A women is vaccinated at a long-term care hospital Gwangju, 330 kilometers south of Seoul, on March 23, 2021. (Yonhap)
SEOUL, March 26 (Korea Bizwire) — Insurance companies are coming up with plans that offer compensation for severe allergic reactions to coronavirus vaccines as South Korea begins inoculations.
LINA Korea introduced a new short-term, micro-insurance plan on Thursday that offers compensation for various kinds of anaphylactic shock.
If a subscriber suffers from anaphylactic shock for any reason, he or she will be entitled to receive a payout of up to 2 million won (US$1,762) for the first time only.
A special option will compensate for death caused by the coronavirus after taking the vaccine by paying up to 20 million won.
Samsung Fire & Marine Insurance Co. also introduced a new insurance plan for anaphylaxis, which pays up to 2 million won if a subscriber is diagnosed with anaphylaxis.
Anaphylaxis refers to a serious allergic reaction which can be caused by any foreign antigen including food, toxins, or vaccines. While uncommon, an anaphylactic shock may cause death.
Anaphylaxis can be triggered by vaccines, including those for the coronavirus and influenza.
M. H. Lee (mhlee@koreabizwire.com)
