Fubon Hyundai Life Re-releases 'Max Savings Insurance Special' with Enhanced Coverage

[Asia Economy Reporter Changhwan Lee] Fubon Hyundai Life announced on the 8th that it will relaunch the existing 'MAX Savings Insurance Special' with enhanced coverage.

'MAX Savings Insurance Special' has increased the applied interest rate from the previous 2.55% to 3% and added a long-term maintenance bonus.

The long-term maintenance bonus is a system that adds 0.7% of the basic insurance premium to the policyholder's reserve fund after 5 years of insurance subscription.

This product is a tax-exempt insurance gain product, exempting 15.4% interest income tax if maintained for more than 10 years within a total premium payment of 100 million KRW.

It is a single premium product with a maturity of 12 years. It is available for subscription from ages 15 to 80, and the subscription amount can be set from 10 million KRW to 10 billion KRW.

If there are surplus funds, additional payments up to twice the basic insurance premium paid within one year of subscription can be made. If funds are needed, early withdrawal is possible within 70% of the surrender value without separate fees or costs.

In case of the insured's death during the insurance period, the death benefit is paid by combining the policyholder's reserve fund at the time of death and 10% of the basic insurance premium.

After 5 years of subscription and meeting certain conditions, pension conversion is possible using the policyholder's reserve fund as the source. It is a bancassurance-exclusive product available at banks.

A Fubon Hyundai Life official said, “MAX Savings Insurance Special is a product that enables asset growth, death coverage, and retirement preparation with tax benefits, and it is a product that can manage assets stably even in future interest rate fluctuations.”

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