Hyundai Marine & Fire Insurance Launches 'My Life Secure Life Care Insurance' Covering Care Expenses and Income Loss

Hyundai Marine & Fire Insurance launched the 'My Life Reliable Life Care Insurance' on the 18th, which comprehensively covers care costs and income loss from the economic activity period to old age.

[Asia Economy Reporter Oh Hyung-gil] Hyundai Marine & Fire Insurance launched the 'My Life Reliable Life Care Insurance' on the 18th, which comprehensively covers care costs and income loss from the working age to old age.

If a caregiver or housekeeper is needed due to illness, injury, or disability, support is provided. In case of hospitalization due to illness or injury, a caregiver is supported for up to 180 days, and if a disability occurs, a housekeeper is supported 100 times. If direct support is not desired, the insurance benefit can be received instead.

Unlike existing disability diagnosis coverage, it provides coverage regardless of the cause or type of disability, and if the degree of disability is severe, additional coverage is provided along with annual insurance payments until age 65 to compensate for income loss.

If long-term care grades (grades 1 to 5) are assessed, a lump sum is paid, and for the first time in the non-life insurance industry, monthly caregiving costs are paid up to age 110 when using home visit care or elderly care facilities, strengthening old-age preparation coverage.

It is available for subscription from age 20 to 70 and provides coverage up to age 100. The insurance period can be selected according to customers' needs between the 90- or 100-year maturity types. If the condition of receiving only 50% of the surrender refund upon cancellation during the premium payment period is chosen, the premium can be about 10-15% lower.