Shinhan Life to launch flexible switching savings insurance

Shinhan Life has announced the upcoming launch of the ‘Shinhan Super SOL Life Switching Savings Insurance (Non-dividend)’ on November 2. The product features a unique ‘Switching Plan’ that allows policyholders to transition from accumulating savings to receiving health coverage at a time of their choosing.

Under this plan, customers can select various coverage options—including cancer, cerebral hemorrhage, acute myocardial infarction, dementia, and death—without undergoing additional medical underwriting, provided they meet specific requirements established at the time of the primary contract. To fund these protections, policyholders can use a portion of their accumulated savings to pay premiums in a lump sum.

The product is available in two types: ‘Type 1 Savings Only’ and ‘Type 2 Life Switching.’ Switching options become available 10 years after the primary contract is signed, provided the customer applies at least two years in advance. The coverage period for these riders is 10 years. The insurance will be sold through the ‘Shinhan Super SOL’ integrated platform app.