IncomeGuard and IncomeShield introduce a m arket-first^[1] heart attack/stroke continuous treatment benefit offering up to 100% coverage^[2]for each payout following receipt of a major critical illness benefit, along with total critical illness coverage of up to 1,000% and 500%, respectively, of notional amount

IncomeShield also features s implified underwriting procedures with just three health questions

HONG KONG, April 28, 2025 /PRNewswire/ -- Manulife Hong Kong today announced the launch of two new critical illness plans designed to offer customers market-leading annual critical illness payouts, helping to mitigate potential income loss during long-term treatment. The IncomeGuard Critical Illness Protector covers 121 critical illnesses and diseases, providing a market-first^[1] heart attack/stroke continuous treatment benefit with up to 100% of the notional amount upon diagnosis of a heart attack or stroke for subsequent specified complex or major surgeries, following the receipt of major critical illness benefit. The IncomeShield Critical Illness Protector delivers focused protection for cancer, heart diseases, and stroke, featuring simplified underwriting with as few as three health questions. Together, these plans provide essential financial support tailored to the diverse needs of customers facing serious health challenges.

Darren Thompson, Chief Product Officer_Manulife Hong Kong and Macau

Manulife's research^[3] reveals that consumers seeking critical illness coverage prioritize three key factors: coverage for a wide variety of critical illnesses (53%), the availability of various value-added services to support them during illness (39%), and coverage for recurring critical illnesses (37%). In addition, upon diagnosis, 39% of surveyed consumers identified their immediate concern, ranked among the top three, as losing their ability to work and their income-earning potential. This was closely followed by 34% who cited becoming a burden to their family and needing care as their next most pressing issue. Yet, even as they contemplate securing insurance coverage for critical illnesses, one of their top concerns is the higher premiums that come with increasing age (25%). These findings underscore the importance of financial stability in helping consumers focus on their recovery and providing them with peace of mind.

The IncomeGuard Critical Illness Protector offers extensive coverage for 121 critical illnesses and diseases, including 60 major critical illnesses, 44 early-stage critical illnesses, and 17 juvenile diseases. Key features include:

• Extra  coverage : Provides up to 100% extra critical illness coverage if the life insured is diagnosed with a major critical illness, an early-stage critical illness and/or juvenile disease, or passes away within the first 10 policy years^[4]. This offers annual income support, with coverage of up to 1,000% of the notional amount^[5] from diagnosis to  treatment for cancer, heart attack, and stroke. 
• [Market-first^[1] ] Heart attack/stroke continuous treatment benefit: Upon diagnosis of a heart attack or stroke following the receipt of a major critical illness benefit, this feature offers extra protection with each payout of up to 100% of the notional amount for subsequent specified complex or major surgeries.
• Premium waiver: Premiums for the basic plan are waived for 12 months starting from the premium due date immediately after the diagnosis date of an early-stage critical illness or juvenile disease once benefits are paid. All future premiums for the basic plan are also waived following the diagnosis of a major critical illness after benefits are paid.
• Traditional Chinese medicine: Offers reimbursement for traditional Chinese medicine related to cancer treatment, supporting the recovery journey.
• Protection Restore Benefit: This benefit provides the total amount previously paid for an early-stage critical illness and juvenile disease that occurred at least a year ago if the life insured has a major critical illness or passes away before the age of 85, providing the life insured with much-needed financial support.
• Guaranteed premium: The premium amount remains unchanged throughout the payment period, with terms available for 10, 20, or 25 years.^[6]

The IncomeShield Critical Illness Protector is designed for customers seeking focused protection against cancer, heart diseases, and stroke. Key features include:

