Korea
ISLAMABAD: The Pakistan EPS Center Director Kim Ki-wook shared the latest update about the long-term ‘departure guarantee insurance’ and ‘return cost insurance’ among Pakistani workers.
The Embassy of the Republic of Korea in Islamabad shared this update on Thursday.
It is for those who have returned to Korea after the period of stay (up to 4 years and 10 months) has expired after employment in Korea through the Employment Permit System (E9).
It guides Pakistani workers to apply for “dormant insurance” which is inactive because you have not received “guaranteed severance insurance” and “cost return insurance”.
- Dormant insurance: 3 years from the date of occurrence of the reason for payment of insurance money, the extinctive prescription has been completed, but the policy holder has not retrieved it, so the insurance money for departure maturity and return expenses is kept by the Corporation.
However, many of the subjects who are not seeking dormant insurance money; and it is difficult to guide them individually because the address or contact information of many individuals has changed or is unclear.
In order to solve this problem, the EPS Center with the cooperation of the sending country (OEC) posted the status of workers who are not collecting dormant insurance money on the homepage of the sending country (OEC).
Workers who have returned to Korea after working in Korea through the Employment Permit System can check on the homepage of the sending country whether they are eligible. If they are eligible, they can apply to the Pakistan EPS Center by registered mail with the required documents according to the website guide.
In addition, workers who have recently returned to Korea without applying for ‘departure guarantee insurance’ and ‘return cost insurance’ can apply directly to the insurance company (Samsung Fire & Marine Insurance) by preparing the required documents according to the procedures provided when returning home.
Individuals can get help by making or submitting an application to the Pakistan PSE Centre.
