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FSC further increases protection provided by micro-whole-life insurance

2021-04-12
In order to increase the insurance coverage enjoyed by Taiwan citizens, the FSC on 23 February 2021 once again provided for higher insured amounts and broader coverage under micro-whole-life insurance by issuing an amended version of the "Directions for Micro-Whole-Life Insurance," which will enter into force from 1 July 2021. Key points of the amended provisions are as follows: (a) the maximum insured amount under micro-whole-life insurance has been increased from NT$500,000 to NT$700,000; and (b) in coordination with the higher maximum insured amount, the maximum number of in-force policies that one person may hold has been increased from two to three. These revisions are designed to help citizens meet their insurance needs, and to enable people to plan out their insurance purchases more flexibly.
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  • Update: 2021-04-12
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