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Article 2 |
The term “insurance handling branches” as mentioned in the regulations hereof refers to those post office branches designated by Chunghwa Post Co., Ltd. (hereinafter called Chunghwa Post) to handle postal simple life insurance business.
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Article 3 |
Chunghwa Post shall set the premium rates of the insurance products as mandated in Article 4 of this Act based on the following factors: assumed interest rates of premium, mortality tables, experience tables of mortality and loading.
The assumed interest rates as mentioned in the preceding paragraph shall be set by Chunghwa Post depending on the current economy and the types of insurance.
The mortality tables and the various related experience tables of mortality as mentioned in the first paragraph shall be based on the citizen mortality table(s) compiled by the Ministry of Interior, the postal simple life insurance standard ordinary experience table compiled by Chunghwa Post or other related experience tables from Taiwan or abroad that are recognized by the Financial Supervisory Commission of the Executive Yuan（FSC）.
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Article 7 |
While reviewing an application, Chunghwa Post may refuse to underwrite a contract and notify the applicant of its decision should it consider the insured too unhealthy or the occupation of the insured too hazardous. Chunghwa Post may also decide to offer to lower the amount of insurance or shorten the period of insurance and underwrite the insurance after the applicant agrees to the changes.
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Article 8 |
All policies shall bear the signature or seal of the vice president in charge of the life insurance business of Chunghwa Post and shall be countersigned by the director of the Life Insurance Department and shall include the following entries:
1. The amount insured.
2. The type of insurance and the period of insurance.
3. The premium.
4. The name of the applicant.
5. The name of the insured.
1. The name(s) of the beneficiary.
2. The date the insurance contract goes into effect.
3. The number and contract the date of issue of the insurance policy.
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Article 19 |
When taking out a policy loan in accordance with the provisions under paragraph 1 of Article 23 of this Act, the amount of loan may not exceed 80% of the amount mentioned in paragraph 2 of Article 17 hereof.
The interest rate of the loan as mentioned in the preceding paragraph shall be set and publicly announced by Chunghwa Post.
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Article 25 |
When the number of employees or members and their families of any institution, school, factory, company, store or other government registered organization (which are not established for the purpose of purchasing insurance) reach a certain number, they may purchase group individual life insurance.
The minimum number as mentioned in the preceding paragraph shall be set by Chunghwa Post.
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