Samsung Life Launches 'Samsung Hybrid Pension Insurance' for Secure Retirement Preparation

[Asia Economy Reporter Changhwan Lee] Samsung Life Insurance announced on the 22nd that it will launch the 'Samsung Hybrid Pension Insurance.'

The hybrid pension insurance is a product designed with a dual interest rate applied according to the subscription period.

It is a single-premium pension insurance that applies a fixed interest rate of 4.8% compounded annually within 5 years after subscription, and thereafter applies the announced interest rate, enabling stable retirement planning, the company explained.

A maintenance bonus is also provided at 5 and 10 years after subscription. The maintenance bonus occurs on the anniversary date of the contract after 5 or 10 years. The maintenance bonus rate varies depending on the maintenance period and the basic insurance premium.

This product allows customers to choose various pension payment types depending on the timing, duration, and form of pension payments. Customers can select from Lifetime Pension Plus Type, Fixed Period Pension Plus Type, Inheritance Pension Type, or Survivor Pension Plus Type, enabling customized retirement planning tailored to their needs.

The subscription age ranges from 0 to a maximum of 80 years old or up to 5 years before the pension payment start age (but no more than 80 years old), and the pension payment start age can be selected between 45 and 90 years old.

A Samsung Life Insurance official said, “The hybrid pension insurance is a product that combines fixed and announced interest rates to enable stable retirement planning,” adding, “It is suitable for customers who want to prepare solid retirement funds in an aging and high-inflation era.”

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