[Sponsored Report] Prudential Life offers customers more

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[Sponsored Report] Prudential Life offers customers more

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Prudential Life hopes to provide a customized retirement plan to clients with its 100 Age Plus Variable Annuity.

Prudential Life Insurance introduced “100 Age Plus Variable Annuity,” a product that guarantees payments until the customer reaches 100, regardless of whether he or she is alive or not. This product comes with a range of options that enable customers to choose various options for how they receive payments. Customers can choose from the age 100 guarantee period, the 10-, 15- or 20-year guarantee period and there are also options to choose from inheritance annuity or fixed annuity.

During the death guarantee period and before the annuity payment starts, if the person dies paying the death benefit is the base.

The 100 Age Plus Variable Annuity has also strengthened the investment function and has added blue chip mixed funds to its portfolio. This is to promote a sustainable profit with the merit of long-term investment and indirect investment combined.

Furthermore in case the investments are not doing well, up to 130 percent of the original payment is guaranteed as a minimum, so customers who are worried that their golden year fund will suffer losses can purchase this product without worrying.

Prudential Life has also added the important option of being able to suspend insurance payments temporarily as well as withdrawing money when there is an urgent need to do so during the contract period and planning the latter age fund. This is all to improve the fund utilization of this product.

Before the annuity payment starts you can withdraw up to 50 percent of the cancel refund amount up to 12 times a year. After the annuity payment starts, you can use the latter age fund function to use the fund for things such as your child’s education, marriage costs, overseas trips or making large purchases. You can also choose up to two kinds of annuity payment methods from the following: fixed annuity, life long annuity and inheritance annuity, so you can maximize the use of the annuity payment.

Prudential Life Insurance CEO and President Sohn Byoung-ok said, “The new 100 Age Plus Variable Annuity that we introduced provides various convenient functions. Especially the ‘life planning option’ that raises the minimum guarantee level one step higher and the ‘latter age fund planning’ function that helps utilize the fund after the annuity payment has started, a function that is rarely seen in this industry.”

“Through these functions and the life planners of Prudential Life, we hope to provide a customized retirement plan to clients who are preparing a life after retirement.”

By Lee Ji-hyun [concordia@joongang.co.kr]

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