Variable Integrated Whole Life Insurance

Hanwha Life Smart Plus Variable Integrated Whole Life Insurance.
Hanwha Life Smart Plus Variable Integrated Whole Life Insurance.

 

Hanwha Life Insurance announced that they launched “Hanwha Life Smart Plus Variable Integrated Whole Life Insurance” which guarantees the surrender value of an insurance contract regardless of an earning rate. The biggest advantage of this insurance is that this insurance gets rid of worries over a decrease in the surrender value of an insurance contract resulting from a low earning rate by introducing a reserve guarantee type on July 25.

This insurance guarantees 95% of the surrender value of an insurance contract by separating it with an expected interest rate (3.0%) ten years after its purchase even if its earning rate is minus. Compared to interest rate-linked whole life insurance, the surrender value of an insurance contract ten years after its purchase is at a similar level or a little higher. Under the same conditions, its insurance premium is about 10% lower than that of interest rate-linked whole life insurance. 

Hanwha Life Smart Plus Variable Integrated Whole Life Insurance can transform into interest rate-linked whole life insurance. Buyers of the insurance can change the insurance into an interest rate-linked single premium whole life product by utilizing the surrender value of the insurance contract only once.  If a customer wants a product with a stable publicly announced stable interest rate as the stock market is unstable, the customer can consider changing his or her insurance. 

 

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