Shinhan Life launched the "Shinhan Dollar Universal Whole Life Insurance," which bases premiums and insurance benefits on the US dollar, on the 10th.
[Asia Economy Reporter Oh Hyung-gil] Shinhan Life Insurance launched the 'Shinhan Dollar Universal Whole Life Insurance,' which bases premiums and insurance benefits on the US dollar, on the 10th.
Premiums are calculated monthly in Korean won according to the exchange rate; when the exchange rate rises, premiums increase, but insurance benefits and surrender refunds also increase simultaneously.
Premium payments and insurance benefit disbursements are conducted in Korean won by applying the won-converted amount for the convenience of the policyholder's financial transactions.
Customers can choose between the basic type and the increasing type. For the increasing type, from the start of the second insurance period until the time of death, the insurance benefit increases by 5% annually, rising at a fixed rate for up to 20 years, allowing benefits up to twice as much as the basic type.
Additionally, to provide flexible fund management for subscribers, additional payments and mid-term withdrawals are available, and various riders can be selected upon subscription.
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