Taiwan’s New Era in Aging
Taiwan Life Insurance Co., Ltd.
INTRODUCTIONBy 2026, Taiwan will become a super-aged society. Because Taiwan Life sees the needs and disparities of this aging society, the Company cooperates with social welfare organisations and social enterprises to make action plans that range from Aging in Place to Active Aging. The goals are to achieve long-term care for the disadvantaged; to allow for and implement Aging in Place and Active Aging that are aligned with international standards; and to establish an age of Independent Aging.
FRAMEWORK AND STRATEGYTaiwan Life’s goals are to comply with governmental longterm care policies and achieve the goal of Aging in Place, as well as to stay ahead of trends and promote health, thus further achieving the goal of Active Aging. Through investment in senior welfare, the Company has worked with NPOs and social enterprises to implement social issue action plans.
- Supplying corporate resources focused on long-term care gaps, to help disadvantaged persons neglected by long-term care policies, and thus achieve the goal of Aging in Place.
- Using health promotion to reinforce Active Aging and delay disability, thus increasing seniors’ self-health management abilities and lowering healthcare costs. This creates a win-win-win for the public, society at large, and the corporation.
- While aligning with international standards, using youthsenior collaboration and generational understanding to renew attitudes toward seniors; using creative change to welcome in an age of Independent Aging.
ACHIEVEMENT AND IMPACT
- Training long-term care talent: Established a scenario training center. 3,365 long-term care trainings completed, employment rate 47%; more than 1,700 participations in international curricula.
Elder care in remote areas:
- In-Home Bathing: Care provided 685 times over two years to seniors in remote areas and with physical/mental disabilities.
- Medical Care Companions for Solitary Elders: Service provided 606 times over two years.
- Made documentary films about in-home bathing service; “A Long Way to the Hospital” calls for public recognition. The two films won the Critics’ Choice Award and the Outstanding Award for Social Understanding at the 2019 Taipei Golden Eagle Micro-Movie Festival.
- Active Aging: Both mental and physical health for seniors, using family support to help elders actively manage their own health. Family Power Walk held for seven years, totaling 500,000 hours of companionship and 100,000 participants.
Alignment with international ideals:
- Stanford Design Challenge Asia: 136 entrants over two contests, with 61 schools participating. Two 2018 entrants reached global-level Stanford Center on Longevity Design Challenge and won 3rd place.
- Held international forum; participants from 11 countries, 30 speakers, and more than 1,500 longterm care workers attended.
- Young and Old Joint-Learning: From 2017 to end of 2018, held 51 Young and Old Joint-Learning activities. More than 2,300 seniors and children participated.
FUTURE DIRECTIONAccording to National Development Council estimates, Taiwan’s population aged 65 or more will hit 20% by 2026, and 40% by 2065. Clearly, issues of aging will only become more serious. Because of Taiwan Life’s projects, long-term care training, support in remote areas, and other services will all continue. In addition, there is constant need to renew attitudes toward aging, and to align with international standards for long-term care. We continue to innovate and change to meet trends. As a result, project sustainability is both certain and positive, with a continuous development cycle.
Taiwan Life Insurance Co., Ltd. established Taiwan’s first insurance company which provide individual, annuity and group insurance products including life, AD&D, health insurance. Taiwan Life became a 100% owned subsidiary of CTBC Financial Holding in October 2015. Taiwan Life was ranked as 49th worldwide in 2018, with brand value of USD 2.1 billion