well Protect Voluntary Health Insurance Scheme (Flexi)” include1 :

 

Guaranteed renewability up to age 100

• Offers guaranteed yearly renewable, up to age 100.

 

No lifetime benefit limit

• No lifetime benefit limit and the limit will be restored every policy year.

 

Covers unknown pre-existing conditions

• Reimburses the medical expenses arising from unknown pre-existing conditions according to the following schedule: 25 percent reimbursement for the second policy year; 50 percent reimbursement for the third policy year and full coverage of 100 percent reimbursement from the fourth year on.

 

Tax deduction for premiums paid2

• The tax deduction is up to HKD8,000 per insured person in each assessment year.

 

Choice of ward classes

• Three ward classes enabling customers to choose the ward class which best suits their needs and budget.

 

Additional extended benefits

• Provides extended benefits to broaden the safety net, including supplementary major medical, emergency outpatient treatment (accident only), outpatient kidney dialysis, post-confinement home nursing and cash benefit for day case procedure, etc.

 

* To understand more about the above plans, please visit www.wli.com.hk

 

From now till 31 March 2020, customers who successfully enrol for Well Protect Voluntary Health Insurance Scheme (Standard) and Well Protect Voluntary Health Insurance Scheme (Flexi) can enjoy 20% annual premium discount, up to two years. Customers who apply for Well Enjoy Deferred Annuity Plan (Select) will also enjoy 4% premium discount for the first year. Terms and conditions apply.

 

Well Protect VHIS Series – Additional Benefits covering Novel Coronavirus3

To protect customers from Novel Coronavirus, Well Link Life has introduced additional benefits to its Well Protect VHIS Series. Valid from now till 30 April 2020, customers holding in-force policies of Well Protect VHIS Series enjoy the follow coverages:

1. If insured person is unfortunately diagnosed with the ‘Novel Coronavirus’ and is confined to hospital, we will provide an additional Daily Hospital Cash of HKD800 per day during hospital stay of up to 45 days.

2. If insured person is quarantined due to the ‘Novel Coronavirus’, we will provide a onetime Quarantined Benefit of HKD4,000.

3. If insured person undergoes chest X-ray or lung / chest computed tomography (‘CT’ scan) as referred by a Registered Medical Practitioner due to respiratory diseases of which ‘Novel Coronavirus’ is suspected, we will fully reimburse this expense.

 

About Well Link Life

Well Link Life Insurance Company Limited (“Well Link Life”) is a wholly-owned subsidiary of Well Link Insurance Group Holdings Limited (“Well Link Insurance Group”). The Group’s other subsidiary, Well Link General Insurance Company Limited (“Well Link General Insurance”), provides general insurance products and services to individual and commercial customers in Hong Kong.


In April 2019, Well Link Life was authorised by the Hong Kong Insurance Authority to operate long-term insurance business in Hong Kong. Rooted in Hong Kong, Well Link Life will actively develop innovative savings and life protection insurance products to meet customers’ everchanging needs. These solutions are supported by excellent customer services, advanced technology, enhanced sales processes and after-sales support to help customers achieve happier and more fulfilling lives.

 

Media Enquiry:

David Chau                                                 Acky Yau

9388 4997                                                  2830 7571

sc.chau@wli.com.hk                                  acky.yau@wli.com.hk

 

 

1 The content contains general information for reference only and does not form part of the policy. Please refer to the official documents for coverage, details and policy terms and conditions.

2 Policyholders may apply for a tax deduction on premiums paid to the “Well Protect VHIS Standard Plan” and “Well Protect VHIS Flexi Plan” under the “Inland Revenue Ordinance” (Cap. 112). For details of the tax deduction, please visit the official website of Inland Revenue Department: www.ird.gov.hk or seek independent tax advice.

3 The content contains general information for reference only and does not form part of the policy. Please refer to the official documents for coverage, details and terms and conditions.


Back