The local COVID-19 Pandemic is severe, and with the sudden death cases after vaccination, the bank industry noticed the inquiries for Insurance Trust have recently soared. Zhao, Zi-Ren, the Senior Manager of Trust Department of Cathay United Bank, pointed that Trust has the advantage of specific fund for specific purpose. This could effectively ensure assets be used to take care of future life of himself and his family, as well as preventing financial fraudulence under aging society and avoiding assets to be misused at his old age. Trusts can be considered to be the publics’ essential financial management tool in this high risk century.

In preventing insurance beneficiaries becoming dishonest persons’ target, the Financial Supervisory Commission of R.O.C. (the “FSC”) announced “Death, Total Disability and Maturity Insurance” Insurance Policy in 2015, and may collect claim through “payment by instalment”. To specify the usage purpose and manner of insurance, it must be done by the way of trust. Zhao gave an example that the public may state the beneficiaries to be assigned with a larger sum when studying abroad, starting up business or marriage. At the same time, they may set a supervisor in the trust, and when there are any unexpected situations or extra demands, the supervisor could assist the trusted bank to judge for the trust fund payment in ensuring to fulfill the trustee’s will and beneficiaries’ interests.

The FSC gave an example that, Ms. Wang at her age of 36 who was a single mum, raising a 7 year old child on her own, ...