New insurance product offers bonus for long-term customers
ABL Life Insurance has brought about an insurance product, of which the premium paid and the insurance money received are all in U.S. dollars.
It is an annuity insurance where an insurer can pay the premium either in a lump sum or through installments, according to the Seoul-based life insurance company.
Clients who maintain their contracts for a long time will get a bonus amounting to a maximum of 2 percent of the total premium.
Those who are younger than 75 can take out the newly-launched insurance. The minimum premium is $400 for the installment type and $15,000 for the lump-sum type.
“We came up with this product in line with the recent trend where financial firms invest a part of their assets in dollar, the safe-haven currency,” said Director Jason Eun, who is in charge of developing the company’s products.
“Customers will be able to enjoy long-term diversity in their investments as well as 2 percent bonus, which will help them secure funds for their old age.”
ABL Life is a subsidiary of China’s Anbang Group, which has more than 35 million customers around the globe. Anbang offers various financial services such as insurance, banking, and asset management.
ABL Life’s customer base is upside of 1.1 million. The outfit says that it vies to become a trusted company, which offers “A Better Life.”