Seoul Jung-gu Residents Receive Life Safety Insurance Coverage (Up to 10 Million KRW) Benefits

Up to 10 Million KRW Coverage for Death or Aftereffects from Infectious Diseases, Natural Disasters, or Human Accidents

[Asia Economy Reporter Park Jong-il] From this year, all residents of Jung-gu, Seoul will receive benefits from the Life Safety Insurance.

Jung-gu (Mayor Seo Yang-ho) announced on the 19th that it has introduced the 'Jung-gu Life Safety Insurance' for all residents.

This is to safely protect residents from rapidly increasing disaster risks such as the outbreak of new infectious diseases.

The coverage period starts from January 1, 2021, and residents are automatically enrolled if their registered address is in Jung-gu without any complicated subscription procedures. The insurance premium is fully covered by the district office.

The coverage includes six categories: ▲ death from infectious diseases such as COVID-19 ▲ death from natural disasters such as typhoons, floods, and earthquakes ▲ death from drowning accidents ▲ death or aftereffects from explosions or fires ▲ death or aftereffects from accidents while using public transportation ▲ death or aftereffects from gas accidents.

The scope of accidents covers all areas nationwide, including Jung-gu. However, for those under 15 years old, only aftereffects excluding death are covered according to relevant laws.

The maximum coverage amount per category is 10 million KRW, and payments are made regardless of compensation from other insurances. Claims must be filed within three years from the date of the accident by submitting the application form and supporting documents to the Korea Local Finance Association.

For more details, inquiries can be made to the Korea Local Finance Association or the Life Safety Officer at Jung-gu Office.

Seo Yang-ho, Mayor of Jung-gu, said, "Now is the time when safety measures to support residents affected by disasters are absolutely necessary," adding, "We will protect the precious daily lives of residents through comprehensive measures including the Jung-gu Life Safety Insurance."