The Korea Post announced that from the 25th, it will begin selling two new postal insurance products aimed at providing stable retirement planning and alleviating medical expenses. According to the Korea Post on the 24th, the “(Non) Post Office Bonus Bang Bang Pension Insurance” (referred to as Bang Bang Pension Insurance) significantly strengthens pension coverage by offering two additional bonuses on top of the basic savings common to postal insurance.
The “Operational Bonus” is allocated every three years based on the yield from managing postal insurance savings, sharing some of the investment performance with the customer. The “Retention Bonus” adds an additional 11% if maintained until the start of the pension and is offered when joining in the “Strengthened Pension Type.”
Bang Bang Pension Insurance is expected to greatly aid in preparing for a stable retirement in the aging society. The Korea Post explained that, as a state-run insurance, it introduced these benefits to provide greater pension coverage to customers.
Additionally, to reduce the financial burden of prolonged treatment for major diseases, they are launching the “(Non) Post Office Cancer, Brain, and Heart Major Treatment Insurance” (referred to as Major Treatment Insurance). This insurance offers broad coverage across the diagnostic, surgical, and hospitalization processes, covering “major treatments” regardless of whether they are covered by public insurance or not. Even after the initial diagnosis, insurance payouts can be received repeatedly within an annual limit if treatment is received multiple times over ten years.
For detailed information about these insurance products, customers can check product terms on the postal insurance website or inquire and consult at a nearby post office.
Gwak Byung-jin, Acting Director of the Post Office Division, stated, “These new products incorporate the best insurance benefits the Post Office can offer to provide tangible insurance services to customers,” and added, “We will continue to focus on customer orientation and strive to develop the best insurance products for them.”
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