I have a son now. And I need life insurance. If I were to die today my wife would probably get a factory job and my son’s future might not be very bright.
Taiwan’s private insurance is very complicated…and covers a large array of payments for minor things.
I told them I just wanted “DEATH” not hospital stay.
They told me I could get 30 years of coverage at 19,000nt a year. And the payouts are rather large (depending on the type of death) averaging anywhere from 6-10 million ntd.
But after 30 years…and 570,000nt in payments…I’m not covered anymore.
If I want coverage that goes past the 30 year mark with no time limit (I’ll be 65 then) then the yearly price triples…which I can’t really afford. And in 30 years my son and wife won’t really need me to support them as much.
Opinions? Suggestions (regarding insurance)?