Taiwan: Taiwanese spend $4,998 a year on insurance
Source: Asia Insurance Review | Nov 2018
The financial regulator has urged Taiwanese to examine whether the insurance products they purchase meet their actual needs, as each person pays an average $4,998 on premiums per year.
Taiwan claims the top place globally in insurance penetration rate, reports Taiwan News citing data from the Taiwan Insurance Institute.
With the amount of money spent on insurance, people should take a closer look at the content of insurance products, judge whether the coverage suits them well, and arrange their assets in a wiser way, Financial Supervisory Commission chairman Wellington Koo said.
FSC will hold events to educate the public on the various insurance concepts, including senior insurance, microinsurance, earthquake insurance, and compulsory automobile liability insurance. A