Go to Content Area

Policyholder servicesPolicyholder notice

Last updated:2023/02/03 Print

1.Duty of disclosure upon insurance

(1) Honesty in the duty of disclosure: When you are insuring the postal simple life insurance, please describe the past illness and current diseases on the application for insurance truthfully in detail according to the “matters of disclosure to insured.” If future findings reveal the active concealment of matters to be filled out in the foregoing article, or the negligence of omission, or false statement that could alter or lower the Company's assessment of risks, the Company may cancel the insurance contract accordingly. In case the accident of insurance takes place, Chunghwa Post may not pay for the insurance claims (Article 15 of the Simple Life Insurance Act)
(2) Where the premium has been paid for over one year and the Company is canceling the insurance contract, the applicant may, in accordance with the provisions under Article 21 of this Act, apply for a refund of the entitled policy value reserve and not other claims.

2.Pay for insurance premium

(1) The first and renewal premium of the base plan and rider shall be paid by remittance via post-office savings accounts. The payment terms and remittance accounts of the rider are the same as those of the base plan, and the premium of the base plan and rider shall be withheld together on the day of remittance for the main plan.
(2) For remittance via postal passbook saving, the details of payment (including the date, month of payment, amount, premium, and the appropriate year/month and insurance number) shall be printed on the postal passbook. Please check the inbound/outbound list of postal Giro savings after printing and distribution. For any error, please notify the postal branch in charge for investigation and processing.
(3) Grace period for renewal premium: The grace period for renewal premium is 3 months period commencing from the expiration date of the current payment. For example, if the contract validity day is January 20, 2005, the grace period of premium payment for February 2005 will be from February 20, 2005, to May 19 of the same year.
(4) For those choosing to withhold from the integrated postal saving account, if the account does not have sufficient balance to pay for the premium on the day agreed for payment withholding, the time deposit saving loan will be automatically activated to pay for the relevant premium and the interest incurred from such loan will be withheld from the postal passbooks at the end of each month.
(5) When the grace period for renewal of insurance premium expires and the premium is not paid, the validity of the insurance contract shall cease immediately. After the contract is lapsed, the company is not responsible for the insurance.

3.Automatic premium loan payment

To prevent lapse of contract, the applicant may select “automatic premium loan payment” accepted on the application form or agree to the automatic premium loan payment in writing during the validity of the contract.
(1) Automatic premium loan payment can avoid non-payment leading to the lapse of contract due to temporary negligence, affecting the rights and interests of the insurance. The automatic payment will help maintain contract validity and bring the function of insurance protection into full play. We encourage to utilize the service.
(2) The rider premium loan payment shall follow the terms and conditions outlined in the “Premium Loan Payment” clause. Both the base plan and the riders shall consolidate the premium and interest due for loan payment. After the expiration of the premium payment for the base plan, the rider premium shall be paid through a loan in continuation. If the applicant disagrees, the applicant will need to apply for termination of automatic premium loan payment. Nonetheless, after the base plan has applied for Reduced Paid Up (RPU) or extension of term life insurance, the premium and interests for the riders will not be paid through loan, nor could loan payment be applied.
(3) The function of the premium loan payment and in the maintenance of contract validity, regardless of the previous loan payment period as annual, semi-annual, quarterly, or monthly payment, the Company shall adopt one month of premium loan payment (contract formed after December 26, 2003, the premium value reserve under 1month is subject to payment per day), which premium shall be charged by monthly payment rate.
(4) Calculation of interest accrued from premium loan payment and payment for interest incurred from premium loan payment.
i. The interest accrued from the premium loan payment starts from the day of the loan payment and shall be calculated according to the policy loan interest rate of the contract, which interest shall be paid starting from the second day of the loan payment.
ii. The repayment of premium loan payment by the applicant shall be calculated with interest accruing up to the previous day of the payment receipt.
iii. The premium withheld through direct debit by contract shall be collected daily. After all interests incurred from the premium payment loan are connected, the premium for renewal shall be withheld for the precious payment terms by contract. Any in adequacy of saving deposit for repaying all premium loan and the interests, such payments can be repaid by installment, however, the repayment shall be paid monthly.

4.Apply for contract reinstatement

After the lapse of the policy contract, the applicant may apply for reinstatement of the contract with consent from the Company in 2 years, and the right to claim for reinstatement shall be waived. In case of the lapse of the base plan and the rider while the reinstatement for the base plan has not been applied, the rider may not apply for reinstatement independently.

