Samsung Life Insurance, Coverage from Early Signs to Severe Stages of Brain and Cardiovascular Diseases

Launch of All-in-One Brain and Heart Insurance

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 17th that it will sell the 'All-in-One Brain and Cardiovascular Protection Insurance,' which strengthens coverage for brain and cardiovascular diseases.

This product, available from the 19th, is the first in the insurance industry to cover brain and cardiovascular diseases from early symptoms to complications. If diagnosed with early symptoms such as 'mini stroke (transient cerebral ischemic attack)' or 'atrial fibrillation and flutter,' 1 million KRW will be paid once for each diagnosis.

Complications are also covered as an additional rider. If diagnosed with pneumonia during hospitalization for cerebral hemorrhage or cerebral infarction, or diagnosed with heart failure during hospitalization for acute myocardial infarction, 20 million KRW will be paid once for each diagnosis. However, only 50% is paid if early symptoms or complications are diagnosed within one year of enrollment. The monthly premium for the rider covering specific complications during hospitalization for the two major diseases with 20 million KRW coverage is 37,080 KRW.

Upon the first diagnosis of severe diseases such as cerebral hemorrhage or acute myocardial infarction, up to 20 million KRW is paid from the main insurance. If a re-diagnosis occurs after two years from the previous diagnosis, additional coverage is provided at the time of re-diagnosis.

When subscribing to the rider, living expenses are paid for up to 10 years if the insured survives after diagnosis of cerebral hemorrhage or acute myocardial infarction. The monthly premium for the cerebral hemorrhage living expenses rider with 10 million KRW and the acute myocardial infarction living expenses rider with 10 million KRW is 26,930 KRW. However, these living expenses riders have a 15-year renewable term with premium payments in advance, and premiums may increase upon renewal.

To expand coverage while lowering premiums, a high-quality health declaration system that does not require separate diagnosis is operated. The existing high-quality health system required passing three criteria?body mass index, smoking, and blood pressure?for premium discounts, but this product offers discounts if only body mass index and smoking status meet the high-quality criteria.

Applicants aged 15 to 70 can enroll, with insurance periods selectable among 80, 90, or 100 years, and premium payment periods selectable among 10, 15, 20, or 30 years.

A Samsung Life Insurance official said, "This product specializes in coverage for brain and cardiovascular diseases, where early detection is important and prognosis varies greatly depending on continuous management and treatment," adding, "It is suitable for customers who want broad coverage from early treatment to complications."

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