Tongyang Life Insurance Launches Mini Insurance for Traffic Accidents and Injuries
Up to 1 Million KRW Per Incident
Premiums Up to 4,000 KRW
On June 2, Tongyang Life Insurance announced the launch of the "(Mu) Guardian Angel Mini Traffic Accident Insurance," a lifestyle-focused insurance product designed to protect against everyday traffic accidents and related risks.
If a traffic accident occurs during the insurance period and directly results in the insured being classified as an "emergency patient" and receiving treatment in the emergency room, the policy provides a benefit of 100,000 KRW per visit. Additionally, if the insured is diagnosed with a "fracture due to an accident" (including dental fractures), the policy pays 100,000 KRW per incident.
If a traffic accident is the direct cause of an injury that requires more than three weeks of treatment, classified as a "serious traffic injury," the policy provides a benefit of 1,000,000 KRW per incident.
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Eligible applicants are between 20 and 70 years old. The insurance period is one year, with a single premium payment. The premium ranges from around 1,000 KRW to a maximum of 4,000 KRW, regardless of age.
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