LG Uplus Mobile Phone Insurance, Enrollment Period Extended to 60 Days After Activation

Insurance Enrollment Period Extended from 30 to 60 Days After Activation
Enrollment via Customer Service Now Possible Even the Day After Activation

[Asia Economy Reporter Han Jinju] LG Uplus is extending the subscription period for mobile phone loss and damage insurance from 30 days to 60 days after activation.

On the 1st, LG Uplus announced that it will implement a regular revision to improve inconveniences related to mobile phone loss and damage insurance products and increase benefits.

Until now, mobile phone insurance subscription was only possible within 30 days after activation. If customers did not subscribe to insurance at the store, they could only subscribe by calling the customer center on the day of activation, so if the customer center's business hours ended at 6 p.m., customers had to visit the store the next day, causing inconvenience.

To resolve this inconvenience, LG Uplus extended the subscription period to 60 days. The period during which customers can subscribe to insurance through the customer center was also extended from the day of activation to the day after activation, adding one more day.

The insurance products were also revised to lower the monthly usage fee. Products are categorized according to the device's retail price, and monthly fees and deductibles are set lower compared to competitors.

The "Smartphone Comprehensive" plan for Android smartphone users consists of 8 types. The deductible rate is about 20%, which is less burdensome than competitors' rates of around 25-30%.

For example, if you purchase a Galaxy S20 Plus with a retail price of 1,353,000 KRW, the monthly fee is 5,400 KRW, and the deductible in case of loss is 270,600 KRW. Compared to competitors' products with monthly fees of 5,500 to 5,800 KRW and deductibles of 338,250 KRW, it is more than 67,000 KRW cheaper.

Jung Seokju, head of LG Uplus's Loss and Damage Customer Care Team, said, "We have introduced processes and products that can improve the customer experience when a mobile phone is lost or damaged," adding, "We will continue to prepare various products that reduce the burden on customers."