2. What is the qualification and benefit standard for claiming an old-age lump-sum benefits?
- Qualifications: Those insured person who is more than 60 years of age and the insurance coverage year is less than 15 years and who resigns from his/her job and withdraws from insurance coverage. (The benefit qualification age is the same with the old-age benefit and will be increased gradually.)
- Benefit Standards: For every one full year of insurance coverage seniority, one month of average monthly Insured salary would be issued; for the insurance coverage seniority less than one year, it would be calculated by the actual months proportionally; for the insurance coverage seniority less than 30 days, it would be counted as one month. The insurance coverage seniority after 60 years old, the maximum of 5 years would be counted.
※ “Average Monthly Insured salary” is calculated by averaging the highest 60 month of Insured salary during the insurance coverage years.