5.Apply for termination of contract

(1) The applicant may declare the termination of the contract. The base plan (except for the one-year term life insurance) with a premium paid up to at least one year may apply for the policy reserve due from the refund. If the premium for the base plan is under 1 year, there will be no due policy reserve for refund. When the rider and the base plan for the one-year term life insurance terminate, the number of days of premium paid for current period without expiration shall be returned by ratio. When the contract of the base plan terminates, the riders may terminate by the expiration of premium paid for the current period of the rider.
(2) Midway termination of the contract shall render less premium paid for the policy reserve due to the sharing of risk loss and some management expenses of the businesses prior to termination. In the best interest of the applicant, please consider this carefully. Please refer to the policy reserve due for the contract in the past and the list and reduced paid-up for the table of premium amount or call the customer service center of the Company:0800-700-365.
(3) For the application of termination, if the payee is the beneficiary of the contract formulated before December 31, 2002. If the payee is the applicant for the contract (including rider) formed after January 1, 2003, the irrevocable and nominated beneficiary, double-lined, and business checks with restriction of non-endorsement shall be returned and issued.
(4) It is stipulated in Article 8 of the Simple Life Insurance Act, if the insured exercises the right to revoke, it is deemed that the applicant terminates the insurance contract.
(5) Meaning of policy reserves:
The policy reserve is based on the incidence rate for an anticipated risk and the anticipated interest rate of the premium, which shall be the reserve calculated by the requirement of competent authority. It is the foundation for life insurance policy in the calculation of policy loan, reduced paid-up insurance, the extension of term life insurance, change of insurance type, change of insurance amount, and termination upon returning the amount. The amount may vary according to the insured age of the insured, sex, and difference of insurance policy year.

6.Repayment of policy loan

(1) For premium paid up by at least one year with a valid contract, the applicant may apply for a policy loan within the highest loan limit. The contract was formed after December 26, 2003, with the unpaid loan interest exceeding the policy reservice, and the contract validity will suspend immediately. However, the company shall notify the policyholder in writing 30 days before the validity suspends.
(2) For current insurance policyholders of simple life insurance, apart from the application for policy loans and repayment via the postal counter, the Company has opened the automatic teller and online ATM borrowing/repayment for public convenience.
(3) ATM or Online ATM Borrowing:
The applicant and insured may apply for borrowing from ATM or online ATM (limited to the applicant and insured being the same person while the applicant has the capacity to make juridical act) to make an agreement. Then use the post office debit card set up by the applicant to process the policy loan from Chunghwa Post ATM or online(website:https://webatm.post.gov.tw)(card reader required).
(4) Policy repayment
The policy loan applied by the counter or via ATM or online ATM may be repaid to the policy by the post office counter, or via the ATM or online ATM. Choose “pay all interest,” “pay all interests and some principal,” or “pay interest only but not the principal” for repayment (ATM or online ATM repayment (requires card reader) and does not require application process).
(5) Interest calculation:
From the day the amount of the loan is appropriated, the interest for borrowing shall be calculated by simple interest per interest rate announced. The applicant may repay the loan and the interest shall be calculated up to the day before repayment. The interest rate is calculated by month, regardless of 30 or 31 days. The days constituting a month shall be calculated as monthly interest or else shall be calculated by daily interest rate. However, the repayment on the same day as borrowing, the interest shall be calculated by one day. The calculation formula is shown below: borrowing amount x borrowing annual interest rate x (borrowing months /12 + non-full-month days of borrowing /365) 【to be rounded off under 1 NTD】
(6) The contract applying for reduced paid-up for insurance may still apply for a policy loan. Nonetheless, the contract having applied extension of term life insurance may not apply for a policy loan.

