BNK Gyeongnam Bank Launches '(Non-Face-to-Face) Pay in KRW, Save in USD Insurance'

Increase Dollar Assets by Paying Insurance Premiums in KRW
Apply Public Interest Rate with Annual Compound Interest Operation
Favorable for Securing Stable Returns

[Asia Economy Yeongnam Reporting Headquarters Reporter Son Tae-seok] BNK Gyeongnam Bank (President Hwang Yoon-chul) announced on the 7th that it is selling the ‘(Non) Pay in KRW, Save in Dollar Savings Insurance’ in partnership with MetLife Life Insurance Co., Ltd.

The (Non) Pay in KRW, Save in Dollar Savings Insurance allows customers to pay premiums in Korean won without currency exchange procedures and grow their dollar assets.

BNK Gyeongnam Bank is partnering with MetLife Life Insurance Co., Ltd. to offer the '(Non-)Pay in KRW, Save in USD Savings Insurance.'

In particular, it offers stable returns through a publicly announced interest rate (2.60% as of January 2020) compounded annually and a differentiated minimum guaranteed interest rate based on a 10-year term (2.00% for 10 years or less, 1.25% for over 10 years).

Additionally, if the basic premium for the main contract (monthly payment) meets the discount conditions, premium discounts or accumulation benefits are provided depending on the contract signing time selection.

Moreover, regardless of monthly or lump-sum payments, additional payments, temporary suspension of payments, and mid-term withdrawals are possible, providing high financial flexibility.

Subscription options include monthly payment and lump-sum payment. The subscription age for both 10-year and 15-year monthly payment terms is from 15 to 75 years old. For lump-sum payments, the 10-year term is from 15 to 70 years old, and the 15-year term is from 15 to 65 years old.

This content was produced with the assistance of AI translation services.