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Chinanews, Beijing, September 14 – According to a report by Beijing Morning Post, Happy Insurance Agency, the first insurance agency in China that will buy houses from elders and pay them in monthly living expenses, will be founded next month.
By then, senior citizens aged1 above 62 will be able to mortgage their houses at Happy Insurance Agency, and the latter will pay them a certain amount of money every month according to the value of their houses, thus to enable the elders to be self-supporting by this scheme. When the elders are gone, the property right of the houses will be transferred to Happy Insurance Agency.
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