Oct 2020

Read the latest edition of AIR and MEIR as an Interactive e-book

South Korea: Major life insurers to raise premium rates

Source: Asia Insurance Review | Oct 2020

Samsung Life Insurance and Kyobo Life Insurance is set to increase premiums in October despite facing government pressure to lower insurance rates on some products.
According to a report from The Korea Times, Samsung Life plans to lower the assumed interest rate on some products by 0.25 percentage point next month. 
The rate is set by insurers to calculate the value of an annuity’s income payments. When the rate declines, customers pay higher premiums.
Kyobo Life Insurance is also looking into cutting its rate next month. A 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.