NH Nonghyup Life "Launch of New 30 Million NH Disaster Insurance (Non-Participating), CEO is the First Subscriber"

[Asia Economy Reporter Changhwan Lee] NH Nonghyup Life announced that CEO In-tae Kim became the first to subscribe to the newly launched 'New Samcheonmanin NH Accident Insurance (Non-Participating)' on the 11th at the Nonghyup Life Building located in Seodaemun, Seoul.

'New Samcheonmanin NH Accident Insurance (Non-Participating)' is a product created reflecting the recent increase in the number of drivers and car accidents. The product name Samcheonmanin originates from the approximately 33 million licensed drivers in South Korea as of the end of 2021.

Among the main contracts, the 'Automobile Injury Treatment Benefit' provides coverage when injury occurs due to a car accident during the insurance period, classified into grades from 1 to 14 according to the Enforcement Decree of the Automobile Damage Compensation Guarantee Act. Based on an insured amount of 50 million KRW, the coverage amount is detailed from 50 million KRW for grade 1 to 500,000 KRW for grade 14.

A unique feature of this product is that it also covers certain statutory infectious diseases. For the four major outdoor statutory infectious diseases?Severe Fever with Thrombocytopenia Syndrome, Tsutsugamushi Disease, Leptospirosis, and Hemorrhagic Fever with Renal Syndrome?a diagnosis provides 1 million KRW per occurrence, and for other specific statutory infectious diseases, 300,000 KRW per diagnosis is covered (based on an insured amount of 50 million KRW).

This product is available only to drivers and can be subscribed up to age 80. The insurance period can be chosen as 10 years, 20 years, or until age 80 or 90 depending on age. The payment period also offers flexibility, ranging from a minimum of 3 years to a maximum of 20 years. Prepayment is allowed up to 35 months, enhancing premium payment flexibility. The premium for a 40-year-old male with a 50 million KRW insured amount, maturity at age 80, and 10-year payment period is 39,200 KRW per month.

CEO In-tae Kim said, “This product is a groundbreaking offering that covers injuries caused by car accidents, which have not been covered in the life insurance sector until now,” adding, “I am pleased that NH Nonghyup Life has expanded the scope of coverage it can provide, creating an opportunity to offer better services to customers.”

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