Hanwha Life, Surgery Coverage up to 80 Million KRW for Policyholders with Pre-existing Conditions 'Lifetime Surgery Insurance'

Hanwha Life announced on the 2nd that it has launched the 'Easy Enrollment Surgery Whole Life Insurance for Everyone, Including Those with Pre-existing Conditions.'

[Asia Economy Reporter Oh Hyung-gil] Hanwha Life announced on the 2nd that it has launched the 'Easy Enrollment Anyone Needs Surgery Expense Whole Life Insurance,' which allows even those with pre-existing conditions to enroll.

The insurance provides surgery coverage up to 80 million KRW for the three major diseases: cancer, brain, and heart conditions, even for those with pre-existing conditions. Considering that the usual surgery coverage limit for those with pre-existing conditions was around 10 million KRW, the enrollment limit has been significantly increased.

The policy riders have been subdivided to allow customers to directly select and enroll in coverage for only the desired surgeries based on the type of surgery, surgical disease area, or specific disease surgeries. The range of additional surgeries that can be added reaches 88 types, enabling customized surgery coverage considering personal medical history or family history.

Additionally, four frequently performed surgeries?arthritis, cataracts/glaucoma, hemorrhoids, and urinary incontinence?can each be added as separate riders. A renewable rider exclusively for surgeries now includes a 30-year renewal cycle option.

In particular, the easy enrollment surgery expense whole life insurance allows enrollment if the applicant does not meet any of the following three conditions: a medical opinion requiring hospitalization, surgery, or additional tests (re-examination) within the past 3 months; hospitalization or surgery (including cesarean section) due to illness or accident within the past 2 years; or diagnosis of cancer, cirrhosis, or chronic kidney disease undergoing dialysis, or hospitalization or surgery within the past 5 years.

Both men and women can enroll up to age 65. Based on a 20-year payment period starting at age 40, the premium for the main contract with a mandatory additional rider of 30 million KRW is 102,820 KRW for men and 93,560 KRW for women.