Hanwha Life Insurance recommended its Smart Family Love Disaster Insurance to customers who are highly exposed to outdoor leisure activities or disaster risks.

The disaster insurance, which was launched in July, offers a high level of death benefits and guaranteed income to families of those who have died in a sudden disaster, according to officials.


Should the subscriber die a disaster-caused death, the designated family members are to be paid a lump sum death benefit of 30 million won ($25,000).

They are also to receive monthly living expenses ― 3 million won for traffic accidents and 2 million won for other disasters ― for five years from the point of death.

Thus, the maximum guaranteed amount for traffic accident-caused deaths is 210 million won.

In case the policyholder survives until the end of the policy term, he or she will get back 100 percent of the paid amount, or 50 percent for those who decide to receive 50 percent in advance at age 60.

Users may also add special contracts such as medical care for outdoor injuries or emergency room benefits, officials added.

Hanwha Life’s Smart Family Love Disaster Insurance is also recognized for its relatively low insurance fee, which starts at 20,000 won per month.

The joining age is 15-60 and the maximum age for coverage is 80 years old. 

By Bae Hyun-jung (tellme@heraldcorp.com)