Generali Redefines Critical Illness Coverage with Unlimited Claims[1] even After Major Claims are Made

HONG KONG,April 15,2021 -- Generali Hong Kong introduces LionGuardian Beyond and LionGuardian PlusOne,enhanced critical illness plans with unlimited claims[1]for the most concerned critical illnesses[2]- cancer,stroke and heart attacks.

Generali Redefines Critical Illness Coverage with Unlimited Claims[1] Even After Major Claims are Made

Research findings on key considerations when buying a Critical Illness plan

Based on the findings of a Nielsen survey commissioned by Generali[2],a critical illness plan with affordable premiums and comprehensive coverage is preferred. Around 75% of respondents agree that "price and affordability" is a key consideration,closely followed by "comprehensiveness of the type and number of illnesses covered" (71%). When it comes to type of coverage,an overwhelming 66% of respondents see cancer as the most important critical illness to be covered,followed by heart disease (10%),stroke (8%) and illnesses related to major organs (6%).

Similarly,when it comes to protection for children,parents are most concerned with cancer among other illnesses,making it one of the must-have coverage options (54%),along with heart disease (13%) and mental illnesses,such as ADHD and autism (19%). Close to 70% of interviewed parents are willing to purchase critical illness plans for their children before they are born even if there are additional costs in premiums.

"At Generali,we believe in creating real solutions that address our customers' needs. With the findings from the Nielsen research coupled with our claims experience[3]where the top two causes of death are cancer and heart disease,we saw the need to enhance the coverage for these critical illnesses and have ensured our products features unlimited claims[1]for major critical illnesses,especially in a market where most of the critical illness products only offer limited major claim."said Rebecca Tan,Chief Distribution and Marketing Officer of Generali Life (Hong Kong) Limited.

Rebecca added,"We also understand as parents,their child's health is of utmost importance,from gestation right up to adulthood,parents' worry for their child will never cease. With this in mind,we have built in child benefits in LionGuardian Beyond from as early as 22 weeks of pregnancy[4],allowing parents to protect their child for the next 100 years[5],essentially giving them the Gift of Life."

Enhancing the award-winning LionGuardian for greater protection

Generali has transformed the award-winning critical illness plan "LionGuardian"[6]into the enhanced LionGuardian Beyond and LionGuardian PlusOne plans,delivering additional benefits over and beyond the popular critical illness plan.

Both plans have the following features that protect our customers from unexpected life events.

Unlimited major critical illness benefits[1]and comprehensive coverage

Exclusive in the market[7],both plans offer unlimited claims[1] for cancer[8],stroke and heart attack until the age of 100[5],protection for 138 illnesses,including Major Critical Illnesses and Early Stage or Minor Illnesses,and every major critical illness claim offers 100% of Sum Assured[1],unaffected by previous claims on other critical illnesses covered.

Future premiums waived

Future premiums will be waived once the claimable amount reaches 100% of Sum Assured to provide customers with continuous protection throughout their life.

Protection for unknown illnesses

Even if the cause of the illness is unknown,benefits are also payable for losses in functionality of the key organs[9] – heart,kidney,liver,and lung – with 100% of Sum Assured for each claim.

LionGuardian Beyondis both life protection and savings plan

LionGuardian Beyond is a life protection plan with comprehensive critical illness coverage,which includes benefits for unborn babies,as well as the option to grow your benefits with interest and dividend.

Gift of life for juvenile

From as early as the 22nd week of pregnancy[10],mothers can opt for LionGuardian Beyond to provide their child with coverage[11]for 100 years[5].

Benefits beyond the limit

An additional 40% of Sum Assured is payable for first diagnosed cancer before the age of 22[12],and an additional 60% of Sum Assured payable for the first diagnosed major critical illness or death before the 10th Policy Anniversary[12]. Together with the 100% of Sum Assured for Major Critical Illness Benefit,the total benefit payout is up to 200% of Sum Assured.

First-in-market option for growing benefits

Option to accumulate benefit pay-outs in a Benefit Accumulation Account to earn 4%[13]non-guaranteed interest.

LionGuardian PlusOneis a competitive and flexible choice

LionGuardian PlusOne is a critical illness plan with affordable premium,where customers can enjoy unlimited claims[1]at a limited cost.

Affordable premiums

LionGuardian PlusOne offers comprehensive coverage at an affordable premium. Taking a 30-year-old non-smoking male at a sum assured of USD 125,000 (around HKD 1,000,000)[14]as an example,the first year annual premium he has to pay is USD 517.50 (around HKD 4,000),which equates to approximately USD 1.40 (HKD 11 per day).

"This year,we celebrate 190 years of Generali Group. We are proud to be one of the few brands in the world that can claim such a long history,standing resilient through the test of time," said Cillin O'Flynn,Chief Executive of Generali Life (Hong Kong) Limited. "Throughout the years,we have utilized our unique heritage of knowledge and experience to develop innovative solutions to meet customer needs,and we are proud to redefine the critical illness market by being the first and only[7]company in the market to offer unlimited claims[1]for major critical illnesses."

