What is Travel Insurance?

It is an insurance that compensates for various damages during travel. The advantage is that the insurance premium is cheap because you only purchase insurance during the travel period.

What is Overseas Traveler Insurance?

It is a necessity for overseas travel as insurance that can compensate for accidents, illnesses, liability damages, damages to mobile products, and hijacking of planes that occur accidentally until you arrive at your home after leaving the home for overseas travel.

It is essential insurance during a vacation to prepare for various risks that may occur during travel, such as physical injury and illness treatment, damage to portable products, and liability. There are two types of domestic travel insurance and overseas travel insurance. Enrollment is open to all travelers, regardless of gender, age, etc.

Domestic travel insurance issues insurance policies immediately if you visit an insurance company branch, sales office, or agency two or three days before you travel.

In the case of overseas travel insurance, it is better to sign up one week before leaving for travel. In the case of group travel, it is common for travel agencies to sign up collectively.

Overseas Traveler’s Insurance is insurance that can compensate for accidents, illnesses, liability damages, damages to mobile products, hijacking of airplanes, etc. that occurred accidentally until you arrive at your home after you leave home for overseas travel.

Travelers under the age of 1 to 70 can join (Travelers under 15 years old, Travelers under the age of 15, Overseas Travel Insurance for the elderly), and short-term trips of 3 months or less. (If you are traveling for more than 3 months, you have to purchase overseas long-term business insurance)

You can sign up for a very low cost regardless of your job or purpose of departure. It compensates for theft of portable items while traveling abroad, and has the advantage of low indemnity.

Travel insurance essential for domestic and foreign travel! Don’t forget to buy travel insurance before you go on a trip.

You can enjoy a pleasant and safe trip through the inexpensive travel insurance applied to the travel period.
If you book a travel product through a travel agency, the travel agency may purchase travel insurance collectively, but it is not compulsory. If you want a safe and enjoyable trip, you can apply after considering the compensation contents and limits for you.

Compensation Range of Travel Insurance

Domestic travel insurance is paid in the event that a subscriber dies due to an accident during domestic travel, or after the accident suffers from a disability, and is compensated for injuries, medical expenses, and deaths within 30 days due to illness caused during travel.

In the case of overseas travel insurance, the scope of compensation is the same as that of domestic travel insurance. In addition, special expenses such as accommodation, transportation, and transportation expenses are insured if the subscriber is missing or searched. In addition, even if the aircraft is abducted, compensation will be compensated for the insurance amount limit. However, it does not compensate for damages caused by intentions, suicides, crimes, or acts of insured or insured persons, and damages caused by wars, revolutions, civil wars, and disturbances.

How to claim Travel Insurance

What should I do if I have an accident while traveling? In the event of an injury, illness, or theft, provide proof documents, such as a receipt for medical expenses from the hospital and a report of the theft of portable items received at the local police station, and then claim the insurance to pay the insurance.

As the non-life insurance company has a business agreement with a foreign-existing property compensation company, in the event of an accident abroad, you can claim compensation from the business partner in the local currency.

How far is the damage to your belongings?

Compensation for portable products compensates for the limit of 200,000 won per 1 item (1, 1 pair, 1 pair) of portable products in the limit of insurance coverage.

However, damages such as manuscripts for cash tickets and denture contact lenses are not compensated for as portable items. Also, be careful not to compensate for loss caused by negligence or neglect.

Short-term theft, long-term injury!

In short-term travel, the greatest loss is due to theft of portable items.

Theft or damage can be compensated. However, loss due to negligence is not compensated. In long-term trips, insurance accident payments and accident treatments are the most common. Therefore, when traveling for a long time, insurance that covers injury or illness is good.

Sign up for free insurance carefully!

Companies often offer travel insurance for free at various events. However, free products usually have less compensation for injury or illness, excluding 100 million won of death insurance.

In order to reduce the economic burden, the compensation limit for medical expenses for injuries and diseases should be at least 3 million won (10 million won or more in the Americas).

Must have an overseas network…

You should also figure out if you are an insurance company with a network that can quickly run to the scene of the accident overseas.

