OrangeDigm.com -digm shift
Guide a revolutionary new way of
Work , love and life-style plan.
You deserve the right tools and
principles to guide you to a
better
job,
love, and
e business.
ING Life
launches non-par ING Orange Medicare Annuity
News Source : ING Life
Seoul, Jan 03 2006 (Korea Newswire)--
ING Life announced it will launch a non-par ING Orange
Medicare Annuity Product. The product will be available at
branches of Kookmin Bank.
Korean society is ageing rapidly. In the year 2018,
population of over 65 years is expected to account for
approximately 14%. Aging population highlights the
importance of asset management and health care in order to
lead a decent life after retirement.
In this vein, annuity insurance is recently emerging as the
solution that serves the needs for saving, risk protection
and stable income after retirement.
ING Life’s Orange Medicare Annuity offering competative
reserving rate and a medicare program is especially
attractive as it caters to the needs of both saving and
health management on top of the annuity benefits.
The Orange Medicare Annuity Product of ING Life offers the
following benefits:
1. Competative reserving rate coupled with minimum
guaranteed interest rate
Annuity resource is reserved at a rate of “PLIR - 1.5%”
being flexibly linked to the interest rate movement. By
doing so, the value of annuity resource is enhanced and
customer asset is safely preserved with the minimum
guaranteed interest rate.
2. Capability to add or deduct premium amount to/from the
base premium upon payment in accordance with the income
level change and reasonable annuity planning by choosing
from various annuity payment options and mid-term
withdrawal.
3. Tax benefits for policies kept in-force for 10 years or
more
For those policies that remained effective for 10 years or
more from the inintial premium payment day to the “maturity
or mid-term withdrawal day”, interest income tax is exempted
on the gains on insuranace claims. (But interest income tax
is levied on those policies that remained in-force for 10
years or more from the initial premium payment date to the
maturity or mid-term withdrawal day, but (part of) written
premium was paid out in the form of annuities for a
specified period of time before 10 years had passed since
the initial premium payment day.)
4. A sophisticated insurance plan that preserves the real
value of annuity resource, offers a competitive profit and
features a high-quality medicare program designed to help
customers enjoy a stable and healthy life after retirement,
combining annuities with healthcare program such as health
check, medicare and support for medical treatment abroad.
Customers of ING Orange Medicare can enjoy the personalized
medicare program including over-the-phone consultation with
medical experts and health check reservation service for up
to 3 years after entry. Details are as follows:
Preventive care program:
Professional health managers provide customers with personal
health management pragram, health advice, compiling of
personal record of medical examination and hospitalization
history, and a portable health chart that customers can
carry on travel. Customers also get a visit once a year by
the medical expert that performs health check-up.
Health enhancement program
Customers can access the call center all year round and
around the clock to make an appointment at a hospital or to
get health advice for themselves (and their family). Also,
the health care magazine providing more health and medical
information is mailed to customers. SMS service is offered
to customers at least once a month, which will make sure
customers maintain healthy lifestyle. In addition, the
reservation service is available under which a customer
complaining a health problem is connected to a general
practitioner (GP). An appointment with the GP is made on
behalf of customers along with the recommended medical check
up items based on the customer’s health diagnosis. In
addition, a total cancer care program is available. Under
this program, each customer can get one-on-one health care
service from a nurse specialized in tumor. Customers can
also make reservation and take administrative steps for
cancer clinic or hospital.
International treatment program
Through the international network, the program takes on
follow-up actions for customers who have been treated abroad
or takes administrative steps needed for customers to be
treated at a clinic abroad on their behalf.
< Example >
If a 35 year-old man pays monthly premium of 1millionKRW (on
the basis of 1 account, premium payment for full insurance
period, annuitant age 60, PLIR 6.2% as of Sep. 30, 2005)
He can receive 35,970,000 KRW every year in life annuity
(individual, fixed amount type) and 64,860,000 KRW in
annuity certain for 10 years.
<Entry guide>
- Age at issue: 15 (for full age) ~ 63
- Premium payment period: 5 year, 7 year +
- Annuitant age: 45 ~ 80 (48 ~80 for couple annuity type)
- Issue limit: monthly premium ranging from 300,000 KRW
