Kyobo Life Insurance Supports 6-Month Premium Payment Deferral for Customers Affected by Heavy Rainfall

[Asia Economy Reporter Changhwan Lee] Kyobo Life Insurance announced on the 12th that it will provide customer support such as premium payment deferral and loan principal and interest repayment deferral for customers affected by the recent heavy rains.

Kyobo Life Insurance decided to defer premium payments for six months for customers affected by the recent heavy rains. During this period, affected customers can receive insurance benefits regardless of premium payment.

The deferral period is six months from the month of application, and the deferred premiums can be paid in a lump sum or in installments within six months after the deferral period ends.

In addition, for customers who have taken out insurance policy loans, the repayment deadline for principal and interest will be extended by six months, and monthly compound interest will also be reduced. For general loans, principal and interest payments will be deferred for six months.

Customers who wish to receive support such as premium payment deferral must visit the Kyobo Life Customer Plaza by the end of this month, fill out an application form, and submit a certificate proving damage from the heavy rains.

Meanwhile, Kyobo Life Insurance will simplify the insurance claim process and promptly pay insurance benefits to customers affected by the heavy rains.

When submitting insurance claim documents and documents verifying the damage, on-site investigations will be omitted as much as possible, and if no investigation is required, insurance benefits will be paid on the same day.