Focus on 'Vaccine Insurance' in With Corona Era... "Preparing for Side Effects"

Insurance Product Launched for Payouts upon Anaphylaxis Diagnosis

[Image source=Yonhap News]

[Asia Economy Reporter Ki Ha-young] As the phased recovery of daily life (With Corona) is implemented, the demand for COVID-19 vaccination has increased, drawing attention to the "vaccine insurance" launched by non-life insurance companies.

According to the non-life insurance industry on the 7th, Samsung Fire & Marine Insurance, DB Insurance, Hyundai Marine & Fire Insurance, KB Insurance, Meritz Fire & Marine Insurance, and Lotte Insurance offer anaphylaxis diagnosis insurance. This product, called vaccine insurance, guarantees insurance benefits when the insured is diagnosed with anaphylaxis. Since it only partially covers anaphylaxis among vaccine side effects, it is important to keep in mind when subscribing that no insurance benefits will be paid for other vaccine side effects, no matter how severe they are.

Anaphylaxis refers to an acute systemic allergic reaction caused by specific external antigens such as food, toxins, or vaccines. Although it occurs rarely, it can be fatal if severe.

Samsung Fire & Marine Insurance's "Emergency Medical Anaphylaxis Diagnosis Benefit" rider compensates once annually if the insured visits the emergency room and is confirmed to have anaphylaxis during the insurance period.

DB Insurance's "JibIn(in) Life Protection Insurance" covers both home and people in response to environmental changes caused by COVID-19. This insurance product covers diagnosis fees for major mental illnesses such as depression, panic disorder, and post-traumatic stress disorder. It also strengthens home-related coverage for increased risks of working from home, including consolation money for noise damage between floors and repair costs for home appliances. It pays 2 million KRW upon anaphylaxis diagnosis.

Hyundai Marine & Fire Insurance sells "Specific Infectious Disease II Hospitalization Daily Allowance" and "Anaphylactic Shock Diagnosis" as separate riders. The "Specific Infectious Disease II Hospitalization Daily Allowance" pays insurance benefits per day for up to 30 days if hospitalized and treated for a specific infectious disease. If diagnosed with anaphylaxis, insurance benefits are paid once annually.

KB Insurance sells an insurance product called "Isolation Room Hospitalization Treatment Fee." It pays treatment costs if hospitalized in an isolation ward due to infectious diseases such as COVID-19.

Lotte Insurance and Meritz Fire & Marine Insurance also sell "Anaphylaxis Diagnosis Benefit" insurance products as riders. If diagnosed and confirmed with anaphylaxis during the insurance period, the insurance amount is paid once annually as insurance benefits.

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