ABL Life Offers Premium Discounts for Applying Health Ratings

ABL Life has been consistently launching products that offer premium discounts by applying health grades.

According to ABL Life on the 20th, the health grade applied products include five types: ‘(Non-participating) ABL Geonganghamyeon THE Sojunghan Whole Life Insurance (Partial Surrender Refund Type)’, ‘(Non-participating) ABL Geongang Dream Advance GI Whole Life Insurance (Partial Surrender Refund Type)’, ‘(Non-participating) ABL Internet Four-Exactly! Package Health Insurance (Renewable)’, ‘DIY (Non-participating) ABL THE Health Integrated Insurance (Renewable)’, and ‘DIY (Non-participating) ABL THE Health Integrated Insurance (No Surrender Refund Type)’.

Customers who subscribe to these products can receive premium discounts ranging from 3% to 10% on the main contract and 3% to 15% on special contracts, depending on the health grade of the insured, which ranges from grade 1 to 4, according to the discount rates set for each product.

The health grade can be checked through the mobile app ‘LOG’. LOG is a service that calculates health grades based on health checkup information and medical records, allowing customers to receive premium discounts according to their grade. Customers can access the ‘LOG’ app or the ABL Life website, provide consent for personal information processing, and check their health grade results based on gender, age, health status, and medical usage information.

The health grade is calculated on a scale from grade 1 to grade 9 by considering various factors such as body mass index (BMI), blood pressure, urine protein, hemoglobin, fasting blood sugar, liver function levels, cholesterol, number of medical institution visits, and smoking status. A grade closer to 1 indicates better health. The health grade initially applied is the one calculated at the time of subscription, and it is recalculated annually. If health records improve in the future, customers can receive greater premium discount benefits.

Eun Jae-kyung, Executive Officer in charge of Sales Channels at ABL Life, said, "The health grade is a more advanced health indicator focused on enabling customers’ efforts for a healthy life to translate into systematic premium discounts." He added, "We will continue to strive to help customers lead better lives through the development of innovative services that lead the market."