In light of the ongoing tariff war initiated by the U.S., Shin Kong Life announced on the 5th the launch of a premium deferment mechanism for policy renewals, viewing the situation as analogous to the significant damages caused by typhoons and earthquakes. This initiative aims to support policyholders in navigating short-term economic difficulties by offering both ‘premium deferment discounts’ for renewals and ‘interest deferment discounts’ on policy loans. The company hopes to assist clients in mitigating short-term economic shocks while reminding the public to remain vigilant regarding market fluctuations and investment risks.

Shin Kong Life explained that the rationale behind launching these services is the recent implementation of reciprocal tariffs by the U.S., which has triggered turbulence in global stock markets and significantly impacted the economy. The tariff war has led to a shrinkage in the wealth of policyholders, and unlike past natural disasters such as typhoons and earthquakes, there has been a lack of proactive support from life insurance companies for claims or waiving of administrative fees.

Policyholders who wish to apply for the ‘renewal premium deferment discounts’ or ‘interest deferment discounts’ on policy loans can do so by visiting customer service counters across the country or contacting sales personnel. They may also visit Shin Kong Life's official website for more information. Shin Kong Life emphasizes that it reserves the final review rights concerning the provided support services.