"Claim Your 11.2 Trillion Won in Unclaimed Insurance Payouts"

The Financial Supervisory Service announced on June 30 that it plans to notify consumers this year in order to help them locate approximately 11.2 trillion won worth of unclaimed insurance payouts.

Unclaimed insurance payouts refer to insurance benefits for which payment has been determined but have not yet been claimed. The main reasons for this include cases where consumers are unaware of the occurrence of insurance payouts, such as at the maturity of insurance contracts, mid-term insurance payouts, or dormant insurance payouts.

Anyone can easily check and claim their unclaimed insurance payouts through the "Naeboheomchajazoom" website, where users can view details of their insurance contracts, search for and claim unclaimed insurance payouts, and check the insurance contract details of a deceased policyholder.

Last year, the Financial Supervisory Service refunded approximately 4.0954 trillion won (1.37 million cases) in unclaimed insurance payouts to consumers. This year, it plans to help consumers locate about 11.2 trillion won in unclaimed insurance payouts, including 8.4083 trillion won in mid-term insurance payouts, 2.1691 trillion won in matured insurance payouts, and 619.6 billion won in dormant insurance payouts.

A representative from the Financial Supervisory Service stated, "We plan to expand the unclaimed insurance payout inquiry and notification system, which was previously operated by only a few insurance companies, to the entire insurance industry within this year." The representative also added, "The insurance industry, together with the Korea Inclusive Finance Agency, will utilize various promotional media to provide guidance on how to search for and claim unclaimed insurance payouts, and will carry out publicity activities closely related to daily life."

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