With the increasing popularity of overseas study, AXA Hong Kong ("AXA") and HSBC launch a new insurance plan "Overseas StudySurance" to provide extensive care for students getting education abroad. With annual premium as low as HKD4,000, students can enjoy the comprehensive protection away from home with the following premium features:
- Medical expense coverage up to HKD2,500,000
- Personal accident protection up to HKD1,200,000
- Emergency family reunion benefit up to HKD100,000 for 2 parents or legal guardians
- Education fund up to HKD300,000
From now until 31 October 2021, customers purchasing "Overseas StudySurance" via HSBC website or HSBC branch will be entitled to a 10% premium discount in perpetual, applicable to policy inception and renewal afterwards; and HKD200 YATA gift certificate for each policy. Students who are Hong Kong residents and aged between 10 and 40 can be covered.
Comprehensive protection with the top-notch medical and accidental coverage
"Overseas StudySurance" provides the top-notch medical expense coverage up to HKD2,500,000 including in/out-patient overseas medical treatment occurring during the study trip and follow-up medical expenses in Hong Kong within 90 days of insured student's return from abroad. Medical expenses for vaccine-preventable diseases will also be covered. "Overseas StudySurance" also brings extensive personal accident protection to the insured students with coverage up to HKD1,200,000 for accidental death or permanent disablement.
Not only covering the city of study, "Overseas StudySurance" offers worldwide coverage in which internships are arranged or endorsed by the overseas education institution and incidental travels during the study trip as well as a non-manual part-time job outside Hong Kong. Conventional travel and various sports such as cycling, snow skiing, hiking, horse-riding, canoeing, rafting, windsurfing, scuba diving are also covered.
Immediate support to insured and family during emergencies
AXA and HSBC understand the stress for parents and students in case of emergencies abroad and tailored protection such as emergency family reunion and travel inconvenience are provided to alleviate the financial and mental stress. If the insured student is hospitalised for more than five consecutive days or in the unfortunate event of the insured student's death, "Overseas StudySurance" covers up to HKD100,000 for 2 parents' or legal guardians' transportation and accommodation expenses for emergency family reunion, and offers HKD2,500 cash benefit for parents and legal guardians who take annual leave to visit the insured students.
Regardless of situations, it is always important for students to finish the curriculum especially when they are studying abroad. If the insured student's parent or legal guardian suffers from accidental death or permanent disablement, an education fund up to HKD300,000 will be given to the insured student to ensure the continuation of his/her studies.
Moreover, "Overseas StudySurance" offers maximum HKD20,000 per trip for the irrecoverable transportation and accommodation expenses if the trip is cancelled or curtailed due to insured events.
Overseas home contents and personal belongings are widely secured
"Overseas StudySurance" provides protection to insured students' overseas home contents with coverage up to HKD10,000 and HKD20,000 personal belongings including mobile phones and laptops on a worldwide basis (except in Hong Kong) during the study trip. Temporary accommodation expenses up to HKD5,000 will be reimbursed if the overseas residence is damaged and rendered uninhabitable as a result of insured events.
It also offers the storage cost for personal belongings up to HKD2,000 if the insured student needs to make an emergency departure, and cash allowance up to HKD2,000 for unexpected school closure for more than 3 consecutive days because of natural disaster or as mandated by local authority.
To learn more about the 'Overseas StudySurance', please visit: https://www.hsbc.com.hk/insurance/products/travel/overseas-studysurance/
More from AXA:
Financial freedom now the second-most important purpose in life for Singaporeans - AXA
Only 15% of Singaporeans have sufficient critical illness coverage - AXA survey
Singapore: AXA sale to HSBC highlights growth potential of life insurance sector
P.S: Join 10,000+ financial advisers, leaders, and senior executives on our complimentary VIP Weekly Newsletter
For the full suite of stories and updates, always check in to our Facebook / LinkedIn. Click the following if you want to improve your sales, learn how to be a better leader, or you just need some motivation to kick start your engine.
Do you have a new product or programme to share? Or perhaps you are keen to explore any collaborations with us or our partners? Reach out to us at Connect@AsiaAdvisersNetwork.com