Long Term Care Insurance Plan

Taiwan Life Insurance Co. has suggested that long-term care insurance may be necessary for everyone given the current aging population and low fertility rates. 

According to Taiwan Life Insurance Co., those aged between 30 and 50 and who are the main income provider for a family are urged to make use of insurance products to mitigate the economic risks associated with long-term care. This will reduce family burden, providing an opportunity to enjoy quality health care and retirement, the insurance company said.

Those aged between 20 and 30 years old should also plan for their long-term care insurance while they are still young. To meet the needs of long-term care, Taiwan Life Insurance Co. is not only promoting the importance of the insurance and supporting the government's policy of long-term care, but also providing various long-term care insurance products for different needs.

The Ministry of Finance reported that from 2001 to 2013, 890,000 more single-person households were added to the Individual Income Tax's filing category. Households that had no dependents increased the most in number, by 550,000. 

The increased number reflects that the population who choose to remain single after reaching marriageable age has been growing year by year.

Households that include a spouse and more than two dependents reduced by 110,000, which also reflected the decline in fertility rates.

Meanwhile, among applicants above 31 years old, the group aged between 51 and 60 was the largest, indicating an aging society.