Heungkuk Life Insurance Provides Financial Support for Customers Affected by Heavy Rainfall

[Asia Economy Reporter Changhwan Lee] Heungkuk Life Insurance announced on the 11th that it will provide financial support for customers affected by the recent heavy rain.

Heungkuk Life Insurance will allow affected customers to defer insurance premium payments for up to 6 months. Deferred premiums can be paid in a lump sum or in installments after the deferral period ends.

Interest payments on insurance policy loans can also be deferred for up to 6 months, and the deferred interest on insurance policy loans can be paid in installments over 6 months after the deferral period without adding to the principal.

Support for deferral of loan principal and interest repayments will also be provided. Deferred loan principal and interest can be paid in installments over 6 months after the deferral period without overdue interest, and the loan maturity date can be extended up to 6 months without additional principal repayment upon maturity.

Additionally, support includes ▲ expedited insurance claim payments through simplified claim document procedures ▲ operation of specialized counselors for customers affected by the heavy rain at the call center.

This financial support can be applied for over a 2-month period until the end of September this year.

A Heungkuk Life Insurance official said, "We have prepared this financial support benefit to help customers who have suffered unexpected damage recover," adding, "Although it is a small support, we hope it will provide some comfort to customers affected by the damage."