ABL Life Launches 'DIY ABL THE Health Integrated Insurance' with Customizable Plans

[Asia Economy Reporter Changhwan Lee] ABL Life announced on the 4th that it has launched the ‘DIY (Non-Participating) ABL THE Health Integrated Insurance (Renewable)’ which allows customized health and death coverage design by selecting various riders focusing on accidental death.

This product is based on the 'DIY (Do It Yourself)' concept, where customers can design coverage by selecting only what they need. The main contract focuses on accidental death coverage, and customers can choose the renewal period and simplified underwriting type considering their age, medical history, and financial situation.

If customers design the product focusing on cancer coverage, they can prepare comprehensively for cancer including minor cancer, general cancer diagnosis fees, chemotherapy drug treatment costs, radiation therapy costs, cancer surgery benefits, and targeted anticancer drug treatment costs.

If configured mainly for brain and heart diseases, broad coverage is possible including diagnosis and re-diagnosis depending on the severity of cerebrovascular and cardiovascular diseases. Additionally, coverage for hospitalization, surgery, general death, accidental and disease-related disability can be added.

Customers with pre-existing conditions or elderly customers who find it difficult to join general underwriting products can choose the ‘simplified underwriting type’ if they have no history of hospitalization, surgery, or additional examination recommendations within the last 3 months, no hospitalization or surgery due to illness or accident within the last 2 years, and no cancer diagnosis, hospitalization, or surgery history within the last 5 years, enabling them to subscribe to the product.

Depending on the financial situation, customers can select the renewal period among 10, 20, or 30 years renewable types to adjust the initial premium level, and coverage is available up to age 100.

The subscription age ranges from 15 to 80 years old, the insurance amount for the main contract ranges from 1 million KRW to 4 million KRW, and the optional riders range from 5 million KRW up to 100 million KRW.

Eun Jaekyung, Head of Product & Marketing at ABL Life, said, “‘DIY (Non-Participating) ABL THE Health Integrated Insurance (Renewable)’ not only allows customers to prepare for their own health risks based on family history and lifestyle but also expands choices by adding renewal periods and simplified underwriting options. We hope that through this product, customers can reduce the burden of diseases in the era of longevity and pursue ‘A Better Life.’”

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