Blue Launches “Revitalising Hope” Project, Offering HK$100 Million Free Life Insurance Protection to Hong Kong

HONG KONG, 8 June 2020 – Blue, Hong Kong’s first digital life insurer, has today announced a project themed “Revitalising Hope” to support the Hong Kong community amid the COVID-19 pandemic. The project will offer free life insurance protection coverage totaling HK$100 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.

According to the latest labour force statistics by the Census and Statistics Department (February to April 2020), industries related to consumption and tourism¹ 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%.

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.

Mr. Charles Hung, CEO & 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. Blue previously announced the provision of ‘Complimentary Coverage for Novel Coronavirus’ as well as an extension of grace periods for our customers with protection policies².”

“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.” Mr. Hung added. “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 of “Revitalising Hope” Project - Free HK$100 Million Life Insurance Protection

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 HK$250,000 to each of the eligible applicants. The project quota is 400.

Eligibility

• Hong Kong permanent residency;

• Aged between 18 and 55;

• Have recently become unemployed due to COVID-19 or are now working in the travel & hospitality, retail and food & beverage, and arts & recreation industries facing financial pressures due to underemployment; and

• Not holding any existing policies with Blue.

As part of the “Revitalising Hope” project, Blue also launched a series of mini documentary videos featuring individuals from the impacted industries sharing their stories about how they found new hope during the COVID-19 outbreak.

For further details of the “Revitalising Hope” project, please visit blue.com.hk/en/COVID-19.

Remarks:

1. The retail, accommodation and food service industries as a whole is generally referred to as the consumption- and tourism-related segment, according to the Census and Statistics Department. Detailed statistics can be found here.

2. Please click here for details.