DGB Life Provides Special Financial Support for Customers Affected by Heavy Rainfall

[Asia Economy Reporter Oh Hyung-gil] DGB Life Insurance announced on the 13th that it will implement special financial support to help customers affected by the recent heavy rains and to support rapid disaster recovery.

DGB Life will take measures to allow customers affected by the heavy rain to defer their insurance premium payments. The premium payment deferral is available from the date of damage until January 31, 2021, and coverage specified in the subscribed insurance policy will continue to be provided during the deferral period.

For insurance policy loans, principal and interest repayments can be deferred for a certain period, and additional interest on overdue interest will also be waived. For the deferred principal and interest of insurance policy loans, installment payments are supported, with the installment period set within one year if the loan principal and interest amount is 5 million KRW or less, and within two years if it exceeds 5 million KRW.

Additionally, regarding claims related to the heavy rain damage, early payment can be supported up to 50% of the estimated insurance payout upon receipt of the claim.

This special financial support will be applied retroactively from the 1st of this month and will be in effect until January 31, 2021. Applications can be made by submitting a ‘Disaster Damage Confirmation Certificate’ through the DGB Life call center, Seoul customer center, or any branch nationwide.

A DGB Life official stated, “We will spare no effort to provide prompt support so that customers affected by this heavy rain incident can return to their daily lives as soon as possible,” and added, “DGB Life will continue to do its best to help customers going through difficult times even a little.”

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