Thursday The friendly economy is with the reporter Han Seung-koo. One reporter, recently, when you look at insurance ads, it's the same insurance that is guaranteed, but the premium is cheaper. There are many such advertisements. How is this possible?


There are actually such products. In some cases, you may find that you have less than 20% premium, but you should know that there may be few or no refunds you can get back when you cancel.

Let me give you an example of a dementia insurance that many insurance companies sell these days. This item can receive 20 million won in severe dementia.

A 40-year-old man pours for 20 years and pays for up to 95 years. In this case, monthly premiums are 94,900 won, and there are 74,800 won. 21.2% is cheaper, but the guarantee content is the same.

So, where does this difference come from? If you canceled a year later, the above returns 73,000 won.

If you cancel 10 years later, you will receive KRW104,000, but there is still no refund. You can get a refund of 22,247,000 won if you fill the 20-year period. There is no refund until the payment is due.

This is called 'non-cancellation refund product'. There is also a 'deferred refund product', which is the middle between general merchandise and undelayed refund.

Insurance companies have started selling these products three or four years ago, so far, a total of 4,052,000 insurance contracts have been signed.

You can find out about life insurance, dementia insurance, cancer insurance and child insurance.


It's cheap. I have to take a good look at the termination reimbursement.


That's right. In the case of insurance companies, if you swell for 20 years, you expect to have money for the next 20 years. The risk of being terminated in the middle is reflected in the premium, calculated as a cost.

In the case of these products, even if it is canceled, I will not get the money to come forward, but since there is no money to pay right now, the insurance premium will be reduced a little.

In terms of consumers, it means that if you end up in the middle, the damage is very large. As of the end of March, however, when I look at the contents of these non-cancellation refunds and discounted refund products, it is most common that the payment period is more than 20 years.

It may not be easy to keep a contract for 20 years. I need to know exactly what my income and assets are, and more importantly, the future must be predictable to some extent.

If you suddenly feel uncomfortable or need your pocket money, you have to take out the insurance every month. If you do not get it back, you will not be able to do it.

As I mentioned, these types of products have long since sold, so you have to watch how long the cancellation rate will be in the long run.

It is expected that the rate of cancellation will be lower than general insurance products. On the other hand, insurers can make a profit if the cancellation rate is too low because the insurance companies have expected the cancellation rate.


However, if you do not hear "I do not have a refund," this complaint is likely to be raised.


You can. It is called incomplete sale of financial products, but it does not explain the major contents or risk of the product enough.

In this case, the insurer will only emphasize that the insurance premium is cheap, and if the refund is not available, it will not be announced properly.

The Financial Supervisory Service believes there is some possibility of incomplete sales. I've always been talking about insurance products, but it's not yet released, but pension products can come out in this form as well.

If this is the case, there will be no termination refunds or you will get more pensions later instead. So, I have asked insurance companies to make a standard so that I can compare the amount of the pension as well as the termination refund as well as the insurance premium in the contract of the commodity.

In addition, insurance companies put a lot of these non-cancellation refund products names like this in a stall-like manner, which is a little misleading. We also recommended clarifying the termination refund.

There are so many different types of products so far that insurers will be able to change their product names by this autumn. We have submitted this plan.