BNP Paribas Cardif Life Insurance announced the launch of ‘(NP) Credit Care The Safe Creditor Insurance’ to support customers’ safe loan repayment and healthy credit management. This product will be provided from today through Shinhan Bank’s smartphone banking application named ‘Shinhan Sol’.
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas, and the world leader in creditor insurance.
The newly launched ‘(NP) Credit Care The Safe Creditor Insurance’ is a creditor insurance product offered via bancassurance channel, applying the ‘Insurance Risk Score (IRS) Discount Rider’ which BNP Paribas Cardif Life Insurance acquired the exclusive sales right from the Korea Life Insurance Association last year.
‘Insurance Risk Score’ indexes the level of occurrence of insurance accidents based on the personal credit data, such as loan and card usage, registered in credit information company. Depending on the Insurance Risk Score calculated for each section (total 10 sections), the main contract premium is discounted by up to 10%. It can be recalculated once a year, and if this score improves, a larger discount rate is applied. Even if the score falls, he/she can continue to enjoy the previous premium discount rate, so this will be applied only in the direction of improving customer benefits.
A policyholder of ‘(NP) Credit Care The Safe Creditor Insurance’ can calculate his/her Insurance Risk Score with ‘MY Credit Care Service’ provided by MY Cardif, a mobile application of BNP Paribas Cardif Life Insurance, and check various contents that help with consistent credit management.
Choi Young-hwa, Deputy CEO of BNP Paribas Cardif Life Insurance said, “Since last year when interest rates began to rise in earnest, we have been accelerating the provision of creditor insurance that allows borrowers to prepare for the risk of unpaid loan. As proactive credit management can serve as a benefit in various financial transactions, including loans, we hope that this new product will be of practical help to a healthy credit management and sound financial life.”
Depending on the insurance period, ‘(NP) Credit Care The Safe Creditor Insurance’ can be purchased either as a renewable type (renewable up to 4 times every year after signing up for the initial contract) or a non-renewable type (6 to 30 year of maturity). The face amount can be set between KRW 5 million and KRW 1 billion within the amount of debt at the time of initial subscription. If a subscriber with the age of 40 who receives the 10% of maximum discount rate (IRS section 1), the monthly premium is KRW 8,280 for men and KRW 5,130 for women (Standard: initial contract, 1-year renewable type, face amount of KRW 100 million, whole term payment, monthly payment).
Meanwhile, BNP Paribas Cardif Life Insurance offers ‘Credit Care Program’, which provides integrated support for credit management. Under this program, ‘Credit Care Guide’ provides useful contents for safe loan repayment and wise credit management, and ‘Credit Care Academy’ is also in operation to offer corporate social responsibility activities via credit management economic education for the financially vulnerable.
BNP Paribas announces the appointment of Aymar de Liedekerke Beaufort as the Head of Territory for South Korea and Chief Executive Officer of BNP Paribas S.A., Seoul branch, effective 1 January 2023. He succeeds Philippe Noirot who will relocate to Singapore and assume the role of Head of Transaction Banking, Asia Pacific.
Aymar is responsible for managing the bank’s overall activities in Korea. He reports to Paul Yang, Chief Executive Officer of BNP Paribas Asia Pacific.
Commenting on Aymar’s appointment, Paul says: “BNP Paribas is committed to growing its business and footprint in South Korea; supporting our Korean Corporate and Institutional clients strategies. Under Philippe’s leadership in the past seven and a half years, BNP Paribas accelerated the strategic expansion of its Korean business considerably, supporting our clients growing locally and abroad. BNP Paribas also made significant strides in ESG financing to support transition of the South Korean economy – an ongoing trend that we will continue to see in the New Year. Armed with a wealth of experience in the Corporate and Institutional banking industry, I have every confidence in Aymar’s ability in further strengthening our business in Korea by supporting the needs of our Korean and international clients.”
Aymar was previously Head of Territory and Head of Corporate and Institutional Banking (CIB) for BNP Paribas India. As a 30-year BNP Paribas veteran, Aymar previously held senior management roles at BNP Paribas including Head of Territory for Vietnam, Head of Territory for Czech Republic and Slovakia, Head of Territory for Hungary and South Eastern Europe, Deputy Head of Corporate and Transaction Banking Europe and Head of Corporate Coverage in Transaction Banking, Germany.