• Simplified underwriting: Answer just three health questions, mainly focused on health conditions from the past two years, provided that the insured has not been diagnosed with specified diseases.
• Steady financial support: This offers annual income support, with coverage of up to 500% of the notional amount^[7] from diagnosis to treatment for cancer, heart attack, and stroke.
• [Market-first^[1] ] Heart attack/stroke continuous treatment benefit: Upon diagnosis of a heart attack or stroke following the receipt of a major critical illness benefit, this feature offers extra protection with each payout of up to 100% of the notional amount for subsequent specified complex or major surgeries.
• Late-stage Cancer Advanced Benefit: Provides a one-time advanced payout equal to 100% of the notional amount upon diagnosis of late-stage cancer.^[8]
• Premium waiver: All future premiums for the basic plan are waived after the diagnosis date of a major critical illness, once benefits are paid.
• Protection Restore Benefit: This benefit provides the total amount previously paid for an early-stage critical illness that occurred at least a year ago if the life insured has a major critical illness or passes away before the age of 85, providing the life insured with much-needed financial support.
• Guaranteed premium: The premium amount remains unchanged throughout the payment period, with terms available for 10, 20, or 25 years.^[6]

Darren Thompson, Chief Product Officer, Manulife Hong Kong and Macau, said: "With rising medical costs and the financial burden of critical illnesses, it is essential for Manulife to offer our customers accessible and holistic insurance solutions that protect themselves and their loved ones during challenging times. While many consumers view critical illness plans as a means to cover treatment expenses, they also serve as a vital income replacement tool. When diagnosed with a critical illness, people often need to take time off for treatment and recovery, leading to significant income loss. This makes critical illness plans invaluable in providing financial stability, allowing individuals to focus on their treatment and recovery journey."

To provide better support for customers diagnosed with cancer, Manulife's CancerCompanion Service^[9], is now available as a value-added service through a Healthcare Hotline Team and Personalized Medical Case Managers^[10], who are qualified nurses with extensive healthcare experience, to guide customers diagnosed with cancer through treatment and recovery. The services feature the industry-leading^[11] Cancer Drug Support Service^[12], which includes limousine service in collaboration with Prosper Health and Shenzhen New Frontier United Family Hospital, as well as a second medical opinion service to be provided by specialists at Gleneagles Hospital Hong Kong, HKSH Medical Group, CUHK Medical Centre, and all United Family Hospitals. Additionally, discounted cancer check-up packages and dietitian services are available through selected medical service providers^[13],[14].

 Terms and conditions apply. For more details and risks about IncomeGuard and IncomeShield, please click on the provided links to access the respective product leaflets.

The content of this press release does not contain the full terms of the policy(ies), and the full terms can be found in the corresponding policy document(s). Before making a purchase, customers are encouraged to read the policy provisions for the exact terms and conditions that apply to these products.

