변액보험의 예금자보호에 관한 연구

Abstract

Variable Life Insurance means insurance product which all or part of paid insurance premium is added to the separate account and it’s management performance is reflected in the insurance benefit and the benefit is connected with asset management performance. Variable Life Insurance is classed as a product of high possibility of an incomplete sale, and sometimes this is the reason the consumers turn away from the insurance. To improve the these problems Depositor Protection Act was revised and entered into force on June 23, 2016, guaranteed minimum benefit option of Variable Life Insurance was newly qualified for protection under the Act. Accordingly from now on depositor protection program will be applied to Variable Life Insurance within a range of the guaranteed minimum benefit. In other words as a new Depositor Protection Act if the insurance company could not pay the guaranteed minimum benefit to the Variable Life Insurance customer on account of bankruptcy and so on, the Korea Deposit Insurance Corporation would pay with in a range of fifty million won of guaranteed minimum benefit on behalf of insurance company. And duties of identification and description on depositor protection program was newly introduced by the Act, every policyholder including Variable Life Insurance one is able to buy insurance policy after hearing sufficiently about the program. However there are several problems with the revised Depositor Protection Act as following. First, target and range for depositor protection of Variable Life Insurance regulated on the Depositor Protection Act are ambiguous, and it can create confusion to the customer. Second, the scope of depositor protection is rather narrowly specified and it will not be enough for customer protection Third, calculation for insurance premium of Variable Life Insurance is the same with the general insurance. And this is unreasonable because when calculating the premium, distinctiveness of Variable Life Insurance should be taken into consideration. In this dissertation I would like to review Variable Life Insurance and depositor protection program and main issues on depositor protection program of Variable Life Insurance. And finally I will point out several problems in the depositor protection program of Variable Life Insurance and present reasonable improvement proposal.