Insurance

Blue Launches "Revitalising Hope" Project

Blue, Hong Kong's first digital life insurer, has announced the launch of a project themed "Revitalising Hope" to support the Hong Kong community, offering free life insurance protection coverage totalling HKD100 million to individuals who are or were in the industries hit hardest by Covid-19.

The industries include travel and hospitality, retail and food & beverage, as well as arts and recreation, the firm said in a press release.

According to the latest labour force statistics by the Census and Statistics Department (February to April 2020), industries related to consumption and tourism as well as arts, entertainment and recreation suffered significant deterioration in its employment situation. The latest unemployment rate soared to 9%, while the underemployment rate rose to 5.4%, the firm reported.

Determined to support Hong Kong through thick and thin, Blue as a socially responsible insurer is now offering free life insurance to empower those facing financial pressures to protect their loved ones under these unprecedented times.

Charles Hung, CEO & Executive Director, Blue, said: “The pandemic has adversely affected many people's livelihoods. It is in times like these that we must unite and help each other. Blue previously announced the provision of 'Complimentary Coverage for Novel Coronavirus' as well as an extension of grace periods for our customers with protection policies.”

“As the first digital life insurer in Hong Kong, we go the extra mile to protect those affected by the pandemic. The 'Revitalising Hope' project is an extension of our community initiatives related to Covid-19. We aim to allay some of the anxieties of those most in need in our community by offering free life protection coverage. We would like to thank the different organisations including chambers and industry associations that have joined us to promote this meaningful project. Together as we all play our part, we will ride out this storm,” Hung continued.

The project is now open for applications, which offers free "WeCare Term Life Protection Plan 1" with benefit term of 1 year and a sum assured of HKD250,000 to each of the eligible applicants. The project quota is 400, the press release detailed.