Hanwha General Insurance Secures First One-Year Exclusive Use Right in Long-Term General Insurance

Customized coverage for women’s life cycles to help overcome low birth rates
Recognized for originality, usefulness, and more

Hanwha General Insurance announced on the 4th that the "Pregnancy Support Benefit" rider included in the "Hanwha Signature Women’s Health Insurance 4.0," which was launched last month, has been granted a one-year exclusive use right by the General Insurance Association of Korea.

Since the introduction of the exclusive use right system, Hanwha General Insurance is the first in the long-term general insurance segment to receive a one-year grant. The Pregnancy Support Benefit rider, which has been granted this one-year exclusive use right, is the first in the industry to provide a one-time payment of 500,000 won upon pregnancy to ease the financial burden of prenatal tests and care. It has been highly evaluated as the first product in Korea to provide direct coverage for pregnancy.

In addition to the one-year Pregnancy Support Benefit, Hanwha General Insurance also obtained nine-month exclusive use rights for two other riders: the "Implantation Probability Improvement Test Benefit," which supports early overcoming of infertility by improving the success rate of in vitro fertilization, and the "Treatment-Induced Menopause Diagnosis Benefit," which provides coverage in cases of menopause caused by unavoidable medical treatment. These two riders received excellent evaluations for their originality, usefulness, innovativeness, and the level of development effort.

The riders that have obtained exclusive use rights this time were recognized for pioneering new coverage areas in pregnancy, childbirth, and infertility in line with the government’s efforts to overcome low birth rates, and for expanding the scope of coverage by taking into account risk factors by age group.

Since its launch in July 2023, Hanwha Signature Women’s Health Insurance has obtained a total of 20 exclusive use rights. A Hanwha General Insurance official said, "We have worked to expand the scope of coverage across all stages of life for women of all ages in order to provide greater benefits," adding, "We will continue to identify new areas of practical need for customers and maintain our competitive edge in the women’s insurance market."

This content was produced with the assistance of AI translation services.