Four New Riders for Managing Geriatric Diseases
Enhanced Support for Care Services
On May 13, Samsung Life Insurance announced that it will begin selling the "Samsung Well-Aging Health Insurance" starting the following day.
This product offers comprehensive coverage throughout the entire aging journey, including health coaching during youth and good health, early detection and prevention of geriatric diseases, as well as treatment and care after diagnosis.
The company has introduced four new "Well-Aging Disease Coverage Riders," which selectively cover six major groups of geriatric diseases.
The riders provide coverage for major diseases considered early signs of geriatric conditions. These include sleep and mental disorders, endocrine and autoimmune diseases, metabolic diseases such as hypertension, hyperlipidemia, and diabetes, degenerative diseases such as osteoporosis, herpes zoster, and gout, and circulatory diseases such as cerebral hemorrhage and acute myocardial infarction.
In addition to coverage at the time of diagnosis, the product encourages customers to maintain consistent health management for disease prevention.
Support for treatment-related expenses has been strengthened. After enrolling in the dementia rider, customers diagnosed with dementia are covered not only for drug treatments but also for specialized rehabilitation and psychotherapy treatments.
The scope of health management services has been expanded to reflect the latest healthcare trend of slow aging. During normal times, if customers apply within six months from the service start date and complete an analysis through a questionnaire or data scraping, they receive a free genetic testing kit. Based on this, they are provided with one-on-one dedicated health coaching.
Upon diagnosis, five types of services are provided up to 30 times over five years from the date of occurrence, including housekeeper support service (4 hours, 0.5 session), rehabilitation exercise service (1 hour, 1 session), nurse accompaniment service (1 session), and companion support service (4 hours, 0.5 session). In case of premium waiver due to specific reasons, the company also supports consultations for admission to care facilities and vehicle escort services.
The product is available to insured persons who pay a monthly premium of at least 25,000 KRW and whose contracts are in good standing. Coverage is provided from the day after 30 days have passed since the contract date, up to age 100.
Samsung Life Insurance is also launching the "Simple Well-Aging Health Insurance," which allows even those with pre-existing conditions to enroll, as long as they do not fall under any of the three simplified disclosure items.
The three basic disclosure items are: ▲ whether there has been a recommendation or confirmed diagnosis for hospitalization, surgery, additional tests, or re-examination through consultation or examination within the past three months, or any suspected disease findings; ▲ whether there is a history of hospitalization or surgery due to disease or accident within the past two years; ▲ whether there is a history of diagnosis, hospitalization, or surgery for cancer, liver cirrhosis, chronic kidney disease requiring dialysis, Parkinson's disease, Lou Gehrig's disease, mild cognitive impairment, dementia, Alzheimer's disease, or stroke within the past five years.
The eligible age for enrollment in the Simple Well-Aging Health Insurance is 30 to 75 years old. Policyholders can choose a payment period of 10, 15, 20, or 30 years.
A Samsung Life Insurance representative said, "The Well-Aging Health Insurance was developed to extend the role of insurance in an era where youthfulness lasts longer," adding, "We will continue to introduce life-stage customized insurance products that reflect the diverse needs of our customers."
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