“Seizing the Golden Time for Dementia Treatment”... Kyobo Life Launches “Kyobo The安心 Dementia and Long-term Care Insurance”

Kyobo Life Insurance announced on the 25th that it has launched the non-participating product “Kyobo The安心 Dementia and Long-term Care Insurance,” which protects the golden time for dementia treatment through early detection and the use of the latest drug therapies.

Recently, dementia care has moved beyond simply looking after patients and has entered an “era of active management,” in which the progression of the disease is delayed as much as possible through new drug therapies. This product reflects the latest medical trends by combining industry-leading coverage for targeted therapies with a long-term care support system, focusing on improving the quality of life for patients and their families.

Its most notable feature is that it provides full-scale coverage for “Leqembi (ingredient name: Lecanemab),” the latest targeted dementia treatment that removes Alzheimer’s causative substances and delays disease progression by about 27%.

It covers the cost of approved targeted dementia drug therapies, which can amount to tens of millions of won per year, up to a combined rider limit of 25 million won, helping customers start optimal treatment within the golden time without financial burden. It also supports the cost of precision tests required for dementia diagnosis (CT, MRI, PET) once a year to assist with early detection.

Coverage by dementia stage has also been significantly strengthened. When the rider is added, a lump-sum diagnosis benefit and a lifelong monthly living allowance are paid not only for severe dementia but also when mild or moderate dementia occurs, easing the burden of long-term care expenses. Even if the insured dies early while receiving the living allowance, payment is guaranteed for at least three years (36 installments).

Another strength is that long-term care coverage has been expanded to an industry-leading level. The number of days covered for daily hospitalization caregiver use, which was previously capped at 180 days, has been increased to up to 365 days (180 days for long-term care hospitals), eliminating gaps in care costs. For the hospitalization caregiver-use rider, customers can choose between a standard type and an increasing type. Under the increasing type rider, the per-day benefit rises to 150% after 10 years from enrollment and to 200% after 20 years, allowing customers to hedge the risk of rising care costs due to inflation.

It also stands out for its meticulous coverage of long-term care grades (Grades 1 to 5), including the cognitive support grade, through segmented riders such as long-term care diagnosis, in-home and facility benefits, and home-visit care support benefits.

After a long-term care grade is assigned, the product provides per-day or per-month usage benefits when in-home or facility benefits, day and night care, or home-visit care services are used. In particular, a new “combined in-home benefit rider” has been introduced to support optimized care when two or more services are used simultaneously among home-visit care, home-visit bathing, home-visit nursing, day and night care, and short-term care. In addition, if the insured receives at least a cognitive support grade in the long-term care assessment, they can receive a diagnosis benefit and use in-home benefits and day and night care services.

To reduce customers’ financial burden, the product also offers a premium refund benefit that returns the premiums for the main contract and eligible riders when a long-term care diagnosis of Grade 1 to 4 is made.

A Kyobo Life Insurance representative said, “We have introduced an all-in-one dementia and long-term care insurance product that provides integrated coverage from dementia screening and diagnosis to the latest drug therapies, long-term care, and caregiving, in line with the paradigm shift in dementia treatment,” adding, “We expect that coverage for the latest targeted drug therapies such as Leqembi, along with expanded daily benefits for hospitalization caregiver use, will help dementia patients and their families reduce their financial burden and focus on treatment.”