“We find hidden insurance KRW 7.4 trillion” Integrated inquiry system to be introduced
Cho Eun Guk | ceg4204@ | 2017-12-19 14:33:39
Launched integrated inquiry system `Find my insurance`
The `hidden benefit` of KRW 7.4 trillion, which users do not know, is now available to visit the owner. Besides, a campaign to find hidden claims at the government level is also carried out, and the mailed items are sent to the policyholders or the claimant regarding the hidden claims and death claims.
The Financial Supervisory Commission and the Financial Supervisory Service (FSS) launched `Zoom`, a system for collecting insurance claims hidden with the Korea Life Insurance Association and the Korea Insurance Association.
On the other hand, there has been an inconvenience that a user has to access another system every time to inquire insurance history, heir’s financial transaction details, and hidden insurance money. However, the integrated inquiry system integrates the related functions of the existing system so that the users can easily check and find hidden insurance benefits.
Hidden claims amounted up to KRW 7.4 trillion (9 million people) as of the end of October. About 5 trillion won in severance benefits, about 1.3 trillion won in maturity benefits, and about KRW 1.1 trillion in dormant claims.
The middle insurance claims are insurance premiums that have not yet expired, although the reasons for the payment of insurance benefits, such as employment or school attendance, are still insured. The dormancy insurance is the insurance premium that the insurance company holds after the expiration date, or the insurance premium that appeared on the KFDA.
It is due to the nature of insurance is long due to its nature and the structure of the product such as the method of providing interest is complicated.
However, from this day on, all insurance contracts and hidden insurance benefits can be confirmed at once through the integrated inquiry system 24 hours a day, 365 days a year. In addition, when applying for financial transaction inquiry service to the local governments and the Financial Supervisory Service (FSS), it is possible to inquire insurance contracts and insurance claims of the deceased person (dead person), and to check survivor pension. Survivor pension is the pension paid if the insured survives until the pension commencement date.
The integrated inquiry system can be viewed on the homepage as well as on Naver and the following Internet portal sites, the Life Insurance and Non-life Insurance Association, and the FINE website. You can search by entering your name, resident registration number, mobile phone number, and authentication procedure on your mobile phone.
Users can see all the hidden claims of 41 insurance companies (25 life insurers, 16 non-life insurers) doing private business, but post office insurance or union deduction is not subject to inquiry. In addition, insurers that sell insurance only to reinsurers or companies are excluded because they do not have hidden claims.
Meanwhile, it is possible to inquire about insurance claims that are hidden only by the contractor and the beneficiary, not the simple insured. The amount queried is the principal and interest at the end of the delivery.
A financial expert said, "Interest on hidden claims will be provided as specified in the insurance contract terms, such as when the contract is due, when the insurance contract expires, or when the expiration date has elapsed."
On the other hand, the Financial Supervisory Service carries out a campaign to send informative mail related to hidden claims. For the hidden insurance claims and mortality benefits, it will send a mailing guide for contracts with insurance coverage of KRW 10,000 or more. In this process, the Ministry of Public Administration and Security provides the latest information and addresses such as the claimant who has hidden claims, and the Life Insurance and Non-Life Insurance Association has confirmed the contract that the insured person died and the insurance claim was incurred. The individual insurer receives the information from the Life Insurance and Non-Life Insurance Association and directs all beneficiaries of the insurance information by mail.
By Cho Eun Guk ceg4204@
[ copyright ⓒ The Digitaltimes ]
The `hidden benefit` of KRW 7.4 trillion, which users do not know, is now available to visit the owner. Besides, a campaign to find hidden claims at the government level is also carried out, and the mailed items are sent to the policyholders or the claimant regarding the hidden claims and death claims.
The Financial Supervisory Commission and the Financial Supervisory Service (FSS) launched `Zoom`, a system for collecting insurance claims hidden with the Korea Life Insurance Association and the Korea Insurance Association.
On the other hand, there has been an inconvenience that a user has to access another system every time to inquire insurance history, heir’s financial transaction details, and hidden insurance money. However, the integrated inquiry system integrates the related functions of the existing system so that the users can easily check and find hidden insurance benefits.
Hidden claims amounted up to KRW 7.4 trillion (9 million people) as of the end of October. About 5 trillion won in severance benefits, about 1.3 trillion won in maturity benefits, and about KRW 1.1 trillion in dormant claims.
The middle insurance claims are insurance premiums that have not yet expired, although the reasons for the payment of insurance benefits, such as employment or school attendance, are still insured. The dormancy insurance is the insurance premium that the insurance company holds after the expiration date, or the insurance premium that appeared on the KFDA.
It is due to the nature of insurance is long due to its nature and the structure of the product such as the method of providing interest is complicated.
However, from this day on, all insurance contracts and hidden insurance benefits can be confirmed at once through the integrated inquiry system 24 hours a day, 365 days a year. In addition, when applying for financial transaction inquiry service to the local governments and the Financial Supervisory Service (FSS), it is possible to inquire insurance contracts and insurance claims of the deceased person (dead person), and to check survivor pension. Survivor pension is the pension paid if the insured survives until the pension commencement date.
The integrated inquiry system can be viewed on the homepage as well as on Naver and the following Internet portal sites, the Life Insurance and Non-life Insurance Association, and the FINE website. You can search by entering your name, resident registration number, mobile phone number, and authentication procedure on your mobile phone.
Users can see all the hidden claims of 41 insurance companies (25 life insurers, 16 non-life insurers) doing private business, but post office insurance or union deduction is not subject to inquiry. In addition, insurers that sell insurance only to reinsurers or companies are excluded because they do not have hidden claims.
Meanwhile, it is possible to inquire about insurance claims that are hidden only by the contractor and the beneficiary, not the simple insured. The amount queried is the principal and interest at the end of the delivery.
A financial expert said, "Interest on hidden claims will be provided as specified in the insurance contract terms, such as when the contract is due, when the insurance contract expires, or when the expiration date has elapsed."
On the other hand, the Financial Supervisory Service carries out a campaign to send informative mail related to hidden claims. For the hidden insurance claims and mortality benefits, it will send a mailing guide for contracts with insurance coverage of KRW 10,000 or more. In this process, the Ministry of Public Administration and Security provides the latest information and addresses such as the claimant who has hidden claims, and the Life Insurance and Non-Life Insurance Association has confirmed the contract that the insured person died and the insurance claim was incurred. The individual insurer receives the information from the Life Insurance and Non-Life Insurance Association and directs all beneficiaries of the insurance information by mail.
By Cho Eun Guk ceg4204@