Aymar holds a diploma in International Affairs from the European Business School.
BNP Paribas Cardif Life Insurance announced that it is working with the Senior Financial Education Council (SFEC), a non-profit corporation of the Financial Services Commission (FSC), to carry out the ‘Senior Credit Care Academy’ to strengthen seniors’ digital finance and credit management capabilities.
BNP Paribas Cardif Life Insurance is a subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas, and the world leader in creditor insurance.
According to the 「2021 Survey on Digital Divide[1]」, the level of digital literacy of the senior is the lowest among the 4 information vulnerable classes (disabled, low-income class, farmers and fishermen, and the senior), and the use rate of financial transaction services is low as well. These low numbers could indicate a need for digital financial education for the senior.
Since 2019, BNP Paribas Cardif Life Insurance and SFEC have been conducting the ‘Senior Dream High’ program, providing a digital financial education to improve the senior’s literacy in financial area and to protect the rights and interests of seniors as financial consumers. From this year, the curriculum for “Senior Credit Care Academy” has been expanded by adding education on credit management, which is becoming more important during an era of interest rate hike.
The ‘Senior Credit Care Academy’ provided a total of 15 offline lectures by mid-December for participants including the members of SFEC partner organizations from Yeongdeungpo 50 Plus Center and Songpa Welfare Center, as well as BNP Paribas Cardif Life Insurance’s policyholder above the age of 50. Lectures are provided by professional instructors on topics such as ▲how to use mobile banking, ▲how to use integrated account information management, ▲how to prevent financial fraud, and ▲credit management. During the lectures, the participants get to practice what they learnt with the BNP Paribas Cardif Life Insurance employee volunteers. The credit management section added this year deals with the concept of credit, wise credit management methods, and creditor life insurance as a way to prevent the risk of non-payment of loans and the debt inheritance.
Jonathan Oh, the President and CEO of BNP Paribas Cardif Life Insurance, said, “We hope that this CSR activity will contribute to bridging the digital finance gap between generations amid the accelerated development of digital finance after the Covid-19. Also, hopefully the senior financial consumers will prepare for the changing financial environment such as rising interest rates, and lead a more confident financial life through the expanded curriculum”.
BNP Paribas Cardif Life Insurance, which has been leading the way in building a healthy loan ecosystem by providing creditor life insurance, started to implement the ‘Credit Care Program’ this year. The program provides integrated support for credit management, which is a basic of financial life. Under the program, ‘Credit Care Guide’ offers useful information for credit management and ‘Senior Credit Care Academy’ provides credit management economic education for the financially vulnerable, such as middle school students, single parents, and seniors.
[1] Source : Ministry of Science and ICT, National Information Society Agency (2021)
BNP Paribas Cardif Life Insurance is providing the ‘Shinhan Bank Loan Safe Plan’ to help reduce the risk of household debt for the financially vulnerable together with Shinhan Bank.
Shinhan Bank Loan Safe Plan is the first loan repayment guarantee service provided to New Hope Spore Loans[1] customers in credit finance as part of Shinhan Financial Group’s ‘Together Project’ to support the financially vulnerable. With this collaboration, the two companies hope to help protect the household economy amid worsening economic and financial conditions.
BNP Paribas Cardif Life Insurance is a subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas, and the world leader in creditor insurance.
At a time where financial authorities lead several support measures such as the activation of the banking sector’s loan products offering a preferential interest rate for the low-income class and the expansion of the New Hope Spore Loans limit in order to solve the financial difficulties of the financially vulnerable, Shinhan Bank and BNP Paribas Cardif Life Insurance start to provide the ‘Shinhan Bank Loan Safe Plan’, a creditor insurance service that will serve as a stepping stone for a healthy credit management as well as a reliable loan safety device for the low-income class and the low-credit class.
‘Shinhan Bank Loan Safe Plan’, based upon the BNP Paribas Cardif Life Insurance’s ‘(NP) The Safe Group Creditor Insurance (Renewable, 3 Critical Illness Type)’, is a group insurance service in which the insurance company repays the remaining loan balance if the customer, who received Shinhan New Hope Spore, has difficulty in repaying the loan due to an unexpected accident during the service period.
