Six in 10 in HK without critical illness insurance

Yet, only 67% would take concrete actions.

Only 59% of Hongkongers have not purchased critical illness insurance, and 82% lack cancer-specific coverage, Prudential Hong Kong said. Yet, 61% of claims payout during the first half of the year were critical illness-related.

Prudential Hong Kong’s recent “Health Awareness Study” and “2024 H1 Individual Life Claims Report” reveal a gap in health insurance coverage amongst Hong Kong residents, despite a reported increase in health awareness. 

The study found that whilst 82% of respondents in the Greater Bay Area (GBA) express a willingness to stay healthy, only 67% of Hongkongers take concrete actions, with only 55% showing concern for liver and digestive health.

The report also noted a rise in claims, with Prudential handling over 66,000 cases in the first half of 2024, marking a 7% increase year-over-year. 

Medical expenses claims rose by 38%, whilst hospitalisation claims increased by 60%. Prudential has managed to reduce the processing time for critical illness and death claims by 28%, aiming to enhance customer experience.