Samsung Life Launches Whole Life Insurance Allowing Enrollment Even After Hospitalization or Surgery Within 2 Years

Samsung Life announced on the 19th that it will start selling the 'Super Simple Secure Plus Whole Life Insurance,' which allows enrollment even if there is a history of hospitalization or surgery within the past two years, starting from the 21st.

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 19th that it will start selling the 'Super Simple Dundeun Plus Whole Life Insurance,' which allows enrollment even if there is a history of hospitalization or surgery within the past 2 years, starting from the 21st.

Existing simple whole life insurance required customers to notify the insurer if they had been hospitalized or undergone surgery within the past 2 years. However, this product allows enrollment as long as there is no history of hospitalization, surgery, or additional examination (re-examination) recommendations within the past 3 months, and no diagnosis, surgery, or hospitalization due to cancer, stroke, angina, or myocardial infarction within the past 5 years.

The main insurance covers death, with a maximum enrollment limit of 1 billion KRW. Through riders, it provides coverage for cancer, cerebral hemorrhage, and acute myocardial infarction diagnoses, which are of high interest to customers with pre-existing conditions. A total of 11 types of riders can be selected, offering various protections such as diagnosis, hospitalization, and surgery.

After the premium payment period, additional payments and mid-term withdrawals are possible. The enrollment age is from 30 to 70 years old based on the main insurance, and the insurance period is whole life.

Riders are renewed every 3 or 15 years and provide coverage up to a maximum age of 100. However, premiums may increase upon renewal due to changes in insurance age, base rates, and other factors.

A Samsung Life Insurance official stated, "Reflecting the social phenomenon of rapidly aging population, we developed this product to meet the needs of customers with pre-existing conditions who had difficulty enrolling in existing simple whole life insurance." He added, "It is expected to attract the interest of customers with pre-existing conditions who want coverage not only for death but also for diagnosis and surgery of the three major diseases."

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