Yongsan-gu Hyochang-dong Community Service Center Supports Vulnerable Groups in Enrolling in Happiness Insurance

Connecting sponsors and supporting insurance enrollment for National Basic Livelihood Security recipients and near-poor groups to protect vulnerable populations from disasters like COVID-19... Coverage for disaster treatment hospitalization and surgery costs for 1 to 3 years

Lee Jeong-nam, the head of Hyochang-dong (right), has become the first sponsor of the Happiness Insurance.

[Asia Economy Reporter Park Jong-il] The Yongsan-gu Hyochang-dong Community Service Center (Director Lee Jeong-nam) is conducting a support project for subscribing to the ‘Happiness Insurance’ to protect vulnerable groups from disasters such as COVID-19.

Happiness Insurance is a public interest-type accident insurance. Its official name is Non-dividend 10,000 Won Happiness Insurance, and it has been sold by the Post Office since 2010 to support medical expenses for low-income groups who find it difficult to even subscribe to minimal insurance.

The insurance subscription conditions are for National Basic Livelihood Security recipients, near-poverty groups, single-parent families, disability pension recipients, etc., targeting residents aged 15 to 65.

The subscription amount (subscriber’s burden) is 10,000 Won (1-year maturity) or 30,000 Won (3-year maturity), and the remaining amount (21,100 to 81,100 Won) is supported by the Ministry of Science and ICT.

The coverage includes ▲Maturity benefit (100% refund of subscription fee if alive at maturity) ▲Bereavement consolation money (20 million Won in case of death due to accident) ▲Accident hospitalization benefit (10,000 Won per day for hospitalization of 4 days or more for accident treatment, up to 120 days) ▲Accident surgery benefit (100,000 to 1,000,000 Won for surgery for accident treatment), etc.

The community service center connects sponsors to subscribe vulnerable groups to accident insurance. The first sponsor is Lee Jeong-nam, Director of Hyochang-dong, and the second sponsor is Kim Bong-sik, Head of the Senior Citizens’ Association Yongsan-gu Branch’s Senior Department.

Director Kim Bong-sik said, “I have always wanted to help low-income residents, and I feel great fulfillment to be able to support insurance subscriptions that are guaranteed for three years, not just one time.”

Residents who want to participate in sponsoring vulnerable groups can inquire at the Hyochang-dong Community Service Center.

Lee Jeong-nam, Director of Hyochang-dong, said, “Watching the COVID-19 situation, I felt the urgent need to establish a social safety net for vulnerable groups,” and added, “We will support insurance subscriptions for National Basic Livelihood Security recipients, near-poverty groups, etc., contributing to practicing a culture of sharing and creating a safe Hyochang-dong.”

Bongsik Kim, Head of the Senior Department at the Yongsan-gu Branch of the Korea Senior Citizens Association (far left), participated in supporting the Happiness Insurance.

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