How to Claim an Indemnity Health Insurance Premium Refund When You Go Abroad
3 min read · · Korean original
Contents 5
Did you know that if you leave Korea for 3 months or more, you can get a refund on your indemnity health insurance premiums? In this post, we'll look at the eligibility conditions and the procedure for claiming an indemnity insurance premium refund.
Premium Refunds for People Staying Abroad
- Mr. Kim, who lived overseas, recently returned to Korea because of COVID-19.
- While abroad, Mr. Kim had kept paying for his indemnity health insurance, and he learned through a Kakao group chat that he could get those premiums refunded.
- Having stayed abroad for a long time, Mr. Kim was able to receive a refund of about KRW 700,000.
Requirements and Procedure for an Indemnity Insurance Refund
- Since 2016, indemnity insurance policyholders who have stayed abroad for 3 months or more can get their premiums refunded after returning to Korea.
- This applies only to indemnity insurance policies that are eligible for a refund, which you can check directly with your insurer.
- You can apply for the refund by submitting a certificate of entry and exit, a copy of your passport, and an indemnity insurance refund application form to your insurer.
| Indemnity insurance refund conditions | Details |
| Minimum stay | A stay of 3 months or more abroad since 2016 |
| Required documents | Certificate of entry and exit, copy of passport, refund application form |
| Refund procedure | You must apply for the refund directly with your insurer |
| Limits on the refund amount | The refund amount may be limited depending on the conditions and policy terms |
The Refund Can Be a Hassle, but It's a Benefit You Shouldn't Miss
- To get the refund, you have to contact your insurer and apply yourself.
- The refund amount may be limited due to conditions, policy terms, and so on.
- If you plan to stay abroad in the future for a long-term stay or a business trip, it's a good idea to contact your insurer to save on premiums.
My Actual Refund Experience
I recently spent about 3 months abroad. I called Samsung Life Insurance, sent them my certificate of entry and exit, and received a refund of my indemnity insurance premiums for the roughly 120 days I stayed overseas. The refund was completed within a minute after I applied and sent the documents.
Wrapping Up
The indemnity insurance premium refund you can get after leaving Korea for 3 months or more doesn't happen automatically. The process may feel a bit tedious, but with a single phone call and a few documents, you can get back anywhere from tens of thousands to hundreds of thousands of KRW. So if you live abroad and have a Korean indemnity health insurance policy, be sure to apply.
How to Get a Health Insurance Premium Refund or Suspend Payments When Moving Abroad3 min read
