Kyobo Life Partners with Seoul Bar Association to Sell Insurance
[Asia Economy Reporter Oh Hyung-gil] Kyobo Lifeplanet Life Insurance announced on the 20th that it will sell three affiliated insurance products in partnership with the Seoul Regional Bar Association.
The products include 'Lifeplanet e-Term Insurance II,' 'e-Women's Health Insurance,' and 'Non-Renewable e-Cancer Insurance II (No Surrender Value),' which will be sold exclusively to members of the Seoul Regional Bar Association. Various benefits such as group special contract premium discounts will be provided.
'e-Term Insurance' offers coverage equivalent to whole life insurance but with an average premium of only about 20% of whole life insurance premiums. It provides coverage up to 500 million KRW and allows policyholders to set the focused coverage period as desired for only the necessary duration. The 100% maturity refund type returns all paid premiums at maturity, enabling both financial support for surviving family members in case of unforeseen events and accumulation of a lump sum.
'e-Women's Health Insurance' is a women-focused product that covers up to 20 million KRW for diagnosis of major cancers (stomach, liver, lung), female reproductive cancers, breast cancer, thyroid cancer, and other severe female diseases. It also covers arthritis, gout, gynecological diseases, and more. The 'Non-Renewable e-Cancer Insurance' combines the advantages of existing cancer insurance products, allowing stable coverage without premium increases until maturity at age 100, with premiums fixed at the time of subscription.
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Kim Sung-soo, Marketing Manager at Kyobo Lifeplanet, said, "It is very meaningful to introduce our excellent products to more customers," adding, "As a leading domestic digital insurer, we have been pioneering a new insurance market with products and services tailored to customer needs, and we plan to expand the market through discovering and cooperating with a wide range of partners."
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