Kyobo Lifeplanet Partners with Bomap... Launches Two Types of Regular and Cancer Insurance

[Asia Economy Reporter Oh Hyung-gil] Kyobo Lifeplanet Life Insurance, an internet-only life insurance company, announced on the 13th that it has newly launched two partnership products in collaboration with insurtech company Bomap.

The newly released products are “(Non-Participating) Lifeplanet e Term Insurance II” and “(Non-Participating) Non-Renewable e Cancer Insurance Until Maturity (No Surrender Value Type).” These were selected from Kyobo Lifeplanet’s existing popular products and decided to be sold in connection with Bomap.

These products are sold through Bomap’s insurance coverage analysis service called “Coverage Fitting Service,” where they are exposed as recommended products when customers use the service. The “Coverage Fitting Service” analyzes customers’ current insurance subscriptions and recommends optimal products for coverage gaps or excesses based on existing insurance products and coverage details. Customers can easily find necessary products at reasonable premiums through “My Insurance Inquiry.”

“(Non-Participating) Lifeplanet e Term Insurance” is a popular Kyobo Lifeplanet product that offers coverage equivalent to whole life insurance but with an average premium of only about 20% of whole life insurance premiums, earning steady love from many customers. It provides coverage up to 500 million KRW based on the insured amount, and customers can directly set the coverage period as desired for the period when coverage is truly needed. “(Non-Participating) Non-Renewable e Cancer Insurance Until Maturity” is a premium product combining the advantages of existing cancer insurance, allowing customers to receive stable coverage without premium increases up to age 100 maturity with the initial premium at the time of subscription.

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