Nanshan Life launches a flexible, dollar-denominated whole life policy designed to address the financial challenges of an ageing society, combining protection, disability cover, and phased benefits for diverse life stages.
As Taiwan moves towards an ageing society, Nanshan Life is pitching a dollar-denominated whole life policy as a flexible way for savers to build protection across different life stages. The company says its Meili Bao Bei 3 product is designed to combine death cover, disability protection, premium waiver features and options for phased benefit payments, aiming to serve customers from early working life through retirement and inheritance planning.
The sales pitch leans heavily on household spending data from Taiwan’s Directorate-General of Budget, Accounting and Statistics. For younger household heads, the figures suggest annual disposable income can leave room for savings, but the company argues that many people still struggle to accumulate their first NT$1 million in their early working years. It also points to the cost pressures on families in their prime earning years and the much heavier burden facing older households, where annual spending needs and longer life expectancy can leave a significant retirement gap.
According to Nanshan Life’s product information, the policy is sold in US dollars and is a fixed-term payment whole life contract rather than an investment product. The company says premiums can be paid over 3, 6, 10 or 20 years, while policyholders can use dividends or accumulated value to buy extra one-year term cover before age 65, or to purchase paid-up additions that increase both cover and policy value. The policy also includes a waiver of premiums if the insured becomes disabled through illness or injury at one of six recognised levels during the payment period.
The insurer says the product can also be used to spread death or total disability benefits over 5 to 30 years, with unpaid sums continuing to accrue under the policy’s prescribed interest rate. Its terms further specify a 30-day waiting period for illness-related claims, that the contract does not participate in dividends and that it cannot be switched into a New Taiwan dollar policy. Nanshan Life’s wider protection offering similarly emphasises flexible payment periods and supplementary riders as a way to tailor cover to different budgets and needs.
Nanshan Life says its own customer data show demand spread fairly evenly across age groups, with younger adults, new parents, sandwich-generation households and people nearing retirement all represented. The company says about 55% of policyholders choose to use dividend payments to add one-year term cover, while a smaller share opt for paid-up additions. That pattern suggests buyers are using the policy less as a pure savings vehicle than as a way to extend protection for dependants, support retirement planning and, for older customers, leave a structured inheritance.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
