According to the findings of a Nielsen survey commissioned by Generali, about 75% of Hong Kong people view "price and affordability" as a key consideration when buying a critical illness (CI) plan, closely followed by "comprehensiveness of the type and number of illnesses covered" (71%).
When it comes to type of coverage, an overwhelming 66% of respondents see cancer as the most important CIs to be covered, followed by heart disease (10%), stroke (8%) and illnesses related to major organs (6%).
Similarly, when it comes to protection for children, parents are most concerned with cancer among other illnesses, making it one of the must-have coverage options (54%), along with heart disease (13%) and mental illnesses, such as ADHD and autism (19%).
Close to 70% of interviewed parents are willing to purchase CI plans for their children before they are born even if there are additional costs in premiums.
Generali commissioned Nielsen to conduct a 500-person survey from 30 Oct to 9 Nov 2020, interviewing CI plan owners and non-owners who are parents (with kids aged below 18 or expecting or planning a newborn) and non-parents (adults aged between 25-49), to investigate the key drivers for choosing a CI product and compelling or unique features that can be added or highlighted in the insurance plan.
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