Heungkuk Life, Launches (Non-)Heungkuk Life Dementia Care Love Protection Insurance

[Asia Economy Reporter Changhwan Lee] Heungkuk Life Insurance announced that it will start selling the ‘(Non-Participating) Heungkuk Life Dementia Care Love Insurance,’ which focuses on coverage from the early stage of dementia, mild cognitive impairment, starting from the 1st.

Unlike existing dementia insurance that mainly focuses on severe dementia coverage, this product strengthens coverage from mild cognitive impairment, which has the highest incidence rate.

First, upon diagnosis of mild cognitive impairment, a dementia prevention program worth 1 million KRW is provided (when subscribing to the (Non-Participating) Mild Cognitive Impairment Coverage (Dementia Prevention Program) rider). This is the first time an insurance company offers a dementia prevention program.

The dementia prevention program is provided through the SuperBrain program by Rowan, a digital therapeutics development company. This program offers various training programs that stimulate the brain of dementia patients by performing multiple tasks via an app, including AI-based customized training, aiming to delay the progression from mild cognitive impairment to severe dementia as much as possible.

Based on dementia diagnosis opinions, if a ‘covered CT or MRI’ scan is performed, up to 100,000 KRW of examination fees are covered, and when prescribed covered dementia medication, treatment benefits up to 300,000 KRW are guaranteed.

The diagnosis benefit has also been significantly strengthened. Up to 10 million KRW is covered for mild and moderate dementia diagnoses respectively, and for severe dementia, up to 20 million KRW of diagnosis benefits are provided through a rider. In the case of severe dementia diagnosis, a monthly living expense of 1.5 million KRW (initially for 36 months, lifelong payment) can also be guaranteed.

A representative from Heungkuk Life Insurance’s product development team said, “As society rapidly ages, thorough preparation for elderly diseases such as dementia has become an essential factor,” and added, “We hope this product will help customers prevent dementia from the early stages.”

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