Cover Your Privates: Insurance for GenitaliaMen can now insure their genitalia.
In conjunction with LG Insurance, Paxinsu (www.paxinsu.com) is now offering so-called 'underwear insurance' which will give men insurance coverage in case of 'damage' to their genitalia. This insurance policy is being offered exclusively to registered members of the site.
This insurance, part of a group insurance policy, will only require premiums of 1,000 to 3,000 won a year. In the case of castration or the loss of both testicles, 10 million won (about $9,000) will be awarded in insurance benefits. In the case of the penis becoming damaged or of erectile dysfunction, up to 6 million won (about $5,300) will be paid. If the insurance policy holder loses just one testicle, up to 3 million won (about $2,700) will be paid in benefits. However, this special insurance will not be available to people "working" in the sex industry or in the case of motor accidents.
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