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🇹🇼 Taiwan /Crime & Justice

Taiwan Post Launches 'Designated Contact Person' Service to Protect Insurance Policyholders from Fraud

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Taiwan Post has launched a "Designated Contact Person" service to enhance fraud protection for life insurance policyholders, especially the elderly.
  • The service allows policyholders aged 65 and above to have their designated contact person notified via phone and SMS during high-risk transactions like policy loans or terminations.
  • This initiative aims to prevent fraud and protect older policyholders by involving family members in the notification process.

Taiwan Post has introduced a new "Designated Contact Person" service aimed at bolstering fraud prevention measures for life insurance policyholders, with a particular focus on safeguarding the elderly. Launched on March 14, this service allows policyholders to designate a trusted family member to be notified during significant or potentially risky insurance transactions.

The Designated Contact Person service allows policyholders to designate a contact person based on their needs. During the contract's validity period, they can process this with the designated contact person at any post office, bringing both individuals' national ID cards.

— Taiwan PostExplaining the procedure for setting up the service.

The service is specifically designed for policyholders aged 65 and above. When these individuals engage in high-risk activities such as applying for policy loans, making partial withdrawals, terminating contracts, or activating non-counter loan functions, Taiwan Post will proactively contact the designated person. This notification will occur via both a phone call and an SMS message, ensuring a dual-channel alert.

The designated contact person is limited to the policyholder's spouse, parents, children, grandchildren, or siblings. A mobile number must be provided for notification purposes. If communication details change, please notify us proactively to ensure notification rights.

— Taiwan PostDetailing the eligibility for designated contact persons and notification requirements.

The primary goal of this initiative is to provide an additional layer of security by involving family members. The immediate notification is intended to serve as a deterrent, offering a chance for family members to intervene or offer guidance, thereby reducing the risk of older policyholders falling victim to scams. This mechanism strengthens the protective net for senior policyholders.

When a policyholder aged 65 or older conducts high-risk life insurance business, such as policy loans, partial withdrawals, contract termination, or activating non-counter loan functions, Taiwan Post will proactively call the designated contact person and simultaneously send a text message.

— Taiwan PostDescribing the trigger conditions for notification.

Taiwan Post stated that it consistently promotes anti-fraud and elderly-friendly financial policies. The company believes that a collaborative approach involving the policyholder, their family, and the company itself is crucial for enhancing protection. They plan to continue refining these care and protection measures, improving the identification of potential victims, and optimizing early warning systems across their insurance services.

Through the timely care and reminders from family members, we aim to achieve a dissuasive effect, reduce the risk of elderly individuals being defrauded, and strengthen the risk protection network for senior policyholders.

— Taiwan PostExplaining the intended outcome of the service.
DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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