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May 30, 2017

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People more likely to buy insurance for others: poll

TAIPEI -- Taiwanese people tend to buy more insurance policies for other members of their families than for themselves, according to the results of a survey released Tuesday.

The poll, conducted by insurer Cigna Taiwan, found that the respondents had bought an average of 3.22 insurance policies for their family members, more than the average of 3.06 for themselves.

Although 95 percent of the respondents said they have medical or health insurance policies in addition to their national health insurance coverage, 67 percent of them are still planning to buy more, including policies for long-term care, dementia and dental care, the survey results show.

In Taiwan, people are willing to spend 16.5 percent of their annual income on insurance, with the total premiums reaching NT$75,000 (US$2,485.5) annually on average, the poll found.

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