Insurance Benefits with Budget Phones... Lotte Insurance Launches Combined Product with LG HelloVision

Lotte Insurance announced on December 18 that it will launch four types of "Safety Insurance Plans," combining everyday insurance coverage with budget mobile phone services in partnership with LG HelloVision Hello Mobile.

The newly released Safety Insurance Plans are innovative services that allow customers to use both Hello Mobile's budget phone service and Lotte Insurance's "MY FAM Unfilial Child Insurance." The main feature is that customers can enjoy both affordable telecommunications services and comprehensive everyday coverage through a single subscription process.

Customers who subscribe to the Safety Insurance Plans are automatically enrolled for one year in the MY FAM Unfilial Child Insurance, which is available through Lotte Insurance's everyday insurance platform, Alice. This insurance provides customized coverage for middle-aged and older customers, including protection against financial fraud (up to 1 million KRW), compensation for violent crime damages (1 million KRW), and fracture diagnosis and surgery benefits (up to 500,000 KRW).

The plans are available in four different options, designed to accommodate both unlocked phone users and new subscribers. Users with unlocked phones can choose from two "Safety Insurance USIM Plans" (5GB and 7GB), which include the Unfilial Child Insurance, available for a monthly fee in the 10,000 KRW range.

For those purchasing a new mobile phone, there are two additional "Safety Insurance Plans" (5GB and Slim 1GB 100 minutes), available at reasonable monthly prices in the 20,000 to 30,000 KRW range.

Customers who subscribe through Hello Mobile's official online store or retail outlets can easily complete the registration process via an automatically sent text message. Insurance claims and contract details can be conveniently managed through the Alice application.

The launch of the Safety Insurance Plans is considered a successful example of convergence between the insurance and telecommunications industries. It is expected to help address insurance blind spots for middle-aged and older customers and reduce household communication costs.

Lotte Insurance stated that it plans to continue expanding digital-based B2B (business-to-business) partnerships across various industries to discover new insurance service channels and continuously enhance customer convenience.

A representative from Lotte Insurance said, "We expect that the Safety Insurance Plans, which combine budget phone services with everyday insurance coverage, will help reduce coverage gaps in customers' daily lives. We will continue to offer differentiated insurance services through partnerships with a variety of companies."