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Life insurance ensure peace of mind, even in your absence
What if I'm gone before the mortgage is repaid? I still want my family to have a home.
Even if I miss my child's graduation, I want to make sure they graduate.
Even if I'm not there, I want my parents to have a secure retirement.
If the insured is diagnosed with a terminal illness and predicted life expectancy less than 12 months1,2, Bowtie will provide an additional lump sum benefit besides death benefit that can be used freely to fulfill their last wishes!
Your life protection needs increase when income and life stage change. However, most online term life insurance only offers coverage up to a few million dollars.
After listening to our customers, Bowtie has increased the maximum sum insured to $20 million (medical examination required4), allowing customers to get sufficient coverage from a single insurer.
限時優惠
upgradeBenefit coverage
Death benefit coverage
(100% of sum insured)
Claim method
If the insured person dies, Bowtie will pay the death benefit to the beneficiary in a lump sum
Minimum Sum insured
$200,000
Maximum Sum insured
$20,000,000 (Existing Customer*)
$8,000,000 (18-45 years old)
$4,000,000 (46-55 years old)
$3,500,000 (56-60 years old)
$1,000,000 (61-65 years old)
Life insurance provides a lumpsum compensation to the designated beneficiary upon the death of the insured, this is known as the death benefit. Life insurance is mainly classified into two categories:
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Life insurance provides financial support to the designated beneficiary, preventing insured person’s loved ones’ livelihood from being affected by the unfortunate death. A lumpsum payment will be compensated by both whole life insurance and term life insurance, however, the former offers both protection and returns, whilst the latter solely provides protection. For the same premium, term life insurance typically offers over 12 times^ higher coverage than traditional savings life insurance products.
Bowtie Term Life Insurance, operating fully online, reduces more administrative costs than other insurers, allowing us to provide over 40 times^ higher coverage than traditional savings life insurance for the same premium.
^ Calculated based on the standard premium of a 35-year-old non-smoking female insured with a sum assured of $1 million; term life insurance: data is the standard premium of term life insurance (20-year coverage) on the market on July 1, 2020(Includes term life insurance that can be applied online and 8 other term life insurance products); saving life insurance: data is the standard premium of 8 saving life insurance products (20-year premium payment period) on the market on July 1, 2020.
Term Life Insurance is a purely life protection product, focusing on providing life coverage to the insured person within a specified period. Its premiums may be adjusted with age or upon renewal. Whole Life Insurance, on the other hand, offers both protection and returns, often using a level premium system. For the same premium, Term Life Insurance typically provides over 12 times^ higher coverage than traditional Savings Life Insurance products.
^Calculated based on the standard premium of a 35-year-old non-smoking female insured with a sum assured of $1 million; term life insurance: data is the standard premium of term life insurance (20-year coverage) on the market on July 1, 2020(Includes term life insurance that can be applied online and 8 other term life insurance products); saving life insurance: data is the standard premium of 8 saving life insurance products (20-year premium payment period) on the market on July 1, 2020.
The ‘Last Wish Rider’ is a rider option offered with Bowtie Term Life Insurance. It provides a one-time payout of HK$300,000 when the insured person is diagnosed with a terminal illness and a doctor certifies that their life expectancy is less than 12 months^. The insured person can use this payout to fulfill their last wishes, with no restrictions on its use.
If, for any reason, the insured person does not or cannot claim this benefit before their passing, the designated beneficiary of the policy will receive a compassionate death benefit of HK$100,000.
^ The Insured must (1) provide a Terminal Illness Certificate signed by a doctor to prove that the Insured is suffering from a terminal illness and is likely to have a life expectancy of less than 12 months, and (2) survive for 14 days or more to be eligible for a lump sum payment of $300,000 for the Last Wish Rider.
Unlike traditional life insurance policies, the "Last Wish Rider" provides an additional coverage to the insured person, rather than being a part of the original life insurance benefit.
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Despite life insurance being a protection that policyholders prepare for their families/loved ones, some insurance companies offer more flexible protection for the insured, allowing them to withdraw 100% (or a specified percentage) of the sum assured in advance when they are terminally ill.
However, Bowtie believes that the protection prepared by the policyholder for their family/loved ones should be used to support their future living expenses and should not be reduced due to the insured's need for protection due to terminal illness. Therefore, we have launched the “Last Wish Rider" to provide an additional sum assured to support the insured's life/needs when they are ill.
No, the Policyholder / Insured Person is free to use the benefit on anything they wish to.
Bowtie recommends considering your insurance needs based on your life stage. Simply put, we suggest the breadwinner(s) in a family to consider getting life insurance. In the unfortunate event of their passing, their dependents would receive crucial financial assistance to support their daily lives.
The cooling-off period for Bowtie Term Life insurance and the ‘Last Wish Rider’ is 21 days. If you wish to cancel your plan or the rider within the cooling period, we will provide a full refund of premiums paid.
Please note that upon the cancellation of your plan, the ‘Last Wish Rider’ will simultaneously be terminated.
There is no waiting period for Bowtie Term Life Insurance. Once the policy is effective, you will receive immediate coverage.
The "Last Wish Rider" has a waiting period of 180 days. Within such 180 days, Bowtie will not pay out the Last Wish benefit or compassionate death benefit (except for an illness caused directly by an Accident and diagnosed within 90 days from the date of the Accident)
To cater to a wider range of needs, Bowtie Term Life Insurance accepts beneficiaries who are non-cohabiting partners, same-sex partners, and non-blood related family members (including step parents/siblings). Bowtie reserves the right to request supporting documents (such as birth/marriage certificates) from the policyholder for verification purposes.
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