Insurance
Author : Administrator | Date : 2017.10.11 10:55 | Views : 38

  

 

 

A. Insurance for Foreign Students
The National Health Insurance Corporation provides health insurance for foreign students. The insurance is designed for overseas Koreans and foreigners who stay in Korea for more than a year. Foreign students, their spouses and their children under 20 are eligible for the insurance. To apply, the student must submit a copy of his/her alien registration card and verification of his/her purpose of stay at an office of the Corporation. Students may have insurance from their countries and medical expenses in Korea can be reimbursed in their countries. If you want to buy insurance from a private firm, you can buy medical and injury insurance for foreigners from traveler’s insurance. Korean insurance companies are now developing products for an increasing number of foreign students in Korea, so Korean companies will provide insurance for foreign students soon.

B. Medical and Injury Insurance for Foreigners
All Koreans have National Health Insurance, but it is not provided for foreigners. However, the National Health Insurance Corporation provides insurance for foreigners or overseas Koreans in the case of accidents or illnesses, and other private companies also provide insurance for foreigners.

a. The National Health Insurance Corporation

○ Eligibility
- Korean's spouse and children who stay in the Republic of Korea with an F-1 visa (Visiting and Joining Families)
- A foreigner who has intentions to stay in the Republic of Korea for more than one year with D-1(Culture/Art), D-2(Student), D-3(Industrial Trainees), D-4(General Trainees), D-5(Residence Report), D-6(Religious Worker), D-7(Intra-Company Transferees), D-8(Treaty Investor), D-9(Treaty Traders), E-1(Professors), E-2(Teachers of Foreign Languages), E-3(Research), E-4(Special Technology Instruction), E-5(Special Occupations), E-7(Other Particular Occupations) and E-8(Industrial Trainees Employment) visa and her/his spouse and children under 20(F-3).

○ Documents for Application
- Verification of Eligibility including Alien Registration Card
- Verification of Purpose of Stay (A copy of Alien Registration Card or a copy of Residence Certificate)
- Verification of Income (If the applicant has income)


○ Premiums
- The insured is subject to pay from the first day of Alien Registration
- The insured is subject to pay during temporary leave within 3 months.
- In the case of a temporary leave longer than three months, the insurance is cancelled on the next day of departure, and the student must renew it upon return.
- The payment amount is about 34,000 won monthly and must be prepaid in three month intervals.
* There is a 30% discount for students (D-2)

○How to use the service
- Same as Koreans

○ For more information :Call : 82-2-3270-9835~9

b. Traveler’s Insurance

○ Medical Case
In the case of illness, the insured pays for his/her treatment first and will receive reimbursement from the company. In the case of long-term treatment, the insured can notify the company and the company may visit the medical service provider and guarantee the payment. The insured can request payment from the insurance company directly or through the National Institute for International Education Development, which may take longer. The insured will be paid within a limit for the illnesses after arrival in Korea: but pregnancy, delivery, plastic surgery, or dentures are not covered. Required documents are an application form, a copy of your bank book (the back page of the cover and the first page), doctor’s diagnosis, receipts, prescription, and other documents required by the insurance company.

○ Injury :
In the case of injury caused by another party, the insured will get a certain amount of reparation. In the case of causing injury to another party, the insurance company will pay the injured the reparation.

○ Theft :
If a possession of the insured is stolen, the insured must notify the police and the insurance company, and may receive compensation (cash is not covered). 

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