Terms of Service

In these Terms:

• "Payer" means the person who pays premiums and holds insurance coverage.
• "Beneficiary" means the person designated to receive insurance payouts.
• "Policy" means your active insurance contract with locked premium rates.
• "Plan" means the insurance offering with current coverage terms and pricing.
• "Claim" means your request for insurance payout after a covered event.
• "Claim Condition" means the specific qualifying event or circumstance that must be met to file a claim under your plan.
• "Waiting Period" means the number of days after policy activation before you are eligible to file a claim.
• "Premium" means the amount you pay monthly for coverage.
• "Coverage" means the maximum payout amount for valid claims.

By registering for Cover You, connecting your wallet, or paying any premium, you agree to these Terms of Service and our Privacy Policy.

If you do not agree with any part of these terms, you may not use our service.

Cover You is available to individuals in Korea. By applying, you represent that you:

• Are between 18 and 65 years of age
• Are currently residing in Korea
• Meet the specific eligibility criteria for your selected plan
• Are not currently receiving overlapping compensation or benefits for the same coverage period
• Have access to a Phantom wallet with USDT on Solana network

Some plans may have additional eligibility requirements. Eligibility information is self-reported during registration. We reserve the right to verify your eligibility and deny or cancel coverage if information is found to be inaccurate.

Registration requires connecting your Phantom wallet. Your wallet address serves as your account identifier.

When you purchase a policy, your plan's premium rates and coverage amounts are locked for the duration of your policy. Future changes to plan pricing will not affect your existing policy.

You are responsible for maintaining access to your wallet and keeping your contact information current.

Premiums must be paid monthly in USDT on the Solana network via Phantom wallet. Premium amounts vary by plan and are locked at enrollment. Your monthly billing cycle starts from the date of your first payment (policy activation).

All payments are verified on the blockchain. Failed or incomplete transactions do not create coverage.

Grace Period: If you miss a payment, you have a 7-day grace period during which your coverage continues. During the grace period, a late fee of 1.5x your normal premium applies.

Policy Lapse: If payment is not received within the 7-day grace period, your policy will lapse and coverage will cease. Lapsed policies can be reactivated by paying the premium plus late fee.

Auto-Cancellation: If a lapsed policy remains unpaid for 30 days, it will be automatically cancelled. Re-application is required after cancellation, subject to current plan pricing.

Your policy provides insurance coverage as specified in your selected plan. Key terms include:

• Coverage amount, claim conditions, and waiting period are determined by your plan and locked at enrollment
• The specific events and circumstances covered are described in your plan's details
• Supporting documentation is required for all claims

Coverage begins after your policy is approved by our team, the waiting period has elapsed, and your premium payment is verified on the blockchain.

To file a claim, you must:

1. Submit a claim through your account dashboard
2. Provide documentation supporting your claim
3. Demonstrate that you meet the claim conditions specified in your plan
4. Provide any additional information requested by our claims team

Claims are reviewed manually and typically processed within 14 business days. Approved claims are paid to your designated beneficiary's wallet address.

We reserve the right to request additional documentation or deny claims that do not meet coverage requirements.

You must designate a beneficiary when creating each policy. A valid Solana wallet address is required for the beneficiary. The beneficiary receives payouts for approved claims.

The beneficiary's wallet must have an active USDT token account (ATA) for your policy to be approved. We verify this during the application process.

To change your beneficiary after policy creation, contact us at coveryou@10bms.com.

You may request cancellation of your policy by contacting us at coveryou@10bms.com.

Cancellations are effective at the end of your current billing period. No refunds are provided for partial months.

Policies that lapse due to non-payment will be automatically cancelled after 30 days. After automatic cancellation, re-application is required at current plan rates.

If you cancel and later re-apply, you will be subject to current plan pricing at that time.

Coverage does NOT include:

• Pre-existing medical conditions or injuries that occurred before your policy started
• Self-inflicted injuries or injuries from suicide attempts
• Injuries sustained during illegal activities
• Conditions not meeting your plan's minimum claim requirements
• Events specifically excluded by your plan's terms
• Injuries from war, terrorism, or civil unrest

Detailed exclusion lists are provided in each plan's description on the plan selection page.

All USDT premium payments are processed on the Solana blockchain, a public ledger. This means:

• Your wallet address and transaction amounts are publicly visible
• Transactions are permanent and cannot be reversed
• You are responsible for ensuring correct wallet addresses before sending payments

We are not responsible for payments sent to incorrect addresses or blockchain network fees.

Cover You's total liability for any claim is limited to the coverage amount specified in your policy.

We are not liable for:

• Delays in claims processing beyond our reasonable control
• Loss of access to your wallet or USDT
• Blockchain network failures or transaction delays
• Consequential damages or lost income beyond the coverage amount

We collect and process personal information as described in our Privacy Policy. By using Cover You, you consent to this data collection and processing.

Note that blockchain transactions are public and permanent. We cannot delete or modify transaction records.

We may update these Terms of Service at any time. Material changes will be communicated via email or dashboard notification.

Continued use of Cover You after changes constitutes acceptance of the updated terms.

Changes to terms do not affect the locked rates of existing policies.

These Terms are governed by the laws of the Republic of Korea.

Any disputes will be resolved through binding arbitration in Seoul, South Korea, conducted in English or Korean as mutually agreed.

You waive the right to participate in class action lawsuits against Cover You.

For questions about these Terms, contact us at:

Email: coveryou@10bms.com
Support: coveryou@10bms.com

For claims assistance, use the claims portal in your account dashboard.