Guaranteed claims is up to KRW 35 million, and the service is provided for up to 12 months from the date of subscription. Since the insurance premium is fully supported by Shinhan Bank, customers can benefit from this service only by agreeing to service subscription after the loan is executed.
Jonathan Oh, the President and CEO of BNP Paribas Cardif Life Insurance, said “The ‘Shinhan Bank Loan Safe Plan’ is a service that manages the entire loan cycle of New Hope Spore customers for the first time in credit finance. As the risk of household debt repayment has recently increased due to high interest rates and inflation, not only the borrowers but credit finance companies are also paying attention to creditor insurance. It is because under the current situation, a comprehensive loan care is advised to prepare for various risks in the loan repayment journey. We hope that the ‘Shinhan Bank Loan Safe Plan’ can be a leading practice case for household loan management by being a practical safety device supporting customers facing loan repayment risks with a successful loan repayment.”
Meanwhile, BNP Paribas Cardif Life Insurance, which has been at the forefront of providing creditor insurance in the domestic insurance market, is also contributing to helping people deal with social problems such as debt inheritance by implementing a ‘Credit Care Program’ that provides integrated support for customers’ credit management along with related products. Currently, the company operates the credit management content hub ‘Credit Care Guide’ to support the healthy credit life of customers, and carries out the ‘Credit Care Academy’, a corporate social responsibility activity focusing on credit management for youth, single parents, and seniors.
[1] Requested by the Financial Supervisory Service (FSS), ‘New Hope Spore Loans’ is operated as one of policy finance loan products by local banks to support the financially vulnerable who meet the certain requirements in regards to their income and credit rating.
BNP Paribas Cardif Life Insurance announced the launch of ‘Credit Care Loan Safe Protection Insurance (NP)’ to support customers’ safe loan repayment and healthy credit management. This product will be provided through General Agency (GA) affiliated with BNP Paribas Cardif Life Insurance.
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas, and the world leader in creditor insurance.
As interest rates continue to rise amid the household loan deregulations, the risk of household debt insolvency is growing nowadays. Under this situation, the importance of safe loan repayment and credit management, which is the basic for having a healthy financial life, has been more emphasized. ‘Credit Care Loan Safe Protection Insurance (NP)’ is a product that repays loans in case of an unexpected accident during debt repayment, and policyholder can get a premium discount benefit through the industry’s first ‘Insurance Risk Score (IRS) Discount Rider’ applied to this new product.
‘Insurance Risk Score’ indexes the level of occurrence of insurance accidents based on the personal credit data, such as loan and card usage, registered in credit information company. This score was developed by BNP Paribas Cardif Life Insurance in collaboration with RGA Reinsurance Company. Depending on the Insurance Risk Score calculated for each section, the main contract premium is discounted by up to 10%. It can be recalculated once a year, and if this score improves, a larger discount rate is applied. Even if the score falls, he/she can maintain the previous premium discount rate, so this will be applied only in the direction of improving customer benefits. A policyholder of ‘Credit Care Loan Safe Protection Insurance (NP)’ can calculate his/her Insurance Risk Score with ‘MY Credit Care Service’ and check various contents that help with credit management and improvement.
Jeong Soo Han, the Head of Product Development department at BNP Paribas Cardif Life Insurance said, “Creditor Insurance is a way for borrowers to prepare for the risk of debt repayment. In addition to this, we support our policyholders to manage their ‘credit’, the basic for a healthy financial life, along with the benefits of ‘Insurance Risk Score (IRS) Discount Rider’ which acquired the exclusive sales right from the Korea Life Insurance Association (KLIA). We hope that it will become a product that contributes to a virtuous cycle in which customers receive premium discount benefits through their credit management, insurance companies lower the risk of insurance accidents through customer’s credit management, and socially reduce problems resulting from household default.”
The ‘Credit Care Loan Safe Protection Insurance (NP)’ can be subscribed from the age of 19 to 65, and in addition to the main contract that guarantees death, policyholder can also prepare for cancer, cerebral hemorrhage, acute myocardial infarction, and TPD (Total Permanent Disability) through special contracts. In case of subscriber with the age of 40 who receives the 10% of maximum discount rate (IRS section 1), the monthly premium is KRW 27,810 for men and KRW 18,000 for women (Standard: face amount of KRW 100 million for the main contract, 20 years of maturity, whole period, monthly premium frequency).
