Many Hongkongers are worried whether they will have enough savings during their old age. Photo: Nora Tam

New government scheme will allow Hong Kong’s elderly folk to get loans by using their life insurance policies as collaterals

  • The Policy Reverse Mortgage Programme will convert a policy’s death benefits into cash flows while the person is still alive
  • It is targeted at Hong Kong Identity Card holders aged 60 or above
Topic |   Ageing society

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Many Hongkongers are worried whether they will have enough savings during their old age. Photo: Nora Tam
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Peace Chiu

Peace Chiu

Peace is a reporter at the Post on the Hong Kong desk, specialising in education and social policies. She joined the Post in 2016, having previously worked in Singapore for 938NOW and Yahoo.