[Asia Economy Reporter Changhwan Lee] Samsung Life Insurance announced on the 17th that it will launch the 'Samsung Dream-filled Child Insurance (Non-dividend)' in May, the month of family.
The newly launched 'Dream-filled Child Insurance' has expanded the eligible age for subscription up to 30 years old, allowing children in their growth period to young adults starting their careers to enroll.
This product includes 25 core coverages necessary from childhood to adulthood, covering major diagnoses such as high-cost cancer, general cancer, minor cancer, cerebrovascular disease, ischemic heart disease, as well as hospitalization, surgery, treatment, and accident coverage, all under a single main insurance policy.
Previously, those aged 15 to 30 faced restrictions when subscribing to adult-only products due to adult underwriting standards, but this product applies separate underwriting standards for children, making enrollment easier.
The company explained that since this product newly covers high-cost cancer treatment diagnoses, which had been a significant burden, and provides coverage up to age 50, it also added coverage for diagnoses of cerebral hemorrhage and acute myocardial infarction.
Daily ICU hospitalization expenses are covered up to 100,000 KRW, and diagnosis fees for four specific major digestive diseases?esophagus, stomach, duodenum, and peptic ulcers?have been added.
The maturity benefit has been doubled compared to the existing Dream Tree Child Insurance, providing a congratulatory payment of up to 20 million KRW if the insured survives until maturity, regardless of whether insurance benefits were paid during the policy period. This can be used for marriage funds and is paid as a fixed amount according to the subscription amount.
The company emphasized that grandparents or parents can subscribe as a gift for their grandchildren or children’s school entrance or social advancement, helping them prepare a solid health asset until maturity. At maturity, the maturity benefit can be used to support the grandchildren’s or children’s financial independence.
The eligible age for subscription is from 7 to 30 years old, with a 20-year maturity period, and the payment period can be selected between 10 years or 20 years.
A Samsung Life Insurance official stated, “Dream-filled Child Insurance is a product that comprehensively provides essential coverage for both children and young adults under a single main insurance policy,” adding, “It is suitable for customers who want to prepare practical insurance for their children or grandchildren.”
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