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Dec 2019

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Hong Kong: 1.7m adults lack healthcare protection

Source: Asia Insurance Review | Dec 2019

A newly released survey shows that more than a million Hongkongers don’t have any kind of healthcare protection, preferring to put their cash in investments or spend it on entertainment, shopping, and housing instead.
 
Zurich Insurance Hong Kong has conducted an online survey regarding local knowledge of medical expenses, showing that 27% of respondents did not purchase any form of individual medical coverage. Among these respondents, 40% of men and 33% of women said they did not have any income to spare on medical insurance.
 
Based on its results, Zurich estimates that in Hong Kong, there are about 1.7m adults aged over 20 or above facing a healthcare protection gap.
 
Some respondents weren’t forced to decline insurance because of low income but simply preferred other investments or entertainment. For example, 13% of men spent on cars and housing, while the same proportion of female respondents said they spent their money on travelling and shopping.
 
“The survey findings reflect that the public still underestimates the importance of medical insurance,” said Zurich CMO Fiona Kwok. A 
 
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