Nanshan Life Launches 'Xiangshou Yi Bai' Long-Term Care Insurance

33 years later, the total dependency ratio will reach 100%. The sandwich generation's pressure will be off the charts. According to the Ministry of Health and Welfare's Elderly Situation Survey, over 80% of middle-aged and elderly people hope to live with their spouses, children, grandchildren, or friends; their top three concerns are their own health and care issues (disability, dementia), their spouse's health and care issues, and economic sources. Among the middle-aged and elderly population aged 55 and above in Taiwan who need care, 66.46% are cared for by spouses, children, siblings, parents, or grandchildren (Note 1), with an average care duration of 7.8 years and over 11 hours a day (Note 2). Such companionship puts immense pressure on both parties and makes family financial burdens heavier. Having someone to accompany and care for you when you are elderly or sick is many people's expectation. By the end of 2025, Taiwan's population aged 65 and above will officially exceed 20%, with those aged 85 and above accounting for 2%, approximately 460,000 people (Note 3). According to the National Development Council's estimates, in 33 years, that is 2059, the total dependency ratio will reach 100%, meaning the population of children under 14 and elderly over 65 will exceed the working-age population of 15 to 64. The sandwich generation's pressure will gradually 'explode' (Note 4). Meanwhile, Taiwan's fertility rate continues to decline. In the first five months of 2026, the number of newborns was only 39,000, a decrease of 7,518 from the same period last year, and the annual number of newborns may drop below 100,000 (same as Note 3). The population continues to decline negatively. According to the National Development Council's estimates, by 2070, the population aged 65 and above will have 6.97 million, accounting for 46.5% of the total population, and the working-age population of 15 to 64 will also have 6.97 million. One working person will have to support one elderly person. Among those aged 85 and above, by 2070, there will be 2.19 million (same as Note 4), and the degree and difficulty of care needed will be higher. The average care duration for the elderly is 7.8 years, requiring at least NT$2.25 million. According to the Ministry of Health and Welfare's 2022 Elderly Situation Survey, about 250,000 people aged 55 and above use home care or day care services, about 16,000 employ local caregivers with an average monthly cost of NT$33,000; about 150,000 employ foreign caregivers with an average monthly cost of NT$29,000; about 98,000 use institutional care with an average monthly cost of NT$24,000. If calculated based on an average care duration of 7.8 years, at least NT$2.25 million is needed. If care is entirely reliant on family, the primary caregiver may need to reduce working hours or even quit their job, which in the long run, affects family finances and relationships, and may even impact the primary caregiver's physical and mental health (same as Note 1, Note 2). Nanshan Life's 'Xiangshou Yi Bai' Long-Term Care Whole Life Insurance Nine Features: Hoping for love to accompany but not wanting to become a burden, Nanshan Life's Century Life Series launches 'Nanshan Life Xiangshou Yi Bai Long-Term Care Whole Life Insurance (HRLTC3)' (hereinafter referred to as 'Xiangshou Yi Bai', Note 5), with nine features: 1. To meet the needs of a century-long life, the insurance period is extended to the end of the policy year when the insured reaches 100 years old; 2. When meeting the long-term care status or complete disability, a one-time insurance benefit of 50% of the sum insured 'Long-Term Care/Complete Disability One-Time Insurance Benefit' is paid first, serving as a reassurance when sick, allowing for peace of mind in treatment; 3. Provide auxiliary equipment subsidy insurance benefit, when meeting the long-term care status or complete disability, according to the sum insured 25% to pay 'Long-Term Care/Complete Disability Auxiliary Equipment Subsidy Insurance Benefit', can subsidize the cost of home environment transformation or auxiliary equipment. (For detailed payment terms, please refer to the policy terms) 4. According to the sum insured, pay 'Long-Term Care/Complete Disability Installment Insurance Benefit' up to 15 times, each time increasing the payment amount by a simple interest of 2%, helping to mitigate the impact of inflation; 5. According to the sum insured 10%, pay 'Long-Term Care/Complete Disability Respite Service Care Insurance Benefit' up to 15 times, helping caregivers have temporary rest opportunities; 6. If the insured becomes disabled from level 1 to 6 or meets the long-term care status during the period, a premium waiver mechanism is provided; 7. Continuously meeting the long-term care status, after four consecutive payments of long-term care installment insurance benefits and respite service care insurance benefits, starting from the fifth period, only the insured's survival certificate is required, and no longer need to attach the Barthel Index or Clinical Dementia Rating Scale and other relevant documents, reducing the burden of providing relevant certificates; 8. It has an overflow mechanism. When the insured age at the time of application is 16 years old (inclusive) and above, the physical condition meets the