iM Life Revamps and Relaunches Three 'Smart PRO' Variable Annuity Products
"Pension Payments Increased by Over 9% Compared to Previous Products"
"Maximized Lifetime Annuity Benefits... Strengthening Market Leadership"
iM Life announced on June 1 that it has revised and relaunched its three flagship guaranteed variable annuity products with enhanced pension features.
The products are ‘iM Start PRO Variable Annuity Insurance’, ‘iM Master PRO Variable Annuity Insurance’, and ‘iM Travel PRO Variable Annuity Insurance’.
The key aspect of the revision is the enhancement of the core pension function, raising the actual pension payments customers receive in retirement by more than 9% compared to previous products.
With inflation remaining high over the long term, these products are designed to help preserve the real purchasing power of retirement assets and to secure a more stable cash flow.
In particular, the products feature a lifetime annuity structure, ensuring continued pension payments for as long as customers live. This actively reflects the needs of customers who wish to receive more in pension benefits.
For example, if a 40-year-old man enrolls in the ‘iM Master PRO Variable Annuity Insurance’, pays KRW 300,000 per month for 10 years, and starts receiving his pension at age 70, his annual pension payout will be KRW 7,040,000—an increase of KRW 580,000 compared to the previous product.
The product is designed so that the longer a customer lives, the greater the cumulative pension benefits, which helps maintain real purchasing power in retirement.
This revision is not just a one-off product launch but a part of iM Life's ongoing strategy to strengthen the competitiveness of its pension products.
In June last year, iM Life segmented its guaranteed variable annuity insurance lineup by life stage into the Start, Master, and Travel PRO series and introduced them to the market.
Subsequently, the company expanded its presence in the pension market by launching the ‘Plus PRO Annuity Insurance’, which features a minimum contract holder reserve guarantee.
With this latest revision, iM Life aims to further strengthen its market competitiveness.
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Chanhee Kwak, Head of Sales Strategy at iM Life, stated, "This revision is the result of our efforts to ensure customers can enjoy significantly greater pension benefits in retirement," and added, "We will continue to introduce pension solutions as a partner supporting our customers in later life."
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