AIA finds health planning gap in wealthy Asian families
An AIA study shows high-net-worth families in Hong Kong and mainland China score just 62 out of 100 on longevity readiness, exposing a critical gap in medical planning that threatens to undermine complex succession strategies.
AIA Alta has launched a High-Net-Worth Optimal Longevity Index, developed with Boston Consulting Group, that scores HNW and ultra-HNW individuals in Hong Kong and mainland China at just 62 out of 100. Based on interviews with over 300 wealthy individuals, the report places this demographic firmly in a "developing" category for preparing for longer lives.
The data reveals a stark imbalance between financial and medical preparation. While 80 per cent of respondents have secured assets through wills or trusts, only 20 per cent have established health decision-continuity mechanisms, such as a medical power of attorney. Furthermore, just 10 per cent of ultra-HNW respondents expressed full confidence in accessing cross-border urgent care within 48 hours.
For private banks and wealth managers, this gap presents a direct risk to succession planning. Hong Kong residents already boast some of the world’s highest life expectancies, at 82.7 years for men and 88.2 years for women. Yet the index found that only about 30 per cent of wealthy families have completed training for successors to manage transferred wealth, leaving legacy structures vulnerable to health-related disruptions.
AIA is positioning itself to capture this market need by pushing a centralized advisory model. "The index is the first of its kind in the market. It makes one point very clear: longevity cannot be managed in silos," said Alice Liang, chief proposition and healthcare officer of AIA Hong Kong and Macau.
Li argues that as families operate across multiple jurisdictions, they require a central "integrator" to prevent fragmentation during crises. "Our role, therefore, is to act as a long-term orchestrator of family decision-making, ensuring strategies remain aligned, are reviewed regularly and can be executed consistently across different stages of life," Liang said.
This strategy underpins the AIA Alta Prestige Wealth Centre, which provides trust, tax, legal and family-office-style services. To address the specific cross-border complexities between Hong Kong and the mainland, AIA has deployed "health ambassadors" through its Family Health MedTeam to oversee medical records and offer 24/7 support.
The findings point to a broader evolution in Asian wealth management. As Liang noted, families are increasingly adopting family-office-style governance models because "in an era of longer lives, the risks associated with fragmentation and lack of integration are significantly amplified."
