This product is designed for anyone between the ages of 0 and 50. Once a diagnosis of specified dread disease is confirmed, the insured is entitled to a one-time lump sum benefit without having to present a medical expense receipt2.
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The NDB is a basic policy offering for persons who already have sufficient cancer protection but has little or no medical coverage in other specified dread diseases. With this product, policyholders will be better prepared when illnesses strike for premiums that are affordable. The NDB has the following key features:
1. Ten years of additional protection after premium paid-up
The premium payment period is 20 years, while the benefit period is 30 years.
2. Benefit payouts in lump sum3
Once death or a diagnosis of total permanent dismemberment or specified dread disease is confirmed, the insured is entitled to a one-time lump sum benefit equal to the maximum amount of the policy face amount, policy value or 1.056 times the total premium paid at the time of the diagnosis4 without having to present a medical expense receipt. The one-time lump sum benefit would provide financial relief to the household while the insured receives quality medical treatment.
3. Maturity benefit5
Policyholders of the NDB are entitled to a maturity benefit of 1.056 times the total premium paid upon maturity at the end of 30th policy year. The benefit could be used for retirement and travel planning.
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Note 1: A specified dread disease in the policy provision refers to a doctor’s first diagnosis of any one of the following diseases made after 30 days from the day the policy comes into effect.
Note 2: The policy terminates once Manulife Taiwan pays out the specified dread diseases benefit. Except for medical expense receipts, please refer to policy provision for detailed descriptions on required documentation.
Note 3: If the insured dies or diagnosed total permanent dismemberment before the attained age 16, total premiums accumulated with interest will be returned to the policyholder or beneficiary. Please refer to Article 14 and 15 of the policy provision for detailed descriptions.
Note 4: Within premium payment period, total premium paid is defined as total annual premium paid per year times the policy years. After premium paid-up, total premium paid is defined as total annual premium paid per year times the premium payment period.
Note 5: The policy terminates once Manulife Taiwan pays out maturity benefit.
