Convertible to Fixed Interest Rate... Mirae Asset's 'Variable Term Insurance for Executives'

Fixed Interest Rate Term Insurance Conversion Upon Achieving Target Profit
Minimum Death Benefit Guarantee Also Available

Mirae Asset Life Insurance has launched a variable insurance product for executives. It features the ability to convert to a fixed interest rate type upon achieving the target return, and guarantees a minimum death benefit.

On the 30th, Mirae Asset Life Insurance announced the recent launch of the 'Variable Term Insurance for Executives.' It is the only variable product in the executive term insurance market, targeting corporate clients' investment demands.

A key feature is the option to convert to a fixed interest rate term insurance upon achieving the target return. Through the 'Fixed Interest Rate Term Insurance Automatic Conversion Option,' conversion is possible when the refund rate reaches 100%. This option can be applied for at any time after enrollment, and automatic conversion occurs once conditions are met. After achieving the target return, this allows the investment performance of the variable insurance to be fixed while eliminating the risk of fluctuations in death benefits and surrender refunds.

The minimum death benefit is also guaranteed. Regardless of fund management performance, if a death benefit payment event occurs during the basic insurance period, the insurance subscription amount at the time of occurrence and the increasing insurance amount are guaranteed as the minimum death benefit. However, this applies only to participating contracts. Additionally, for long-term customers, benefits such as maturity extension (up to age 95) and long-term payment bonuses are added to the accumulated amount.

Various additional features can also be added. Interest-linked additional payments and mid-term withdrawals are possible, and from the 7th year after enrollment until maturity, the death benefit gradually increases by 15% annually. Customers with medical history can also enroll by choosing the simplified disclosure type.

Oh Eun-sang, Head of Product Development at Mirae Asset Life Insurance, said, "We have added stability to variable term insurance," and added, "We hope this helps executives who enroll to manage their companies with peace of mind."