Taiwan postal service to convert offices into elder care centres

Long-term care insurance products to be released to help care for rapidly aging population

Taiwan postal service to convert offices into elder care centres

Insurance News

By Gabriel Olano

Chunghwa Post, the postal service of Taiwan, has identified six of its facilities that can be converted into care centres for the island’s elderly, amid the rapid greying of its population.

The company also said that it will roll out long-term care insurance products for elderly people by the last quarter of this year, reports the Taipei Times. An earlier survey revealed that majority of Taiwanese are unprepared for post-retirement medical costs.

Chunghwa Post is set to announce the list of underused offices this week, which could provide 70 beds each. This is part of its campaign, in cooperation with the Ministry of Transportation and Communications, to help address the challenges presented by the growing number of senior citizens.

The abundance of unused postal facilities can be attributed to the rise of electronics-based communication, which has lessened the need for physical mail and freed up lots of space.

Transportation and Communications Minister Hochen Tan believes that more of the company’s over 1,300 branches could be added to the list of soon-to-be-converted facilities. Chunghwa Post is deliberating whether it would lease out its buildings or become involved in offering long-term care services.

Meanwhile, it said that its long-term care insurance plans will have low premiums and high compensation and would pay out according to the medical condition of the insured person.



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