Dongyang Life Insurance Utilizes Insurance Payouts as Corporate Emergency Funds... Executive Term Insurance

On the 16th, Dongyang Life announced the launch of the 'Guardian Angel Executive Term Insurance' designed for high-net-worth individuals such as executives and professionals.

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance announced on the 16th that it has launched the 'Guardian Angel Executive Term Insurance' for high-net-worth individuals such as executives and professionals.

This product can be used as emergency corporate funds for loan repayment through death benefits in the event of an executive's absence, or as living expenses for bereaved families and funds for inheritance tax, and can be prepared at a lower premium compared to existing whole life insurance.

Designed with an increasing death benefit structure, the insurance payout increases by a fixed percentage annually starting from the 10th year of subscription, helping to offset the decline in the value of the benefit due to inflation.

Customers can choose between a surrender value guaranteed type, which guarantees a minimum surrender value even if interest rates fall, and a non-guaranteed surrender value type, which offers lower premiums without surrender value guarantees.

Additional premium payment functionality is added to the term insurance that pays death benefits, allowing for extra premium payments or mid-term withdrawals of the additional premiums paid. After retirement, the insurance payout can be received in the form of an annuity through the annuity conversion rider.

Additional coverage is also provided through the Plus Insurance feature, which consists of a maintenance bonus, additional insurance benefits, and additional premium reserve funds for customers who maintain the insurance for a long period. The Plus Insurance automatically converts to a Plus Coverage contract after the insurance contract expires, providing coverage up to whole life.

The eligible age for subscription is from 15 to a maximum of 70 years old, and the insurance period can be selected by the customer as either expiring at age 90 or age 100. If a disability of 50% or more occurs due to an accident, future premium payments are waived.