NH Nonghyup Life Insurance Launches "Health Refill NH Cancer Whole Life Insurance" Offering Advance Cancer Benefits and Replenished Death Coverage

Advance Payment of Insurance Benefits
and Replenished Death Coverage
Through "Refill Death Benefit"

NH Nonghyup Life Insurance announced on October 1 that it has launched a new product, "Health Refill NH Cancer Whole Life Insurance," which provides an advance payment of insurance benefits upon diagnosis of common cancer and replenishes death coverage afterward.

This product pays 150% of the main contract coverage amount as a death benefit when the insured passes away. If the insured is diagnosed with common cancer during the policy period, an "advance payment of insurance benefits" equal to 100% of the main contract coverage amount is provided.

If an advance insurance benefit has been paid, the death coverage is replenished through the "refill death benefit" feature, providing 100% of the main contract coverage amount upon death. Therefore, by adding the advance payment and the refill death benefit, the structure allows for coverage up to 200% of the main contract amount.

Through the mandatory additional rider (non-participating)_W, coverage is also provided for breast cancer, prostate cancer, and minor cancers. For breast cancer and prostate cancer, 50% of the coverage amount is paid, and for minor cancers, 10% of the coverage amount is paid.

If the insured is diagnosed with common cancer during the premium payment period, future premium payments can be waived. For customers who are not diagnosed with common cancer during the payment period, a "health celebration bonus" is accumulated, and the bonus can be partially or fully withdrawn.

Through the "Retirement Fund Conversion Rider II (non-participating)," the surrender value can also be utilized as retirement funds.

The eligible entry age is from 15 for standard applications and from 20 for simplified applications. Depending on the conditions, applications are accepted up to the age of 70. The premium payment period can be selected between 10 years and 15 years.

Shin Myongyong, Head of Product Development at NH Nonghyup Life Insurance, stated, "Whole life insurance is designed to protect a family's financial stability in case of unexpected death. This product enables customers to utilize funds when diagnosed with cancer, while also replenishing death coverage so that the essential role of whole life insurance continues."

This content was produced with the assistance of AI translation services.