Cathay Life Insurance highlights the importance of customised insurance plans for fathers at different life stages, urging families to review their cover in time for Father’s Day, with a focus on income protection, cancer, and age-related care.
With Father’s Day approaching, Cathay Life Insurance is urging families to take a closer look at whether the main earner in the household is properly protected. The company cites a child welfare survey showing that more than 60% of fathers remain the primary financial support for their families, meaning illness or an accident that interrupts income can quickly affect household budgets and daily life.
For new fathers, Cathay Life says the priority should be protecting their own earning power before focusing entirely on cover for children. The insurer recommends lower-cost term insurance, which provides a higher level of cover for a limited period, as a practical way to add cancer protection during years when family and work responsibilities are building. The company says this kind of policy can help ease the financial strain of a serious diagnosis by offering a lump-sum payout and nutritional support.
Middle-aged fathers face a different set of pressures, according to Cathay Life, as they are often balancing child-rearing, elder care and work at the same time. The insurer points to Taiwan’s latest cancer registry figures, saying cancers are concentrated in people over 50, who account for about 84% of cases. Against that backdrop, it suggests strengthening cover for cancers that are more common among men, including colorectal and prostate cancer, while also adding protection for prostate procedures and accidental fractures.
For older fathers approaching retirement, the company says planning should shift towards medical and long-term care costs rather than income replacement alone. It recommends cover aimed at age-related conditions such as cataracts, hip or knee replacement surgery and certain cardiovascular operations, along with benefits for specific degenerative diseases. Cathay Life says that kind of support can help preserve quality of life as health needs become more complex.
The insurer also says Father’s Day is a good moment to review whether existing policies still match a family’s needs. It is encouraging customers to use its app to check current cover, view AI-driven recommendations and consult advisers about any gaps.
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.
