1. In violation of regulations, domestic individuals cannot directly invest in any overseas wealth management products.

2. Not money laundering

It's hard to say, because it depends on the insurance contract or product contract.

Similarly, it's hard to say, in case any dispute can't be solved in the mainland, you must go to Hong Kong. In other words, you are very risky, and you don't know much about Hong Kong's laws, product contracts and so on.