Hanwha Life Launches Online Variable Insurance... "No Deduction of Business Expenses if No Investment Returns"

'Lifeplus Sangsang e-Sang Variable Annuity Insurance' Launched
Industry First, No Monthly Expense Deduction if Variable Insurance Investment Returns Are Absent

[Asia Economy Reporter Ki Ha-young] Hanwha Life announced on the 30th that it has launched the first variable product of its online direct insurance 'OnSure,' called 'LifePlus Sangsang e-Sang Variable Annuity Insurance.'

This product is the industry's first to link the variable insurance business expenses to the customer's investment returns, meaning that if there is no investment return, the business expenses for that month are not deducted.

Additionally, customers can choose the newly established 'Hanwha Income Plus Asset Allocation Fund' without needing to adjust asset allocation themselves, reducing their burden. When selecting this fund, a proprietary model periodically adjusts the portfolio in response to market conditions. It invests in global income assets to pursue stable performance through steady dividend and interest income. Three fund lineups are built according to stock and alternative asset inclusion limits (30%, 50%, 70%), allowing customers to select funds based on their risk preferences.

Even if customers want to select individual funds directly, suitable fund portfolios are suggested according to their investment tendencies to assist in fund selection.

The annuity payment types of this product include lifetime annuity (at ages 60, 70, 80, 90, 100, or guaranteed payment for life expectancy), fixed annuity (10, 15, or 20 years), and inheritance annuity, from which customers can choose.

LifePlus Sangsang e-Sang Variable Annuity Insurance is designed to reduce the guarantee cost burden according to the customer's investment tendency. It offers various options for minimum annuity reserve guarantees at 100%, 90%, 70%, and 0%. As pre-annuity commencement coverage, it pays 10 million KRW in case of 80% disability due to an accident.

The minimum subscription premium for this product is 100,000 KRW per month (120,000 KRW for 5-year payment), and the subscription age is from 19 to 63 years old. As an online-exclusive product, customers can subscribe through the Hanwha Life direct insurance OnSure site via mobile or PC.

Hanwha Life will also hold an event for customers who design the LifePlus Sangsang e-Sang Variable Annuity premium by the end of next month. Among customers who calculate the premium for this product on the OnSure homepage and enter the event, 300 will be selected by lottery to receive a CU mobile gift certificate worth approximately 5,000 KRW. The event results will be announced on June 11 on the OnSure homepage.

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