KB Insurance Launches Coverage for Severe Diseases (Cerebrovascular and Cardiac) Under Special Medical Expense Support Program

[Asia Economy Reporter Changhwan Lee] KB Insurance announced on the 12th that it has launched a special rider called ‘Severe Disease (Cerebrovascular·Cardiac) Special Case Coverage,’ which pays insurance benefits if the insured is registered as a special case for severe cerebrovascular or cardiac diseases, marking the first time in the non-life insurance industry.

The ‘Severe Disease Special Case’ refers to a system operated by the National Health Insurance to reduce the medical expenses burden on citizens for patients with severe diseases and rare diseases who face high medical costs.

Currently, the ‘Severe Disease Special Case’ system mostly limits benefits to reducing covered treatment costs. However, KB Insurance explained that the newly launched ‘Severe Disease (Cerebrovascular·Cardiac) Special Case Coverage’ can actually reduce the burden of non-covered treatment costs that patients must pay themselves.

Additionally, while existing cerebrovascular and cardiac disease diagnosis benefits ended after the initial diagnosis payment, this coverage allows for repeated payments ‘once per year’ upon occurrence of an insured event. This enables preparation for risks such as rehabilitation treatment costs and income loss continuously incurred due to disease recurrence.

If a policyholder who has subscribed to the ‘Severe Disease (Cerebrovascular·Cardiac) Special Case Coverage’ for one year is hospitalized during the acute phase due to severe cerebral hemorrhage and registered as a severe disease special case (up to 30 days), they can receive up to 10 million KRW in compensation. If, after three years, the policyholder undergoes metal stent insertion surgery for a stroke and is re-registered as a severe disease special case, an additional 10 million KRW will be compensated, and the coverage will continue thereafter.

This rider is available for subscription up to age 75 and is included in KB Insurance’s comprehensive health insurance products such as ‘KB 4th Generation Health Insurance,’ which has been on sale since the 1st of this month.