ABL Life Launches 'GI Whole Life Insurance' Providing Payouts for 8 Major Disease Diagnoses

ABL Life announced on the 4th that it has launched the 'ABL Health Dream Advance Payment GI Whole Life Insurance,' which allows policyholders to receive a portion of the death benefit in advance upon the occurrence of GI (General Illness) to use for medical expenses and living costs.

[Asia Economy Reporter Oh Hyung-gil] ABL Life announced on the 4th that it has launched the 'ABL Health Dream Advance Payment GI Whole Life Insurance,' which allows policyholders to receive a portion of the death benefit in advance upon the occurrence of GI (General Illness) to use for medical and living expenses.

Upon diagnosis of 'severe burns and corrosion,' 'major surgery,' as well as one of the '8 major diseases (cancer, cerebral hemorrhage, acute myocardial infarction, end-stage renal failure, end-stage liver disease, end-stage chronic pulmonary disease, severe aplastic anemia, Lou Gehrig's disease),' the policyholder will receive a diagnosis benefit equal to one of 50%, 80%, or 100% of the insured amount, depending on the type selected at enrollment.

If the insured dies after receiving the advance payment, Types 1 and 2 will pay the remaining 50% and 20%, respectively, and Type 3 will pay an additional 20% of the insured amount as the death benefit. If death occurs without the reason for advance diagnosis benefit payment, 100% of the insured amount will be paid as the death benefit.

Released as a partial surrender value payment type, a 40-year-old male and female subscribing to the main contract with an insured amount of 50 million KRW, 20-year payment term, and Type 1 (50% advance payment type) will pay monthly premiums of 147,500 KRW and 130,500 KRW, respectively.

Additionally, by utilizing the health grade application rider, the main contract premium can be discounted up to 8%, and optional rider premiums up to 10%, depending on the insured's health grade discount rate.

The eligible age for subscription is from 15 to a maximum of 71 years old, with an insured amount starting from 30 million KRW, and up to 200 million KRW for Type 1 (50% advance payment type).

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