standard, starting from the third policy year, enjoy the health promotion additional protection; 9. There is a death insurance benefit/longevity insurance benefit, making the protection plan more complete. Long-term care insurance has been promoted for 30 years, with an effective contract subscription rate of about 5% (Note 6), leaving much room for improvement. Long-term care or disability is not only happening to the elderly. According to Nanshan Life's long-term care claim analysis, stroke, cancer, accidents, and dementia are the top four causes of long-term care claims. Apart from dementia claims under 54 years old accounting for about 7%, stroke long-term care claims under 54 years old account for about 33%, cancer long-term care payments under 54 years old account for about 29%, and accidents causing long-term care payments under 54 years old account for 52%. Therefore, it is recommended to plan for long-term care protection when young, when premiums are relatively affordable. When entering a long-term care status, if home care is needed, it may require environmental modifications such as removing thresholds, renovating bathrooms, adding bathing or toilet aids, purchasing mobility aids, and safety monitoring systems. Although the government provides subsidies and can rent or purchase these items, they still incur costs. 'Xiangshou Yi Bai' provides auxiliary equipment subsidy insurance benefits, increasing financial confidence in care; another aspect is the long-term care of the primary caregiver, which affects their physical and mental health, sometimes requiring a 'substitute' for temporary respite. 'Xiangshou Yi Bai' also provides up to 15 times respite service care insurance benefits, giving caregivers warm support. In the movie 'Me Before You', although the disabled male lead loves the female lead's care and companionship, he does not want to become a burden preventing her from experiencing the world. Nanshan Life's launch of 'Xiangshou Yi Bai' long-term care insurance aims to help address long-term care risks in a century-long life, arranging long-term care safety nets for oneself, and allowing family members to continue accompanying with financial support. Nanshan Life reminds consumers to carefully understand the coverage, exclusions, and risks of this insurance product before purchasing. When purchasing the above insurance products, it is important to confirm that the coverage and payment methods meet your own needs to effectively fulfill the risk transfer function of insurance products. For detailed product content, payment-related regulations, notes, and relevant warnings, please refer to the product introduction and policy terms, or contact Nanshan Life's insurance agents, call the customer service center at 0800-020-060 (address: No. 168, Zhangjing Road, Xinyi District, Taipei City), or visit Nanshan Life's corporate website at https://www.nanshanlife.com.tw. According to Article 112 of the Insurance Act, death benefits of life insurance and definite annuity benefits of annuity insurance paid to designated beneficiaries upon the insured's death shall not be considered as the insured's estate, unless there are circumstances of tax evasion or other tax-related matters, the tax authorities may still handle them according to relevant tax laws or the substantial taxation principle stipulated in Article 7 of the Taxpayer Rights Protection Act. Note 1: Ministry of Health and Welfare 111 Elderly Situation Survey Report https://dep.mohw.gov.tw/DOS/lp-5095-113.html Note 2: Ministry of Health and Welfare 106 Survey Report - Main Family Caregivers https://dep.mohw.gov.tw/DOS/lp-5095-113.html Note 3: Ministry of the Interior Population Statistics https://www.ris.gov.tw/app/portal/346 Note 4: National Development Council Population Estimation Report https://pop-proj.ndc.gov.tw/default.aspx Note 5: Nanshan Life Xiangshou Yi Bai Long-Term Care Whole Life Insurance (HRLTC3) Payment Items: Complete Disability One-Time Insurance Benefit, Complete Disability Installment Insurance Benefit, Complete Disability Auxiliary Equipment Subsidy Insurance Benefit, Complete Disability Respite Service Care Insurance Benefit, Long-Term Care One-Time Insurance Benefit, Long-Term Care Installment Insurance Benefit, Long-Term Care Auxiliary Equipment Subsidy Insurance Benefit, Long-Term Care Respite Service Care Insurance Benefit, Premium Waiver, Longevity Insurance Benefit, Death Insurance Benefit or Funeral Expense Insurance Benefit This insurance is a non-participating policy, does not participate in dividend distribution, and has no dividend payment items. The health promotion coefficient of this insurance is only applicable to those whose insured age at the time of application is 16 years old (inclusive) and above. Due to the consideration of the lapse rate in the rate calculation, this insurance has no surrender value. The liability exemption period of this insurance is 90 days. If the insured has a disease that results in a disability of levels 1 to 6 (excluding complete disability level or long-term care status) at the time of application, the waiting period is 30 days. This insurance may have a situation where the accumulated premiums paid exceed the death insurance benefit payment. ROC 115/06/19 Nanshan Research Letter No. 1150000081 for reference. Note 6: Life Insurance Association of Taiwan Aging Special Zone