Kyobo Life Launches 'New Plus Hybrid Variable Whole Life Insurance' to Supplement Principal Loss

Kyobo Life Insurance announced on the 2nd that it has launched the 'Kyobo New Plus Hybrid Variable Whole Life Insurance,' which compensates for the risk of principal loss.

[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance announced on the 2nd that it has launched the 'Kyobo New Plus Hybrid Variable Whole Life Insurance,' which compensates for the risk of principal loss.

This is a variable whole life insurance that invests part of the premium in funds (stocks, bonds). If the fund's performance is good, the death benefit or accumulated amount increases, and even if the performance is poor, the death benefit and living expenses are guaranteed at a minimum.

By introducing a general whole life insurance conversion option, if the fund yield is good at retirement, the yield is fixed, and if the yield is poor, the accumulated amount (expected reserve) at the level of the premiums already paid is preserved.

The risk of principal loss can be compensated through this option, and it is also possible to change the insured to a child or spouse and transfer the contract.

During the economic activity period, death is guaranteed, and after retirement, living expenses of up to 90% of the insured amount can be received for up to 30 years. The starting age for receiving living expenses can be set between 45 and 90 years old, and the period for receiving living expenses can be chosen from 10, 15, 20, 25, or 30 years. A living expense accumulation system that accumulates living expenses at the announced interest rate can also be applied for.

A type with an increased stock inclusion ratio limit from the existing 30% to 50% has been added, and among the basic type with the same coverage amount and the 150% and 200% increasing types where the coverage amount increases by 5% or 10% annually for 10 years starting from 5 years after subscription, customers can choose.

In particular, if subscribed to the special rider related to specific calculation special cases, benefits are paid when registered as a special case for severe or rare diseases, reducing the burden of treatment or nursing care costs.

Subscription is available from age 15 up to a maximum of 70 years old. For the basic type, with a main contract insured amount of 100 million KRW, and a 20-year payment period, the standard rate for a 30-year-old male is 224,000 KRW per month, and for a 30-year-old female is 203,000 KRW per month.

When subscribing to a main contract of 100 million KRW or more, customers can receive 'Kyobo Healthcare Service II,' which adds psychological therapy, diabetes prevention and intensive management, and self-rehabilitation programs for artificial joint surgery to the existing health management program.

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