Hyundai Marine & Fire Insurance Launches 'New Life K Insurance' Allowing Enrollment for Policyholders with Pre-existing Conditions

Hyundai Marine & Fire Insurance announced on the 12th that it has launched the 'My Life Secure New Life Care Insurance,' which provides comprehensive coverage for various risks such as care costs, accidents, illnesses, long-term care, and dementia.

[Asia Economy Reporter Oh Hyung-gil] Hyundai Marine & Fire Insurance announced on the 12th that it has launched the 'My Life Secure New Life Care Insurance,' which provides comprehensive coverage for various risks such as care costs, accidents, illnesses, long-term care, and dementia.

For the first time in the industry, patients with pre-existing conditions who have no history of hospitalization or surgery within the past 3 years can subscribe to the nursing care insurance. Those with no history of hospitalization or surgery due to injury or illness within the past 2 years can also apply.

In particular, a non-surrender value type with premiums about 25% lower than the standard plan has been newly introduced. The long-term care and dementia coverage riders pay the full amount of premiums paid upon cancellation after the payment period.

Subscription is available from age 20 up to a maximum of 60, and the insurance period can be selected between maturity at age 90 or 100.

Coverage for caregivers and domestic helpers has also been strengthened. When a caregiver is needed during hospitalization, the company either provides a caregiver or the customer can choose a special contract to claim daily usage fees after directly employing a caregiver. The domestic helper support rider, previously only available upon disability diagnosis, has been extended to cover long-term care and moderate dementia diagnoses as well.

A Hyundai Marine & Fire Insurance official said, "We developed this product to expand the eligible subscribers compared to existing nursing care insurance and to offer various plans to help improve customers' quality of life."

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