In addition, BNP Paribas Cardif Life Insurance is implementing a ‘Credit Care Program’ so that general customers and financially vulnerable groups other than subscribers can understand the concept of credit and manage it steadily. To provide useful contents for safe loan repayment and wise credit management, a ‘Credit Care Guide’ was newly established on the official website. For the financially vulnerable, the ‘Credit Care Academy’, which reorganized existing economic education CSR activities, is undergoing in order to more focus on the education for credit management.
BNP Paribas announces today that it is participating as an official sponsor to the 24th Seoul International Women’s Film Festival for the fourth consecutive year since 2019. This year, the firm will lend its support towards the discovery of female talent in short film production through the ‘BNP Paribas Asian Shorts Award’.
Since 1997, the Seoul International Women’s Film Festival has led the development of the film industry by discovering female filmmakers and sponsoring women’s film projects. It has established its status as the hub of women’s film network in Asia Pacific. This year’s film festival will be held at the Megabox Sangam World Cup Stadium and the Oil Tank Culture Park in Seoul until 1 September and will showcase 122 films from 33 countries.
BNP Paribas has been an avid supporter of the global film industry for over 100 years. At this year’s film festival, the firm’s supported film “Eiffel” (2021) will be featured; following last year’s special screening of another BNP Paribas supported film “WOMAN” (2019). “Eiffel” is based on the story of Gustave Eiffel, the architect who designed the Statue of Liberty, completing the Eiffel Tower to commemorate the 1889 World Expo in Paris. With a realistic biography and romantic love story, it was well-received by the audience when it was released in theatres in 2021.
Philippe Noirot, Territory Head of BNP Paribas South Korea, said: “While it was not possible to watch movies in theatres at the peak of COVID-19 pandemic, I am glad that audiences can now enjoy the splendour of movies from the big screen safely at the festival and continue supporting the culture of gender equality in the film industry.”
“Diversity, Equality and Inclusion are some of the most important values of BNP Paribas. As a global bank, we hope that gender equality can be realized in the Korean film industry in line with the high status of Korean culture, and that our continued support will make a difference towards the development and support of female filmmakers in Korea,” added Noirot.
Meanwhile, BNP Paribas has been making strong efforts to achieve gender diversity. It has set a target of raising the percentage of female executives on the board to 40% by 2025. In addition, BNP Paribas joined OneInThreeWomen network and also signed #JamaisSansElles, the social solidarity movement, for the first time among the global financial institutions to support gender equality.
BNP Paribas Cardif Life Insurance announced that it has signed a bancassurance partnership agreement with BNK KyongNam Bank, and started to offer ‘(NP) Safe Dream Personal Accident Insurance’ through BNK KyongNam Bank’s 132 branches (as of the end of March 2022).
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas.
‘(NP) Safe Dream Personal Accident Insurance’ is a ROP (return of premium) type of insurance which guarantees a death benefit as well as the return of paid insurance premiums at the time of death. In case that no accident has occurred at the time of maturity, 100% of paid insurance premiums will be paid back.
Both corporate and individual customer can subscribe, so individuals can prepare for unexpected accidents in their daily life, and corporates can prepare for the risk of CEO absence due to accidents.
Customers have the choice between two types of coverage: <PA death protection> and <General PA protection>. If a customer select <PA death protection>, ‘KRW 300 million + insurance premium paid at the time of death’ in case of death from a traffic accident, and ‘KRW 200 million + insurance premium paid at the time of death’ in case of death due to a general accident other than a traffic accident (Face amount of KRW 100 million). If a customer select <General PA protection>, he/she will be guaranteed coverage for disability, surgery and fracture treatment in addition to death from traffic and non-traffic accidents. Along with its non-renewable nature, this product lowers the burden of increasing insurance premiums. In addition, customers can receive annuity in preparation for their post-retirement life by selecting the annuity conversion rider.