7.Apply for a change of insurance type and coverage

(1) Contract conversion
i. Contract conversion refers to the conversion between different insurance types. The change of the same insurance type which a premium year shortened is not applicable.
ii. Contract establishment or reinstatement after one year period, and the valid contract over one year from the validity date of the previous contract, the applicant may apply to convert the original contract into the insurance type of conversion which the company allows (for more information, please refer to the local post office or the company's customer service center).
iii. Limitation for meeting the age for insurance type after conversion
iv. The number of payment months or due payment months of the previous contract may not exceed or be equal to the months of payment term for the new contract.
v. Those modified to reduced paid-up or extension of term life insurance may be excluded from the application.
vi. Restriction of contract conversion:
No conversion to insurance types that have been discontinued.
The contract after conversion is limited to the insurance type of conversion that the company allows.
36 types of insurance with a low benefit ratio (insurance benefit ratio = total insurance benefit amount / insured amount) may not be converted to insurance type with high benefit ratio.
The type of insurance with low anticipated interest rate may not be converted to insurance type with high anticipated interest rate.
Insurance type with different dividends may not be converted to one another.
(2) Change of payment year:
i. Limited to the shortening periods of payment for the same insurance type.
ii. The contract must be valid the apply only to the “current month premium.”
iii. Limited to the age of insurance type after conversion.
iv. The months paid or due payment months of the original contract may not be greater or equal to the payment expiration months of the new contract.
v. Those modified to reduced paid-up or extension of term life insurance may be excluded from the application.
(3) Change of insured amount:
i. The insured amount changed may not exceed the previous amount specified in the original contract, nor could it be lower than the minimum underwriting amount of the requirement, which reduction of insured amount shall be deemed as termination.
ii. The contract must be valid the apply only to the “current month premium.”
iii. Those modified to reduced paid-up or extension of term life insurance may be excluded from application
(4) For the contract after conversion or change, the applicability of high coverage/high premium/discount of centralized custody shall be recognized by the collection of premium in conformity with the high coverage / high premium / discount of centralized custody of the insurance type at the time.

8.Obligation for notice of change of address

The applicant shall notify the company by the counter in writing or other agreement (for precaution, postal notice of change of address will not be accepted) for change of address.
If the applicant does not notice, the Company shall deliver all notices to the last address indicated by the applicant on the contract.

9.Extinction of right to claim

The rights incurred from the insurance contract may extinct over 5 years of non-performance from the date of claim.


(1) Life insurance contract
In the event that any of the following circumstances occur with regard to an insurance contract, the insurer shall, other than following the provisions under Article 20 of the Simple Life Insurance Act, not be held liable for any claims:
i. The insured intentionally commits suicide within one year from the date of commencement or from the date of reinstatement of the insurance contract.
ii. The applicant intentionally causes the death of the insured.
iii. The insured is executed for crimes committed or dies when resisting arrest or breaking out of jail.
iv. The death of the insured is caused by war or other breakdowns of public order.
v. The liability of exclusions agreed by the contract clauses of various insurance types of Postal Simple Life Insurance.
(2) The injured rider
i. The Company may not be held liable for benefits in the death or disability of the insured due to the following reasons:
Intentional act conducted by the applicant and insured.
The intentional commitment of suicide or crime by the insured.
The insured drinks and drive (ride), whose breath or blood contains alcohol content exceeding the standard of road traffic law.
Wars (declared or not), civil war, or other similar armed upheavals, including but not limited to otherwise agreed by the rider.
The explosion, scorching, radiation, or contamination caused by atomic or nuclear devices, including but not limited to otherwise agreed by the rider.
In case the aforementioned circumstance (except for the intentional act of the insured) leads to injury and disability of the insured, the Company shall still give out the disability income benefits.
ii. In the event the insured engages in the following activities that lead to death or disability, except for otherwise agreed by the rider, the Company will not be held liable for the benefits.
The insured engages in wrestling, rassling, judo, karate, Taekwondo, Equestrian, boxing, and stunts as well as other competition or performance.
The insured engages in the car, scooter, and other free vehicles related to competition or performance.
(3) The health rider
i. In the event the following circumstances cause disease or injury to the insured with hospitalization or treatment, the company may not be held liable for the payout of various benefits.
The intentional act of insured (including committing suicide or attempted suicide)
Crime act of the insured.
The insured's illicit use of drugs identified in the Narcotics Hazard Prevention Act.
ii. In the event the insured is hospitalized for treatment due to the following incident, the company may not be held liable for the payout of various benefits.
Cosmetology and surgery, including but not limited to the necessary surgery required for rebuilding the basic function.
Visible congenital deformity.
The health examination, recuperation, rest, detox, drink cessation, nursing, or retirement and indirect treatment of patients.
Pregnancy, miscarriage, giving birth, and the complications, including but not limited to the agreement of this rider.
Infertility, In vitro fertilization, or other contraceptive and sterilization surgery without treatment purpose.

11、Preferential treatment of Postal hospital

(1)Policyholders who participate in the postal simple life insurance can enjoy preferential treatment if they bring insurance policy, health insurance card and identity card to Postal Hospital for medical treatment during the valid period of the insurance contract. Welcome to use it.
(2)If it is necessary to modify the preferential treatment of Postal hospital for any reason, the company may modify or terminate without notice.
(3)Postal Hospital phone:(02)2395-6755
Address:No. 14, Fuzhou Street, Zhongzheng District, Taipei City

12、Chunghwa Post Customer Service Center toll-free hotline and website

Toll-free hotline:0800-700365