HSBC: Most Asian HNWIs Have No Legacy Plan in Place
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A report by HSBC Life reveals that nearly 60% of Asian high net worth individuals (HNWIs) lack legacy plans, particularly in Greater China, where only 24% in Taiwan, 26% in Hong Kong, and 36% in mainland China have formal plans. Southeast Asia shows better preparedness, with Thailand leading at 57%. Economic volatility is a key motivator for creating legacy plans, with life insurance being the preferred solution for 87% of respondents. The survey included 900 participants from nine markets in Asia and the Middle East.
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