Kyobo Life Launches Specialized Insurance for Injury and Illness Targeting Alpha (α) and Z Generations

[Asia Economy Reporter Changhwan Lee] Kyobo Life Insurance announced on the 1st that it has launched the ‘(Non-Participating) Kyobo Support You Know (αz) Protection Insurance’ to help adolescents become healthy future leaders.

This product is a specialized accident and disease insurance for the active Alpha and Z generations, characterized by providing broad coverage for various injuries and illnesses to ensure that adolescents can grow up safely and healthily.

First, through the main contract, coverage is provided for accident disabilities, burns and corrosion, and treatment for disabilities caused by accidents or diseases. Additionally, to help children sensitive about their appearance grow up bright and safe, it covers burn treatment surgery, specific appearance injury surgery, restoration treatment costs for accident scars on appearance (face, head, neck), violent crimes, and hospitalization for growth disorder-related diseases.

Strengthening coverage for injuries and illnesses frequently occurring during adolescence is also an advantage.

It covers treatment for injuries such as knee ligament tears and cartilage damage surgery, herniated disc surgery, accident fractures and cast treatment, as well as frequent diseases including specific auditory and olfactory disease surgeries, hemorrhoid and hernia surgeries, and hospitalization due to food poisoning.

Through various riders, it covers emergency room visits, hospitalization due to diseases and accidents, complex regional pain syndrome (CRPS), influenza, pneumothorax, etc., and provides accident disability pensions and consolation payments for disabilities to prepare for unexpected accidents, including education and rehabilitation treatment expenses.

In particular, the newly introduced automobile injury treatment rider for adolescents, for whom vehicle travel is routine, draws attention. It pays treatment costs ranging from 100,000 KRW to 8,000,000 KRW depending on the injury grade in case of automobile accidents occurring while driving, riding as a passenger, or walking.

At subscription, customers can choose between a ‘30-year plan’ with a 30-year insurance period and a ‘20-year plan’ with a 20-year insurance period. Upon maturity, the 30-year plan pays back the full amount of the main contract premiums paid, and the 20-year plan pays a maturity refund of 4,000,000 KRW (based on a subscription amount of 10,000,000 KRW).

Choi Doo-ho, head of Kyobo Life Insurance Product Development Team 2, said, “We will do our best to help the Alpha and Z generations grow up bright and healthy through optimized customized coverage for injuries and diseases frequently occurring during adolescence.”

This product is available for subscription from ages 10 to 25. Subscribers receive the ‘Kyobo Junior Healthcare Service II,’ which adds ophthalmic disease prevention and management, growth period nutrition and exercise management, academic ability improvement, and psychological stability programs to a health management program tailored to each growth stage. Additionally, families raising pets can apply for the ‘Pet Care Partnership Service,’ which offers various benefits.

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