10Life Term Life Critical Illness Scoring Methodology

1. Overview

Cancer Coverage

Based on the coverage and terms under cancer.

Heart Disease Coverage

Based on the coverage and terms under heart diseases.

Stroke Coverage

Based on the coverage and terms under stroke.

Other Critical Illness Coverage

Based on the coverage scope of other major diseases beyond cancer, heart disease and stroke.

General Terms

Based on general terms including death benefit upon critical illness and multiple coverage.

2. Score Weighting

3. Assumptions

Male or female life insured age 25/30/35/40/45, non-smoker
Sum assured HKD1,000,000/500,000
10 years coverage period

4. Cancer Coverage Score Details

The Cancer Coverage Score is calculated based on the scope and definition of cancer coverage, where points are deducted for the following unfavourable terms relative to the market:

Vague exclusion on Cancer - “Non-life threatening cancers”
Exclusion on any top 10 common cancers¹(including colorectum cancer, lung cancer, breast cancer, prostate cancer, liver cancer, stomach cancer, non-melanoma skin cancer, corpus uteri cancer, non-hodgkin lymphoma cancer and thyroid cancer)
Exclusion/ low coverage on carcinoma-in-situ (CIS)

5. Heart Disease Coverage Score Details

The Heart Disease Coverage Score is calculated based on the scope and definition of heart disease coverage, where points are deducted for the following unfavourable terms relative to the market:

Exclusion on heart diseases other than heart attack
Coronary Artery Disease not defined as part of Heart Disease (with only specified surgeries / procedures defined)
Exclusion / low coverage on angioplasty

6. Stroke Coverage Score Details

The Stroke Coverage Score is calculated based on the scope and definition of stroke coverage, where points are deducted for the following unfavourable terms relative to the market:

Exclusion on accidents, trauma or traumatic injury induced stroke
Exclusion on migraine induced stroke
Exclusion on vasculitis or infection induced stroke

7. Other Critical Illness (“CI”) Coverage Score Details

The Other CI Coverage Score measures the coverage scope of other major diseases beyond cancer, heart disease and stroke. The coverage scope is benchmarked against an international standard, Critical Illness Framework 2019 from Life Insurance Association Singapore, which includes a list of 37 major diseases². Points are deducted for products that do not cover any of the 31 other major diseases (excluding cancer, heart disease, stroke, coronary artery by-pass surgery, angioplasty and other surgery for coronary artery disease) in the standard.

8. General Terms Score Details

The General Terms Score is calculated based on terms and policy provisions, there may be terms and conditions that can be unfavourable to the policyholder during a claim. Points are deducted based on the following term(s):

Required survival period after diagnosis
No multiple CI benefits
Deduction from major payout after early-stage payout

9. Term CI Insurance 5-Star Rating

10Life Term CI Insurance 5-Star Rating is awarded to the top products in the market.

To earn a 5-Star Rating, the product must achieve a 10Life Rating of 9.5 or above.

Notes:

Top 10 Cancer (Hong Kong) (Link)

Updated on 31 Oct, 2022

Disclaimer

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Term Critical Illness Insurance Scoring Methodology