Strengthened Coverage for Youth Illness and Disability: Dongyang Life Launches Future Support Insurance

Dongyang Life Insurance announced on the 23rd that it has launched the "(Non-Participation) WooriWON Youth Future Support Insurance," which pays insurance benefits on a monthly basis in the event of illness or disability among young people.

The "(Non-Participation) WooriWON Youth Future Support Insurance" was developed in line with the purpose of the "Youth Future Savings Account," a policy financial product introduced by the government through 14 domestic banks. While the Youth Future Savings Account supports asset formation for young people aged 19 to 34, this new insurance product strengthens coverage so that young people can also be protected in situations where they may face financial difficulties due to illness or disability.

This product features a three-year maturity with monthly premium payments. If the insured is diagnosed with a major illness such as cancer, cerebrovascular disease, or ischemic heart disease during the insurance period, insurance benefits are paid out monthly instead of as a lump sum. Unlike typical insurance products that pay benefits in a single payment, this policy is designed to provide a fixed monthly payment for the remaining premium payment period, helping with both medical expenses and living costs.

A Dongyang Life Insurance official stated, "This product was planned to more broadly support young people's preparations for the future, in line with the government's youth asset-building policy. We expect it will serve as a practical insurance product that provides both treatment and living stability by paying out benefits monthly in the event of illness."

This content was produced with the assistance of AI translation services.