Business · Companies · 1 hr ago
Hanwha Life launches whole-life policy with flexible cash withdrawals
Hanwha Life has launched a new whole-life insurance policy in South Korea.
It is designed to provide a death benefit while also giving policyholders a way to use money for expenses during their lifetime.
For customers on a 10-year payment plan, the death benefit can rise to 210% of its starting amount as the policy ages.
After paying all premiums, customers can choose to withdraw the premiums paid within 20 years of the contract date.
They can take the money at once or spread it over two to eight years, for needs such as retirement or a child’s wedding.
The remaining death coverage continues for life after the withdrawal, while the policy’s accumulated value continues to grow.
Customers can choose 10- or 12-year payment plans, and the maximum entry age is 65.
Hanwha Life launched a whole-life insurance policy on October 14 that offers a death benefit or access to all premiums paid as lifetime funds.
The death benefit can increase over time, reaching up to 210% of its initial amount.
After completing premium payments, policyholders can use the lifetime-funds withdrawal option within 20 years of the contract date.
They can choose when to receive the funds, either in one payment or in installments over two to eight years.
After all lifetime funds are withdrawn, the policy’s accumulated value can continue to grow and the remaining death benefit stays in place for life.
- Who
- Hanwha Life.
- What
- It launched a whole-life policy with a death benefit that can increase over time and an option to withdraw all premiums paid as lifetime funds.
- When
- October 14, 2026.
- Where
- Seoul, according to the article’s dateline.
- Why
- The policy is designed to provide a death benefit when needed or funds for life expenses such as retirement and a child’s marriage.
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This story does not have a timeline yet.
- Maximum death benefit increase
- 210% of the initial amount
- Premium payment terms
- 10 or 12 years
- Withdrawal period
- Within 20 years of the contract date, after premiums are fully paid
- Installment option
- One payment or installments over 2–8 years
- Maximum joining age
- 65 for both standard and simplified enrollment
1 source
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