Kyobo Life Insurance was established in 1958 to promote national education and form domestic capital in Korea. Kyobo is well placed among Asian life insurers with total assets of around W30 trillion, some 11 million policies in force and over 4,200 employees.
Over the past 45 years, Kyobo has contributed significantly to the development of the Korean as well as Asian insurance industries. The company created the world's first "educational insurance" plans, developed Korea's first cancer insurance policies, became the first domestic insurer to pay out policyholder dividends, won various awards in the world insurance industry, and was listed on the Fortune 500.
The coverage for group term life and PA is very different by the client's need. However, usually, they want to take the policy with 3 times of Annual Salary.
Inpaitient/Hospitalization & Surgical
In case of Room & Board cost is on the basis of semi-private (2 persons) and
a hospital institution dose not have any semi-private room and the insured should choose private room or separate room, the life vendors covers up to 70,000 won per day of the difference between NHI standard room cost and the room the insured choose.
In these days, all of the life vendors provide the out-patient cost with 5,000 won deduction up to 100,000 won per the visit. As for the out-patient riders, almost all of the life and Non-Life are not willing to sell any more due to the great deficit.