NH Nonghyup Life Provides Rice Sharing and Financial Support for Victims of Heavy Rainfall

[Asia Economy Reporter Changhwan Lee] NH Nonghyup Life Insurance announced on the 12th that it has delivered 15,000 kg of rice to customers and disaster victims affected by the recent heavy rains.

This rice sharing was carried out through the Korean Red Cross and the Comprehensive Support Center for the Elderly Living Alone. It is scheduled to be delivered mainly to the metropolitan area and Chungcheong region, where heavy rain caused significant damage.

In the future, after assessing the damage caused by the heavy rains, the company plans to focus on volunteer work by employees in rural and flood-affected areas.

In addition to material support, financial assistance will also be provided. First, insurance premium payment deferrals will be offered until October 31 for victims and their families, as well as agricultural businesses affected by the heavy rains.

Deferrals can be made for up to six months including the month of application, and installments can be paid for up to two months after the deferral period. When reinstating contracts currently in a lapsed state, late fees can be waived. The application deadline is February 28 of next year.

Measures for credit support have also been prepared. Existing borrowers who meet the same collateral conditions as at the time of the original loan issuance can extend the loan term regardless of their credit rating.

Interest payments (excluding late fees) can be deferred for up to 12 months from the final interest payment date. Installment payments can also be deferred for up to 12 months from the installment payment date within the installment repayment period. Applications for credit support will be accepted until December 31.

Kim Intae, CEO of NH Nonghyup Life Insurance, said, “Many people have suffered damage due to the sudden heavy rains recently,” and added, “We will do our best to help disaster victims and flood victims return to their daily lives quickly through material and financial support.”

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