Also, if you have an accident while traveling abroad, language communication is the most important thing. It is a good idea to check whether it is an insurance company that can provide 24-hour Korean consultation and promptly deal with emergencies.

There are many accidents that are not rewarded…

Injuries resulting from intentional accidents, suicide, criminal acts, and violent acts are also excluded from compensation. Injuries resulting from intentional accidents, suicide, criminal acts, and violent acts are also excluded from compensation.

Even if a pregnant woman gives birth or miscarriage during travel, travel insurance cannot be compensated. The damages caused by war, civil war, disturbances, etc. in the country of destination will not be compensated unless the special provisions for the war risk are made. Dental expenses and costs associated with treatment of diseases that existed prior to insurance cannot be compensated.

It can be of any gender or age. It is better to sign up for domestic travel insurance two to three days before leaving for travel, and one week before overseas travel insurance.
In the case of group tours, travel agencies sign up collectively, but you must check whether you are enrolled in person.

Insurance premiums are generally around 5000 won for domestic travel (based on 3 days), and around 15,000 won for overseas travel (based on 1 week).

Key things to know when making travel insurance contracts

It can be of any gender or age.
It is better to sign up for domestic travel insurance two to three days before leaving for travel, and one week before overseas travel insurance. In the case of group tours, travel agencies sign up collectively, but you must check whether you are enrolled in person.
Insurance premiums are generally around 5000 won (3 days) for domestic travel, and around 15,000 won (about 1 week) for overseas travel.

When signing up

Please read the terms and conditions of insurance and check if you are compensated or not, and be sure to sign the subscription form in your hand when signing the contract.

Medical expenses covered by this insurance contract will be compensated proportionally according to the terms and conditions in case of multiple insurance contracts covering the cost.

Duty to notify after the contract

When signing an insurance contract, the contractor, the insured, or their representatives may be in good health, past illnesses, dangerous activities during travel (e.g. professional climbing, dangerous leisure activities, sports activities and other dangerous activities), and other collateral for injuries. You must notify the company of the facts of the insurance contract.

Travel Insurance

If you don’t tell the truth, you will be excluded from compensation according to the terms and conditions.

Cancellation refund

The contractor can terminate the contract at any time before an accident occurs, and must apply for termination in writing.

The company may terminate the contract if it does not disclose the important facts when signing the insurance contract due to the contractor’s intention or serious negligence. Upon termination of the insurance contract, the insurance premium will be returned as follows.

1. In the case of termination at the request of the contractor, the insured or the beneficiary of
insurance-The balance minus the premium calculated at the short-term rate for the elapsed period
2. In the event that the contractor, the insured, or the beneficiary of the insurance is not responsible for the cause
-We will return the insurance premium calculated on a daily basis for a period that has not elapsed.

Major non-compensating damages

Intentional/insured victims, suicide, crime assault, violent behavior/mental illness, mental/pregnant pregnancy, childbirth, miscarriage/war, armed events in foreign countries, civil war, disturbances

Dental prosthesis costs for diseases, dental care costs, pre-existing costs, physical examination costs

Major compensation damages

Injury death, accidental death accident, accidental death, loss of part of the body or paralysis of the function is paid for the accidental injury insurance payment (however, within one year of the accident or death within 180 days of the body part Loss of or permanent loss of function)

Injury treatment expenses Medical expenses incurred during an accident during travel are compensated for the actual expenses insured by the insured within the insurance coverage limit, and are limited to treatment within 180 days of the accident.

We will compensate you if you died of the first illness during the disease death trip or if you died within 30 days after the end of the insurance period due to illness.

Treatment for illness The first illness during travel is covered by treatment within 180 days from the date you start receiving medical treatment (including medical treatment) within 30 days from the expiration date of the insurance period. However, for contracts with special terms and conditions for long-term overseas residents who are not covered by the disease treatment, we will deduct 100,000 won or 300,000 won of immunity per disease and pay them as insurance. In the treatment of the above injuries and diseases, medical expenses due to chiropractic (chiropractic, etc.) and acupuncture (including cupping, moxibustion) treatment will be compensated for a single accident with a limit of US $700.00.

