Dongyang Life Insurance launched the online insurance product "Suho Angel Smart Mini Cancer Insurance," which can be easily subscribed to online, on the 28th.
[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance launched an online insurance product called 'Suho Cheonsa Smart Mini Cancer Insurance' on the 28th, which can be easily subscribed to online.
Designed for young adults just starting their careers who find expensive cancer insurance burdensome or for customers who already have cancer insurance but want to strengthen insufficient coverage, the premium is less than 1,000 KRW per month based on age 30.
The insurance consists of Type 1, which covers diagnosis costs for the three most common cancers?stomach cancer, liver cancer, and lung cancer?and Type 2, which covers diagnosis costs for five major cancers. For Type 2, if the insured is male, it covers stomach cancer, liver cancer, lung cancer, colon cancer, and prostate cancer; if female, it covers stomach cancer, liver cancer, lung cancer, colon cancer, and breast cancer.
Upon a confirmed diagnosis of either the three major cancers or the five major cancers, a one-time cancer diagnosis benefit of 10 million KRW is paid. However, if the diagnosis is confirmed within less than one year from the contract date, only 50% of the benefit is paid.
Subscription is available for those aged 20 to 65, and the insurance period can be selected between 5 years or 10 years. If a disability of 50% or more occurs during the premium payment period, future premium payments are waived.
A Dongyang Life Insurance representative said, "Considering that the subscription process is conducted non-face-to-face, we simplified the product structure so that customers can understand it more easily," adding, "This product focuses on covering cancers with a high probability of occurrence at an affordable premium."
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