Taiwan FSC Eases Cross-Selling Curbs on Insurance-Proceeds and Elder-Care Trusts

Insurance-proceeds trusts allow banks to manage insurance payouts, while elder-care trusts help older people plan spending on living costs, medical treatment and care. The Financial Supervisory Commission’s easing of cross-selling rules has implications for senior-focused financial services and wealth succession, while allowing trust products to reach customers beyond banks’ own distribution channels.

The FSC said banks, securities firms, futures companies and other subsidiaries of financial holding companies would be allowed to promote insurance-proceeds and elder-care trusts across business lines, expanding customer access. The new rules could take effect as early as July this year. Authorities have yet to announce transaction-value thresholds, quantitative growth targets or an exact implementation date.