NH Nonghyup Life Launches Two Types of Whole Life Insurance with Double Death Benefit

NH Nonghyup Life announced on the 3rd that it will introduce the 'Double Plus NH Whole Life Insurance,' which features death benefits that increase annually, and the 'Simple Double Plus NH Whole Life Insurance,' which is available to individuals with hypertension and diabetes.

[Asia Economy Reporter Oh Hyung-gil] NH Nonghyup Life announced on the 3rd that it will launch the 'Double Plus NH Whole Life Insurance,' which increases the death benefit every year, and the 'Simple Double Plus NH Whole Life Insurance,' which is available to those with hypertension and diabetes.

The Double Plus NH Whole Life Insurance increases the main contract death benefit by 5% annually from the time of subscription. For up to 20 years, the death benefit increases by 100% of the insured amount, guaranteeing a maximum of 200% death benefit. Additionally, a plus support fund is accumulated upon completion of premium payments. Depending on the insured amount and payment period, up to 4.5% of the premiums already paid is added as a plus support fund.

If you subscribe to the Disability Diagnosis Premium Refund Rider, when you become disabled at 50% or more during the payment period, all previously paid main contract premiums are refunded. Premium payments are waived, and the main contract coverage is maintained for life.

The Simple Double Plus NH Whole Life Insurance also increases the death benefit by 5% annually, guaranteeing up to twice the main contract insured amount. Those with a history of hypertension or diabetes can subscribe if they do not fall under any of the following three disclosure items: ▲ medical opinion on hospitalization, surgery, or additional tests within 3 months ▲ hospitalization or surgery within 2 years ▲ diagnosis, hospitalization, or surgery due to cancer within 5 years.

There is also a simple subscription diagnosis rider for the three major diseases?cancer diagnosis, minor cancer diagnosis, cerebral hemorrhage, and acute myocardial infarction?allowing for health coverage planning.

The subscription age for Double Plus NH Whole Life Insurance is from 15 years old up to a maximum of 63 years for men and 67 years for women, while for Simple Double Plus NH Whole Life Insurance, it is from 30 years old up to a maximum of 61 years for men and 66 years for women.

The premium for a 40-year-old male with an insured amount of 10 million KRW, partial surrender value type, 20-year payment, monthly payment is 49,200 KRW for Double Plus NH Whole Life Insurance and 51,600 KRW for Simple Double Plus NH Whole Life Insurance.

Kim In-tae, CEO of Nonghyup Life, said, "To welcome the new year, we have launched new products to expand customer choices so that they can subscribe according to their individual situations. We will continue to launch various products so that more customers can receive reliable coverage."

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