Rewards Guide Detail

Start with the risk you need to cover

Write down your protection objective, existing cover and the premium you can sustain each year. If you are attracted mainly by miles, pause to check whether the policy fills a real protection gap. A one-off reward will not pay future annual premiums.

Obtain the policy wording and benefit summary from the insurer. Ask how limits, exclusions, waiting periods and claim documents apply to your circumstances. Do not compare only the largest advertised payout or rely on a verbal explanation; ask the insurer to clarify unclear terms.

Use separate lists for cover and rewards

Your cover list answers: what can be claimed, and what would I still pay if an event occurs? Your promotion list answers: what conditions must I meet, and when will I receive the reward? Keeping these separate prevents a welcome bonus from hiding unsuitable cover or a long-term premium commitment.

Suppose two fictional policies both cost HK$2,000 in year one and one includes miles. The miles alone do not decide which suits you. Compare coverage, year-two premiums and renewal terms first. HK$2,000 is an illustration, not a market quote or product recommendation.

• Cover: insured events, geographic scope, limits and excess
• Restrictions: exclusions, waiting periods and pre-existing conditions
• Ongoing cost: first-year and later premiums, renewal and cancellation terms
• Rewards: required channel, registration, payment, crediting date and cancellation treatment

Verify the insurer and intermediary before applying

Check the insurer in the IA's register. If an intermediary is involved, verify their licence and company too. Begin through the insurer's official website or a confirmed service channel, and check the exact product name and policy version.

Answer application questions accurately and submit health details, identity documents and payment through the procedure confirmed by the insurer. A comparison guide is not an application or claims form. Store policy documents, receipts and promotion confirmations securely yourself.

Review the documents again after the policy arrives

Check the insured person, cover, start date and premium against your application. Establish whether your policy has a cooling-off period, its starting point, deadline and cancellation procedure. Do not assume the same rule applies to every insurance type and policy.

Set a separate reminder for the promotion's reward-crediting date. If miles are missing, contact the party named in the promotion terms using your registration and payment confirmations. Do not overlook cover issues or a cancellation deadline while chasing a reward. If you need to claim, follow the insurer's procedure and keep required receipts and submission records.

Official references

This guide is our original explanation; official sources remain authoritative for current product and programme details.