According to the statistics compiled by the Ministry of Economic Affairs, it is estimated that the senior population of 65 years or older in Taiwan would reach 15% by 2019 and 20% by 2025. Apart from the severe problems with an aging population, the trends of low birth rates in Taiwan also aggravate to the situation. As the trends of low birth rate and aging society in Taiwan becomes more severe, the protection of the financial living and retirement plans for seniors become the foremost important issues now.
In fact, the main purpose of purchasing insurance is to prevent the expenses derived from “dying too early” and “living too long.” “Dying too early” could lead to loss of family income while “living too long” needs to face continuous living expenses and medical expenditures. To provide adequate supply to the financial sources for “living too long,” a retirement plan through insurance products is absolutely necessary.