Samsung Life Introduces 'The Light Health Insurance' Offering Up to 25% Discount for Healthy Individuals

Samsung Life Insurance announced on the 10th that it will start selling the ‘Samsung The Light Health Insurance’ (non-dividend, no surrender value type) from the 11th, which offers coverage at a lower premium than general disclosure if the insured has no hospitalization or surgery history within the last 7 or 10 years as an additional disclosure (health disclosure).

This product provides more reasonable premiums for healthy customers (standard risk) who have no hospitalization or surgery history within 7 or 10 years among the pre-subscription disclosure items. Based on the 10-year health disclosure type, it is possible to subscribe at premiums up to 25% cheaper than existing general disclosure products. The additional disclosure period for the health disclosure type excludes hospitalizations or surgeries due to mild illnesses such as enteritis, urinary incontinence, and food poisoning, lowering the subscription threshold through relaxed underwriting standards.

This product offers coverage against a wide range of 26 types of cancer, brain, and heart diseases through three riders: ‘Integrated Cancer Diagnosis Rider,’ ‘Integrated Brain-related Disease Diagnosis Rider,’ and ‘Integrated Heart-related Disease Diagnosis Rider.’ Coverage is available once per diagnosis for each detailed coverage. It covers 12 cancer sites including stomach cancer, esophageal cancer, and colon cancer (excluding carcinoma in situ of the colon), as well as 7 types of cerebrovascular and cardiovascular diseases such as cerebrovascular disease, specific heart diseases, and arrhythmia.

When subscribing to the ‘Cancer Direct Treatment Coverage Rider’ and ‘Major Treatment Coverage Rider for Two Major Diseases,’ treatment costs are covered once annually for up to 10 years after diagnosis of cancer, brain, or cardiovascular diseases, reducing the financial burden of treatment. High-cost treatments at tertiary general hospitals can be more securely covered through the ‘Tertiary General Hospital Cancer Direct Treatment Coverage Rider’ and ‘Tertiary General Hospital Major Treatment Coverage Rider for Two Major Diseases.’

The eligible age for subscribing to Samsung The Light Health Insurance ranges from a minimum of 15 years to a maximum of 70 years. The payment period can be selected from 10, 15, 20, or 30 years.

A Samsung Life Insurance official stated, “Samsung The Light Health Insurance is a product that allows healthier individuals to prepare reasonable coverage with lighter premiums,” adding, “We will continue to strive to develop insurance products that go beyond traditional insurance.”