Samsung Life Launches Dundeun Plus Whole Life Insurance with Reduced Premiums

Samsung Life announced that starting from the 9th, it will sell the 'Dundun Plus Whole Life Insurance,' which offers lower premiums compared to the existing whole life insurance.

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 7th that it will start selling the 'Dundun Plus Whole Life Insurance,' which offers lower premiums compared to existing whole life insurance, starting from the 9th.

This insurance is designed as a low-surrender-value type, which reduces the refund amount by up to 30% during the premium payment period compared to existing whole life insurance, but increases the refund rate after the payment period ends. Premiums can be reduced by up to 16% compared to existing whole life insurance.

It is sold in two types: the basic type with a fixed death benefit and the increasing type with a rising death benefit. The increasing type strengthens death coverage by increasing the death benefit by 3% annually for 20 years starting at age 60. For example, if you choose an increasing type death benefit of 100 million KRW, the death benefit before age 60 is 100 million KRW, but from age 60 it increases by 3% (3 million KRW) each year, reaching 160 million KRW at age 79.

Also, the refund rate is increased at the point when premium payments are completed. Previously, only the increasing type with a rising death benefit had a refund rate exceeding 100%, but this product is designed so that even the basic type with a subscription of 70 million KRW or more exceeds a 100% refund rate.

The long-term maintenance bonus benefits for customers who keep the insurance for a long time have also been enhanced. At the time of premium payment completion, an additional amount ranging from a minimum of 1% to a maximum of 10% of the main contract's basic premium is added to the reserve fund.

The subscription age ranges from 15 to a maximum of 75 years old, and the premium payment period can be selected from 7, 10, 15, or 20 years.

A Samsung Life Insurance official said, "This product focuses on death coverage, the essence of whole life insurance, with reasonable premiums," adding, "It is suitable for customers who want to prepare for risks that may occur throughout their lives from a long-term perspective."

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