On the 13th, Samsung Fire & Marine Insurance announced the launch of an internet-exclusive insurance product called 'Yubyeongryeokja Actual Medical Expense Insurance,' which is available to customers with past treatment history or chronic illnesses.
[Asia Economy Reporter Oh Hyung-gil] Samsung Fire & Marine Insurance announced on the 13th that it will launch an internet-only insurance product called 'Yubyeongryeokja Silseun Medical Expense Insurance,' which is available to customers with past treatment history or chronic illnesses.
It is available for individuals aged 5 to 65, with premiums subject to change annually upon renewal, and the option to decide on re-enrollment every three years, providing coverage up to a maximum age of 100.
In particular, it is a simplified underwriting insurance that allows easy enrollment if the applicant meets any of the following three criteria: no hospitalization, surgery, or additional examination recommendations within the past 3 months; no hospitalization, surgery, or treatment lasting more than 7 days within the past 2 years; and no diagnosis, hospitalization, surgery, or treatment for cancer (excluding leukemia) within the past 5 years.
However, there are differences in coverage compared to general medical expense insurance, so caution is required when enrolling. While the deductible for general medical expense insurance is at least 10%, the deductible for Yubyeongryeokja Silseun Medical Expense Insurance is 30%. Additionally, prescription drug costs and non-reimbursable additional riders are excluded from coverage under Yubyeongryeokja Silseun Medical Expense Insurance.
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