South Korea
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South Korea & Life Insurance
Travelling to South Korea can be an amazing cultural experience, with history, architecture and modern conveniences far to different to what we have in the UK.
Most UK insurers will probably offer life insurance to people taking a trip to South Korea at regular terms.
To check your life insurance options we will ask:
- Where you will be staying in South Korea?
- What is your reason of visiting, holiday or work?
- When will you go to South Korea?
When planning to stay in South Korea for 30 days or more, you may be asked extra details about your trip to South Korea. Insurers want to check if you will remain a UK resident so that they can make sure you are able to take out cover with them.
It is possible that you find your life insurance at non-standard terms if you have multiple trips to South Korea planned, that last quite a bit of time across the year.
Our award winning advisers are here to give you peace of mind with the right life insurance policy, so that if the worst happens, your loved ones will be taken care of.
British citizens who have moved abroad can often still access life insurance and critical illness cover in the UK. There are specific rules that you must follow to be eligible for new life insurance and critical illness policies, and we are here to strip out the jargon and get you the cover that you need.
Critical illness cover pays out a cash lump sum of money, if you are diagnosed with a medical condition that is listed in the insurer’s claims set e.g. cancer, heart attack, stroke.
You will often get critical illness cover at normal rates for trips to South Korea. General holidays or short business stays do not tend to cause any concern to the insurers.
Anything lasting over 30 days to South Korea, or work trips over a week, may make your insurer want more details. You can find that if you are travelling extensively that the insurer postpones your critical illness application, until your trips are done. This might be the case with UK insurers, so we can potentially look at international providers for you.
Our expert advisers are trained to find the critical illness policy that matches you and your needs, so that if you are diagnosed with a critical illness, you can focus upon you rather than worrying about money.
Income protection pays you a replacement of your monthly income, if you are unable to work due to ill health.
It is very likely that income protection will be available at standard terms for short trips to South Korea. You will be asked by your insurer about your job, specific work tasks, and especially if your trip to South Korea is about your occupation.
When you apply for income protection, try to get the policy set up with a ‘own occupation’ definition. This will make sure that that you get the strongest claims coverage if you can’t work, because it assesses your ability to do your current specific job duties.
Protecting your income is one of the most important things that you can do to protect your financial future and our award winning advisers are here to sort it for you.
Are you planning on a trip to South Korea ? We’ve teamed up with a specialist travel insurance broker who can provide comprehensive cover for most countries. Request your no obligation travel insurance quote here.
South Korea
- Primary Concerns: Duration of stay, location
- Reason for Travel: Business, leisure
- Duration of Stay: Holiday break, sabbatical, employment contract
- Popular Locations: Seoul, Bukchon Hanok Village, Gyeongju, and Seoraksan National Park
Fun Facts
- The number 4 is considered unlucky in South Korea.
- There’s an unofficial holiday called Pepero Day which is South Korea’s snack holiday, where you can expect gifts of chocolate covered biscuit sticks.
- We have South Korea to thank for K-pop. You can’t beat a bit of Just Dance to Blackpink!
- For more information on specific health conditions, pastimes, occupations and countries please select here:
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Theodore Knowles
Author
This page was written by Theodore Knowles under the guidance of Dr Kathryn Knowles Phd, an award-winning insurance adviser. To read more about Kathryn please see her bio here
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