35.7% of China internet users purchased insurance and 33.7% don't have any insurance policies according to a Tencent survey.
China internet users buying insurance for the first time are getting younger. Post-60s and post-70s, those born between 1960 and 1979, were over 30 years old at their first purchase. For post-80s, the average first-time insurance purchase age dropped to 26.7 y-o; and 21.7 y-o for post-90s.
Chinese consumers place higher priorities of buying insurance policies on children (74.8%) and parents (67.4%) first; insurance for oneself (31.1%) and spouse (26.7%) is on low priorities.
Insurance in China is facing high awareness but low understanding. 82.2% of China internet users are aware of insurance without much understanding while 14.6% of users understand insurance and 3.3% understand little.
The awareness of buying an insurance policy is rising; and, the most recognized insurance types are medical insurance and critical illness insurance. Life ins...
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