Samsung Life Insurance announced on June 11 that it will begin selling the "The Light Simple Health Insurance (Renewable, Non-participating)" starting June 12.
The Light Simple Health Insurance (Renewable) is the third product to be launched in the popular "The Light" series in the comprehensive health insurance market.
This product is designed as a non-surrender value type, meaning there is no refund upon cancellation, but it allows customers to enroll at a reasonable premium. The premiums are lower than those of surrender value type products. In addition to the existing 20-year renewable option, a 30-year renewable option has been introduced to provide customers with more choices. This enables coverage for up to 30 years without concerns about premium increases.
The Light Simple Health Insurance (Renewable) allows for easy enrollment as long as applicants do not fall under any of the three disclosure items, even if they have a history of illness. The entry threshold has been lowered so that people with mild chronic conditions such as hypertension or diabetes can also be covered. Hospitalization and surgery history can be disclosed according to two types: within the past 5 years or within the past 10 years. Since premiums vary depending on the type of disclosure period, policyholders can enroll at reasonable premiums tailored to their health status.
The three basic disclosure items are: ▲ whether there has been a medical opinion or confirmed diagnosis of the need for hospitalization, surgery, additional tests, or re-examinations, or suspicion of disease based on examination or consultation in the past 3 months; ▲ history of hospitalization or surgery due to illness or accident within the past 10 years or 5 years; ▲ history of diagnosis, hospitalization, or surgery for cancer, liver cirrhosis, angina, myocardial infarction, stroke (cerebral hemorrhage, cerebral infarction), or heart valve disease within the past 5 years.
The Light Simple Health Insurance (Renewable) provides broad coverage for the three major diseases: cancer, brain, and cardiovascular diseases. When enrolling in key riders, policyholders receive diagnosis benefits. With the "Direct Cancer Treatment Rider" and the "Major Treatment Rider for Two Diseases," treatment costs are covered once per year for up to 10 years after diagnosis. For treatment at advanced general hospitals, which can be costly, the "Advanced General Hospital Direct Cancer Treatment Rider" and the "Advanced General Hospital Major Treatment Rider for Two Diseases" provide even stronger coverage.
By enrolling in the "Heavy Ion Radiotherapy Rider," policyholders can receive coverage for heavy ion therapy, known as the dream cancer treatment, for the first session. The "Premium Direct Cancer Treatment Rider" provides robust coverage for the latest non-reimbursed cancer treatments such as advanced radiotherapy, medication, and robotic surgery, covering each benefit once per year for up to 10 years.
The Light Simple Health Insurance (Renewable) is a level premium product. The policy term can be chosen between 20 years and 30 years. Enrollment is available from age 15 up to age 80, allowing older customers who previously had difficulty obtaining insurance to secure the coverage they need.
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