More than half (55%) of Taiwanese people believe that when unforeseen events occur in life - including unemployment, death, or being unable to work due to health reasons - their existing insurance is not sufficient for them to maintain their living standards, according to the findings of a survey by BNP Paribas Cardif.
In its "2024 Global Protection Insurance Consumer Survey Report", BNP Paribas Cardif also shows that only 6% of Taiwanese people believe that their safeguard measures are "very comprehensive", which is significantly lower than the Asian average (17%) and the global level (14%).
More than four-fifths (82%) of Taiwanese polled in a survey are most worried about falling ill suddenly. The findings also show that this worry is followed by "data protection" and "accidents".
The survey findings show too that as many as 37% of respondents say that what they are most worried about in life is that they or their family members could contract a serious illness or become disabled.
The report also mentions that eight out of 10 Taiwanese people have encountered difficulties when purchasing insurance products, leading them to give up purchasing coverage, a proportion that is higher than the Asian average. In addition to price being the main obstacle, people hope that the design of insurance products can be more transparent, simple, and easy to understand, and the coverage of insurance can be more comprehensive.