Samsung Life announced on the 18th that it will sell the 'Cancer Dundeun Plus Whole Life Insurance,' which strengthens coverage for cancer.
[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 18th that it will sell the 'Cancer Dundeun Plus Whole Life Insurance,' which strengthens coverage for cancer.
The main insurance provides death coverage to supply necessary funds to the bereaved family. While existing insurance waived premium payments only when a disability of 50% or more occurred, this product has added cancer diagnosis as a reason for exemption, thereby enhancing cancer coverage.
Additionally, if the insured subscribes to the cancer diagnosis premium refund special contract and is diagnosed with cancer, the contract holder will be refunded the agreed premium selected within the main insurance basic premium.
If a customer who has not been diagnosed with cancer during the payment period receives their first cancer diagnosis after the payment period, 3% of the main insurance basic premium (1.2% for breast cancer and uterine cancer) will be paid as cancer living expenses for 10 years. For example, a customer with a main insurance basic premium of 50 million KRW who is diagnosed with stomach cancer for the first time after completing premium payments can receive 1.5 million KRW annually for 10 years, totaling 15 million KRW.
Also, the surrender refund generated by reducing the death benefit annually can be received in the form of an annuity. The start and payment period of the annuity can be selected in various ways. Applications can be made from age 45 to 90 after the payment period, and the payment period can be chosen from 5 to 30 years, with payments made monthly or annually.
The eligible age for subscription is from 15 to a maximum of 70 years old, and the payment period can be selected from 10, 15, or 20 years.
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