Tongyang Life Insurance Launches "Uri WON Growing Child Protection Insurance" ... "Enhanced Coverage in Adulthood"

Tongyang Life Insurance announced on March 16 that it has launched the children's insurance product "(Mu) Uri WON Growing Child Protection Insurance," designed to provide solid coverage from childhood through adulthood.

This product is designed with consideration for a child's lifetime economic value, featuring a structure where the value of coverage assets increases over time. In particular, a "step-up" structure has been introduced so that, starting from 20 years after enrollment, the coverage amount increases up to 200% of the initial insured amount, aligning with the period when medical expenses tend to rise in adulthood. For example, if the initial cancer diagnosis benefit is 50 million won at enrollment, after 20 years, the coverage can double to 100 million won, helping to offset inflation.

Special benefits for long-term policyholders have also been added. The "Bonus Protection Service" is provided at the 10th and 20th year milestones after enrollment, and at the 30th year for 30-year payment plans.

There are two types of plans, which can be selected according to coverage strategy. The comprehensive coverage plan broadly covers major illnesses such as hospitalization benefits, surgical expenses, cancer, cerebrovascular, and ischemic heart disease diagnosis. The three major diseases coverage plan focuses on cancer, brain, and heart disease diagnosis benefits—leading causes of death among Koreans—to maximize efficiency.

Enrollment is available from the fetal stage up to age 15, and premium payment periods can be chosen among 15, 20, or 30 years.

A Tongyang Life Insurance representative stated, "This new product is practical, not only protecting children during their early years but also considering the increase in medical expenses after reaching adulthood. We will continue to introduce products in collaboration with Woori Financial Group that provide tangible benefits to our customers."

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