Dongyang Life Launches Living Expense Assurance Insurance Providing Permanent Disability Living Expense Coverage

Dongyang Life Insurance launched the 'Guardian Angel Living Expense Assurance Insurance for When I Am Sick' on the 15th, which guarantees living expenses for 15 years if a permanent disability of a certain level or higher occurs due to illness or accident.

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance launched the 'Guardian Angel Even If I Am Sick Living Expense Assurance Insurance' on the 15th, which guarantees living expenses for 15 years if a certain level of permanent disability occurs due to illness or accident.

In the event of a permanent disability above a certain level, a disability living allowance is guaranteed for 15 years (180 payments), helping to prepare for potential loss of earned income.

If the disability reaches 60% or more, a monthly 'Disability Living Allowance I' of 500,000 KRW is paid for 15 years. If the disability reaches 80% or more, an additional 'Disability Living Allowance II' of 500,000 KRW per month for 15 years can be received once at the initial occurrence.

In case of an 80% or higher disability from the same cause, a monthly disability living allowance of 1,000,000 KRW can be received. However, for disabilities occurring within less than one year from the contract date due to illness, only 50% is paid.

In the event of accidental death, a death benefit of 50 million KRW is guaranteed for the bereaved family, and if the insured survives on the contract anniversary after 2, 4, 6, 8, and 10 years, a health checkup insurance benefit of 200,000 KRW is paid each time. Additionally, a maturity benefit of 2 million KRW can be received at the end of the contract.

Additional coverage is available through nine supplementary riders. The Spinal Disease Coverage Rider Type 2 pays for hospitalization, surgery, and physical therapy costs related to spinal diseases. A specific physical therapy benefit for spinal diseases has been developed, providing 5,000 KRW once per day for up to 10 sessions annually for treatments such as superficial heat therapy and interferential current therapy (ICT). Diagnosis fees for herniated discs and treatment costs for spinal fractures are also covered.

The Three Major Diseases Living Expense Coverage Rider pays a monthly living expense of 500,000 KRW for five years, once at the initial diagnosis confirmation for each of the three major diseases: cancer, cerebral hemorrhage, and acute myocardial infarction, depending on the rider type.

The eligible age for subscription is from 20 to a maximum of 60 years old, and the insurance period can be selected between 20 or 30 years. Premium payments are waived in case of a disability of 50% or more.

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