KB Insurance Launches 'KB O! Smart Simple Health Insurance (3.5.5)'

[Asia Economy Reporter Changhwan Lee] KB Insurance announced on the 8th that it has newly launched a new product, ‘KB Oh! Wise Simple Health Insurance (3.5.5),’ designed for policyholders with relatively mild symptoms.

‘KB Oh! Wise Simple Health Insurance’ was released for customers who have been diagnosed with chronic diseases such as hypertension, hyperlipidemia, and diabetes but whose symptoms are mild and well-managed through medication or treatment.

This product is an ultra-mild policyholder-exclusive insurance product that offers coverage comparable to comprehensive health insurance for healthy standard-body customers, with more reasonable premiums (about 85% of existing mild policyholder insurance premiums) than existing mild policyholder insurance.

This product is available to anyone who does not have any issues in the ‘3-5-5’ disclosure items.

The ‘3-5-5’ (▲whether there has been hospitalization, surgery, or additional examination doctor’s opinion within the last 3 months ▲whether there has been hospitalization or surgery within the last 5 years ▲whether there has been a diagnosis, hospitalization, or surgery for any of the 8 major diseases (cancer, leukemia, angina, myocardial infarction, heart valve disease, liver cirrhosis, stroke, AIDS) within the last 5 years) disclosure allows for simple insurance enrollment without submitting separate documents.

‘KB Oh! Wise Simple Health Insurance’ also includes KB Insurance’s industry-first coverage this year for ‘Severe Disease (Cerebrovascular/Cardiac) Special Case Beneficiaries’ and the ‘Car-T Anticancer Drug Authorized Treatment Fee,’ which is effective for high-cost blood cancer treatment.

Joonseong Bae, Head of Long-term Products Division at KB Insurance, said, “We aimed to reflect the recent trend of an increasing proportion of relatively healthy mild policyholders due to advances in medical technology in our product,” adding, “KB Insurance will continue to lead the development of various insurance products that reflect the times and customer needs.”