YF Life Launches Tax Deductible VHIS TaxVantage Prestige Medical Plan

Lifetime Medical Protection Up to HK$40,000,000 Insured with a Deferred Annuity Plan at the same time and Enjoy Up to 6 Months Annualized Premium Discount

March 4, 2022

Tax-deductible Voluntary Health Insurance Scheme (VHIS) plans from YF Life Insurance International Ltd. (YF Life) continue to receive popular acclaim from customers. To provide more comprehensive choices of VHIS plan, YF Life has announced the launch of its TaxVantage Prestige Medical Plan. The plan provides full reimbursement of the actual expenses incurred before, during, and after in-hospital non-emergency treatment throughout Asia and emergency treatment worldwide, without any limit on individual benefit items. It also provides for hospital stays in a standard semi-private room or standard private room (depending on confinement location), full cover of non-surgical cancer treatments, and extended benefits during hospitalization and beyond.

Ms. Jasmine Hui, Head of Product Strategy and Pricing, at YF Life, said, “Due to strong demand and limited supply, there is an acute shortage of in-patient beds in public hospitals, while the waiting time in specialist out-patient clinics tends to be very long. According to statistics from the Hospital Authority, the median waiting times for ‘urgent’ and ‘semi-urgent’ cases are two weeks and eight weeks respectively, while the average median waiting time for ‘stable’ cases is approximately 47 weeks. Obviously, in the unfortunate event of an accident or an illness, patients would hope to receive appropriate treatment promptly to prevent further deterioration in their condition. At YF Life, we believe ‘health is wealth’. That’s why we have rolled out the TaxVantage Prestige Medical Plan, offering lifetime medical protection of up to HK$40,000,000 with full reimbursement of the actual expenses incurred before, during, and after in-hospital treatment. The plan also covers unknown pre-existing conditions without any waiting period. Customers can enjoy not only a tax deduction, but also a ‘no claim premium discount’ of up to 15% upon paying the renewal premium, provided that the policy has been in force, and no claims have been made, for at least three consecutive years. With the comprehensive coverage of our TaxVantage Prestige Medical Plan, customers can now ‘own the future’ with more confidence.”

The TaxVantage Prestige Medical Plan is a Certified Flexi Plan under the VHIS scheme. The plan offers extensive coverage and four annual deductible options, including HK$0, HK$15,000, HK$30,000, and HK$100,000. The higher the deductible, the lower the premium, which flexibly suits the different needs of customers. The plan provides guaranteed renewal up to the age of 100. At the same time, customers are entitled to receive a free estimate of the claimable amount and a range of additional support services, including Worldwide Emergency Assistance Benefits, Cashless Hospitalization Service, and MediCare Concierge Services, among others.

From now until March 31, successful applicants for a VHIS plan from YF Life, including TaxVantage Prestige Medical Plan, TaxVantage Plus Medical Plan, or the TaxVantage Medical Plan, may enjoy a three-month premium discount in the first year. If they also successfully enroll in a tax-deductible MY Deferred Annuity, the enrolled VHIS insured may also enjoy an additional three-month premium discount for the following year, making a total of up to six months of annualized premium discount.

YF Life Insurance International Limited is a member of publicly listed Yunfeng Financial Group Limited, whose major shareholders include Yunfeng Financial Holdings Limited¹ and Massachusetts Mutual Life Insurance Company¹, one of the “Five Largest US Mutual Life Insurance Companies”². Leveraging our robust financial background and solid reliability, YF Life is committed to helping customers “own the future” by providing professional and technology-enhanced one-stop risk- and wealth-management consulting services, as well as MPF services.

Notes:

1.    Yunfeng Financial Holdings Limited and Massachusetts Mutual Life Insurance Company have an indirect shareholding in Yunfeng Financial Group Limited.
2.    The “Five Largest US Mutual Life Insurance Companies” is ranked according to the results of “Insurance: Life, Health (Mutual)” on total revenues for 2020, and based on the FORTUNE 500 as published on June 1, 2021.