Mirae Asset Life Insurance’s “Guaranteed Performance-Linked Insurance” Retirement Pension Surpasses 50 Billion Won in Sales

Mirae Asset Life Insurance announced on March 9 that sales of its "Guaranteed Performance-Linked Insurance" retirement pension product, the first of its kind in the industry, have surpassed 50 billion won just nine months after its launch.

This product is characterized by combining Mirae Asset Life Insurance's global asset allocation strategy with a principal guarantee feature. In the first two months of this year, sales reached 18 billion won, continuing the upward trend. It is also designed to allow withdrawals in the form of a bridge annuity at retirement. Customers aged 50 or older can subscribe to the product through an Individual Retirement Pension (IRP) account, and the product guarantees fixed payments based on the principal paid in for 240 months.

If there are remaining reserves due to investment returns during the pension payment period, the company's flagship discretionary asset allocation fund, the "MVP Fund," can be used until the reserves are exhausted. For example, assuming an investment return rate of 4.125%, the payout ratio after 20 years reaches 167.5%. If the pension begins at age 60, payments can be received until approximately age 100.

Jeon Soonpyo, Head of Pension Sales at Mirae Asset Life Insurance, stated, "To further expand customer choices, we plan to add new maturity structures such as a 10-year term and diversify the product concept. We will also pursue measures within the year to allow workers subscribed to pension plans at banks and securities firms to utilize this product and gain opportunities for stable retirement planning."

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