Some retirees in China are living in resorts. About an hour from downtown Shanghai, seniors reside in a complex with 2,000 households, a hospital, a worship space, a gym, and a cinema. In order to get in, seniors must buy life insurance from a company called Taikang Life Insurance Co.
According to a Wall Street Journal article, China’s insurance companies have spent $10 billion on retirement communities. The goal is to find a way to care for the 1.4 billion Chinese who will be 60 or older by 2050. Due to the government policy restricting children, the country is not prepared to care for the aging population. More