[Asia Economy Reporter Changhwan Lee] Samsung Fire & Marine Insurance Direct 'Chak' announced on the 21st that it is conducting a one-month event called 'Our Child Balance Game' for children's insurance in celebration of Family Month in May.
As private education expenses per household are increasing, customers who participate in the balance game asking where to reduce expenses between education costs and insurance premiums and complete the 'Direct Children's Insurance' premium calculation can receive a gift.
The company explained that since children's insurance coverage is complex and many consider it difficult to subscribe directly, they prepared the event to allow customers to experience Samsung Fire & Marine Insurance Direct Children's Insurance, which can be easily subscribed to.
Samsung Fire & Marine Insurance Direct Children's Insurance is a child insurance product that covers diseases, injuries, dental health, as well as risks that may occur in daily life from birth to adulthood. It is available for subscription from age 0 to 30 and provides coverage up to age 100.
This product offers customers the freedom to choose between an 'automatic renewal type,' which automatically renews every 20 or 30 years up to age 100, and a 'non-renewal type,' which has no premium increase until maturity at ages 80, 90, or 100.
The automatic renewal type can be subscribed to at an affordable premium of around 20,000 to 50,000 KRW on average, and the non-renewal type has a premium waiver function that exempts premium payments for the remaining period if certain conditions are met, reducing future financial burdens.
It provides various coverage options for lifestyle-related risks that are common from infancy to adolescence, and customers can also subscribe to coverage such as cancer diagnosis benefits and targeted anticancer drug approval treatment benefits for severe diseases like cancer.
Coverage for infectious diseases common in infants and young children, such as chickenpox and hand, foot, and mouth disease, is also a feature. Up to 200,000 KRW is covered upon the first diagnosis of chickenpox until age 20, and up to 100,000 KRW once a year for hand, foot, and mouth disease diagnosis.
Through product revisions in early May, coverage has been further strengthened by adding benefits for specific autoimmune disease diagnosis, female-specific cancer lymphedema diagnosis, which obtained exclusive rights last year, as well as coverage for respiratory and digestive diseases.
Samsung Fire & Marine Insurance Direct 'Chak' also added new menus for existing children's insurance customers in early May. The newly introduced menus, 'Children's Insurance Review' and 'Add Coverage,' are available to subscribers with minor children under 18 years old.
A representative of Samsung Fire & Marine Insurance Direct 'Chak' said, "We aimed to expand customer choices by introducing new product plans and menus not previously available in the children's insurance market, and to provide popular coverages at reasonable prices for a win-win effect. We will continue to strive to offer insurance that customers need at reasonable prices."
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