Park Bong-soo, Chief Sales Officer of Bancassurance Department at BNP Paribas Cardif Life Insurance said, “‘(NP) Safe Dream Personal Accident Insurance’ prepares for unexpected accidents and provides 100% of the premiums paid at maturity, providing customers with more peace of mind. Through the recent partnership between BNP Paribas Cardif Life Insurance and BNK KyongNam Bank, we hope that this product will be a reliable safety net for customers in Kyongnam region as well.”
‘(NP) Safe Dream Personal Accident Insurance’ can be purchased from the age of 25 to 70 with the insurance period of 3 years / 5 years / 10 years (Regular or Single Payment). The face amount of insurance can be up to KRW 100 million for both <PA death protection> and <General PA protection> types.
After subscribing to ‘(NP) Safe Dream Personal Accident Insurance’, customers can view and manage their comprehensive financial assets, including insurance, through the ‘MY Assets’ service of BNK KyongNam Bank’s mobile banking app.
BNP Paribas Cardif Life Insurance announced that the company developed the ‘Insurance Risk Score (IRS) Discount Rider’ for the first time in the industry using credit data to provide premium discount benefits. It had obtained an exclusive sales right for this rider for 3 months from the Korea Life Insurance Association (KLIA)’s New Product Review Committee on July 1st.
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas, and the world leader in creditor insurance.
Nowadays, the use of big data is emerging as an essential competitiveness of financial companies to create various customer values. BNP Paribas Cardif Life Insurance, which has been at the forefront of providing ‘Creditor Insurance’ in the domestic insurance market, developed the industry’s first ‘Insurance Risk Score Discount Rider’, while paying attention to consumer’s ‘credit data’, whose management has become more important with the recent surge in household debt and interest rate hikes.
The ‘Insurance Risk Score Discount Rider’ is a special contract that provides a discount on insurance premiums using the ‘Insurance Risk Score’, which indexes the level of insurance of deadly accidents according to personal credit data. By presenting a new big data utilization model along with credit data, BNP Paribas Cardif Life Insurance acquired the exclusive sales right in recognition of its ▲originality and ▲progressivity.
Additionally, it has been also recognized for its ▲effectivity encompassing customers, insurance companies, and the insurance industry. With the ‘Insurance Risk Score Discount Rider’, customers can get a motivation for continuous credit management/improvement, insurance companies can effectively manage insurance risk by encouraging customers to improve their credit, and insurance industry can also expand the scope of their role from the traditional insurance business to consumer credit management.
Considerations in terms of protecting the rights and interests of financial consumers were also reflected. The higher the Insurance Risk Score, the greater the premium discount benefits, but there is no premium surcharge due to the low score. In addition, the product was developed only in the direction of improving customer benefits through a premium discount system, for example, even if a subscriber’s Insurance Risk Score falls, he/she can maintain the previous premium discount rate. Furthermore, customers can recalculate the Insurance Risk Score once a year, so they are continuously provided with insurance premium discounts and opportunities to increase discounts.
‘Insurance Risk Score Discount Rider’ will be first applied to new creditor insurance product to be launched in the second half of the year. BNP Paribas Cardif Life Insurance, which is taking the lead in promoting domestic creditor insurance, is also planning to implement a ‘Credit Care Program’ that provides integrated support for customers’ credit management in stages. Through the ‘Credit Care Program’, the company will continuously provide content that helps with credit management, and conduct donation campaigns to support low- and medium-credit users, thereby not only supporting customers’ credit management, but also contributing to solving social problems such as household debt and debt inheritance issues.
Jonathan Oh, the President and CEO of BNP Paribas Cardif Life Insurance said, “As big data has become a hot topic in the overall financial industry, healthcare insurance products using health data have been around for a long time. We have been contemplating for a long time how to utilize big data that can provide new experiences and benefits to our customers, and we are happy to be recognized for the industry’s first ‘Insurance Risk Score Discount Rider’, which was introduced by consolidating our creditor insurance expertise. As the ‘Credit management’ goes beyond loans and is the fundamental of a healthy financial life, we expect that many consumers will agree with our efforts and receive practical benefits.”