"Our customers trust us to protect them,and we take great pride in fulfilling our promises,with 270,000[15]claim cases paid in 2020[3]. We are committed to protecting our customers,and achieving our ambition to become their Lifetime Partner".

Special Offers

From now until 30 June 2021,customers can enjoy a premium refund of up to 16% of their first policy year premium upon successful purchase of LionGuardian Beyond and/or LionGuardian PlusOne. For existing Generali Life (Hong Kong) Limited customers,they are entitled to a LionGuardian PlusOne additional discount to a total premium refund of 24% of first policy premium upon successful purchase of LionGuardian PlusOne.

Please visit the official website for more product and promotion details:

https://www.generali.com.hk/EN_US/critical-illness/lionguardian-beyond

https://www.generali.com.hk/EN_US/critical-illness/lionguardian-plusone

Please download high-resolution images here.

Notes to editors:

Awards won by LionGuardian:

https://www.generali.com.hk/EN_US/about_us/awards

About Generali Hong Kong[16]

Since the 1970s,Generali Hong Kong has enabled people to shape a safer future by caring for their lives and dreams. Over the years,we focus on understanding the specific and unique requirements of our customers. This serves as the core of our action in providing solutions to meet our customers changing needs. With our extensive distribution network and partnership with our intermediaries and a combination of our local knowledge with Generali Group's global network and experience,we develop unique,innovative,simple,and flexible financial solutions for our customers.

generali.com.hk

About Generali Group

Generali is one of the largest global insurance and asset management providers. Established in 1831,it is present in 50 countries in the world,with a total premium income of more thanEUR 70.7 billion in 2020. With more than 72,000 employees serving 65.9 million customers,the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali's ambition is to be the life-time partner to its customers,offering innovative and personalized solutions thanks to an unmatched distribution network.

generali.com

LionGuardian Beyondand LionGuardian PlusOneare underwritten by Generali Life (Hong Kong) Limited.

"Generali" and "Generali Hong Kong" refers to "Generali Life (Hong Kong) Limited" unless otherwise indicated.

Terms and conditions apply to the above product and customer promotion offer.

The press release does not contain the full provisions of the products and the full terms can be found in the Policy Provisions.For details of coverage,limitations,product risks,terms and conditions,please refer to the insurance policy documents,e.g. illustration,Policy Provision,product brochure and other supplementary materials (if applicable). For customer promotion offer,please refer to the latest promotion on our website.

[1]Unlimited claims are only applicable for cancer,stroke and heart attacks. For each of the other major critical illnesses,the major critical illness benefit shall be payable to the maximum once only. For waiting period and specific terms and conditions,please refer to the product brochure.

[2]Generali commissioned Nielsen to conduct a 500-person survey from 30 Oct to 9 Nov 2020,interviewing critical illness plan owners and non-owners who are parents (with kids aged below 18 or expecting or planning a newborn) and non-parents (adults aged between 25-49),to investigate the key drivers for choosing a critical illness product and compelling or unique features that can be added or highlighted in the insurance plan. Figures stated in the press release are rounded to the nearest full number.

[3]Generali Individual Life and Group Medical Claims Report 2019-2020,based on data from Generali Life (Hong Kong) Limited and Assicurazioni Generali S.p.A. – Hong Kong Branch.

[4]Subject to Generali underwriting requirements.

[5]If the plan is taken out for an unborn baby,coverage period is 100 years after the policy becomes effective.

[6]Awards include Most Innovative Life Insurance Product in 2020 International Finance Awards,Juvenile Health Insurance Initiative of the year – Hong Kong in Insurance Asia Awards 2020 and Best-in-Class in Critical Illness in BENCHMARK Wealth Management Awards 2019. Visit herefor more information.

[7]Based on comparisons with other critical illness plans issued by Hong Kong major life insurance companies as of March 2021.

[8]Subject to waiting period and specific terms and conditions.

[9]Diagnosed with specific condition of key organs (heart,lung and kidney) which last for at least 3 consecutive months.

[10]Subject to Generali then underwriting requirements.

[11]Full coverage on covered illness benefit will be available after 90 days of birth,and full coverage on death will be available after 180 days of birth. For details of this coverage,please refer to "Unborn Baby Benefit" in product brochure.

[12]Subject to waiting period and specific terms and conditions. For full terms,please refer to the product brochure.

[13]Current interest rate is 4% as of April 2021. The interest rate is not guaranteed and will be determined by Generali from time to time based on market conditions and investment performance.

[14]The case is hypothetical and strictly for illustrative purposes only. The number is calculated at USD 1 = HKD 8,and HKD conversions are rounded to nearest integer.

[15]The number is rounded to the nearest thousand.

[16]Refers to Generali Life Hong Kong Limited and Assicurazioni Generali S.p.A – Hong Kong Branch.