Lotte Insurance Launches 'Let Simple Easy 345 Health Insurance'

[Asia Economy Reporter Changhwan Lee] Lotte Insurance announced on the 2nd that it will launch the insurance service (product) 'Let Simple (let:simple) Easy 345 Health Insurance,' which can be subscribed through a simple declaration.

The 'Let Simple (let:simple) Easy 345 Health Insurance,' with a maximum maturity age of 100 years, allows subscription by declaring only whether there has been hospitalization/surgery/additional examination opinions within 3 months, hospitalization/surgery (including cesarean section) within 4 years, and diagnosis/hospitalization/surgery of cancer, liver cirrhosis, or heart valve disease within 5 years.

In particular, by limiting the declaration to diagnosis/hospitalization/surgery of cancer, liver cirrhosis, or heart valve disease within 5 years, it emphasized differentiation from other easy insurance services (products) that check diagnosis/hospitalization/surgery of angina, myocardial infarction, and stroke.

The insurance premium burden for cardiovascular and cancer-related coverage, which is most needed by elderly or chronic disease patients, was also lowered compared to existing products.

For a 55-year-old male (20-year maturity, 20-year payment, grade 1 injury, type 1), the insurance premium for ischemic heart disease diagnosis III is up to 27% cheaper compared to the existing 335 product, and the insurance premium for general cancer diagnosis is up to 18% cheaper. Additionally, premium payments are waived upon diagnosis of general cancer, stroke, or acute myocardial infarction.

A Lotte Insurance official explained, “Let:simple Easy 345 Health Insurance has higher price competitiveness compared to existing easy insurance services (products),” and added, “It will help alleviate health concerns of elderly and patients with pre-existing conditions.”

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