Only 32% of Hong Kong couples have discussed holistic financial plans, potentially indicating that the remaining two-thirds of couples do not have a plan in place for their future.
People from the sandwich generation - those who had competing demands and financial responsibilities for both younger and older generations - have an increasing desire to be prepared for financial independence in retirement.
As part of its drive to build an inclusive and equitable society, Manulife Hong Kong has announced its offering of individual life insurance coverage (basic plans only, excluding term life, critical illness and medical insurance products) to customers who are diagnosed with Human Immunodeficiency Virus (HIV).
Manulife Hong Kong has launched ManuGlobal Saver - a product designed to meet the growing demand among people looking to capture opportunities both locally and globally for long-term wealth accumulation.
Despite the fifth wave of Covid-19, some of the city's biggest insurers have enjoyed surging sales thanks to their digital offerings and a heightened public awareness of the need for medical cover.
AXA Hong Kong is carefully monitoring the social impact of its investment allocation changes as it aims to reduce its carbon footprint by 20% come 2025.
To enhance the protection of policyholders who intend to use premium financing when taking out life insurance policies, the Insurance Authority (IA) and the Hong Kong Monetary Authority (HKMA) have issued relevant circulars to life insurers, intermediaries and financial institutions such as banks.
The Insurance Authority (IA) has announced further measures to facilitate the online distribution of all life insurance products to meet potential policyholders' demand for a wide range of insurance products while minimising the risk of infection during the sales process.
Hong Kong's Insurance Authority (IA) has issued a note to formalise the green light process for assessment on Investment-Linked Assurance Scheme (ILAS) products, whilst ushering in Protection Linked Plans (PLP), a new category of ILAS embedded with a high level of insurance protection.
The Life Insurance Council of the Hong Kong Federation of Insurers (HKFI) has recently established a focus group comprising experts on pensions and annuities.
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