Lower Insurance Premiums, Enhanced Guarantee: 5-More Happy Life Insurance
Tong Yang Life Introduces ‘(no) Guardian Angel 5’ Insurance Policy
SEOUL — Tong Yang Life Insurance, led by CEO Lee Mun-gu, has announced the launch of its new insurance product, the ‘(no) Guardian Angel 5 -Batter Happy Life Insurance.’ The policy aims to reduce the initial premium burden on customers thru a unique payment structure.
Key Features of the New Policy
This 15-year policy, primarily designed to provide death benefit guarantees, incorporates a partial payment structure during the initial payment period. Following the payment period, the policy is structured to provide a fixed refund rate of 100% of the paid premiums after 15 years.
To reward long-term customers,Tong Yang Life will offer long-term maintenance bonuses to policyholders who maintain their insurance for 10 and 15 years.
Enhanced Benefits and Retirement planning
The insurance policy also includes provisions for death benefits and pension conversion options, designed to protect the real value of insurance benefits against inflation and support customers’ retirement plans. The death benefit increases by 30% annually for the frist 10 years after enrollment and then by 20% per year for the subsequent five years, possibly reaching up to 500% of the initial subscription amount.
Moreover,the policy offers various pension options,allowing customers to secure stable living funds for retirement,in addition to providing death insurance for beneficiaries.
New Pension Type Details
A newly introduced pension type guarantees 100% of the survival pension if the insured is not diagnosed with cancer during the insurance period. If a cancer diagnosis occurs, 100% of the survival pension is guaranteed for 10 years following the diagnosis.
Eligibility and Premiums
The ‘(no) Guardian Angel 5’ policy is available in both a general screening type and a simplified underwriting option. The age of eligibility ranges from 25 to 65 years. As an example, the monthly premium for the general screening type is approximately ₩165,820 for men and ₩144,450 for women, based on a coverage amount of ₩10 million.
Tong Yang Life’s ‘(no) Guardian Angel 5’ Insurance: Your Questions answered
Are you curious about the new insurance product from Tong Yang Life? Let’s dive into the details of the ‘(no) Guardian Angel 5’ policy,answering your most pressing questions.
What is the ‘(no) Guardian Angel 5’ Insurance Policy?
The ‘(no) Guardian Angel 5’ policy, announced by Tong Yang Life Insurance, is a 15-year insurance product designed to provide death benefit guarantees. The policy is focused on offering customers a way to reduce the initial premium burden.
what are the Key Features of the ‘(no) Guardian Angel 5’ Policy?
This policy has several key features:
Death Benefit Guarantees: The primary focus of the policy.
partial Payment Structure: A unique payment structure is used during the initial payment period to ease the initial premium burden.
Refund Rate: After 15 years, the policy offers a fixed refund rate of 100% of the paid premiums.
Long-Term Maintenance Bonuses: Tong Yang Life rewards long-term customers.
What Advantages does the Guardian Angel 5 Offer?
One of the best advantages is that it offers a potential refund rate of up to 110% after 10 years and 120% after 15 years.Furthermore, the policy provides features for retirement planning.
How Does the Death Benefit Work?
the death benefit increases over time. It rises by 30% annually for the first 10 years after enrollment. Then it increases by 20% per year for the subsequent five years. Possibly, the death benefit can reach up to 500% of the initial subscription amount.
What Retirement Planning options are Included?
The policy offers various pension options to support customers’ retirement plans. These options allow customers to secure stable living funds for retirement, in addition to providing death insurance for beneficiaries.
What are The Details of the New Pension Type?
A notable aspect of this policy is the introduction of a new pension type which guarantees 100% of the survival pension if the insured is not diagnosed with cancer during the insurance period. However, if a cancer diagnosis occurs, 100% of the survival pension is guaranteed for 10 years following the diagnosis.
Who is Eligible for the '(no) Guardian Angel 5′ Policy?
The policy is available in both a general screening type and a simplified underwriting option. The age eligibility ranges from 25 to 65 years.
What are the Premiums?
Here is an example of the monthly premiums:
* General Screening Type: Men approximately ₩165,820, Women approximately ₩144,450 (based on a coverage amount of ₩10 million)
What is Simplified Underwriting?
Simplified underwriting is a process where an insurance company assesses your application without requiring as much medical data. This is a popular option for manny insurance plans because it makes the application process easier.
How can I learn more about the Tong Yang Life insurance?
As the information is from an article only, you should contact Tong Yang Life Insurance directly. You can look up the information to learn more about this insurance policy for your financial needs.