MetLife Life Insurance launched its '(Non-par) 3-Year Satisfaction Dollar Whole Life Insurance (No Refund Value)' which provides lifelong protection with just 3 years of premium payments, along with a total of 30 new dollar riders added to its '(Non-par) Everyone's Dollar Whole Life Insurance (No Refund Value)' on the 1st.
'(Non-par) 3-Year Satisfaction Dollar Whole Life Insurance (No Refund Value)' is the industry's first dollar whole life insurance with a 3-year payment plan. It offers a low premium structure with a no refund value that guarantees a high level of death benefit compared to the actual paid premium. For example, for a male age 50, based on a coverage amount of $100,000, the death benefit of $100,000 is guaranteed, which is 3.37 times the total paid premium of $29,670.48 over 3 years.
The eligible age for enrollment is up to 75 years old. It targets customers such as retirees who prefer a shorter premium payment period. Customers with a main contract coverage amount of $300,000 or more will receive a happy pack service including vehicle escort during the premium payment period when using health check services through affiliated partners.
'(Non-par) Everyone's Dollar Whole Life Insurance (No Refund Value)' has added 30 new dollar health riders. Various coverages can be selected to meet customer needs, including cancer, cerebrovascular diseases, ischemic heart diseases, proton beam therapy, dementia, hospitalization, and surgeries. Notably, premiums can be paid in dollars, and policyholders can also receive insurance payouts in dollars depending on the economic situation at the time of payout or customer needs, thereby expanding customer options. Additionally, through the premium waiver rider, if a waiver reason occurs, the remaining period's main contract premium is fully waived, or the total amount of the basic premium the customer agreed to pay during the main contract period can be paid in full (100% payback type enrollment).
Along with this, MetLife Life Insurance has strengthened its dollar product portfolio. The bancassurance product '(Non-par)eTheBestChoice Dollar Pension Insurance' is the industry's first non-face-to-face dollar single premium product that can be easily enrolled online. Starting from its launch in September, the company plans to expand partnerships with more selling banks. This product guarantees the interest rate at the time of enrollment, allowing for the secure accumulation of target funds, and it guarantees a fixed public rate of 4.28% (based on the first public interest rate announced on September 1, 2025) for a 5-year fixed interest rate enrollment, along with a bonus accumulation rate of 1.3% for three years from the time of enrollment. The '(Non-par) Dollar Whole Life Insurance Plus for One Million People (Low Refund Value)' allows for coverage of up to 150% of the insurance amount through a structure where the death benefit increases.
Sung Young-rok, CEO of MetLife Life Insurance, noted, "Dollar insurance is a product for consumers who need to diversify their asset portfolio by holding dollar assets that are considered safe assets. With the launch of the 3-year premium dollar whole life insurance and 30 new dollar riders, we are able to provide our customers with a broader range of choices," he said, adding, "MetLife Life Insurance will continue to innovate customer-centered products and services, aiming to become one of the top 5 life insurance companies in Korea."