Mirae Asset Life Launches Non-face-to-face, Tax-free 'e-Must Have Variable Annuity Insurance'

[Asia Economy Reporter Changhwan Lee] Mirae Asset Life Insurance announced on the 4th that it has launched the 'e-Must Have Variable Annuity Insurance.' This product is a non-face-to-face, tax-exempt bancassurance (bank-sold insurance) product available through the KB Kookmin Bank app ‘KB Star Banking.’

This product offers tax-exempt benefits on insurance gains when meeting relevant tax laws, and it is a variable annuity that simultaneously enhances cost-effectiveness, stability, and flexibility to help customers prepare stable retirement funds.

First, it improved contract management flexibility through various functions. Customers can withdraw funds early at any time if needed, and it provides features optimized for mid- to long-term fund utilization, such as changing the payment period. Unlike existing tax-qualified pension savings products that only allow fund access in the form of annuities after age 55, this product allows flexible use of funds during the contract period, reducing the burden of subscription and management.

Reflecting the consumption patterns of the MZ generation (born from the 1980s to early 2000s), it also enhances cost-effectiveness. In line with the mobile-based non-face-to-face product characteristics, it lowers business expenses to increase customer returns. If maintained for more than five years, a bonus amount proportional to the basic premium is credited, and no deduction is applied upon cancellation, maximizing cost-effectiveness.

Stability has also been improved. Even if market conditions are unfavorable, an annual compound interest rate of 1% is guaranteed, and if profits occur, the annuity amount increases accordingly. It has a stable profit structure that guarantees a certain amount regardless of how low the variable insurance fund yield falls, while allowing expectations for additional performance.

Ji Won-geun, Head of Bancassurance Sales Support Team at Mirae Asset Life Insurance, said, “This variable annuity insurance is perfect for customers who seek stability and profitability from a long-term perspective and want to prepare for retirement reasonably.” He added, “In particular, we expect strong interest from the younger generation represented by the MZ generation due to the product structure that enhances mobile platform usability, cost-effectiveness, stability, and flexibility.”

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