On July 1, KDB Life Insurance announced the launch of "KDB Life Fit Health Insurance," a product designed to provide comprehensive coverage for health risks throughout a customer's entire life.
This product significantly expands the coverage compared to existing insurance products, which only offered specific coverage for illnesses such as cancer, dementia, and long-term care, by reflecting the rapidly increasing incidence of major diseases and the trend of rising chronic illnesses due to an aging population. It features coverage for the three major diseases?cancer, brain disorders, and heart diseases?as well as living expenses and caregiving support after the onset of certain illnesses, enabling customers to design a personalized and integrated protection plan.
The main contract is non-renewable and is divided into standard and simplified underwriting types, with each further classified into standard and Surrender Value Non-Payment Type III. The Surrender Value Non-Payment Type III does not pay a surrender value if the contract is canceled during the premium payment period, and pays a lower surrender value than the standard type if canceled after the payment period ends. In return, it offers lower premiums compared to the standard type.
The eligible subscription age ranges from 15 to 80 years old for both men and women. Depending on customer preference, the premium payment period can be selected from 5, 7, 10, 15, 20, 25, or 30 years, and the coverage period can be chosen to mature at age 80, 90, or 100.
The simplified underwriting type allows customers to subscribe even if they have chronic illnesses or a medical history, as long as they do not meet any of the following: ▲ confirmed diagnosis, suspected findings, hospitalization, surgery, or recommendation for additional tests within the past 3 months ▲ hospitalization or surgery due to illness or accident within the past 2 or 5 years ▲ diagnosis, hospitalization, or surgery for cancer, angina, myocardial infarction, stroke, liver cirrhosis, chronic kidney disease requiring dialysis, Lou Gehrig's disease, or Parkinson's disease within the past 5 years.
Additionally, the product can be linked with KDB Care Service, allowing for comprehensive health management. Subscribers can access a total of seven services through "KDB Care Service," which consists of a "basic service" for health management and a "specialized service" focused on health recovery. These services include hospital appointment and health checkup reservations, caregiver support, nurse accompaniment, and housekeeping assistance.
A KDB Life Insurance representative stated, "The new 'KDB Life Fit Health Insurance' embodies our philosophy of accompanying customers throughout their entire health journey, going one step beyond traditional coverage methods," adding, "We will continue to introduce innovative protection products that flexibly respond to evolving lifestyles and health issues."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
