Dongyang Life Launches Interest Rate-Linked Universal Whole Life Insurance

On the 1st, Dongyang Life announced the launch of the 'Suho Angel NEW Didimdol Universal Integrated Whole Life Insurance,' an interest-linked whole life insurance with death coverage as the main contract.

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance announced on the 1st that it has launched the 'Suho Angel NEW Didimdol Universal Integrated Whole Life Insurance,' an interest-linked whole life insurance policy with death coverage as the main contract.

The policy offers two types of death benefits: Type 1 (Basic), where the death benefit remains unchanged, and Type 2 (Increasing), where the death benefit increases annually from a specific point in time. For Type 2 (Increasing), starting 20 years after enrollment, the death benefit increases by 2.5% of the insured amount each year for 20 years, reaching up to 150% of the insured amount.

Additionally, customers can choose between Type 1 (Surrender Value Guaranteed), which guarantees a minimum surrender value even if interest rates fall, and Type 2 (Non-Surrender Value Guaranteed), which offers lower premiums but no surrender value guarantee. Customers who enroll in Type 1 (Surrender Value Guaranteed) can switch to either a savings-type or coverage-conversion type under certain conditions.

The policy allows flexible premium payments and mid-term withdrawals, enabling customers to manage their funds according to their financial situation. By utilizing the pension conversion feature, customers can reduce part of the insured amount and receive the resulting surrender value annually in the form of a pension, which can be used as retirement living expenses.

There is also a maintenance bonus benefit that adds to the accumulated funds for customers who maintain the policy long-term. The eligible age for enrollment ranges from 15 to 75 years old, and premium payments are waived in case of disability of 50% or more due to illness or accident.

A Dongyang Life Insurance official stated, "The biggest feature is the increased refund rate through the maintenance bonus payment and the ability to manage funds more flexibly by utilizing universal functions."