Core Viewpoint - The recent surge in interest for purchasing Hong Kong insurance products, driven by high yield and global asset allocation claims, is accompanied by significant risks due to differences in legal systems, regulatory policies, and product designs [1][5][6]. Group 1: Regulatory and Legal Risks - Companies promoting or selling insurance products must hold valid licenses issued by financial regulatory authorities, and individuals must register with their respective insurance companies or intermediaries [1][5]. - Purchasing overseas insurance products without proper compliance can lead to illegal "underground policies," which lack legal protection in mainland China [6][7]. - Legal recourse for disputes involving overseas insurance can be costly and complex, with significant differences in legal systems between mainland China and jurisdictions like Hong Kong [7]. Group 2: Financial Risks - Consumers face multiple financial risks when purchasing overseas insurance, including exchange rate fluctuations, uncertain policy returns, and high claims costs [2][6]. - The actual returns on overseas insurance policies may be significantly lower than projected due to high commissions and management fees, as well as currency exchange risks [2][3]. Group 3: Service and Accessibility Issues - Overseas insurance products often present challenges in service convenience, including complex policy terms that may be difficult to understand, even in translated versions [4]. - Claim processes for overseas insurance can be cumbersome, requiring personal presence in the jurisdiction where the policy was issued, which contrasts with the more accessible services provided by domestic insurers [4].