ABL Life launches refundable premium "Health Return Insurance"… covering protection against three major diseases

ABL Life has launched a new insurance product that refunds policyholders’ additional premium payments at specific points in time. The key feature of this product is that, under certain conditions, it will refund a portion of the paid premiums under the name of “Health Return Money.”

The newly launched “(No)WON Health Return Insurance” is characterized by: determining the return time based on the customer’s age at the time of policy purchase, and at that point, refunding the remaining amount of the paid premiums after deducting any claims received, as health return money. Its differentiated advantage is that, even if partial claims have been made, the coverage will continue for life.

However, it should be noted that if the total claims received during the coverage period exceed the premiums paid by the customer, no health return money will be paid. This means that when the claims obtained from additional insurance are high, the actual refund will be limited, and consumers should understand this clause in advance.

This insurance product can be combined with up to 10 additional insurances covering the “three major diseases” including cancer, cerebrovascular disease, and ischemic heart disease. It can address major disease risks while providing fund refunds at specific times, making it suitable for middle-aged and elderly policyholders.

The Life Insurance Association has granted the product a 9-month exclusive usage right. This system prevents other insurance companies from launching similar products within a certain period, and industry experts believe this marks an innovative product structure.

In the current demographic and economic environment, with rising medical expenses and retirement savings needs, such return-type insurance products can serve as stable financial planning tools. In the future, similar return-based protection products are expected to be widely promoted in the insurance industry.