China Pacific Life Insurance Co Ltd, a subsidiary of the China Pacific Insurance (Group) Co Ltd (CPIC), launched a service, packaging insurance with senior caring solutions in Shanghai on Saturday in face of the countryâ€™s growing aging population.
The Shanghai-based underwriter said that it will build three types of retirement community named Pacific Care Home to cater to the differentiated needs of the elderly. For people aged above 80, they will create urban healthcare center featuring high-quality rehabilitation nursing services.
Seniors aged between 70 to 79 will enjoy more vigorous and joyful suburban accommodation service offered by the CPIC and customers aged between 55 and 69 can choose to have a residential recreation life style in the care center.
China Pacific Life Insurance partnered with the Orpea Group, a European leader in dependency care, post-acute and psychiatric care clinics last week and set up a joint-venture to provide more professional care service for the old generation.
The life insurer noted that it aims to provide better service for the Chinese families by integrating its local know-how and its global partnerâ€™s rich experience in the field of elderly health and personal care.
It is projected that by 2020, China will see its population above 60 years old hit 255 million, which will account for 17.8 percent of the worldâ€™s second largest economy.