Budget Phone 'iPhone-Only Insurance' Released... Covers Loss Compensation
U+Altteul Mobile iPhone-Only Insurance Launching Mid-Month
Coverage Up to 1.2 Million KRW for Loss and Damage at 5,900 KRW/Month
[Asia Economy Reporter Han Jinju] U+Altteul Mobile is launching the first iPhone-exclusive mobile phone insurance in the budget phone industry.
On the 2nd, Media Log announced that it will launch an iPhone mobile phone insurance product in mid-month and begin pre-orders.
Until now, there has been no iPhone-exclusive insurance product in the budget phone market that covers loss as well. With the recent release of the iPhone 12, U+Altteul Mobile introduced an insurance product to reduce concerns about loss and damage as more consumers purchase unlocked devices and use them with budget phone plans.
U+Altteul Mobile's iPhone insurance offers a total of three types: two comprehensive plans covering both loss and damage, and one damage-only plan. The price and coverage are similar to those of the iPhone insurance products from the three major carriers.
Loss & Damage Insurance 120 (5,900 KRW/month) covers devices priced at 900,000 KRW or more, providing the same device in case of loss and up to 400,000 KRW for damage. Loss & Damage Insurance 90 (4,700 KRW/month) compensates up to 350,000 KRW for damage. Damage Insurance 50 (2,800 KRW/month) covers up to 350,000 KRW for damage with a maximum compensation limit of 500,000 KRW.
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Customers can enroll in mobile phone insurance for newly purchased unlocked iPhones. Applications can be made within 30 days of purchase at U+Altteul Mobile customer centers or direct stores. iPhone mobile phone insurance can be subscribed for up to 36 months and can be canceled at any time if desired. To celebrate the launch of the iPhone insurance, U+Altteul Mobile is running a promotion supporting insurance premiums for six months.
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