A generational shift in how Hongkongers think about growing old is emerging, according to new survey data from Manulife. Where previous generations may have measured a good life by the wealth passed on to children, residents are increasingly defining longevity by a different standard: the ability to remain independent, avoid burdening loved ones and sustain that freedom across health, finances and caregiving responsibilities.
The Manulife Asia Care Survey 2026 polled 1,000 Hong Kong residents aged 18 and above between February and March 2026, as part of a broader study spanning nine Asian markets and more than 9,000 participants. The Hong Kong findings were released June 22. Their relevance is sharpened by the city’s demographic profile: in 2024, life expectancy at birth stood at 83 years for men and 88 years for women - among the longest in developed economies. At the same time, the proportion of domestic households comprising three members or fewer has risen from 68% in 2014 to 76% in 2024, steadily reducing the informal family structures that have historically absorbed the costs of aging.
For insurers and the brokers who advise them, the survey reads less as a social trend than as a protection gap taking shape in real time. A population that expects 17 years of financial dependence and 14 years of care dependence - the longest financial-dependency period of any market Manulife surveyed - yet where nearly half of investors are steering money into cash and time deposits, is describing a clear mismatch between the longevity it anticipates and the instruments it is using to fund it. That is precisely the space long-term care cover, income protection and sustainable retirement-income products are built to occupy. The caregiving findings sharpen the signal further: with four in 10 respondents already supporting others, and most reporting that the role has eroded their own financial planning and independence, demand for products that both protect income and fund care looks more likely to intensify than ease. Just as telling is the intention-action gap running through all three pillars - the survey's own finding that over-54s who had engaged a financial planner were far more likely to report a good quality of life points to advice itself, not merely product, as the industry's most valuable contribution to an ageing and increasingly self-reliant market.
The survey’s central finding points to a recalibration of what Hongkongers consider worth leaving behind. The aspiration to stay self-sufficient has overtaken the desire to transfer wealth, with most respondents saying they would rather not become a burden than maximise what they hand down. Nine in 10 respondents said they aspire to remain self-sufficient for as long as possible, with a near-identical proportion agreeing that self-reliance is the primary way to avoid placing strain on family. 64% rank “freedom from being a burden” as their top longevity aspiration – rising to 74% among those aged over 60. When asked how they plan to distribute their assets, respondents expect to direct 71% of their financial resources toward their own future needs, with just 29% intended for the next generation.
The gap between aspiration and reality, however, is considerable. Respondents anticipate spending an average of 14 years in a state of care dependency, and 17 years of financial dependence – the longest financial dependency period recorded across all Asian markets surveyed. Only 17% said they plan to draw on their children for financial support in retirement. “People in Hong Kong are increasingly defining a meaningful long life not by what they leave behind, but by their ability to choose how they live – supported by good health and strong financial preparedness. At Manulife, we focus on building holistic support ecosystems that connect customers to healthcare, wellness, and community networks, so they can care for others without neglecting themselves. Ultimately, caregiving should be sustainable – it should not come at the cost of one’s own long-term health and independence,” said Celia Ling, incoming chief marketing officer, Greater China, Manulife.
Preventive health is the first of three pillars the survey examines as foundations of longevity independence – and the one where the distance between stated values and daily habits is most pronounced. The majority of respondents said routine check-ups matter, yet most do not get one. Just over four in five respondents said regular health check-ups are important, yet fewer than half act on that belief annually. 19% have never had a check-up at all. 38% seek early screening only when they suspect symptoms of a serious condition, while perceived cost accounts for approximately 50% of stated barriers, followed by the belief that screening is not yet necessary at 31%. Fewer than half maintain a consistent exercise routine or follow a balanced diet.
Dr. Karen Cheung, longevity expert and author of “Healthy Longevity: Evidence-based Study of Hong Kong,” addressed the behavioural dimension at Manulife’s Longevity Insight Forum, held in Hong Kong on June 22: “True independence in maintaining a healthy and long life means waking up with choices rather than constraints. Yet, lasting change doesn’t require drastic transformations; it starts with small, consistent steps. When we recognize that independence is built gradually through our everyday decisions, we can proactively reclaim control over our future, turn intention into sustained momentum, and empower ourselves to help others.”
The financial picture follows the same pattern. Hongkongers are moving away from family reliance and toward self-funded retirement, but the savings instruments most commonly used are unlikely to sustain the dependency periods respondents themselves anticipate. Personal savings remain the dominant funding source at 73%, followed by investments at 52%, while just 17% expect any contribution from their children. Yet within that investment segment, only 36% invest in stocks and 13% in mutual funds, while 46% are increasing cash and time deposits – instruments that carry limited return potential over a multi-decade horizon. 67% said they are worried about affording care in later years, and 77% plan to keep working beyond age 65. Hongkongers anticipate spending an annual average of approximately HK$94,000 on unexpected healthcare needs, yet only 57% feel financially prepared to cover that cost. The broader regional context is consistent with this picture. The Sun Life Asia Financial Resilience Index, published June 9, found that the share of highly resilient households across Asia dropped from 32% in 2025 to 25% in 2026, with just 13% of respondents reporting full financial security across the region.
Jeanie Ho, head of Hong Kong and Macau retirement at Manulife, said the retirement challenge is one of distribution as much as accumulation. “Retirement planning may need to go beyond accumulation to creating sustainable income, resilience and confidence over the 30 to 40 years people may spend in retirement. The MPF system is designed to support members in planning for retirement from the moment they enter the workforce. However, to fully realize its potential, members need to take a more proactive role in managing their accounts across different life stages. This includes regularly reviewing investment choices, aligning portfolios with evolving needs and risk appetite, and ensuring their savings are well-positioned to support both pre- and post-retirement goals,” she said.
The third pillar is caregiving - and it is where the survey’s findings carry the most direct implications for the insurance industry. Shrinking households and weakening family networks mean the caregiving burden is increasingly falling on individuals who are simultaneously managing their own financial futures. Four in 10 respondents said they are already providing some form of care, split between health support and financial assistance. The strain on those caregivers is measurable: more than two thirds report that caregiving has compromised their daily activities and financial planning, and 58% say it affects their ability to maintain long-term independence. A cohort that is deferring its own health planning while drawing down savings to fund others’ care represents a growing demand signal for income protection and long-term care products.
Open family dialogue remains limited despite its demonstrated value. Just over half of respondents said they have discussed retirement planning with family, even though nearly two thirds believe such conversations would help. Among those who have not had the conversation, 30% say they do not know where to start. The data on outcomes is concrete: among respondents aged over 54, those who had discussed retirement with family were significantly more likely to report a good quality of life - a figure that rose further still, to 90%, among those who had engaged a financial planner.
For the industry, that gap in family dialogue is as much an opening as a shortfall. Just over half of respondents said they have discussed retirement planning with family, even though nearly two thirds believe such conversations would help — and among those who have not, 30% simply do not know where to start. That hesitation defines a role insurers and brokers are well placed to fill: not only supplying long-term care and retirement-income products, but convening the conversations that prompt households to plan for them in the first place. The outcome data makes the case in a single line: Among respondents over 54, those who had discussed retirement with family were markedly more likely to report a good quality of life, a figure that climbed to 90% among those who had engaged a financial planner. For an ageing, increasingly self-reliant market that remains underprepared for the very dependency periods it anticipates, that number reframes professional advice from an optional extra into the mechanism that turns longevity aspirations into funded reality and positions the advisers who can deliver it as central to, not incidental to, how Hongkongers intend to grow old.
