10Life Financial Limited
Enquiries: enquiries@10life.com
Hotline: (852) 3705 1599
Address: 16/F Greatmany Centre, 109-115 Queen’s Road East, Wan Chai, Hong Kong
Talk to 10Life on WeChat
What protection do I need?
4 key life stages
3 myths to bust when buying insurance
Myth 1﹕
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﹕
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﹕
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
Make sure you can afford it
Understand the details
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, for illustration only.
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
Whole life
Critical illness coverage
$500K
Renewable up to
Age 100
Savings insurance
N/A
Medical insurance
Semi-private
Average coverage
100%
Critical illness insurance
Whole life
Critical illness coverage
$1M
Payment period
25 years
Savings insurance (Education)
$600K
Projected return %
178%
Payment period
10 years
Target period
18 years
Medical insurance
Private
Average coverage
100%
Critical illness insurance
Whole life
Critical illness protection
$2M
Payment period
25 years
Protection up to
Age 100
Savings insurance (Education)
$2M
Projected return %
163%
Payment period
10 years
Target return period
18 years
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
Whole life
Critical illness coverage
$500K
Renewable up to
Age 100
Savings insurance
N/A
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, for illustration only.
Life insurance
Term life
Death benefit
$1M
Renewable up to
Age 100
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
N/A
Savings insurance
N/A
Life insurance
Term life
Death benefit
$5M
Renewable up to
Age 100
Medical insurance
Semi-private
Average coverage
100%
Critical illness insurance
Whole life
Critical illness protection
$1M
Payment period
25 years
Protection up to
Age 100
Saving insurance (Retirement)
$2.5M
Projected return %
694%
Payment period
10 years
Target return period
37 years
Life insurance
Term life
Death benefit
$10M
Renewable up to
Age 100
Medical insurance
Private
Average coverage
100%
Critical illness insurance
Whole life
Critical illness coverage
$2M
Payment period
25 years
Protection up to
Age 100
Savings insurance (Early retirement)
$2M
Projected Return %
696%
Payment period
10 years
Target period
37 years
Life insurance
Term life
Death benefit
$1M
Renewable up to
Age 100
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
N/A
Savings insurance
N/A
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.
*Prices shown are in HKD, for illustration only.
Life insurance
Term life
Death benefit
$3M
Renewable up to
Age 100
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
Term life
Critical illness coverage
$1M
Renewable up to
Age 100
Life insurance
Term life
Death benefit
$5M
Renewable up to
Age 100
Medical insurance
Semi-private
Average coverage
100%
Critical illness insurance
Term
Critical illness coverage
$2M
Renewable up to
Age 100
Savings insurance (retirement)
$3.25M
Projected return %
452%
Payment period
10 years
Target return period
30 years
Life insurance
Term life
Life protection
$10M
Renewable up to
Age 100
Medical insurance
Private
Average coverage
100%
Critical illness insurance
Whole life + Term
Critical illness protection
$3M
Payment period
25 years
Protection up to
Age 100
Savings Insurance (Retirement)
$5.44M
Projected Return %
454%
Payment period
10 years
Target return period
30 years
Life insurance
Term life
Death benefit
$3M
Renewable up to
Age 100
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
Term life
Critical illness coverage
$1M
Renewable up to
Age 100
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, for illustration only.
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
N/A
QDAP (Guaranteed yearly income)
$70K
Total annuity income (20 years)
$1.4M
Premium payment period
10 years
Annuity Period
Age 66 to 85
Medical insurance
Semi-Private
Average coverage
100%
Critical illness insurance
Term
Critical illness protection
$1M
Renewable up to
Age 100
QDAP (Guaranteed yearly income)
$88K
Total annuity income (20 years)
$1.77M
Contribution period
10 years
Income period
Age 66 to 85
Medical insurance
Private
Average coverage
100%
Critical illness insurance
Term
Sum Assured
$2M
Renewable up to
Age 100
QDAP (Guaranteed yearly income)
$22K
Total annuity income (20 years)
$4.43M
Contribution period
10 years
Annuity period
Age 66 to 85
Medical insurance
Ward
Average coverage
100%
Critical illness insurance
N/A
QDAP (Guaranteed yearly income)
$70K
Total annuity income (20 years)
$1.4M
Premium payment 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.
If you have any questions on 10Life Product Comparison and 10Life Insurance Ratings, please email us at enquiries@10life.com.
