News eDaily13 Jun 2017

Taiwan:Life coverage grows for 8th year in a row last year to 240%

13 Jun 2017

Life insurance coverage in Taiwan continued to grow for the eighth year in a row last year, reaching 240.35% compared to 234.16% in 2015, according to data from the Taiwan Insurance Institute. This means that every Taiwanese had an average of 2.4 life insurance policies last year.

In 2016, Taiwanese people spent an average of NT$139,310 (US$4,621) to buy insurance, up from the previous year's NT$130,376, a net increase of NT$8,934.

Of the NT$139,310, the bulk or NT$133,109 was spent on life insurance premiums, with NT$6,201 spent on property insurance premiums.


 

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