Blue launches “Lowest Rate Guarantee” for its “WeCare Term Life Protection Plan TL3”

(Hong Kong, 9 February 2023) Blue, the first digital life insurer in Hong Kong, is innovating best-in-market insurance solutions with a variety of flexible and high-value products that meet consumer needs. Recently, Blue announced the launch of “WeCare Term Life Protection Plan TL3” (WeCare TL3) along with the brand new feature, “Lowest Rate Guaranteed”, which allows customers to purchase Blue's term life protection at the market’s lowest price during its first policy benefit terms.

Mr. Charles Hung, CEO and Executive Director of Blue, stated: “Blue's product development is always customer-driven. As a result of the pandemic and the wavering economy these past few years, we have seen an increasing demand for product affordability and flexibility. To address this need, we are introducing the ‘Lowest Rate Guaranteed’ [1] feature to our ‘WeCare TL3’ plan, promising the most affordable premium and coverage to our customers and their families who are finally able to enjoy how ‘Simple’ insurance can be.”

“Lowest rate guaranteed” promises the best life protection deal in town

Blue is introducing the “Lowest Rate Guaranteed” [1] to “WeCare TL3”, which guarantees the best price for the first coverage period (up to 5 / 10 / 15 / 20 years or to age 65) [2]. If you find a lower Term Life Protection Insurance premium from any other insurance company, Blue promises to counter-offer a lower price to guarantee the best price in town. Customers only need to provide basic personal information and upload quotations from other insurers on Blue's website (www.blue.com.hk), for a guaranteed three-working-day follow-up upon successful information submission.

Guaranteed Policy Renewal without additional health proof

In addition, “WeCare TL3” guarantees automatic renewal of the policy[3] until the age of 100 without requiring additional health proof. The premium and coverage of the policy will not be affected by changes in the insured's physical condition, providing customers true peace of mind.

Other key features for “WeCare Term Life Plan TL3”

Other than “Lowest Rate Guaranteed”[1] and a guaranteed auto-renewal of the policy[3], Blue’s “WeCare TL3” also includes:

• Highly cost-effective life protection: Blue guarantees the lowest premium in town for the first coverage period. With a simple and straightforward plan that does not involve a savings component, for up to a maximum coverage amount of HK$5.5 million, WeCare TL3 allows customers to get coverage at the most budget-friendly price. Moreover, the premium is guaranteed to remain unchanged during the premium payment period.

• Flexible benefit terms: policy periods are at 5 / 10 / 15 / 20 years or up to age 65 respectively, allowing customers to choose the insurance plan that best suits their needs.

• Easy enrolment and management: By answering three simple health questions, the application process can be completed in just five minutes with instant approval.

For more product details, terms and conditions of “WeCare Term Life Protection Plan TL3”, please visit: https://www.blue.com.hk/hk/wecare-term-life-protection-plan-3

The above products and information are provided by Blue Insurance Limited (“Blue”). The above information shall not be regarded as any form of solicitation and/or recommendation of any insurance product.

Remarks:

[1] “Lowest Rate Guaranteed” compares the standard premiums of two quotations. To be eligible for the “Lowest Rate Guaranteed”, the two quotations must be on the same premium payment term, policy benefit term, issue age, sex, and smoking status, and is applicable to term life policies that are intended for online sale and in Hong Kong only. “Lowest Rate Guaranteed” is not applicable for submitted applications and in-force policies.

[2] Discounted premiums are not applicable to subsequent policy renewal.

[3] While the Policy is in force, renewal is guaranteed at the end of the Policy Benefit Term, before the Life Assured's 96th birthday. For more details, please refer to the Product Summary and the Policy Provisions.