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[Sponsored Report] Mirae Asset offers life insurance with a built-in pension

Oct 24,2018
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Mirae Asset Life Insurance is making waves in the market with its “Variable Universal Whole Life Two Promises” campaign. [MIRAE ASSET LIFE INSURANCE]
Mirae Asset Life Insurance is making waves in the market with its “Variable Universal Whole Life Two Promises” campaign.

In addition to basic life insurance guarantees, Mirae Asset provides a life funds option that guarantees the cost of living after retirement for the policy holder. Based on the firm’s differentiated variable insurance expertise, the return rate on the product is expected to be especially high thanks to its variable-rate insurance funds such as its new exchange-traded funds.

The life fund guarantee automatically pays the policy holder a fund that covers the minimum cost of living for twenty years from retirement. The retirement age is set at the time that the customer takes out the policy. This way, Mirae Asset’s life insurance ensures that the policy holder’s relatives receive a payment upon their death, and that the policy holder themselves also benefits from the scheme.

This product provides the industry’s highest return rate based on Mirae Asset’s differentiated variable insurance expertise. It will reduce the burden on customers by making it possible to prepare for retirement, even with rising inflation, by raising the death benefit and the amount of accumulated life funds based on the best investment environment and experience.

Mirae Asset has become a variable-life insurance specialty company, providing stable returns in the long term based on the principle of global diversification — essentially investing as much as 63 percent of total variable insurance assets overseas.

The life insurance policy is expected to achieve a stable rate of return — the most important factor in variable insurance — by utilizing six exchange-traded funds. Mirae Asset’s newly-released variable insurance exchange-traded funds consist of four funds specializing in domestic assets, domestic bonds, foreign equity and overseas bonds, plus two existing global funds.

The mid-to-long-term earnings strategy will minimize volatility and the possibility of a sharp drop in yield, allowing for stable asset management. The two established funds are the industry’s first global asset-backed funds launched in 2014 by Mirae Asset. They are popular among experts due to their quarterly asset rebalancing.

Mirae Asset also maximizes investment performance by separating and operating additional premiums. If an additional premium is paid, it is separated from the rest of the pot and operates as a separate fund without the death guarantee, allowing for more aggressive investment. In this case, utilizing all of Mirae Asset’s 40 varieties of fund and expecting additional profit through efficient asset management is possible. By eliminating the bond fund’s obligatory transfer rate, it is also possible to invest aggressively and to shift money to completely invest in equity funds.

“‘The Variable Universal Lifetime Insurance Two Promises,’ guaranteeing a happy life until the age of 100, will offer death benefits at the time of activity and life funds after retirement,” said Oh Eun-sang, chief of the product development division. “The product also offers the best refund rate to customers based on optimal investment environment and experience. The [established] funds, which introduced the global asset allocation strategy to variable funds insurance for the first time in the industry, and the newly-added ETF fund lineup, will provide long-term stable returns for happy retirement designs.”

BY KIM HA-EUN [kim.haeun@joongang.co.kr]