KB Sonbo, Exclusive Rights Acquired for Dementia Severity Assessment Test... "Contributing to Social Cost Reduction"

"Regular Support for CDR Test Fees...
Improving Patients' Quality of Life"

KB Insurance announced on the 24th that it has obtained a 3-month exclusive usage right from the General Insurance Association for the new special rider "Clinical Dementia Rating (CDR) Scale Test Support Fee," included in the newly launched product earlier this month, "KB Golden Care Long-term Care Insurance." The CDR test is a representative assessment tool for evaluating the severity of dementia, but previous insurance products did not cover this test. This time, the association recognized its value.

The rider covers the cost (benefit) of the CDR test once per year. Existing dementia insurance only provided coverage for diagnostic tests analyzing the causes of dementia, such as Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) scans.

KB Insurance expects that this rider will encourage dementia patients to visit hospitals and receive treatment, thereby contributing to improving patients' quality of life.

According to the National Medical Center, as of 2022, the estimated number of dementia patients aged 65 and older in South Korea was approximately 930,000. This number increased to 1.05 million last year and is expected to exceed 3.34 million by 2070. The annual management cost per dementia patient is about 22.2 million KRW. National dementia management costs are projected to rise from about 20 trillion KRW in 2022 to approximately 236 trillion KRW in 2070, an increase of about 12 times.

Earlier, KB Insurance launched the KB Golden Care Long-term Care Insurance earlier this month, which includes 28 new coverages, including the dementia CDR scale test support fee.

Yoon Hee-seung, Head of Long-term Products Division at KB Insurance, said, "With the acquisition of this exclusive usage right, the value of KB Golden Care Long-term Care Insurance, which provides comprehensive coverage from dementia testing to diagnosis, treatment, and long-term care, has been recognized."