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In fact, the Insurance Authority revealed that 59% opt for investment-linked policies with high savings value.
This is a stark contrast to the cheaper term life insurance. Since it does not have any savings or investment features, only 0.9% of insurance premiums paid for such products in 2019, even though investment-liked insurance is 20 times more expensive than term life insurance.
Many of those who cannot afford investment-linked policies don’t go for insurance compensation at all. Thus, the Insurance Authority report said Hong Kong faces a mortality