Every applicant for life insurance undergoes financial underwriting, regardless of whether they are increasing their coverage amount. As for medical examinations, they are not required every time you increase your sum insured. They are only necessary if the increase brings the total coverage amount beyond the maximum sum insured without financial underwriting and body check. Click here to understand the reasons and process for financial underwriting and medical examinations.

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Maximum sum inured amount allowed without financial underwriting and bodycheck

Reason for Financial Underwriting

Life insurance is intended to compensate for the loss of income resulting from the insured person's death. Therefore, Bowtie considers the existing life insurance sum insured and income of the insured person (including monthly salary, bonuses, commissions) as well as their age (see table below) to determine the maximum sum insured they can purchase more.

For self-employed individuals, those without full-time employment, or unemployed individuals, Bowtie may request more relevant information during the underwriting process, and may even review the coverage and income of relatives (spouse, siblings, or parents).

Other sources of income, such as dividends and rental income, are not included in the underwriting scope and considerations as they are not affected by the insured person's death.

💡 Procedure for Financial Underwriting
During the application, Bowtie will ask you 2-3 questions.
1. Have you purchased life insurance in other insurance company? This includes all kinds of life insurance such as term life and whole life.
2. What is the total life insurance sum insured that you purchased with other insurance company?
3. What is your total salary of the last 12 months, including commission and bonus?

Reason for Bodycheck

When a customer significantly increases their life insurance sum insured to HK$20,000,000, the risk underwritten by an insurance company is greater. The underwriting risk not only affects the insurance company but also impacts all customers (including existing customers). Only through a physical examination can Bowtie gain a clear understanding of the insured person's health condition and make reasonable underwriting decisions to avoid unexpected risks.

Bowtie will arrange appropriate medical examinations based on the insured person's age to make the most suitable underwriting decision.

💡 Procedure for Body Check
1. After successfully submitting the application and passing the financial underwriting, Bowtie will contact you via email for information regarding bodycheck.
2. Customers shall schedule an appointment with the designated medical center and present the above-mentioned email upon arrival.
3. Within 2-3 weeks, the bodycheck report will be directly sent to Bowtie by the medical center for underwriting purposes.

The cost of the bodycheck will be fully covered by Bowtie. However, there may be charges if you request a copy of the report.

❓ Can I submit my existing examination report for underwriting purposes if I have previously undergone a physical examination?
If you have undergone a physical examination within the past 6 months before purchasing additional sum insured, you can email the report to Bowtie for underwriting. There is a chance that we may waive the need for another bodycheck.
*Bowtie reserves the right to make the final decision on this matter.。

After the financial underwriting and bodycheck, Bowtie will notify you of the result regarding the your application to increase sum insured through email. You only need to log in to the system within 2 weeks and follow the instructions to complete the application process^.

^The underwriting result will be expired 2 weeks after the date of the email. Afterwards, you will need to resubmit the application and undergo a new underwriting process.。