ZA Life Insurance Review

ZA Life Insurance Review

A digital insurance platform providing term life, critical illness, and accident insurance products in Hong Kong.

Good for

  • Online quoting and application process
  • Young adults looking for cheap term life insurance
  • Basic Plans

Bad for

  • Those looking for whole life insurance
  • High income earners looking for long term life insurance solutions

Editor's Rating

4.5/5.0

ZA offers convenient and affordable term life insurance products, critical illness protection, and accidental insurance. Originally a digital bank provider in Hong Kong, ZA Insure secured a digital-only insurer license in Hong Kong in 2020. Since launching their insurance product lines, they currently have 4 basic plans to purchase online easily.

What Makes ZA Life Stand Out

ZA stands out as one of the early adopters for digital-only insurance in Hong Kong. Their flagship products include the ZA Life Protection, ZA Heart and Stroke Protection, ZA Cancer Protection, and ZA Accident Protection plans.

Similar to other digital-only insurance providers in Hong Kong, ZA Insure has a limited selection of plans to choose from. However, their plans are affordable and provide competitive benefits for their insurance class. Additionally, ZA Insure offers some of the lowest minimum and highest maximum sum insureds in the market for their plans. This means that most consumers who are shopping for a simple policy can find a plan for them.

If you are looking for a whole life insurance plan, look at our picks for the Best Life Insurance Plans in Hong Kong.

ZA Insure Term Life Insurance Plan Benefits

ZA currently offers only 1 term life insurance plan. Term life insurance is a simple life insurance plan that provides your loved ones financial benefits if you pass away. There are other types of life insurance plans that serve the same function, but with added financial benefits during your lifetime. Whole life insurance and universal life insurance plans typically come with guaranteed cash value benefits and access to funds that are accruing interest over the life of the policy. Look at our top picks for the best life insurance plans in Hong Kong for more details.

ZA Life Protection: Flexible and Affordable Coverage

The ZA Life Protection plan is a simple term life insurance plan. The major differentiator from other term life insurance plans in the market is accessibility. Consumers can directly quote and purchase this plan online by answering only a few simple questions.

The plan comes with 3 different benefit terms—1, 5, and 10 years—with a minimum sum insured of only HK$100,000 and a maximum sum insured up to HK$10,000,000. With such a low sum insured, this plan is affordable to most consumers in Hong Kong. A 25 year-old non-smoking male can expect to only pay HK$5 a month for a 1-year plan. The ZA Life Protection plan also comes with a renewal guarantee up to the age 85.

Benefits
Benefit term1, 5, 10 years
Maximum sum insuredHK$10,000,000
Issue age18-65 years-old

Benefits
Benefit term1, 5, 10 years
Maximum sum insuredHK$10,000,000
Issue age18-65 years-old

ZA Critical Illness Plans

ZA Insure offers 2 critical illness plans that can be easily quoted and purchased online:

  • The Heart Attack and Stroke Protection plan
  • The Cancer Protection plan
In exchange for comprehensive coverage, these two plans offer cheaper plans for consumers who want to target high-risk illnesses.

ZA Heart Attack and Stroke Protection: Simple and Affordable Coverage

ZA Heart Attack and Stroke Protection offer simple heart attack and stroke coverage. 100% of the sum insured will be paid in the event of a heart attack or stroke, along with a compassionate death benefit of up to HK$5,000.

The ZA Heart Attack and Stroke Protection plan comes with 3 benefit terms—1, 5, and 10 years—with a minimum sum insured of HK$100,000 and a maximum sum insured of up to HK$2,500,000 for those who purchase a policy between the age 18-45. A 25 year-old non-smoking male can expect only to pay HK$0.50 per month for a 1-year plan.

Benefits
Benefit term1, 5, 10 years
Maximum sum insuredHK$2,500,000
Issue age18-65 years-old

Benefits
Benefit term1, 5, 10 years
Maximum sum insuredHK$2,500,000
Issue age18-65 years-old

ZA Cancer Protection: Simple and Affordable Coverage

ZA Cancer Protection is a critical illness plan that offers carcinoma-in-situ (CIS) and early-stage cancer benefits. Advanced payment for CIS benefits includes up to 20% of the sum insured or HK$300,000, whichever is lower.

ZA Cancer Protection's main cancer benefit will pay 100% of the sum insured less any claims under CIS/Early Stage Cancer Benefit items. Additionally, the ZA Cancer Protection plan includes a compassionate death benefit of up to HK$5,000.

Benefits
Benefit term1, 5, 10 years
Maximum sum insuredHK$2,500,000
Issue age18-65 years-old
Waiting period60 days

Benefits
Benefit term1, 5, 10 years
Maximum sum insuredHK$2,500,000
Issue age18-65 years-old
Waiting period60 days

Downsides

ZA Insure is a new digital-only insurance provider that has been selling insurance plans only since 2020. This means that they currently have a limited selection of plans to choose from and often only one option per insurance type.

ZA Insure offers simple plans. If you know exactly what you want and ZA's products provide you the necessary coverage, you can comfortably shop from your computer or phone at home. That being said, do not expect to find a unique or tailored plan with many extra added benefits.

Additionally, ZA Insure only offers term life insurance and not whole or universal life insurance plans. This means you cannot convert your term life insurance plans into a whole life insurance plan when you get older and your financial needs change. For convertible term life plan or insurers who offer whole life insurance plans, check out our picks for the Best Life Insurance Plans in Hong Kong.

How to Apply for ZA Insure Insurance

Convenient and easy life insurance quotes available

As ZA Insure Insurance is a digital insurance provider, you can apply and handle all your policy needs online. ZA Insure has created a simple portal that allows you to quickly input your details, receive a quote, and purchase in a few simple steps. Alternatively, you can send inquiries to their hotline +852 3665 3638 or email them at [email protected]

To make a claim, visit their claims portal for detailed instructions.

ZA Insure cannot currently offer coverage to US citizens. Please check the policy details for eligible nationalities for each plan.

Stephen Lee

Stephen Lee is a Senior Research Analyst at ValueChampion Hong Kong, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.