04.2025 Life Guide

Make good use of the "insurance passbook" policy management without any worries

Far Eastern International Bank / Wu Guanli

　　When we receive a medical examination notice, we will carefully arrange time for a health check, but do you also attach equal importance to the "insurance" that is crucial for protecting life? In daily life, we often hear the troubles of family and friends: "unable to find the policy", "unable to understand the coverage", and even worrying about missing out on claims when we need financial support the most. This issue of 'Finance Column' introduces the 'Insurance passbook' launched by the Life Insurance Industry Association (hereinafter referred to as the Life Insurance Association). It is like a caring insurance manager, always reorganizing every protection for you, making the power of protection within reach.

What is an insurance passbook?

According to the Insurance Development Center (hereinafter referred to as the Insurance Development Center), each citizen holds an average of 3.16 insurance policies. In the past, many people used to have face-to-face interactions with Junior Staff Sales Representatives to complete policy health checks and sign contracts. Sometimes, they had to apply for claims and personally travel around. Until the outbreak of Covid-19, which changed our way of life, disrupted the insurance service model, and gave rise to opportunities for digital transformation of insurance services.

In order to ensure that policyholders can receive comprehensive services even without physical contact, in July 2020, the Life Insurance Association, under the guidance of the Financial Supervisory Commission, partnered with 24 property life insurance companies to establish an "Insurance Technology Application Sharing Platform", providing convenient services such as "single application, document exchange".

In June 2022, the Life Insurance Association further collaborated with 22 life insurance companies, 14 property insurance companies, and related institutions to create an "insurance passbook" platform. After registering as a member through a computer or mobile phone, the public can easily check their personal and group insurance, including life insurance, property insurance, and other insurance coverage status at a glance. In addition, the platform integrates the "Insurance Claims Medical Start" and "Claims Alliance Chain 2.0" services. Users only need to apply to one of the insurance companies to complete cross company OTC claims, realizing a paperless claims process and saving the hassle of commuting.

Register as a member on the "Insurance passbook" platform through a computer or mobile phone, and you can check your personal insurance coverage status at any time. Image source/Life Insurance Association

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What information can be found in the insurance passbook?

　　The information displayed on the insurance passbook platform comes from valid policies of the insured and policyholder, as well as insurance contracts that have expired within two years, including: insurance company name, insurance type classification, product name, policy number, contract effective date, coverage amount, policy, and effectiveness status. If you want to further understand more detailed contract content such as change records, termination benefits, beneficiaries, etc., you need to inquire with each insurance company.

　　In addition, the search scope is limited to the policies of the policyholder or insured. For example, if the father is the policyholder and helps the child purchase insurance policies, the father can see all policies with the father as the policyholder (including policies purchased for the child) after joining the Platinum membership. However, if the mother buys policies for the child, they cannot be seen under the setting of the father as the policyholder.

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How to use an insurance passbook?

The application process for an insurance passbook is quite simple. As long as you are over 18 years old and have legal capacity, you can register. The steps are as follows:

1. Log in to the "Insurance passbook" page of the Life Insurance Association.

2. Confirm the personal statement matters.

3. Choose an identity verification method (natural person certificate, enhanced MID, or chip financial card).

After successful registration, you will become a regular member and pay an NTD 100 annual fee to upgrade to a platinum member (renewed NTD 75 the following year). You can check all policy information unlimited times within one year. Compared to the past when applying for a reissue of paper, which required paying NTD350 for the production fee and waiting for several days to obtain the information, the insurance passbook is not only more cost-effective, but also has a more convenient and immediate query process.

Digitalization of policies to implement inclusive finance

At present, the membership of the "Insurance passbook" platform has exceeded 600000 people, with an annual growth rate of over 30%. The membership structure is mainly composed of young and middle-aged people, with about 83% aged 18 to 49, about 100000 people aged 50 and above, and about 6000 people aged 70 and above. The "Claims Alliance Chain" platform has processed a total of 1.5 million cases, with a claims amount of nearly NTD 75 billion. According to observations from the Life Insurance Association, there are three main requirements for member registration:

1. Understand the individual's policy status and plan appropriate insurance.

2. Check the policy status of elders.

3. Assist Junior Staff Sales Representative in conducting policy health checks.

This financial innovation platform integrates resources across insurance companies and units by the Life Insurance Association to ensure personal asset safety and consumer rights, demonstrating the determination of the insurance industry to give back to society while balancing sustainability and profitability. In the future, it will continue to optimize services and practice the concept of inclusive finance.

The benefits of using an insurance passbook

There are always unexpected moments in life. Imagine a family of five, where each member has 10 different types of policies. When an accident occurs, simply searching for suitable policies can be overwhelming, let alone confirming the contents of each policy one by one. Now, with the 'Insurance passbook', you can easily access all policy information on your mobile device and face challenges with ease. Its advantages include:

1. Convenient management: Centralize the recording of insurance content and keep track of policy status at any time.

2. High transparency: Understand the effectiveness of the policy and avoid information asymmetry.

3. Real time inspection: Adjust protection needs in a timely manner in response to changes in the living environment.

Insurance is a kind of love planning and risk transfer

Life is like a journey full of surprises, and insurance is a reliable backing during the journey. The public can ensure the most appropriate protection at every stage, from basic protection, short - and medium-term funding needs to retirement planning, through insurance passbooks and regular health check policies. Even if there are changes in family income or structure, it is possible to timely review and adjust the policy content, fill the protection gap, and maximize the benefits of insurance, building a reassuring protective net for loved ones.

If you want to learn more about insurance expertise and plan the most suitable insurance for yourself, you can search for the Far Eastern International Bank Podcast channel "Ten Delights to Enter Life Without Money" - P7 Insurance is different from what you think, allowing insurance experts to introduce you to insurance matters from a warm perspective. We also invite you to make an appointment with Far Eastern International Bank's professional service team for consultation and work together to create a dream blueprint. Welcome to leave a 5-star review on the Ten Music No Podcast and share your thoughts in the comments section! (Reference: Statistics from Life Insurance Association and Insurance Development Center)

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