Hong Kong-based virtual insurer Bowtie has introduced a new critical illness insurance plan specifically designed for children and pregnant women, marking a first in the local market. This newly launched “Child Growth Term Critical Illness Plan” aims to fill a long-standing gap in coverage for congenital and pregnancy-related health risks.
Unlike most existing products that are tied to whole life insurance with savings components and therefore come with higher premiums, Bowtie’s offering is a term-based policy without any savings element. The plan covers up to 76 congenital, hereditary, and pediatric diseases.
Children insured under this plan are eligible for critical illness protection until the age of 18, with a maximum payout of HKD 500,000 (approximately USD 64,364). For pregnant policyholders, the plan provides coverage for pregnancy complications starting from the 18th week of gestation, offering a payout of up to HKD 100,000 (around USD 12,873).
The plan also extends dual protection to cover both childhood-specific diseases—such as Kawasaki disease with cardiac complications, Huntington’s disease, and osteogenesis imperfecta—and major illnesses more commonly diagnosed in adults, such as cancer, stroke, and heart disease.
Bowtie adopts a “cheaper over time” pricing model, where premiums decrease as the child ages and the risk of congenital disease drops.
Calvin Tsang, Head of Marketing and Brand at Bowtie, stated that the company’s objective is to address the lack of insurance options that cover genetic conditions and to meet the needs of the over 30,000 newborns born in Hong Kong annually.
This initiative further highlights Bowtie’s commitment to redefining the health insurance landscape with accessible, affordable, and focused protection plans for underserved populations.
Related Topics:
Which Lease Makes the Landlord Pay Taxes and Maintenance?
Who Obtains the Insurance Certificate in a Group Insurance Policy?
Under What Circumstances Do People Need Disability Insurance?
