Dongyang Life Insurance Launches 'Simple Customized Protection Insurance' Available to Policyholders with Pre-existing Conditions

On the 4th, Dongyang Life announced the launch of 'Suho Angel Easy Customizable Insurance,' a simplified underwriting insurance that provides tailored coverage designed according to the customer's desired protection.

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance announced on the 4th that it has launched a simplified underwriting insurance product called 'Suho Cheonsa Simple Customized Coverage Insurance,' which provides customized coverage designed according to the customer's desired protection.

This product, with accidental death as the main contract, offers coverage for surgery, hospitalization, and treatment costs related to the three major diseases?cancer, cerebrovascular disease, and ischemic heart disease?through the subscription of 19 different riders.

For example, customers who want to focus on coverage for cancer diagnosis and treatment costs can receive protection from surgery to recovery by subscribing to cancer-related riders.

The General Cancer Diagnosis Rider (renewable) pays 10 million KRW upon confirmed diagnosis of cancers other than breast or prostate cancer, and the High-Cost Treatment Cancer Rider (renewable) guarantees 10 million KRW if diagnosed with high-cost cancers requiring expensive treatment.

The Specific and Minor Cancer Diagnosis Rider (renewable) pays 10 million KRW upon diagnosis of breast or prostate cancer, and 5 million KRW for carcinoma in situ, other skin cancers, borderline tumors, thyroid cancer, or colorectal mucosal cancer.

The Targeted Anticancer Drug Authorized Treatment Coverage Rider (renewable) provides 10 million KRW once upon confirmed diagnosis of cancer, colorectal mucosal cancer, other skin cancers, or thyroid cancer, and when receiving targeted anticancer drug authorized treatment directly for that purpose.

The simplified underwriting eligibility age ranges from 30 to a maximum of 80 years old, with insurance periods selectable between 10 or 20 years. Coverage can be renewed up to age 100, and premium payments are waived in case of disability exceeding 50%. Additionally, through the premium waiver rider, if diagnosed with cancers other than breast or prostate cancer, cerebral hemorrhage, or acute myocardial infarction, premium payments for the initial contract of subsequent premium waiver eligible contracts are also waived.

A Dongyang Life Insurance official stated, "We developed this product so that individuals with pre-existing conditions or elderly customers can receive the same coverage as one of our representative products, Suho Cheonsa Customized Coverage Insurance, through simplified underwriting," adding, "The biggest feature is providing coverage tailored to each customer's individual needs through customized product design."

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