Predict your next investment

FINANCIAL | Asset/Financial Management
taiwanlife.com

See what CB Insights has to offer

About Taiwan Life Insurance Co

Taiwan Life Insurance Co provides financial services. The Company provides loan, securities investment, and insurance services. Taiwan Life Insurance conducts businesses in Taiwan.

Taiwan Life Insurance Co Headquarter Location

8F 188 Jingmaoer Road Nangang District

Taipei, 11568,

Taiwan

886-2-8170-5156

Latest Taiwan Life Insurance Co News

More than half expect to work into retirement: poll

Aug 2, 2021

More than half expect to work into retirement: poll NO REST: Just more than half of the poll’s respondents did not expect to have enough pension after retiring, while 95 percent worried about healthcare coverage By Kao Shih-ching / Staff reporter More than half of Taiwanese intend to continue working after retirement, while 72 percent would keep wealth management services after retirement to bolster their financial security, a survey released yesterday by Taiwan Life Insurance Co (台灣人壽) showed. “Retirement has traditionally been viewed as the start of a second life, during which people have the financial stability to allow for a leisurely lifestyle, but this survey indicated that many people do not think that will happen,” National Chengchi University banking professor Sharon Yang (楊曉文) said. According to the poll, 50.4 percent of respondents said they would not have enough pension when they retire, and 74 percent said they expect the government to reduce pensions. From left, Taiwan Life Insurance Co executive vice president Yeh Pai-hung, National Chengchi University (NCCU) Department of Risk Management and Insurance professor Huang Hong-chih, NCCU Department of Money and Banking professor Sharon Yang and Taiwan Life Insurance Co Product Development and Actuarial Division Head Jean Lai attend a news conference in Taipei yesterday to announce the results of a survey on people’s retirement plans. Photo courtesy of Taiwan Life Insurance Co Ninety-five percent said they were worried about coverage under the nation’s public health system, while more than 60 percent said they were concerned about coverage under the long-term care system, the survey showed. While 74 percent of respondents said they had purchased medical insurance policies, long-term care insurance was much less popular, with only 35 percent saying they had bought such policies, the survey showed. NOT REALISTIC More than 50 percent said they hoped to live at retirement facilities with monthly expenses of less than NT$30,000, but Taiwan Life said that was not practical, adding that most respondents were not aware of how much money they need for retirement. On average, respondents in this year’s survey said they plan to allocate NT$8,216 per month to prepare for retirement, down from NT$15,086 last year, while they plan to save NT$6,528 yearly for long-term care plans, which was also down from NT$9,905 last year, the insurer said. “It might be the COVID-19 outbreak that reduced people’s preparation for retirement or long-term care, as people need to spend money fighting the pandemic,” Yang said. Nearly 40 percent of those who have not retired said they have not finalized their retirement plans yet, but for those who had, they plan to rely on fixed deposits for their retirement, Taiwan Life said. The poll, which was conducted in May, collected 1,202 valid responses. Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Taiwan Life Insurance Co Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Taiwan Life Insurance Co Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.