Mirae Asset Life Insurance's guaranteed-type variable insurance for retirement pensions is drawing attention as a product with both long-term stability and profitability.
Mirae Asset Life Insurance said on the 29th that it launched the industry's first retirement pension product that pursues stability and profitability at the same time, the "guaranteed-type variable insurance." In retirement pensions, receiving a pension through an insurance contract had only been possible via a pension-conversion rider, but with the addition of a pension-receipt method through guaranteed-type variable insurance, subscribers now have more choices.
If customers age 50 or older enroll through an individual retirement pension account, the product guarantees fixed payments for 20 years (240 months) based on the paid-in principal. It is designed to actively utilize the company's flagship discretionary asset allocation fund, the "MVP Fund," through the pension-receipt period, allowing subscribers to also pursue asset management profitability through a global diversified investment strategy.
If reserves remain in the fund from revenue generated over the 240 months, the pension amount will continue to be paid until the reserves are exhausted. Mirae Asset Life Insurance is presenting a smart withdrawal strategy for retirement assets by combining a guaranteed withdrawal structure with expert global asset management. It said it aims to secure both stability and growth potential of assets in retirement life based on four key elements: ▲ structural guarantees ▲ expert management ▲ global diversification ▲ performance linkage.
Retirement pensions have become a key pillar for a happy post-retirement life. According to the World Bank, the old-age income security system is divided into private pensions, retirement pensions, and public pension, and each system supports old-age preparation in different ways. While private pensions rely on individuals' voluntary preparation through pension savings, individual IRPs, and variable annuities, retirement pensions are a workplace-based system in which corporations accumulate contributions during employees' years of service and pay them after retirement, serving as a stable income supplement. Public pension is a social security system led by the state, such as the National Pension and the basic pension, aiming to ensure basic livelihood stability.
With life expectancy steadily increasing in recent years, the period of life after retirement has also grown significantly compared with the past. As the post-retirement period gets longer than the growth years (ages 0–30) and active years (ages 30–60), the most important task has become maintaining and managing limited retirement funds for a longer time.
Experts emphasize that a strategy is essential to extend the payout period while securing a stable rate of return. To prepare retirement assets stably over a long period, the key is to choose a pension product that satisfies both profitability and stability.