Premium and New Financial Technology
Since a new system of domestic premium is applied from this month on, new pension products are being poured out to the public. According to a domestic pension company, monthly premiums of each pension product to which the new premium system is applied will be estimated on the basis of financial interest, rise of average life expectancy, and death rate.
Mediation of Premium
Three major pension products, whose premiums increase hereafter, will be cancer, health, and pension insurance. In case of cancer insurance, since the diagnosis rate of cancer increased, it will be at 3% for male adults and 18% for female adults. Interestingly, for male adults, the premium was down 10% compared to the premium for females in cancer insurance.
According to an insurance counselor, it is beneficial for the insured to subscribe to cancer insurance that guarantees coverage for a long term. And as the diagnosis rate of cancer increases with age, surely premiums are different by age of the insured. Therefore, he advises the prospective insured to subscribe earlier, adding that they have to recognize that the coverage of cancer insurance isn’t effective the day they subscribe, but as of 90 days later.
In the case of health insurance, as the number of the insured’s health check-ups and hospitalization increase, the rate of premium rises between 5% and 10%. It is understandable that the premiums for insurance products that also cover hospitalization fees will be highly increased. Meanwhile, the premium for life-long insurance and term insurance will be down 6% and 10% because of low death rates in early age.
New Insurance Products, Remodeled Insurance Products
As life expectancy has increased, premiums for most insurance products that cover death will be down, as will the amount the insured who subscribes to pension insurance can receive monthly.
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 / 입력시간: 2006. 04.11. 07:59
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