Shinyoung Securities announced on the 10th that it has launched a product called 'insurance claim trust rights' that allows for the management of death benefits and the design of various payment plans, making it the first among securities firms.
'Insurance claim trust rights' is a product that converts the death benefit of a life insurance contract into a trust structure, where the trust company holds and manages it, and pays it to the beneficiaries according to conditions designated in advance by the grantor.
Unlike the previous method where the insurance benefit was paid to the beneficiaries as an immediate lump sum, utilizing this trust structure allows for customized designs based on the grantor's objectives and circumstances.
In particular, Shinyoung Securities explained that this product can be used to design various payment plans such as ▲ regular living expenses for beneficiaries ▲ funding inheritance tax ▲ installment withdrawals for major life events like marriage or school enrollment.