Dongyang Life Launches 'Naegamandeuneun Woorai Insurance' Allowing Customizable Coverage Choices

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance announced on the 7th that it has launched the 'Guardian Angel My Custom-Made Child Insurance,' which allows customers to freely choose the desired coverage to provide tailored protection for their children.

Unlike existing products with fixed coverage and amounts, subscribers can select the necessary coverage according to their desired premium level through up to 25 detailed riders.

Depending on the insured's age, one can subscribe to either Type 1 (Fetal Type) or Type 2 (Child Type). Type 1 is available before birth and covers cancer, minor cancer, and hospitalization as the main contract, while Type 2 covers disability caused by accidents.

For Type 1 subscribers, a diagnosis of cancer or minor cancer results in a payment of 10 million KRW each. In case of hospitalization due to illness or accident, a daily hospitalization benefit of 30,000 KRW is provided from the first day, up to a limit of 120 days per admission.

Type 2 provides coverage calculated by multiplying 10 million KRW by the disability payment rate if the insured becomes disabled due to an accident.

The eligible subscription age ranges from 0 to a maximum of 15 years, and both the main contract and riders provide coverage up to 100 years of age without premium increases. Premium payments are waived if disability exceeds 50%.

A Dongyang Life Insurance official stated, "We developed this product to provide coverage tailored to each customer's individual needs through customized product design," adding, "By allowing customers to add only the necessary coverage, they can receive more reliable protection."

This content was produced with the assistance of AI translation services.