Hanwha Life Launches 'Easy Enrollment The Special Variable Universal Whole Life Insurance 2206'

[Asia Economy Reporter Changhwan Lee] Hanwha Life announced on the 2nd that it has launched the 'Easy Enrollment The Special Variable Universal Life Insurance 2206.'

This product is an 'easy enrollment variable universal life insurance' that allows elderly and medically underwritten individuals to easily subscribe to variable insurance.

The company emphasized that with the launch of this product, the range of choices has expanded for elderly and medically underwritten customers seeking returns higher than the inflation rate.

It explained that by applying a higher expected interest rate compared to general guaranteed interest rate products, customers can prepare the same coverage with more affordable premiums.

Hanwha Life stated that the fund lineup of this product is diversified to respond to all market environments, including global asset allocation, domestic and international stocks, bonds and alternative assets, and TDF (Target Date Fund).

In particular, the representative fund is the 'Hanwha Income Plus (hereafter HIP) Asset Allocation Fund,' which invests in global blue-chip companies to pursue stable performance through steady dividends and interest income, and is adjusted by experts to the optimal portfolio according to market conditions.

The fund lineup consists of three types?30%, 50%, and 70%?based on stock and alternative asset inclusion limits, allowing customers to select funds according to their risk tolerance.

The HIP Asset Allocation V70 Fund recorded a one-year return of 5.13% as of April 30, outperforming the one-year average return of -3.37% for all global multi-asset and asset allocation funds of life insurance companies.

Sung Yunho, head of product development at Hanwha Life, said, “While enrolling in variable insurance is essential to prepare for inflation, there were not many variable universal life insurance products for medically underwritten individuals in the industry. We expect that through this product, medically underwritten customers will be able to subscribe to variable universal life insurance with affordable premiums, meeting the needs of customers who want enhanced coverage and resources for inheritance tax.”

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