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

[Asia Economy Reporter Oh Hyung-gil] Hyundai Marine & Fire Insurance announced on the 23rd 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 enroll.

In particular, a non-surrender value plan with premiums approximately 25% lower than the standard plan has been introduced. The long-term care and dementia coverage riders pay the full amount of premiums paid if canceled 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 rider that allows them to claim insurance benefits for daily caregiver fees after using a caregiver directly. The domestic helper support rider, previously only available upon disability diagnosis, has been extended to apply to long-term care and moderate dementia diagnoses as well.

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

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