NH Nonghyup Life Launches 'Essential NH New Medical Coverage Insurance' Guaranteeing New Technology Treatment Expenses

[Asia Economy Reporter Changhwan Lee] NH Nonghyup Life announced on the 8th that it has launched a new product, 'Essential NH New Medical Coverage Insurance (renewable, non-participating),' which guarantees treatment costs in line with the evolution of medical technology.

The new product is characterized by coverage of advanced medical technology treatment costs. It covers treatment technologies with high cost burdens but relatively easy treatment and recovery in case of serious diseases, such as Da Vinci robot cancer surgery, High-Intensity Focused Ultrasound (HIFU) treatment, Extracorporeal Membrane Oxygenation (ECMO) treatment, and therapeutic hypothermia methods.

The main contract also covers general death and accidental death. For general death, it guarantees KRW 60 million, and for accidental death, KRW 30 million (based on a main contract subscription amount of KRW 10 million). In case of death due to an accident, an additional accidental death insurance benefit is paid on top of the general death insurance benefit, totaling KRW 90 million.

The main contract also covers death benefits caused by specific infectious diseases that may occur during outdoor activities, including COVID-19. If death occurs due to a specific infectious disease, an additional KRW 10 million will be paid.

Through a simplified underwriting type, people with pre-existing conditions or elderly individuals can also subscribe. If none of the following three questions apply: △ hospitalization, surgery, or additional examination recommendations within the last 3 months △ hospitalization or surgery (including cesarean section) within the last 2 years △ diagnosis, hospitalization, or surgery for cancer, cirrhosis, angina, myocardial infarction, or stroke (cerebral hemorrhage/cerebral infarction) within the last 5 years, then one can subscribe to this product.

The subscription age ranges from 15 to a maximum of 73 years old. It is a 20-year renewable type and can be renewed up to 100 years old. The insurance subscription amount can be from KRW 5 million up to KRW 10 million in units of KRW 2.5 million. For a 40-year-old general subscriber with a 20-year payment period and a main contract of KRW 10 million, the premium is KRW 27,590 for males and KRW 15,534 for females.

Kim Intae, CEO of NH Nonghyup Life, said, "We have launched this product by gathering new coverages that fill the insurance blind spots in line with continuously advancing medical technology," adding, "We will continue to release customer-oriented products with strong coverage so that even if diagnosed with a serious disease, customers can focus on treatment through insurance."

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