Prudential Life Launches '(Non) Pension Payment Type Annuity Insurance'... "Simultaneous Death Coverage and Retirement Pension Preparation"

Stable Retirement Security Possible with Confirmed Pension Amount

[Asia Economy Reporter Ki Ha-young] Prudential Life Insurance announced on the 1st that it has launched the '(Non-participating) Pension Payment Type Annuity Insurance,' which allows customers to prepare for both death benefits and retirement pensions simultaneously.

This product consists of ▲(Non-participating) Prudential 100-Year Satisfaction Pension Insurance and ▲(Non-participating) Prudential Pension Insurance, depending on the pension payment type selected at the time of contract signing.

In the case of (Non-participating) Prudential 100-Year Satisfaction Pension Insurance, if the insured dies before reaching 100 years old, the remaining pension amount can be received, which can be used for the living expenses of the bereaved family and inheritance funds.

Notably, this product reduces uncertainty by providing a fixed pension amount. During the death benefit period, it guarantees a compound annual interest rate of 2.25% (and 1.0% compound annual interest rate during the pension payment period), enabling stable preparation of retirement funds. The subscription amount starts from 30 million KRW, and customers aged between 15 and 55 can subscribe depending on the maturity. The pension commencement age selectable at subscription is from 55 to 70 years old in 5-year increments.

A Prudential Life Insurance official stated, "We planned a product that allows customers to prepare for both death benefits and retirement pensions to cope not only with accidents or illnesses but also with extended old age," adding, "We developed a product reflecting a fixed expected interest rate so that customers can prepare for a more stable retirement."

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