Heungkuk Life Launches Regular Insurance for Infectious Diseases Including COVID-19

Heungkuk Life Insurance announced on the 1st that it has launched a term insurance policy called 'Specific Infectious Disease Term Insurance,' which covers death from specific infectious diseases and general death.

[Asia Economy Reporter Oh Hyung-gil] Heungkuk Life Insurance announced on the 1st that it has launched a term insurance product called 'Specific Infectious Disease Term Insurance,' which guarantees death from specific infectious diseases and general death.

This term insurance pays a death benefit in the event of death caused by specific infectious diseases such as tuberculosis, other bacterial diseases, and other infectious diseases. Deaths caused by the global infectious disease COVID-19 are also covered.

In the event of death due to a specific infectious disease, a death benefit of 20 million KRW is paid (based on an insured amount of 10 million KRW). Additionally, if death occurs due to causes other than specific infectious diseases, 10 million KRW is paid.

This product is a renewable type, with options for 10-year or 20-year terms. It is available for subscription from age 15 up to a maximum of 70 years, and after renewal, the insurance period can extend up to age 85.