January 24, 2020

In view of the recent outbreak of the novel coronavirus and the increased risk of the infection, YF Life Insurance International Ltd. (YF Life) has taken immediate action to offer free hospital income benefit and simplify hospital benefit claims services specifically for diagnosed cases of the novel coronavirus infection, plus a number of service extensions, offering comprehensive and caring services to customers:

Free Hospital Income Benefit¹

The benefit is available to all insured persons of individual insurance policies, with a daily benefit of HK$600 per insured, for up to 45 days

Simplified Hospital Benefit Claims Services¹

• Waiver of waiting period
• Waiver of restriction on hospitalization at the designated classes of hospital in China specified in the policy provisions
• Waiver of annual deductible (if applicable)
• The No Claim Bonus / No Claim Premium Discount will not be affected by related claims
• Simplified claims procedures that only require the hospitalization proof (e.g. medical receipt copy) and the diagnosis proof for infection by the novel coronavirus issued by the hospital. The original receipts may be submitted later
• Priority handling of claims with 24-hour express approval for diagnosed cases of the novel coronavirus infection
• Cancelation of claims request submission deadline
• Dedicated Claims Hotline 2533 5523(Hong Kong)/8399 8306(Macau)

Special Extensions

• Extension of grace period to 90 days² for individual insurance policies
• Waiver of insurability and underwriting procedures when applying for reinstatement of individual insurance policy³ within 90 days from the premium due date of the lapsed policy

Ms. Jeanne Sau, Chief Marketing Officer of YF Life, said, “At YF Life, we are committed to developing and providing customers with flexible and comprehensive insurance solutions because we always give them top priority in meeting their health protection needs. In view of the outbreak of the novel coronavirus, we have taken immediate action in the best interests of our customers. For instance, we now offer individual insurance policy customers a free hospital income benefit of up to 45 days and have waived the restriction on hospitalization at designated classes of hospital in China, meanwhile offering simplified and express claims services, amongst others. In addition, customers may take advantage of our digital claims services application - JET Claim - to submit hospital income claims. The claim reimbursement will be transferred to customers’ designated bank accounts via FPS instantly, offering them a one-stop, paperless claims service experience.”

YF Life Insurance International Limited is a member of publicly listed Yunfeng Financial Group Limited (HKSE: 376), whose major shareholders include Yunfeng Financial Holdings Limited and MassMutual International LLC. Leveraging our robust financial background and solid reliability, YF Life is committed to helping customers “own the future” by providing professional and technology-enhanced one-stop risk- and wealth-management consulting services, as well as MPF services.

Remarks:

1. The measures are applicable to diagnosed cases of the novel coronavirus infection before April 30, 2020. Insurance coverage remains subject to the relevant terms and conditions.
2. Applicable to the premium due date for the period from January 1 to March 31, 2020 (excluding investment-linked policies)
3. Applicable to lapsed policies with premium due date on or before April 28, 2020. Application is valid until July 31, 2020.