IBK Industrial Bank and Lotte Insurance Sign Agreement for Free Accident Insurance Service
For Employees of Newly Enrolled Companies in the Retirement Pension System
IBK Industrial Bank announced on the 10th that it signed a business agreement with Lotte Insurance on the 8th to provide free accident insurance services to employees enrolled in retirement pensions.
The free accident insurance service provided through this agreement is targeted at employees of companies newly introducing Defined Contribution (DC) retirement pensions and corporate IRPs, covering accidental death and permanent disability (coverage up to 10 million KRW) and fracture surgery expenses (coverage up to 100,000 KRW).
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An IBK Industrial Bank official explained, "Following the revision of the retirement pension fee system in April to reduce financial costs for small businesses, startups, and others, this business agreement will provide practical additional services to employees of small and medium-sized enterprises."
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