Date
20 September 2017

Insurer sees mortgage pension products by 1Q, paper says

Happy Life Insurance Co. Ltd. said it has been asked by the government to present housing reverse mortgage products and launch them in the first quarter next year, Beijing Youth Daily reported Sunday, citing chairman Meng Xiaosu. The products enable the elderly to pledge real estate to banks and insurance companies in exchange for pensions or accommodation in care homes.

– Contact HKEJ [email protected]

TL/AC/RA

 

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