Digital life insurance firm Blue has announced a project called “Revitalising Hope” to support the Hong Kong community amid the covid-19 outbreak.
The project will offer free life insurance protection coverage totalling HK$100m (£10.2m, $12.9m, €11.45m) to individuals who are or were in the industries hit hardest by the pandemic.
They include travel and hospitality, retail and food & beverage, as well as arts and recreation.
Blue is a joint venture between investment manager Hillhouse Capital, telecommunications giant Tencent Holdings, and global insurer Aviva.
Ride out the storm
Charles Hung, chief executive and executive director of 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.
“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.”
Details
The project is now open for applications, which offers free “WeCare Term Life Protection Plan 1” with benefit term of one year and a sum assured of HK$250,000 to each of the eligible applicants.
The project quota is 400.
People that are eligible need to be:
- A Hong Kong permanent resident;
- Aged between 18 and 55;
- Recently become unemployed due to covid-19 or are now working in the travel and hospitality, retail and food and beverage, and arts and recreation industries facing financial pressures due to underemployment; and
- Not holding any existing policies with Blue.
