Newsflash

Extending Love Beyond Life Boundaries

The shocking 9-11 tragedy, the devastating SARS disaster and the ravaging tsunami catastrophe, which claimed at least 150,000 precious lives, inspired many of us to revisit the meaning of "life" and triggered the launch of "LifeCare Movement" in 2005. The movement aims at promoting life care education and the spirit of extending love to others through supporting charities by the means of the Policy Donation Program (PDP).

"LifeCare Movement", which was launched jointly by the "The Life Underwriters Association of Hong Kong (LUA)" and "LUA Foundation" (LUAF), is supported by many major insurance companies and social services as well as charitable organizations in the territory. Hong Kong Christian Service is among the list.

Though PDP is a relatively new concept in Hong Kong, it is already a well-received means for supporting charities in western countries. It provides a stable, long-term funding source for the local charities.

PDP is a very effective donation means with unique advantages: minimal influence to the living of the donor (the insurer) and the multiplying effect of insurance policies that proliferates a donor's contributions into a significant lump-sum donation without extra costs on him/her. The donor can make the donation using an existing policy or a new one. The donor simply needs to add the charitable organisation he/she wants to support onto the list of beneficiaries of his/her insurance policy (for example, 90% of the insured amount to his/her family and 10% to the targeted charity).

Using the year 2004 statistics (aggregate amount of life insurance claims were over 1 billion) as a basis for estimation, if every policyholder in Hong Kong donates, say 1% of the sum insured for charitable purposes, an extra charity fund of 1.5 million can be generated. This really makes a difference for the local charity business.

HKCS has selected Pacific Century Insurance Company (PCI) as partner in promoting PDP. A team of PCI financial advisers cum registered "LifeCare Ambassadors" will provide volunteer service and one-stop support to anyone who is interested in joining or learning more about PDP. The policy needs not to be under PCI. PCI is a dedicated supporter of LifeCare Movement and is very keen on and experienced in helping charity organizations in the promotion of PDP in Hong Kong.

For more information about PDP, please contact Peggy Cheung, PCI (The Best LifeCare Ambassadors2006 Awardee) or visit http://www.lifecare.org.hk.