Meritz Fire & Marine Insurance announced on the 12th that it has launched the online-only "National Sports Association Insurance" available for both individuals and groups in partnership with Kakao Pay.
[Asia Economy Reporter Oh Hyung-gil] Meritz Fire & Marine Insurance announced on the 12th that it has launched an online-only "National Sports Insurance" available for both individuals and groups in partnership with KakaoPay.
Anyone aged 15 to 80 can subscribe, and groups of 2 to a maximum of 30 people can also enroll. For group subscriptions such as clubs, one representative KakaoPay user can enroll on behalf of the group.
This insurance covers accidental death and permanent disability during sports activities, sudden death, daily hospitalization allowance for injury, surgery costs due to injury, and liability coverage.
Based on the risk level of sports categories, it is divided into a comprehensive sports group consisting of 67 sports (risk level 2+3 according to the policy) and a general sports group consisting of 36 sports (risk level 3 according to the policy), covering all sports included in each group.
The premium for the comprehensive sports group is 24,200 KRW per year (9,680 KRW for 3 months), and for the general sports group, it is 12,440 KRW per year (4,970 KRW for 3 months). There is no premium difference based on age or gender. The subscription period can be chosen between 3 months and 1 year.
Detailed product information can be found on the KakaoPay website and the website of Inviyu, a KakaoPay subsidiary.
A Meritz Fire & Marine Insurance official stated, "With the easing of social distancing after COVID-19, outdoor activities and recreational sports are expected to increase significantly. Therefore, we launched a product that allows easy online subscription and coverage through KakaoPay."
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