Lotte Insurance Launches 'let:care Care Insurance II'... "Coverage Extends to Mild Dementia"

Coverage for Moderate to Severe Dementia and Early Mild Dementia
Support for Housekeeping Services and Premium Exemption Provided

[Asia Economy Reporter Ki Ha-young] Lotte Insurance announced on the 2nd that it has launched the insurance service (product) 'let:care Ganbyeong Insurance II,' which broadly covers long-term care funds and dementia, and also supports housekeeping services.

This product is a nursing care insurance that provides coverage for long-term care funds when receiving a long-term care grade, as well as diagnosis fees for the three major adult diseases (cancer, stroke, acute myocardial infarction), surgery fees for injuries and illnesses, and hospitalization fees. It also provides coverage upon diagnosis of moderate or severe dementia, as well as early-stage mild dementia.

let:care Ganbyeong Insurance II supports 'housekeeping services' upon diagnosis of injury or illness with 80% (50%) or higher permanent disability and general cancer (when subscribing to the special contract). Additionally, it introduces premium payment exemption, allowing customers to maintain their insurance contract without additional premium payments upon being rated for long-term care grades 1 to 4, thereby reducing economic burden (when subscribing to lifetime maturity, excluding renewable special contracts).

This product is available for subscription from age 15 up to a maximum of 75 years old. The insurance period can be selected by the customer as annual maturity (10, 15, 20, 30 years) or lifetime maturity (90, 100 years), providing coverage up to age 100.

A Lotte Insurance official stated, "With the entry into an aging society and the increase in average life expectancy, along with the annual rise in elderly patients with dementia and other senile diseases, we launched let:care Ganbyeong Insurance II to provide practical help to patients and their families." He added, "We hope this insurance service, which offers long-term care funds, broad dementia coverage, and housekeeping services, will provide diverse protection against risks related to dementia and nursing care in old age."