BNP Paribas announced on June 27 that it has held its 12th annual charity bazaar at the Beautiful Store (Anguk Branch) – a non-profit orgnisation and charity shop dedicated to promoting environmental awareness by collecting donations of used or worn-out items and selling them to raise money for charity.
The charity bazaar – taking place for the 12th consecutive year since 2011 – is jointly organised by BNP Paribas Seoul Branch, BNP Paribas Securities Korea and BNP Paribas Cardif Life Insurance as part of the BNP Paribas Group’s ongoing efforts to support the underprivileged in local communities the bank operates in.
To promote the awareness of environmental protection, BNP Paribas employees donated second-hand goods including clothes, toys, books and shoes for sale at the charity bazaar. Proceeds raised from the event will benefit underprivileged children at the children’s welfare centres. BNP Paribas employees also took active parts by supporting the bazaar as volunteers.
Philippe Noirot, Territory Head of BNP Paribas South Korea, said: “We are glad to contribute to the preservation of the environment and help the local community through BNP Paribas’ charity bazaar – where employees actively participated as volunteers; and donated pre-loved items for sale to raise money. As the bank for a changing world, we feel strongly about enhancing awareness and supporting causes and that benefit the environment and society. We will also strive to be the leader in ESG management by implementing activities that contribute towards positive development of the environment and community at large.”
BNP Paribas is also currently organising various charity events as part of its annual fund raising campaign to raise funds from employees’ donations. All funds raised from the campaign will be donated to “The Beautiful Store” to support the underprivileged children at the children’s welfare centres.
BNP Paribas Cardif Life Insurance announced the launch of ‘Signature AI Variable Annuity (Non-dividend type)’, which helps customers prepare for the future funds along with asset management using AI (artificial intelligence) technology, and provided this new product through General Agency (GA) channel.
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas.
The proportion of the elderly population in Korea is rapidly increasing and it is expected to enter a super-aging society in 2025. The relative poverty rate of people over the age of 66 in Korea was ranked first among 37 OECD countries (as of 2018).[1] On the other hand, when looking at the sources of income for people in retirement age, more than half (52.0%) of them depended on earned income, and they did not prepare for old age through public/private pensions such as the national pension or personal pension.[2]
‘Signature AI Variable Annuity’ provides both an ‘AI fund’ and ‘ETF fund’. ‘AI fund’ provides investment services using AI technology that is growing worldwide while the advantages of ‘ETF fund’ are low cost and diversified investment. With this new product, we offer a variety of investment options to customers who want to prepare for the retirement funds.
The AI fund composes an optimal investment portfolio with AI algorithms and asset management companies’ advice. ‘Signature AI Variable Annuity’ provides a total of 4 AI funds which are equipped with a specialized AI algorithm (Mirae Asset AI, Fount, Shinhan NEO, and KB Anderson) respectively so that customers can make the most of the advantages of AI fund investment by selecting as many as they want, based on their investment preferences. Customers who want to invest in ETFs can choose individual ETF funds to invest in sectors such as gold, dollars, and bonds.
Lee Seung Soo, Chief Investment Officer (CIO) said, “Since we launched the industry’s first variable insurance offering ETF model portfolio investment, BNP Paribas Cardif Life Insurance has been rapidly reflecting customer needs and market trends for convenient and professional asset management. By providing a variety of AI algorithm-based funds in specialized investment areas from each asset management company, ‘Signature AI Variable Annuity’ enables more systematic diversified investment and rapid response to market conditions. Furthermore, as not only a single AI fund but also up to 4 AI funds can be selected at the same time, the scope of investment and customers’ options have been further expanded. We hope that this new product, which enables more sophisticated and convenient asset management in the recent volatile market, will serve as a reliable investment solution for customers who prepare for the future funds.
‘Signature AI Variable Annuity’ can be selected from two types: the <General Death Type> that guarantees death and the <Disaster Disability Type> that guarantees a high degree of disability. It can be subscribed up to age 70 depending on the policy period and product type. Policyholder can choose a payment option for basic insurance premiums between regular premium (monthly KRW 100,000 or more) and single premium (KRW 30 million or more). If a policyholder wants more stable profit management after accumulating profit for a certain period of time, he/she can use ‘general account conversion’ which is accumulated at the declared interest rate, or transfer of reserves into ‘bond ETF type funds’.