The measurement of religiosity in current health-related literature is mostly based on the traditional Christian belief system. It has been argued that such a measurement approach may misrepresent the true degree of religiosity in Taiwanese people. In this study, religiosity was measured in two ways: self-reported religion type and a qualitatively derived index of religious piety based on principles as suggested by Gries, Su, and Schak to be used in the Taiwanese context. Their effects on dissociation, paranormal belief, and quality of life were juxtaposed for comparison. In addition, the beneficial effect of religious piety was examined in the framework of McClenon's ritual healing theory. A total of 266 healthy older adults across Taiwan were interviewed by four trained assistants over a 4-month period. Factor scores were used to represent the dissociative tendencies (depersonalization/derealization, forgetfulness, amnesia, and psychological absorption) and paranormal belief facets (precognition, psi power, other forms of life, traditional religious belief, superstition, and telepathy). The results showed that older people of high religious piety display better quality of life profiles than their counterparts in the low religious piety group. The effects of self-reported religion type were mainly seen with paranormal beliefs compatible with their religious beliefs, whereas the effects of religious piety were more pronounced in relation to quality of life than dissociation and paranormal belief. The beneficial advantage of dissociation hypothesized by ritual healing theory did not receive empirical support in the nonclinical sample of this study.