Bowtie designed insurance plan for individuals aged 50+ before retirement


Sharing is caring!

HONG KONG, Sept. 29, 2023 /PRNewswire/ — As individuals in their 50s approach retirement, they not only face the loss of a stable monthly income but also the termination of group medical insurance. Considering the increased risk of illness associated with aging, having adequate coverage becomes crucial. Recognizing this, Bowtie has tailored medical insurance for individuals aged 50 or above, allowing pre-retirees to obtain sufficient protection without adding to their financial burden.

5 major health issues that individuals may encounter at the age of 50, along with their severity

According to research conducted by foreign medical institutions, individuals aged 50 or above should be particularly aware of the following health risks:

  1. Colorectal Cancer:
    Due to poor eating habits, both men and women are at risk of developing this highly fatal disease. According to data from the Hong Kong Cancer Registry, the annual incidence of colorectal cancer exceeded 5,000 cases every year between 2016 and 2020. The annual number of deaths also exceeded 2,000 cases, resulting in a high fatality rate of 40%.
  2. Heart Disease:
    Heart disease continues to be the third leading cause of death in Hong Kong. According to data from the Department of Health, 6,561 people died from heart disease in 2020, accounting for approximately 13% of total deaths that year.
  3. Stroke:
    According to data from the Department of Health, there were 3,165 registered deaths due to stroke in 2020, accounting for over 6% of total deaths that year.
  4. Diabetes:
    In Hong Kong, approximately one out of every ten individuals has diabetes. Complications of diabetes include heart disease, kidney failure, and vision impairment, among others.
  5. Hypertension (High Blood Pressure):
    As individuals age, the elasticity of their blood vessels decreases, putting pressure on the body’s blood circulation system. Consequently, many middle-aged individuals suffer from high blood pressure. Among individuals aged 60 and above, approximately two-thirds on average have high blood pressure.

Insurance needed for Aged 50 up Individuals

For the retirement protection that individuals aged 50 need the most, Bowtie believes that a comprehensive medical insurance plan is crucial. It provides coverage for necessary check-ups and treatments to avoid significant medical expenses that could disrupt retirement plans.

Recognizing that retirees have lost the security of group medical insurance and may lack a fixed income, Bowtie has designed the following retirement insurance products to provide sufficient medical insurance coverage without increasing financial burden:

Retirement Insurance Product for 50-year-old pre-retirees: Bowtie Flexi (Regular) + Gleneagles Hospital Wellness Package

Features of the product:

  1. No deductible, but full reimbursement for over 240 surgeries/tests:
    Since most retirees do not have a fixed income or group medical insurance, medical insurance without a deductible and with full reimbursement becomes essential. This means they do not need to use their savings to pay for deductibles or medical expenses.
  2. Free annual health check-up:
    Bowtie Flexi (Regular) + Gleneagles includes a complimentary comprehensive annual health check-up (valued at up to $2,720). This allows individuals to regularly monitor their health status and seek timely medical attention if any issues arise, facilitating faster recovery.

Among various medical insurance products, voluntary health insurance scheme has gained significant popularity among Hong Kong citizens. As of 2022, the number of voluntary health insurance policies has surpassed one million* and continues to grow steadily, making it one of the most favoured medical insurance products.

*Based on the figures released by the Department of Health on September 2, 2022.

How much does the above plan cost?

Bowtie Flexi (Regular) + Gleneagles Hospital Wellness Package Monthly Premium

Male Non-smoker

Female Non-smoker

Age 50



Age 51



Age 52



Age 53



Age 54



Total for 5 years



Do aged 50+ people need other insurance?

In addition to vhis, pre-retirees can consider purchasing other insurance plans/increasing coverage based on their budget, such as:

However, the needs of each individual pre-retiree are different. Therefore, Bowtie has designed a personalized online health insurance recommendation tool. Pre-retirees only need to answer a few simple questions, such as: (1) How many years of financial support would you like to provide to your dependents in the event of your death? (2) How many adult dependents do you have? (3) What is the total value of your assets?

Based on these answers, they will receive simple insurance recommendations. The tool will also provide an approximate quotation, allowing pre-retirees to choose insurance based on their monthly budget (the final premium is subject to individual underwriting results).

Other tools/information: Bowtie VHIS comparison

Promotion if you want to buy VHIS for your whole family: family medical insurance

Other recommendations Bowtie has for pre-retirees

  1. Before purchasing insurance, compare through third-party platforms:
    In addition to understanding the policy details, individuals can also compare different products in the market before purchasing. There are various third-party platforms available online, such as 10Life, which list multiple products in the market and provide comparisons of medical insurance and VHIS in terms of coverage, premiums, and terms. This helps pre-retirees choose a product that suits their needs.
  2. Undergo regular health check-ups:
    Research has shown that early detection of critical illnesses and timely treatment can improve survival rates.

About Bowtie
The Bowtie Life Insurance Company Limited is an authorised life insurance company and Hong Kong’s first virtual insurer. Its vision is to bridge the health protection gap and transform the way people access healthcare in Asia. By combining modern technology and medical expertise, Bowtie offers an agent-free, commission-free, and convenient online platform for customers to quote, apply, and claim for health insurance plans anytime, anywhere. Bowtie is backed by Sun Life Financial, Mitsui & Co, and supported by leading international investors. Currently, Bowtie has raised more than HK$680 million and provided over HK$60 billion of insured value to families. Stay up to date at