ING Life launches the Non Par Power Variable Universal Life
ING Life launched its non-par power variable universal product on April 1st.
The key advantage of the Power VUL is the flexibility provided to its customers
The Power VUL may serve varying functions, based on the needs of the specific customer, whether it be solid protection, annuity for comfortable retirement, or savings for purchase of a house or car.
The 6 key features of the product are as follow :
1. Flexibly tailored to the life style of the customer
There are unexpected incidents in the course of life that require emergency funds. Without additional premium payment or repurchase, this product allows for withdrawal of up to 12 times a year, within the limit of 50% of cash surrender value. This significantly reduces any loss from insurance cancellation.
The flexible premium payment gives the customer the option to either pay more when they are financially better off, or less under relatively tighter financial situations.
2. Allows customers to select and change their funds according to their different style and nature of investment
The non-par Power VUL largely consists of three types of fund portfolios. One national bond type for stability, two mixed growth types.(Foreign investment and domestic investment) The product provides a broad range from which each customer may select with careful consideration to one’s individual investment profile, investment volume and lifestyle. Investments can be diversified and 6 months after issuance of the policy, customers can adjust their investments up to 12 times a year, based on their changing preferences or situations, and thus manage their own risk.
3. Fund management by sound asset managing companies
Power VUL funds are operated by world- renowned Franklin Templeton Investment and KB Asset Management. Management by such companies with proven performance will enhance trust in ING Life from the customer side, as well as reinforce the soundness of asset management on the part of the company.
4. Customer benefit is maximized as, regardless of investment performance, minimum death benefit is guaranteed.
Death benefit and surrender value depends on return on investment, which is distributed to the policyholder. Therefore, customers can expect, even in the event of poor performance, a minimum payout of premium paid. This basically covers the aspect of protection, which is a key strength of insurance products.
5. Design a comprehensive protection plan by attaching various riders
Although the main purpose of this product is savings, by attaching various riders, customers can have various protection for accidental death, cancer, medical expenses, hospitalisation expenses and many others.
6.Tax benefits
For Power VUL polices that are kept in-force for a period of 10 or more years, taxes are not levied on the interest income (gains on insurance claims). However, in the event of premium withdrawals based on fixed rates upon conversion to annuity, interest income is subject to taxation, even if the period from the first premium payment to maturity or mid-term cancellation exceeds 10 years.
Clearly, ING Life’s newly launched Power VUL is designed to meet the specific needs of each and every one of its customers, which in fact is its corporate mission. This is an ideal product for satisfying the sophisticated and diverse needs of customers in today’s low-interest and rapidly aging Korean society.
Anyone between the ages of 15~65 is eligible for issuance of ING Life’s non-par Power VUL. The value insured is set at a minimum of 20m won and a maximum of 1.1b won. 200,000 won is the minimum premium payment allowed, and additional payments are made in units of 100,000 won.
As this is an investment-linked product, the principal and interest on investment are not guaranteed. As such, the investment may incur a loss, the responsibility of which is on the policyholder
신한라이프 개요
1987년에 설립된 이후 선진 금융 노하우를 바탕으로 지속적으로 성장해 온 오렌지라이프는 총 자산 규모 30조9004억원, 보험금 지급여력비율 287.7%(2017년 3월 말 기준)로 우수한 재무 건전성을 자랑하고 있다. 13년 연속 우수콜센터(KSQI)로 선정되는 등 고객 만족을 위한 지속적인 노력을 통해 '고객의 꿈을 위한 든든한 금융 파트너'로 자리매김하고 있다. 9월 3일 ING생명에서 오렌지라이프로 사명을 공식변경했다.
웹사이트: http://www.shinhanlife.co.kr
연락처
Kumee Roh 02-3703-9545
