Posted by
rgoodwin
19 yrs ago
Hi! Does anyone have a good/affordable option for life insurance in HK? My husband and I need to purchase one in the next week, and would like to find a reasonably priced package. Thanks!
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Hong Kong is a relatively expensive market in which to buy life insurance. For comparison, get some quotes from your brokers in your home country and/or from brokers in reputable well-regulated offshore jurisdictions such as the Isle of Man.
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One of the most efficient options is to make an appointment with a professional financial adviser, voice out your needs whilst you can get to know more and request for a proposal. They are free of charge and you can receive professional advice in a couple of days. I would not suggest an offshore broker unless those reputable firms such as AIA cannot fulfil your needs.
Hope it helps.
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Pine, pm me for further information (insider information)
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crj
19 yrs ago
We buy our life insurance from Charles Monat.
St. George’s Building, Suite 106
2 Ice House Street
Hong Kong
Tel +852 2524-8176
Fax +852 2845-9149
infohk@monat.com
Every agent will 'try' to sell you 'whole life'. So do some research first and look at 'whole life' and 'term life insurance' to see which suits you more.
In short, term life is usually 20+ years, and you pay a set fee each year. After it 'expires' that's it, no benefit.
Whole life is 'forever' and you pay a lot more per year, but it gains interest and you can use it as a mini savings - but it only earns about 4% and costs a lot more. The advantage is that it lasts for life and does not expire.
Do your research and talk to a few agents to compare prices, etc...
Good luck!
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We took out a whole of life policy - it expires in 2057 - we will be well into our 90's if neither of us drop dead before then. We took it out when we were in our 20's - I'm just thinking what I can spend it on when it matures - new teeth, glasses, hip replacement, nursing care, wheelchair (electric I hope), what fun!
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