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Insurance Authority introduces useful online tools for assessing and addressing individual protection needs in different life stages

3 December 2021


Changes are inevitable in life. These changes may incur unexpected losses and lower the standard of living for an individual, particularly when the breadwinner is involved.

To enhance general awareness of the evolving risk profile and protection needs in life, the Insurance Authority (IA) today (3 December 2021) launched the Public Education Campaign on Lifetime Risk Profiling and introduced an online assessment tool complemented by a thematic sitelet developed in-house.

Anchored on the Mortality Protection Gap Study 2021 1 , the online assessment tool provides users with a convenient way to evaluate their mortality protection gap by filling in some basic information. Meanwhile, impartial and reliable information on insurance being an effective risk management tool may not be easily accessible. The thematic sitelet is a ready source of such information.

“COVID-19 has redirected attention towards the uncertainties in life and highlighted the important role of insurance as a tool for risk mitigation. The Public Education Campaign on Lifetime Risk Profiling is targeted at encouraging and empowering people to understand and manage their risk exposures, thereby helping to narrow the protection gap and deepen financial inclusiveness,” said Mr Clement Cheung, Chief Executive Officer of the IA.

A video series together with TV Announcements in the Public Interest will also be launched to disseminate key messages of the campaign starting from today. The video series is also available for viewing on the IA website and YouTube channel .

Ends

Note:

1 Please refer to the press release about the Study published on 25 August 2021.


(from left to right) Ms Chitty Cheung, Non-Executive Director and Convenor of the External Relations Committee of the IA, Dr Moses Cheng, Chairman of the IA and Mr Clement Cheung, Chief Executive Officer of the IA announced the launch of the Public Education Campaign on Lifetime Risk Profiling.