Samsung Life has announced the launch of its digital-only product, 'Samsung One-Time Premium Pension Insurance,' designed for individuals looking to prepare for retirement by making a single lump-sum payment.
The product requires a one-time premium payment upon enrollment, which must be maintained for a minimum of five years before receiving pension benefits. As of August 2026, the initial five years will feature a guaranteed annual interest rate of 4.13% (before tax and after deducting business expenses). After this period, the accumulated funds will be managed based on a monthly variable interest rate that reflects the company's asset management returns and market interest rates.
The product is available in two types: the basic plan and the enhanced pension plan. The enhanced plan allows policyholders to increase their pension funds by adding a retention bonus of 7.3% of the basic premium if the contract is maintained for five years.
For example, a 40-year-old male who enrolls in the enhanced plan with a one-time premium of 100 million won can expect an accumulated amount of approximately 120 million won after five years. Assuming the current declared interest rate of 2.67% remains stable, the accumulated amount could reach about 136 million won after ten years.
Enrollment is open to individuals aged 20 to 85, with coverage amounts ranging from 2 million won to 100 million won. Interested customers can sign up through Samsung Life Direct and the integrated Samsung Financial app, 'Monimo.'
If the policy meets tax law requirements, interest income on insurance benefits may be exempt from taxation. Policyholders can also make partial withdrawals from their accumulated funds without canceling the contract, provided that the remaining amount exceeds 30% of the basic premium.
* This article has been translated by AI.
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