What protection do I need?

4 key life stages

3 myths to bust when buying insurance

Myth 1

Myth 1﹕emoji-wow.png
We are a top insurance company so the products must be good! There is no need to compare products.

False! 10Life research shows large variations in coverage and terms across different products. As recommended by regulatory bodies, it is essential to compare and understand the products before you buy. All 10Life Advisors are required to provide you with comprehensive product comparisons to ensure you get the most suitable choices.

Myth 2

Myth 2﹕emoji-fear.png
You should always buy insurance regardless of your budget.

False! Although insurance can be helpful for most people and some insurances are required by law (e.g. 3rd party liability for car or company owners), everyone should understand their insurance needs and affordability. All 10Life Advisors are required to provide an in-depth analysis of your needs and affordability before you make any insurance purchase.   

Myth 3

Myth 3﹕emoji-challenge.png
Our insurance company’s claims process is fast and easy.

False! Insurance companies never talk about claim rejections. Most advisors in the market are trained and paid on sales, with few capabilities to help you manage claims. At 10Life, every claim is handled by a non-sales Claim Advisor, who can help you make appeals if your claim is unfairly rejected. You deserve a fair claim.

10Life tips on buying insurance

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Make sure you can afford it

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Understand the details

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Beware of misleading selling

Young Children

Parents may first consider medical and critical illness protection for their young children. For those planning to send their children to study overseas, they should start education fund accumulation.

 

*Prices shown are in HKD

Basic coverage

Monthly
$695
Up
WhatsApp Enquiry
Medical Insurance

Medical insurance

Ward

Average coverage

100%

Critical Illness

Critical illness insurance

Whole life

Critical illness coverage

$500K

Renewable up to

Age 100

Saving Insurance

Savings insurance

N/A

Middle-class

Monthly
$4,150
Up
WhatsApp Enquiry
Medical Insurance

Medical insurance

Semi-private

Average coverage

100%

Critical Illness

Critical illness insurance

Whole life

Critical illness coverage

$1M

Payment period

25 years

Saving Insurance

Savings insurance (Education)

$600K

Projected return %

!

178%

Payment period

10 years

Target period

18 years

Comprehensive coverage

Monthly
$11,960
Up
WhatsApp Enquiry
Medical Insurance

Medical insurance

Private

Average coverage

100%

Critical Illness

Critical illness insurance

Whole life

Critical illness protection

$2M

Payment period

25 years

Protection up to

Age 100

Saving Insurance

Savings insurance (Education)

$2M

Projected return %

!

163%

Payment period

10 years

Target return period

18 years

Singles

To protect your health while your career development and personal finance are stable, you should consider medical and critical illness insurance. In addition, you may consider savings insurance to accumulate for life goals.

 

*Prices shown are in HKD

Basic coverage

Monthly
$372
Up
WhatsApp Enquiry
Life Protection

Life insurance

Term life

Death benefit

$1M

Renewable up to

Age 100

Medical Insurance

Medical insurance

Ward

Average coverage

100%

Critical Illness

Critical illness insurance

N/A

Saving Insurance

Savings insurance

N/A

Middle-class

Monthly
$5,606
Up
WhatsApp Enquiry
Life Protection

Life insurance

Term life

Death benefit

$5M

Renewable up to

Age 100

Medical Insurance

Medical insurance

Semi-private

Average coverage

100%

Critical Illness

Critical illness insurance

Whole life

Critical illness protection

$1M

Payment period

25 years

Protection up to

Age 100

Saving Insurance

Saving insurance (Retirement)

$2.5M

Projected return %

!

694%

Payment period

10 years

Target return period

!

37 years

Comprehensive coverage

Monthly
$10,012
Up
WhatsApp Enquiry
Life Protection

Life insurance

Term life

Death benefit

$10M

Renewable up to

Age 100

Medical Insurance

Medical insurance

Private

Average coverage

100%

Critical Illness

Critical illness insurance

Whole life

Critical illness coverage

$2M

Payment period

25 years

Protection up to

Age 100

Saving Insurance

Savings insurance (Early retirement)

$2M

Projected Return %

!

