The Insurance of the Military Personnel (“the Insurance”) is based on this Act.

The Military Personnel stated in this Act refers to the ranking Officers, Non Commissioned Officers, and enlisted soldiers currently in service.

The Insurance covers 5 categories, including death, disability, retirement, parental leave without pay, and funeral expense of the dependents.

The Insurance is in charged by the Ministry of National Defense . The Insurance matters under this Act may be delegated by the authority in charge to other government agencies or public enterprises (hereinafter the “Insuring Agencies”) for execution.

All financial surplus of the Insurance shall be set aside as insurance reserves. The regulations governing management and utilization of the reserves shall be prescribed by the competent authority.
For handling fee payable to the insuring agencies for the Insurance, the central government shall budget regular fund and the amount shall never be over 3.5% of the total annual premium revenue.
With regard to the financial responsibilities of the Insurance, the retirement payments that shall be calculated and paid on the basis of the insurance coverage in accordance with the provisions prior to the Articles of this Act amended on 31 May 2013 came into force and the policy reserves have not been deposited accordingly shall be examined and compensated by the central government. The loss that occurred after the Articles of this Act amended on 31 May 2013 came into force, unless the occurrence due to war, armed conflict, or force majeure shall be examined and compensated by the central government, shall be compensated by adjustment of the premium rate.