AXA Launches "MediEnhancer Supplement"
- Written by: Daily Bulletin
- Published in News from Asia
Offers Up to 4% p.a. Guaranteed Returns Helping Customers To Cope With Medical Inflation
HONG KONG SAR - Media OutReach - 3 October 2022 - AXA Hong Kong and Macau (AXA) today announced the launch of "MediEnhancer Supplement" ("MediEnhancer"). "MediEnhancer" is offered exclusively to customers with qualified AXA medical insurance policies[1]. With its up to 4% p.a. guaranteed crediting interest rate, it carries a cash value which will be used to offset the annual premium of the qualified AXA medical insurance policy associated with "MediEnhancer", relieving the pressure of medical inflation for customers.
"MediEnhancer" offers two notional amount options[2]. Customers may choose a notional amount2 based on 3 times or 5 times the annual premium of the associated medical plan according to their financial planning needs. The cash value of "MediEnhancer" at its effective date will be equal to notional amount of "MediEnhancer". After "MediEnhancer" becomes effective and more interest is accrued, the cash value of "MediEnhancer" will be used to pay for the annual premium of the associated medical plan on its next policy anniversary[3], saving customers the hassle of paying premiums of their plans. For customers prepaying a premium for the 2nd supplement year, their prepaid amount will be further entitled to guaranteed preferential interest at a rate of 4% p.a. for USD policies or 3.5% p.a. for HKD policies during the 1st supplement year.
According to the recent announcement of the Health Bureau, the number of Voluntary Health Insurance Scheme (VHIS) policies has exceeded 1 million since its implementation[4] in 2019. About a quarter of VHIS policy holders[5] were AXA customers, demonstrating that AXA's VHIS products are well received by the public.
Kevin Chor, Chief Life and Health Insurance Officer of AXA Hong Kong and Macau, said, "We are commited to listening to our customers and catering their needs. We understand that rising medical costs is their key consideration for renewing their medical insurance policies. With this in mind, we have designed 'MediEnhancer' to help customers cope with medical inflation by providing up to 4% p.a. guaranteed returns, and offering hospital income benefit for a maximum of 1,000 days[6] per confinement, aiming to reduce the inpatient medical expenses of our customers, and strive to be a solid backing for customers."
During the promotion period, customers who successfully apply "MediEnhancer" together with AXA WiseGuard Pro Medical Insurance Plan can enjoy up to 6 month's premium refund. For existing customers with designated AXA medical insurance plans who successfully apply for "MediEnhancer", they will be entitled to a 2-month premium rebate for their existing policies[7].
For more information about "MediEnhancer", please visit: https://www.axa.com.hk/en/medical-insurance-medienhancer-campaign
The above information is for reference only. For details on product features, content, terms and exclusions, please refer to the product brochure and policy provision.
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About AXA Hong Kong and Macau
AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 50 markets and serving 95 million customers worldwide. Our purpose is to act for human progress by protecting what matters.
As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.
We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the importance of mental health through different products and services such as offering free mindfulness practice resources through Mind Charger which is fully accessible to our customers and the public via our holistic wellness platform AXA BetterMe.
THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK
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