KB Insurance Launches 'KB Overseas Travel Insurance' with Enhanced Coverage

[Asia Economy Reporter Changhwan Lee] KB Insurance Direct announced on the 5th that it has newly launched the ‘KB Overseas Travel Insurance’ with enhanced coverage as overseas travel increases due to the easing of COVID-19 quarantine measures.

The KB Overseas Travel Insurance has strengthened coverage by expanding the insured amount for medical expenses incurred when receiving treatment at overseas medical institutions due to injury or illness abroad, and newly adding a daily hospitalization allowance for hospitalization at overseas medical institutions caused by injury accidents abroad.

The medical expenses incurred when using overseas medical institutions have been increased from the existing 30 million KRW to a maximum of 50 million KRW, and a newly added ‘Overseas Injury Hospitalization Daily Allowance’ provides 30,000 KRW per day for up to 180 days.

It covers various risks that may occur during overseas travel, such as death due to injury or illness abroad, liability, theft or damage of personal belongings, flight and baggage delay expenses, food poisoning, infectious diseases, passport loss and reissuance costs, and major accident rescue and repatriation expenses.

The ‘KB Overseas Travel Insurance’ can be purchased individually, and groups such as families, friends, clubs, and travel gatherings can also subscribe under a single contract for up to 19 people.

Park Youngsik, Head of KB Insurance Direct Division, said, “KB Insurance Direct will continue to develop customized coverage to prepare for accidents overseas, such as overseas travel insurance and student insurance.”