Hana Life Partners with Bomap to Launch 'DIY Cancer Insurance I Create'

[Asia Economy Reporter Ki Ha-young] Hana Life announced the launch of the (non-)DIY Cancer Insurance that allows customers to select only the coverage they need, and that it has partnered with insurtech company Bomap to start sales on Bomap from the 13th.

This insurance product allows customers to choose coverage only for the cancers they need, including general cancer, high-cost cancer, low-cost cancer, breast cancer, prostate and urinary tract cancer, stomach cancer, liver cancer, colon cancer, and lung cancer. Customers can directly select and subscribe to coverage for cancers they are worried about due to lifestyle habits or family history, enabling practical and tailored protection.

For a 30-year-old woman, choosing the Type 1 renewable plan with full payment results in a cost-effective monthly premium of 400 KRW, providing coverage of 20 million KRW for liver cancer. It is an ideal introductory cancer insurance product for the 30-45 age group who want to add specific cancer coverage to their existing insurance or prepare cancer insurance with a small amount.

Based on a subscription amount of 10 million KRW, selecting the Type 1 renewable plan with full payment covers stomach, liver, lung, and colon cancers each up to 20 million KRW, breast and prostate cancers with high incidence rates also up to 20 million KRW, low-cost cancers up to 10 million KRW, and high-cost cancers up to 100 million KRW, each covered once initially. If diagnosed within less than one year, 50% of the benefit is paid.

This product is available for subscription from ages 30 to 45 and consists of a non-renewable plan with coverage until age 100 without premium increases, and a renewable plan with premium renewal allowing coverage until age 100. The non-renewable plan offers payment terms of 10, 20, or 30 years, providing diverse options to meet customer needs.

Kim In-seok, CEO of Hana Life, stated, “We look forward to the successful launch of this cancer insurance product and will continue to provide differentiated products and services through cooperation with various fintech companies.”

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