Compensation for damages caused by theft, damage, etc. incurred for the purpose of insurance due to accidents that occurred during the travel of portable products. However, the amount of insurance to be paid is limited to 200,000 won per 1, 1 trillion or 1 pair of insurance object, and compensation for damages caused by the negligence of the person will not be compensated.

Medical expenses for injuries or illness treatment expenses incurred while joining domestic travel insurance are paid up to 50% of the total medical expenses incurred. However, the treatment fee is limited to 180 days from the date of the accident.

The above collateral is limited to the items covered by the insurance policy. Please refer to the terms and conditions for details.

Vacation Travel Insurance

Travel insurance can be purchased by any traveler without gender or age restrictions, and the insurance premium is very low because it only covers insurance during the travel period.
If the travel period is 7 days, you can receive compensation such as domestic travel insurance of 7,000 won, overseas travel insurance of 20,000 won, 100 million won at the time of death, 5 million won for accidental treatment, 2 million won for medical treatment, and 20 million won for compensation for damages.
It is easy to sign up, so you can sign up instantly with a single click through the homepage of the non-life insurance company, and if you use a flight, you can sign up just before leaving the insurance company booth installed at the airport, and you can sign up right away with a single phone call. .
The rewards are fine. Travel insurance includes not only airline accidents, but also accidents such as traffic accidents or bodily injury at the destination, resulting in death or injury, illness, injury to others, and liability for damages. This is because it is possible to prepare for various risks that may occur during the travel period, such as theft or loss of portable products.
In addition to these advantages, if a traveler traveling abroad is in an accident or is sick and needs treatment, you can receive a Korean language guide service that can arrange hospitalization procedures at a local hospital or guide a medical institution and make an appointment.
In particular, in addition to weekend trips, dangerous leisure activities such as bungee jumping, hang gliding, professional climbing, etc. are increasing, and in the reality that the risk of accidents in travel destinations is higher than ever due to terrorism risk, travel insurance prepares for various accidents that may be experienced in travel destinations. It becomes an essential product.
Apart from this, the spread of a five-day work week and a biweekly holiday system has also earned great popularity for leisure insurance that compensates for accidents during certain leisure activities such as golf, tennis, and fishing.
In particular, in the case of accidents that occur on New Weekends, legal holidays, and Workers’ Days from Friday to Sunday, there are also products that double the coverage compared to weekdays.
There are some things you should know before signing up for travel insurance. In short-term trips, the greatest loss is caused by theft of portable items; theft or damage can be compensated. However, loss due to negligence is not compensated. In long-term travel, insurance payments are the most common accidental accidents and illnesses. Therefore, when traveling for a long time, insurance that covers injury or illness is good.
Free insurance should be carefully considered. Many companies offer free travel insurance at various events. However, free products usually have less compensation for injuries or illnesses, excluding 100 million won of death insurance. In order to reduce the economic burden, the compensation limit for medical expenses for injuries and diseases should be at least 3 million won (10 million won or more in the Americas).
You should also figure out if you are an insurance company with a network that can quickly run to the scene of the accident overseas. Also, if you have an accident while traveling abroad, language communication is the most important thing. It is a good idea to check whether it is an insurance company that can provide 24-hour Korean consultation and promptly deal with emergencies.
When insured, it is easy to be compensated in the event of an accident by notifying the insurance company about the past illness, purpose of travel, destination, and other insurance subscriptions. You need to know the procedure in detail. Documents that are generally required in case of an injury or illness accident are insurance claims, doctor’s medical certificate, receipt of medical expenses, copy of the insured passbook, and insurance policy. In the case of stolen items, you must obtain and submit a theft confirmation from the nearest local police station to receive compensation. There are many cases where there is no police confirmation that can prove the theft of portable items, so there are many cases where compensation is not required.
Many accidents do not receive compensation. Injuries resulting from intentional accidents, suicide, criminal acts, and violent acts are not covered. Even if a pregnant woman gives birth or miscarriage during travel, travel insurance cannot be compensated. The damages caused by war, civil war, disturbances, etc. in the country of destination will not be compensated unless the special provisions for the war risk are made.