[경제]Competition in sales of ‘CEO insurance’ is heated… tens of millions of won in fees for children

As the competition to sell term insurance for executives, known as ‘CEO insurance,’ heats up, a case of giving recruitment fees worth tens of millions of won to children of CEOs has been discovered.

The Financial Supervisory Service confirmed such illegal acts in the process of selling term insurance to managers and decided to impose the maximum level of sanctions allowed by law.

As a result of an on-site inspection of four insurance agencies selling the insurance, it was revealed that 179 unqualified people received commissions.

The amount of fees they collected amounts to 7.2 billion won.

It was discovered that one agency persuaded the CEO of a small business that he would receive a large commission if he registered his child as a planner and signed up for insurance, and then actually paid the child a recruitment fee of 45 million won.

The Financial Supervisory Service plans to continue to inspect insurance companies and agencies that have a high proportion of individual sales or are likely to engage in arbitrage.

YTN Lee Hyeong-won (lhw90@ytn.co.kr)

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