Korean Job Discussion Forums

[phaedrus]

Anyone have extra private insurance through a Korean company?

International medical insurance through North American insurers seems to run about 400 dollars per month.

I heard about some insurance you can get through Samsung, etc., that is cheaper, and you can get most of the money back after five years if you don't use the insurance.

The Korean National plan covers most of my and my family's needs, but in case of serious illness it would be nice to have extra coverage as back up. We do have a special baby insurance package already. I'm going to follow that lead.

I don't want to send all my savings into expensive insurance, so the Korean private insurance might be good.

I don't know much about insurance. I'm looking for coverage of accidents, terminal illness, major disease, etc. We're young, and have good health now, but you never know. My best friend passed away last year from leukemia, and he was the same age as me. Sad and scary. I want to think about my family and our savings and not be insurance poor. At the same time I want to think about our health.

[tzechuk]

We have insurance with AIG. About 200,000 a month.

My husband said not to buy from Korean insurance companies because they don't always pay.. apparently they will make some excuses up and delay your payment, or say it's your fault so you are not qualified for payment blah blah blah...

[phaedrus]

[nrvs]

I have major medical coverage from the International Medical Group. With a $1000 deductible, I paid $544 for one year. I don't even have the Korean national plan. With the low cost of healthcare in Korea I figure that I can pay out-of-pocket for what's likely to happen to me (i.e. upper respiratory infections). I'll rely on IMG for unexpected serious stuff that would otherwise leave me bankrupt.

The nice thing about the IMG plans is that they'll cover you in the U.S. provided you spend 6 months out of every year abroad. It's renewable too.

All in all this beats the overpriced, $2500 deductible major medical coverage I bought for myself in the United States. Not to mention uninsured $80 visits to the doctor.

[whereisjay]

[whereisjay]

[tzechuk]

4 different plans. Health insurance and life insurance.

Sorry, should've clarified. Also my husband's a bit older, so they charge more.

[ajuma]

Just wondering: Is there any kind of "apartment insurance" that you can get...say the apartment burns down or something...all of my "worldly goods" are here.

[kangnam mafioso]

[phaedrus]

[tzechuk]

[tzechuk]

The Korean insurance covers very little, to be honest. They give you a discount on getting simple, out-patient treatments and prescription drugs.. but if you have to have an operation, it is very expensive (not as expensive as the US, I am told). For example, if you need a triple-heart bypass, you are looking at a minimum of 50million won (so I've been told)... or brain surgery is more.

My husband told me when I first came here that if you are not rich in Korea when you are ill, you might as well just die because no one will give you treatment/surgery without money.

[Hollywoodaction]

...and that's why I have my own personnal injury insurance (for car accidents), life insurance (which supposedly provides travel insurance). So does my wife and our son. It's expensive, putting the money in a mutual fund would be a better investment, but at least we get the money back after a certain number of years.

[peppermint]

I buy travel isnusrance when I leave the country now, especially since friends have been making jokes about me leaving a wake of natural disasters behind me..