Your money might be sleeping under insurance contract



When signing up for insurance contract, you, as an insured, are a prospective ‘inheritee’. And you have to name a person who is going to be an inheritor. This defines who is going to receive your insurance claim, in case of your death or accident. 


Or, you might be an ‘inheritor’ under an insurance contract that you have never heard about. Your parents or spouse would have written your name under inheritor. Sudden accidents would not have given them time to tell you that you are the inheritor for insurance claim. Wouldn’t it be useful and convenient if you can browse related information for inheritor? Actually, there is a webpage, ‘Inheritor Checking System’ run by Financial Supervisory Service.




With this portal being effective, about KRW 189 hundred billion was granted to inheritors under insurance contracts. They would not have received their claim, unless checking the system. An inheritor can browse insurance contract, deposit, loan, guarantee, stocks, and transaction record under the name of inheritee. To use this system, an inheritor should visit commercial banks, insurance companies or post office for personal identification screening. Once applying for the system, a prospective inheritee can browse the system on the web called ‘I-Frame’. Within 5 to 15 days, the system will notify you of whether you are an inheritee or not.


Who knows that you may be eligible for insurance claim that you have never had a chance to know about? Your money might be sleeping under some insurance contact now. For you to receive insurance claim, there is no requirement that you must have known that you were a prospective inheritee. For this system to be more effectively and actively used, financial authorities will thoroughly maintain the system.




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