Life Insurance Customers' Top Product Preference is 'Disease Insurance'

Survey on Insurance Preferences and Satisfaction Among 9,300 Samsung Life Consultants
Customers Prefer Products in Order of Disease>Actual Expense>Pension
Clear Trend of Higher Satisfaction with Longer Consultant Experience

[Asia Economy Reporter Oh Hyung-gil] Among life insurance products, the most preferred insurance product by customers was found to be 'disease insurance,' which covers various illnesses such as cancer and myocardial infarction. Additionally, insurance consultants with longer careers showed higher job satisfaction.

On the 21st, Samsung Life Insurance conducted an online survey targeting 9,738 in-house consultants, and the results showed that the most preferred product by customers was disease insurance (37.3%). This was followed by indemnity insurance (21.9%), pension (13.7%), and whole life insurance (10.5%).

Disease insurance is a policy that covers treatment costs, surgery fees, hospitalization expenses, etc., when the insured contracts a disease.

When asked about the important conditions customers consider when purchasing insurance, the highest response was the premium (33.2%). Coverage details (32.9%) and trust in the consultant (14.4%) also accounted for a significant portion. When asked why customers prefer insurance, the most selected reason was 'to prepare for diseases' (44.8%), followed by 'preparing for old age' (28.4%).

Job satisfaction among Samsung Life consultants was relatively high. Six out of ten consultants responded that they were satisfied with their work, with 15.0% saying 'very satisfied' and 45.3% 'generally satisfied.' On the other hand, only 5.4% expressed dissatisfaction, with 4.7% 'generally dissatisfied' and 0.7% 'very dissatisfied.'

Looking at the details, job satisfaction tended to be higher the longer the consultant’s career. The percentage of those who responded as satisfied ('very satisfied' or 'generally satisfied') was 56.7% for consultants with less than one year of experience and 51.7% for those with 1 to less than 3 years of experience, but it steadily increased thereafter, reaching 70.2% for consultants with over 10 years of experience.

When asked about moments they feel a sense of accomplishment as consultants, the most common answer was 'when insurance benefits are paid to customers' (37.2%). Other responses included 'when concluding insurance contracts to prepare customers’ protection assets' (32.1%) and 'when recognized as financial experts' (23.2%).

Regarding reasons for job satisfaction, the most selected were 'flexible use of time' (38.8%) and 'performance-based rewards' (33.5%). Respondents also cited 'self-realization as professional financiers' (15.6%) as an advantage, with additional comments including 'no mandatory retirement age.'

A Samsung Life Insurance official stated, "When wanting to subscribe to disease insurance, it is important to carefully review not only the premium level but also the coverage details. From a long-term perspective, it is necessary to regularly check subscription details with consultants to ensure thorough coverage planning."

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