KB Insurance Launches 'KB Geumjjokgateun Child Insurance' with Expanded Mental Health Coverage

[Asia Economy Reporter Changhwan Lee] KB Insurance announced on the 27th that it will launch a new child insurance product, ‘KB Geumjjokgateun Child Insurance,’ on the 1st of next month, which expands coverage from physical health to mental health for children.

‘KB Geumjjokgateun Child Insurance’ is the first in the industry to include coverage for ‘Growth Period Autism Diagnosis Benefit,’ which covers childhood autism not covered even by indemnity medical insurance, and ‘Growth Period Specific Behavioral Development Disorder Diagnosis Benefit,’ which covers specific speech and language developmental disorders, attention deficit hyperactivity disorder (ADHD), chronic tic disorder, etc., which have been increasing recently due to environmental factors.

Considering the recent situation where access to smart devices has increased from infancy, it also added lifestyle-oriented coverage essential for the Digital Native generation, such as ‘Visual/Auditory and Vestibular Function Test Support Fee,’ ‘Infant Vision Correction Glasses Treatment Fee,’ ‘Smart Device Disease Surgery Fee,’ and ‘Scoliosis Diagnosis Benefit.’

Coverage for parents has also been strengthened. A new ‘Pregnancy and Childbirth Disease Indemnity Hospitalization Medical Expense’ was established to cover hospitalization treatment for complications of labor and delivery, maternal disabilities related to pregnancy, miscarriage, etc.

In line with the launch of this child insurance, KB Insurance has exclusively partnered with the parenting mentoring specialist company ‘Oh Eun-young Academy’ to provide online-based psychological testing services to subscribing customers.

Joonseong Bae, Head of Long-term Products Division at KB Insurance, said, “We launched this child insurance with KB Insurance’s sincere wish to help children grow safely and healthily and to grow up properly,” adding, “Going forward, KB Insurance will continue to develop innovative products that enhance the essential coverage of insurance while improving customers’ quality of life.”