Over 36,000 Units Sold in Just 3 Months
Also Covers Metastatic Cancer Diagnosis Fees
Lotte Insurance's new comprehensive cancer insurance product, launched with exclusive rights, has sold over 30,000 policies within just three months of its release.
On the 6th, Lotte Insurance announced that 'let:smile Comprehensive Cancer Insurance (88)', launched on June 5th, achieved 36,431 contracts and approximately 2.5 billion KRW in gross premiums within three months. This equates to about 500 policies sold daily and 10,000 policies monthly.
This product is the industry's first to introduce a ‘Integrated Metastatic Cancer Diagnosis Benefit’ covering up to eight occurrences based on eight primary and metastatic cancer sites. Considering the pathological characteristics of cancers prone to metastasis, customers can set differentiated diagnosis benefits for each metastatic cancer.
The product has also been granted exclusive rights until October. Exclusive rights allow a company that develops innovative insurance services or products to sell them exclusively for a certain period. It is also referred to as the insurance industry's 'patent system.'
Lotte Insurance plans to launch 'Simple 335 Cancer Insurance (88)' later this month to enhance options for customers with pre-existing conditions. This insurance service allows enrollment through simplified disclosure if the customer has no hospitalizations, surgeries, or additional examination recommendations within the past 3 months; no hospitalizations or surgeries (including cesarean sections) within the past 5 years; and no diagnosis, hospitalization, or surgery for cancer, liver cirrhosis, or heart valve disease within the past 5 years.
A Lotte Insurance representative stated, "We will continue to provide innovative insurance services that meet customer needs and grow into a company that customers become fans of."
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