South Korea’s Tongyang Life Insurance Co. announced on Monday that it has launched a new traffic accident insurance designed to offer affordable, lifestyle-focused coverage for traffic-related and other accidents.
The policy provides 100,000 won ($72.6) per emergency room visit if the insured is diagnosed as an emergency patient following a traffic accident. It also offers 100,000 won per incident for traumatic fractures, including broken teeth.
For more severe incidents, the insurance pays 1 million won per accident if the policyholder sustains a serious traffic injury requiring at least three weeks of treatment.
Open to individuals aged 20 to 70, the policy is available for a one-year term with a single premium payment. Monthly premiums start from 1,000 won, with a maximum of 4,000 won, depending on the policyholder‘s age.
By Pulse
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