696%

Payment period

10 years

Target period

37 years

Breadwinners

Life insurance is important for those with family burden. In case of misfortune, life insurance gives your family a peace of mind. If budget allows, you should also consider savings insurance for future goals.

 

*The following combo examples are in HKD

Basic coverage

Monthly
$1,079
Up
WhatsApp Enquiry
Life Protection

Life insurance

Term life

Death benefit

$3M

Renewable up to

Age 100

Medical Insurance

Medical insurance

Ward

Average coverage

100%

Critical Illness

Critical illness insurance

Term life

Critical illness coverage

$1M

Renewable up to

Age 100

Middle-class

Monthly
$8,022
Up
WhatsApp Enquiry
Life Protection

Life insurance

Term life

Death benefit

$5M

Renewable up to

Age 100

Medical Insurance

Medical insurance

Semi-private

Average coverage

100%

Critical Illness

Critical illness insurance

Term

Critical illness coverage

$2M

Renewable up to

Age 100

Saving Insurance

Savings insurance (retirement)

$3.25M

Projected return %

!

452%

Payment period

10 years

Target return period

30 years

Comprehensive coverage

Monthly
$14,415
Up
WhatsApp Enquiry
Life Protection

Life insurance

Term life

Life protection

$10M

Renewable up to

Age 100

Medical Insurance

Medical insurance

Private

Average coverage

100%

Critical Illness

Critical illness insurance

Whole life + Term

Critical illness protection

$3M

Payment period

25 years

Protection up to

Age 100

Saving Insurance

Savings Insurance (Retirement)

$5.44M

Projected Return %

!

454%

Payment period

10 years

Target return period

30 years

Pre-retirees

On top of a stable income for retirement, you may want to fund your life dreams such as starting your own business or travelling around the world. Medical and critical illness risks should also be well covered. 

 

*Prices shown are in HKD

Basic coverage

Monthly
$5,590
Up
WhatsApp Enquiry
Medical Insurance

Medical insurance

Ward

Average coverage

100%

Critical Illness

Critical illness insurance

N/A

Saving Insurance

QDAP (Guaranteed yearly income)

$70K

Total annuity income (20 years)

$1.4M

Premium payment period

10 years

Annuity Period

Age 66 to 85

Middle-class

Monthly
$9,766
Up
WhatsApp Enquiry
Medical Insurance

Medical insurance

Semi-Private

Average coverage

100%

Critical Illness

Critical illness insurance

Term

Critical illness protection

$1M

Renewable up to

Age 100

Annuity Insurance

QDAP (Guaranteed yearly income)

$88K

Total annuity income (20 years)

$1.77M

Contribution period

10 years

Income period

Age 66 to 85

Comprehensive coverage

Monthly
$23,254
Up
WhatsApp Enquiry
Medical Insurance

Medical insurance

Private

Average coverage

100%

Critical Illness

Critical illness insurance

Term

Sum Assured

$2M

Renewable up to

Age 100

Annuity Insurance

QDAP (Guaranteed yearly income)

$22K

Total annuity income (20 years)

$4.43M

Contribution period

10 years

Annuity period

Age 66 to 85

Disclaimer

10Life Product Comparison and 10Life Insurance Ratings are developed by 10Life Financial Limited, an authorised insurance broker with Insurance Authority License Number FB1526. 10Life Product Comparison and 10Life Insurance Ratings are developed for generic customer segments using mathematical calculations based on product information, facts and data, and are not influenced by any partnerships with or fees received from insurance companies.

Any information on 10Life Platform ("10Life Information"), including but not limited to Product Comparison, Product Ratings, Blog Articles are intended for general education purpose and reference only and should not be constituted as any insurance, financial, investment or other professional advice or solicitation to buy insurance, financial or investment products. 10Life Information does not take into account your individual needs. Reading 10Life Information should not be considered as conducting a suitability assessment. You should only rely on information authorised by insurance companies and/or seek independent advice from licensed intermediaries before purchasing any insurance products or making any insurance decisions. While best effort is used when collecting, validating and updating 10Life Information from various channels, none of 10Life Group and its subsidiaries, affiliates, agents, directors, officers and employees will be responsible for any liability arising from using 10Life Information or for any claims and/or losses caused thereby, and no warranty or guarantee is made on the accuracy, completeness and timeliness of the information.

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