[1] Based on comparisons with other publicly available critical illness plans issued by Hong Kong's major life insurance companies for individual customers as of April 27, 2025. [2] For heart attack/stroke continuous treatment benefit, the total amount payable is up to 400% of the notional amount. [3] Manulife conducted an online survey in December 2024 to gather insights into the needs and preferences of Hong Kong consumers regarding critical illness products. The survey sampled 501 adults aged 25 to 54 with a monthly household income of HK$30,000 or above in Hong Kong. [4] If the life insured is diagnosed with a major critical illness, the IncomeGuard Critical Illness Protector will pay an additional payout equal to 100% of the major critical illness benefit (excluding any terminal bonus) and any protection restore benefit paid. If the life insured is diagnosed with an early-stage critical illness and/or juvenile disease, the IncomeGuard Critical Illness Protector will pay an additional payout equal to 100% of the amount of the benefit paid for that illness and/or disease.  [5] Benefit payouts of up to 1,000% of the notional amount include: (1) major critical illness benefit, (2) cancer diagnosis benefit, (3) cancer continuous treatment benefit, (4) heart attack /stroke continuous care benefit, and (5) heart attack /stroke continuous treatment benefit. [6] It is guaranteed that the basic plan premiums for the initial basic plan notional amount remain unchanged throughout the premium payment period. However, the premium and guaranteed cash value due to an increase in the basic plan notional amount, including those increases triggered by using the inflation protector option, are not guaranteed. [7] Benefit payouts of up to 500% of the notional amount include: (1) major critical illness benefit, (2) late-stage cancer advanced benefit, (3) cancer diagnosis benefit, (4) cancer continuous treatment benefit, (5) heart attack /stroke continuous care benefit, and (6) heart attack /stroke continuous treatment benefit. [8] If the late-stage cancer advanced benefit has been paid, the total payable amount of the cancer continuous treatment benefit will be reduced by 100% of the notional amount. [9] The services covered by the CancerCompanion Service are administrative arrangements and are not part of the product features. For the avoidance of doubt, the use of the service does not imply any expenses or diagnoses associated with the service are covered in the insurance policy(ies). Manulife reserves the right to change designated medical services provider(s) for each service from time to time, or revise or terminate these services at any time without prior notice. Manulife and its insurance advisors do not have relevant licenses and/or qualifications to provide medical services. Medical service providers are independent contractors and are not employees, agent, or servants of Manulife. Manulife shall not be responsible and/or liable for any services, diagnosis, advice or treatment or other acts or omissions of medical service providers. Manulife shall not be liable for any acts or omission of any other service providers. Unless otherwise specified, all related expenses (such as costs arising from medication, consultations, examinations, tests, etc.) will be borne and paid by the customer. Please note that some of these services are only available to insured persons located in designated regions only (e.g. Hong Kong); please refer to the relevant terms and conditions for details. The CancerCompanion Service is subject to terms and conditions, so please refer to the relevant leaflet for details. [10] The service is supportive in nature and does not provide diagnosis, treatment or medical advice. The information provided is not medical advice or recommendation. It should not be relied upon by users in their decision making in relation to their medical conditions. If you need any medical care or emergency medical service, please visit a doctor for consultation immediately. The Healthcare Hotline Team service is subject to terms and conditions; please refer to the Holistic "Medical Professional Support Service" leaflet for details. [11] "Industry-leading" is based on comparisons of the administrative services with other publicly available critical illness plans offered by Hong Kong's major life insurance companies for individual customers as of March 19, 2025. [12] Eligibility applies to the Insured of ManuLove Care, ManuPrimo Care/ManuPrimo Care (BestStart), ManuBright Care 2 Plus, ManuBright Care 2, Manulife Bright Care PRO, ManuVital Care, Manulife Supreme VHIS Flexi Plan, Manulife Supreme Lite VHIS Supplementary Benefit, Manulife Supreme Medical Plan, Manulife Supreme Lite Medical Supplementary Benefit, ManuMaster Healthcare Series/Benefits, ManuShine Healthcare Series/Benefits, Manulife First VHIS Flexi Plan, Manulife Shelter VHIS Standard Plan, ManuGuard Medical Plan/Benefit, Cancer Treatment Benefit, ManuEnrich Medical Top-up Plan, IncomeGuard and IncomeShield. The eligible policy(ies) must be without relevant exclusion(s). To be eligible for Cancer Drug Support Service, the Insured must be confirmed with cancer and the respective diagnosis(es) must be supported by a registered medical practitioner. Each eligible Insured can receive at most one Cancer Drug Support Service per life regardless of the number of eligible policies they are insured. Terms and conditions apply. [13] These services are provided by Manulife's partnered medical service providers which are not agents of Manulife and do not act on behalf of Manulife. Manulife's services are supportive in nature and Manulife shall not be responsible or liable for any diagnosis, advice, or treatment or other acts or omissions of medical service providers. Manulife shall not be liable for any acts or omissions of any other service providers. [14] The arrangement of the services and discount provided by Manulife's partnered medical service providers may change from time to time without prior notice. The services and discounts are subject to the terms and conditions imposed by Manulife's partnered medical service providers.

About Manulife Hong Kong

Manulife Hong Kong has been a trusted name for more than 125 years. Since our operations started in Asia in 1897, we have grown to become one of the top-tier providers of financial services, offering a diverse range of protection and wealth products and services to over 2.6 million customers in Hong Kong and Macau. We are committed to helping make decisions easier and lives better for our customers.

Manulife Hong Kong, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited, and Manulife Provident Funds Trust Company Limited. These entities are all subsidiaries of Manulife Financial Corporation.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges, and under '945' in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

Source: Manulife Hong Kong Related Stocks: HongKong:0945 NYSE:MFC Toronto:MFC