Kakao Pay Sonbo Expands Coverage Period for Travel Insurance

Kakao Pay Insurance announced on the 4th that it will extend the coverage period of its overseas travel insurance from the existing 1 month to up to 1 year.

The overseas travel insurance, launched in June last year, surpassed 1.8 million cumulative subscribers in just 1 year and 3 months since its launch. This means an average of 150,000 users per month.

From now on, it will cover various accidents and illnesses that may occur during long-term overseas stays such as "N-dal-salgi" (living abroad for N months), "world travel," "study abroad and language training," "working holiday," and "overseas internship, dispatch, and volunteering," as well as short-term overseas travel. Users can customize their coverage by adding or removing desired protections according to their travel period, from a minimum of 1 day to a maximum of 1 year.

Users can select personalized coverage (riders) that are essential to them from among ▲overseas hospital injury and illness medical expenses ▲mobile phone and personal item damage compensation ▲disability or evacuation due to major accidents ▲flight delays ▲liability for damages caused to others ▲food poisoning and infectious diseases ▲treatment upon return to Korea ▲and other remaining coverages.

For example, if a 30-year-old man is worried about food poisoning and infectious diseases during a 4-month trip to the United States, he can select only those riders and receive coverage of 300,000 KRW each for 290 KRW. This product can be purchased up until the day of travel, and the insurance can be extended if the travel period is prolonged.

The subscription method remains the same. You can subscribe by clicking on "Overseas Travel Insurance" under "Insurance Products" in the KakaoTalk or Kakao Pay application. Kakao Pay Insurance has applied Kakao Sync to simplify the information input process and minimize unnecessary personal information entry for insurance subscription.

Jang Young-geun, CEO of Kakao Pay Insurance, said, "We have extended the coverage period of overseas travel insurance as a token of gratitude for the support," adding, "We will always do our best to create a service without blind spots."