1. The Defendant: (a) against Plaintiff A, KRW 338,571,428; and (b) against Plaintiff B and C, KRW 225,714,285, and each of the said amounts.

Basic Facts

On November 30, 2015, E entered into an insurance contract with the Defendant with the term of insurance, insured E, beneficiary (Death) legal heir of the insured, insurance amount of KRW 790 million, insurance premium of KRW 1,975,000 per month, insurance premium of KRW 1,886,125 per month, and the payment period of KRW 20 years).

(hereinafter “instant insurance contract”). Of the terms and conditions of the instant insurance contract, the parts relating to the instant case are as follows.

Article 9 (Procedures for Payment of Insurance Money) (1) The Company shall, upon receipt of the documents prescribed in Article 8 (Claims for Insurance Money), have a certificate of receipt, send them to mobile phone text messages, electronic mail, etc., and shall pay insurance money or exempt the payment of insurance premium within three business days from the date of receipt of such documents.

Provided, That if it is necessary to investigate or confirm the grounds for exemption from the payment of insurance money or premiums, I will pay insurance proceeds or exempt the payment of premiums within 10 business days after receipt.

(hereinafter omitted) section 11 (Notice of Change of Address) ① contractor (including beneficiary if the beneficiary is different from the contractor) shall notify the company of the change in address or contact information without delay.

(2) If the contractor or beneficiary fails to notify the changes in the details of the change as provided for in paragraph (1), matters notified by the contractor or beneficiary of the changes in the way of registered mail, such as registered mail, to the company by the last address or contact address, shall be deemed to have reached the contractor or beneficiary at the time of the lapse of the generally necessary time for arrival.

Article 41 [In cases where the payment of premiums is in arrears, a peremptory notice and termination of a contract] (1) In cases of a monthly payment contract, when a contractor fails to pay the base premiums after the second installment and the additional special agreement by the due date for payment of premiums within two years (24 times) from the due date for the payment of premiums, the company shall be less than 14-day insurance period.