A TongYang Life Insurance official promotes the company’s new dental insurance plan, which was launched early this year. Photo courtesy of TongYang Life

Seoul-based outfit introduces affordable dental insurance

TongYang Life Insurance announced on June 22 that its new dental insurance plan had won the hearts and minds of people since its launch in March.

The Seoul-based insurer said that many local customers had enrolled in the dental plan thanks to its wide coverage and inexpensive insurance bill.

The product is composed of two options. One is an affordable standard type, and the other is a premium type, which offers more insurance benefits.

Subscribers to the standard type would receive 500,000 won for such measure procedures like bridges and implants three times a year. The plan also covers other dental treatments.

Those who opt for the premium type would receive 1 million won for bridges and implants without any annual limits. Their benefits for other dental treatments would rise.

By renewing the plans, people can enjoy insurance coverage through the age of 80.

“This product was designed to help people, who hesitate to receive dental treatments due to the financial burdens,” a TongYang Life official said.

“In particular, the premium type enables subscribers to carry out treatments without annual limits in two years after their enrollment.”

TongYang started the business in 1989 with an initial capital of 6 billion won. Over the past three decades, the corporation has grown into one of the major life insurers in South Korea, with an asset size of more than 30 trillion won.

CEO Jou Gwo Duan is presently heading the financial outfit.