Page 52 - BLI-Brief Introduction

Brief Introduction
INSURE
Your Life

in 2007, the average life expectancy of 60-year- he/she and his/her dependents can claim relevant
old nationals was about 22 years, but the average pension benefits.
age of insured persons claiming old-age benefits in
a lump sum was 57.76 years old, and only a little 3. Connection between Labor
more than NT$1.07 million was paid per case on Insurance Pension and National
average, which was not enough for old employees Pension
and their dependents to live on. The labor insurance Insured persons who have participated in the
pension program implemented on January 1, 2009 labor insurance program for less than 15 years,
adopts a defined payment system, which will also but reached 15 years after the national pension
be adjusted according to the Consumer Price Index, coverage years are added, are also eligible to claim
resulting in more comprehensive protection for labor insurance pension benefits for their labor
Taiwan’s senior laborers. The features of the labor insurance coverage years.
insurance pension program are as follows:
4. Adopt the 60-month maximum”
1. Wide Range of Options Calculation Method
With the merging implementation of the pension Pension payments are calculated by averaging the
and lump-sum payment, if laborers have insurance highest 60 monthly insurance salaries, which is
coverage years before the implementation of the beneficial for senior citizens or women returning to
pension program, they and their dependents can workplaces who are facing reduced incomes.
opt for either pension or lump-sum payment when
claiming disability, old-age or survivor benefits. 5. Defined Payment System
It has the advantages of reallocating incomes as
2. Comprehensive Protection well as reducing the effects of inflation.
When an insured person turns old, disabled, or dies,

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