I cannot comment on how things are where you are, but
in Asia, life insurance is booming. As
millions are uplifted to prosperity by growing economies, they are acquiring
financial advice and investing in liability protection to secure wealth for the
next generation. Also, medical inflation
outstrips monetary inflation. There is
an incentive to buy good hospitalisation coverage because it is still cheaper
than paying out of pocket for medical treatment. Furthermore, as the mass affluent get
sophisticated, they move beyond mere liability protection towards investment
plans in order to diversify their asset portfolio.
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