[Asia Economy Reporter Oh Hyung-gil] Orange Life announced on the 30th that it will launch the 'Orange Wide GI Whole Life Health Insurance,' which provides lifetime coverage for six major diseases with high incidence rates, as well as breast cancer and male and female reproductive organ cancers.
In addition to death coverage, the policy includes coverage for major diseases such as cancer, cerebral hemorrhage, acute myocardial infarction, end-stage renal failure, end-stage liver disease, end-stage lung disease, as well as breast cancer and male and female reproductive organ cancers as the main contract.
Furthermore, if a diagnosis of a major disease is confirmed, the GI (General Illness) insurance benefit of up to 100% of the main contract's basic insured amount is paid in advance. Even if death occurs after the GI insurance benefit has been paid, an additional 5% of the main contract's basic insured amount at the time the GI insurance benefit was triggered is paid as a death benefit.
To prepare for cancers prone to recurrence or metastasis, the 'Non-dividend Continuous Cancer Diagnosis Rider (Renewable)' can also be selected. Even if premium payment exemption benefits are received after the initial cancer diagnosis, it continuously covers recurrent cancer, metastatic cancer, residual cancer, and new primary cancers.
By adding the 'Non-dividend Continuous Two Major Diseases Diagnosis Rider,' continuous diagnosis benefits are paid each time a re-diagnosis is made for cerebral hemorrhage, cerebral infarction, and acute myocardial infarction. The 'Non-dividend GI Additional Coverage Rider (Mandatory Rider)' pays KRW 10 million (1 unit) once for each diagnosis of other skin cancers, thyroid cancer, colorectal mucosal cancer, borderline tumors, and carcinoma in situ.
If a health checkup report conducted after the contract is submitted six months after the contract date, a health checkup bonus equivalent to 0.1% of the main contract's insured amount is added as additional reserves up to 10 times. If the checkup results meet certain criteria set by the company, an additional 0.1% of the main contract's insured amount is added once more to the additional reserves.
Jae-woo Park, Executive Director of Orange Life, explained, "Advanced medical devices and targeted therapies, which are highly effective and satisfactory with minimal side effects but are not covered by health insurance, are continuously emerging. We provide lifetime coverage for GI diseases under the main contract so that customers can receive safe treatment without worry with evolving medical technologies."
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