IBK Pension Insurance Obtains Exclusive Usage Rights for the First Time Since Establishment

[Asia Economy Reporter Ki Ha-young] IBK Pension Insurance announced on the 30th that it has obtained exclusive usage rights from the Life Insurance Association's New Product Review Committee for the 'Non-dividend IBK Payback Variable Pension Insurance.' This is the first time since the company's establishment.

Exclusive usage rights are a monopoly sales authorization that prevents other insurance companies from selling similar products for a certain period to protect the pioneering benefits of insurance companies that develop creative new products.

Launched on the 13th, this product was recognized for its originality and usefulness as it refunds (payback) the guarantee cost paid by the contract holder to ensure the minimum pension reserve upon death, early termination, or pension commencement, thereby preventing the customer's principal loss risk and enhancing pension profitability.

Yang Chun-geun, CEO of IBK Pension Insurance, said, "With the acquisition of exclusive usage rights this time, we expect to help expand customer benefits and improve the perception of variable insurance," adding, "We will continue to secure differentiated product competitiveness unique to IBK Pension Insurance and continuously expand products and services that provide practical help to customers."

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