NongHyup Life Launches Two Whole Life Insurance Plans with Long-Term Maintenance Benefits and Severe Dementia Coverage

[Asia Economy Reporter Oh Hyung-gil] NH Nonghyup Life Insurance launched on the 1st the 'Insaeng Dundeun NH Universal Whole Life Insurance,' which provides bonus reserves to customers who maintain insurance for a long period, and the 'All One NH Universal Dementia Whole Life Insurance,' which advances 50% of the death benefit upon diagnosis of severe dementia.

The Insaeng Dundeun NH Universal Whole Life Insurance consists of an increasing type and a basic type. If the increasing type is selected, the death benefit increases by 3% annually from age 80 to 89, while the basic type maintains the insured amount as is but has lower premiums compared to the increasing type.

Additionally, from the 37th premium payment until the end of the payment period, a monthly maintenance bonus of up to 5% is accumulated. For insured amounts under 50 million KRW, 1% of the main contract's basic premium is added; for amounts between 50 million KRW and under 100 million KRW, 2% is added; and for amounts over 100 million KRW, 5% maintenance bonus is added to the policyholder's reserve.

Subscription is available from age 15 up to a maximum of 70 years, with insured amounts ranging from 10 million KRW to 2.5 billion KRW. Premiums for the increasing type are 31,900 KRW for 35-year-old males and 30,400 KRW for 35-year-old females; for the basic type, premiums are 28,700 KRW for 35-year-old males and 26,200 KRW for 35-year-old females.

The All One NH Universal Dementia Whole Life Insurance provides death coverage and advances 50% of the death benefit upon occurrence of severe dementia. It also offers coverage for various disease risks such as cancer, stroke, and acute myocardial infarction through optional riders.

Optional riders include coverage for the first occurrence of mild diseases that frequently occur, such as cerebrovascular disease and ischemic heart disease, and a living support rider that pays living expenses upon the first diagnosis of the three major diseases (general cancer, stroke, acute myocardial infarction). For general cancer, there is also a re-diagnosis cancer coverage rider that supports diagnosis fees every two years upon re-diagnosis, strengthening the living-oriented riders.

Subscription is available from age 15 up to a maximum of 65 years, with insured amounts ranging from 10 million KRW to 300 million KRW. Premiums are 27,300 KRW for 30-year-old males and 25,100 KRW for 30-year-old females.

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