The costs of lawsuit shall be borne by the plaintiffs.

On August 14, 2009, the deceased D (hereinafter referred to as “the Deceased”) entered into an insurance contract (E insurance, below, referred to as “the instant insurance contract”) with the Defendant, which caused the death insurance amount of KRW 50 million, while attending a university, and paid the premium.

At the time of the conclusion of the instant insurance contract, the Deceased received the product description, etc. after hearing the explanation on the main contents of the instant insurance contract from the insurer.

Under the insurance contract of this case, the beneficiary of death insurance is a legal person.

In the insurance policy of the insurance contract of this case, the deceased’s occupation is indicated as “university students (other than sports students)” and the time to contact immediately with the insurance company if there is any change (such as change in the occupation or duty of the insurer) in the entries in the securities or other insurance.

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Article 28 (Obligation to Notify after Contract) ① After entering into a contract, the contractor or the insured shall change his occupation, duty, or age (including the case where a private driver changes his occupation or duty as a commercial driver).

If a person directly uses a two-wheeled motor vehicle or motor bicycle, he/she shall, without delay, notify the company in writing and obtain confirmation from the insurance policy (insurance policy).

(2) (3) If the contractor neglects to pay the premium upon the request of the company in accordance with the notice under paragraph (1), the company shall reduce and pay the insurance money in proportion to the premium rate to be applied after the change of the occupation, duty, or age of the insurance premium rate applied before the change of the occupation, duty, or age.

However, the same shall not apply to damage caused by an accident not related to the changed occupation or duty.

(4) The contractor or the insured shall notify the company of the change of occupation, duty or age.