On September 5, Lotte Insurance announced that it is realizing the value of sharing through "social contribution via business," including premium discounts for national merit recipients and addressing the lack of private insurance coverage for special occupational groups.
Since 2021, Lotte Insurance has been the first in the industry to implement a "premium discount program for national merit recipients." As of the end of last month, 3,051 national merit recipients, as well as their surviving family members, have benefited from premium discounts. This program is available to those who are registered as national merit recipients, their surviving family members, or relatives with the Ministry of Patriots and Veterans Affairs under the "Act on the Honorable Treatment and Support of Persons of Distinguished Service to the State."
When enrolling in a new insurance service (product), those who are verified as eligible for the national merit recipient premium discount through supporting documents receive a 3% discount on their standard insurance premium. For those eligible for this program, the enrollment process is also expedited through a priority underwriting review.
In November 2020, Lotte Insurance became the first in the industry to launch "let:hero Firefighter Insurance," an insurance service (product) for firefighters. In October 2022, it also launched "let:hero Medical Staff Insurance" for healthcare professionals.
The let:hero Firefighter Insurance addresses the "blind spot in private insurance" caused by the unique occupational risks of firefighters. It allows enrollment with the same coverage amount as general insurance services (products). Its strength lies in the wide range of coverage, including death or disability during firefighting duties, as well as critical burn diagnosis, corrosion diagnosis, and fracture diagnosis benefits.
The let:hero Medical Staff Insurance is available to seven healthcare-related professions (nurse assistants, nurses, doctors, pharmacists, lifeguards, emergency medical technicians, and health information managers). This insurance service (product) adds specialized coverage for medical professionals to the existing health insurance benefits, enabling healthcare workers on the frontlines to be better prepared for occupational risks.
A Lotte Insurance representative stated, "The premium discount program for national merit recipients is a tribute to the sacrifice and dedication of the heroes who protected the Republic of Korea," adding, "We will continue to realize sustainable ESG (Environmental, Social, and Governance) management based on social contribution through our business."
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