Dongyang Life Insurance Launches Safe Whole Life Policy With 10% Annual Death Benefit Increase

About 611% After 20 Years... 100% Refund Rate at 7-Year Mark Regardless of Enrollment Age
Policyholder Can Be Changed to Spouse or Child
"Enhanced Coverage Flexibility for Families"

On May 7, Dongyang Life Insurance announced the launch of its new death benefit-focused product, "(Non-participating) Our WON 7-Year Safe Whole Life Insurance," which is designed as a 20-year payment, single-structure policy.

The death benefit for this product is structured to increase by 10% each year compared to the previous year, so after 20 years, the benefit grows to approximately 611% of the initial insured amount.

To reward long-term policyholders, a maintenance bonus has been incorporated, allowing a 100% refund rate at the 7-year mark, regardless of the age at which the policyholder enrolled.

A Dongyang Life Insurance representative explained that the product was developed in response to growing demand in the whole life insurance market for not only strong death benefit competitiveness but also tangible benefits for long-term policyholders. By strengthening the core function of whole life insurance and adding retention benefits, the product’s overall competitiveness has been enhanced.

The product is available in two types: standard underwriting and simplified underwriting. For standard underwriting, the eligible age range is from 15 to 63 for men and from 15 to 70 for women. For simplified underwriting, men can enroll from age 15 to 57, and women from age 15 to 70.

After seven years from the contract date, policyholders can apply to convert to a universal (UL) whole life conversion type. At the time of conversion, it is also possible to change the insured person to a spouse or child. This allows families to expand coverage according to changes in their life cycle.

A Dongyang Life Insurance official stated, "This product is focused on simultaneously enhancing the refund benefits for long-term policyholders and the competitiveness of the death benefit," and added, "We will continue to expand our range of protection products that provide tangible benefits to our customers."

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