KB Life Launches Public Transportation Partnership Insurance for KB Kookmin Bank "KB Let’s Run Savings" Customers

All Insurance Premiums Covered by KB Kookmin Bank
Public Transportation Accident Coverage Provided with Savings Account Enrollment Only

On May 8, KB Life announced that it will offer “KB Public Transportation Safety Insurance,” an online partnership insurance product covering public transportation accidents, to customers who sign up for the “KB Let’s Run Savings” account in collaboration with KB Kookmin Bank.

The exterior view of KB Life Tower in Yeoksam-dong, Gangnam-gu, Seoul. KB Life

The company explained that this partnership is significant in that it provides customers with a new lifestyle-oriented service that combines bank savings and insurance. Once customers complete the process of enrolling in both the savings product and the partnership insurance, they can receive coverage for public transportation accidents without any additional insurance premium burden.

This online partnership insurance product is available through KB Star Banking and is offered for one year to customers who sign up for the “KB Let’s Run Savings” account. All insurance premiums are fully covered by KB Kookmin Bank. Customers can easily receive coverage benefits through a simple insurance enrollment process.

Those aged 19 to 64 are eligible to enroll. The policy covers death and disability resulting from accidents that occur while using public transportation, such as airplanes, subways, trains, buses, and taxis. If the policyholder dies in a public transportation accident, KB Life will pay up to 50 million won as a public transportation accidental death benefit. In the event of a disability, up to 15 million won will be paid as a public transportation disability benefit, depending on the degree of disability.

The “KB Let’s Run Savings” account, launched by KB Kookmin Bank on April 28, is an online savings product linked to the KB Star Banking running service “Let’s Run,” offering an annual interest rate of up to 7.2% including preferential rates. Customers can deposit from 10,000 won to 300,000 won per month in this six-month, flexible installment savings product.

Recently, more financial consumers are favoring financial services that go beyond simple interest-bearing products and are linked to lifestyle benefits. Reflecting this demand, KB Life and KB Kookmin Bank have designed a product that combines savings with lifestyle safety coverage, developing it so that customers naturally experience the benefits of insurance during the enrollment process.

The company particularly emphasized that this case is an exemplary collaboration at the KB Financial Group level, in which the strengths of both the banking and insurance affiliates have been leveraged to expand customer touchpoints. KB Kookmin Bank has increased customer accessibility based on its broad customer base and digital platform competitiveness, while KB Life has strengthened its function of providing everyday risk protection for customers.

A KB Life representative stated, “This partnership is an example of providing tangible benefits to customers by combining banking and insurance products under the KB Financial Group banner,” adding, “Going forward, KB Life will continue to expand differentiated products and services that protect the valuable lives of our customers.”

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