Fubon Hyundai Sells 'Executive Term Insurance' for Corporate and Individual Business Owners

Fubon Hyundai Life announced on the 6th that it will sell the 'Max Great Entrepreneur Term Insurance' targeting corporations or individual business owners.

[Asia Economy Reporter Oh Hyung-gil] Fubon Hyundai Life announced on the 6th that it will sell the 'Max Great Businessperson Term Insurance' targeting corporate or individual business owners.

This term insurance applies a fixed interest rate (fixed interest type compound annual interest rate of 2.6%) when calculating the surrender value, meaning the interest rate applied at the time of subscription remains unchanged until maturity. A long-term maintenance bonus reserve is additionally accumulated at 7 and 10 years from the contract date.

If subscribed with an increasing insurance benefit type (10% increase, 15% increase, 20% increase), the death benefit increases annually from 10 years after subscription until maturity.

Also, through the whole life conversion rider and annuity conversion rider, customized retirement planning for businesspersons is possible. When selecting the whole life conversion rider, the death benefit is guaranteed for life regardless of the insurance maturity, allowing it to be used as a source for inheritance tax.

If the annuity conversion rider is selected, the surrender value can be converted into an annuity at the time of retirement from business, which can be used as retirement funds.

The subscription age ranges from 20 to 70 years old, and the insurance period is up to 90 years old. The premium payment period is either 20 years or single payment, and depending on the type of increasing insurance benefit, one can choose between the basic type and increasing types (10%, 15%, 20%).

Even those with pre-existing conditions can easily subscribe, with eligibility from 30 to 70 years old.

For a 40-year-old male subscribing with an insured amount of 100 million KRW, 90-year maturity, single payment, and basic type, the monthly premium is 143,000 KRW.

A Fubon Hyundai Life official said, "This product adds stability to risks that may occur to businesspersons and can prepare for increased inheritance tax due to retirement planning and asset growth."

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