Meritz Fire & Marine Insurance Obtains Exclusive Usage Rights for Two Coverages Including 'Jibanggan Disease Management Support Fund'

[Asia Economy Reporter Changhwan Lee] Meritz Fire & Marine Insurance announced on the 1st that it has obtained a 3-month exclusive usage right for two coverages, ‘Jibanggan Disease Management Support Benefit’ and ‘Integrated Cancer Diagnosis Benefit (excluding similar cancers),’ recognized for originality, usefulness, advancement, and effort.

The ‘Jibanggan Disease Management Support Benefit’ was introduced for the first time in the industry to prevent the risk of severe diseases such as cirrhosis and hepatocellular carcinoma, which have a high probability of developing later due to fatty liver, which has been rapidly increasing recently along with obesity. It reflects the social awareness change that the risk and prevention of fatty liver, previously considered mild, are more important than ever.

This coverage provides benefits upon diagnosis of fatty liver accompanied by elevated liver enzyme levels. It is subdivided into cases diagnosed with fatty liver accompanied by liver enzyme levels of 80 IU/L or higher and those with 200 IU/L or higher, with insurance payouts made accordingly.

The ‘Integrated Cancer Diagnosis Benefit (excluding similar cancers)’ was developed as a new form of coverage, not previously offered in the industry, addressing insurance consumers’ concerns about the risk of secondary cancer occurrence.

By analyzing statistics such as 5-year relative cancer survival rates and cancer claim proportions, cancer diagnosis benefits were subdivided into five categories based on cancer types with relatively similar statistics, and insurance payouts are made once per category, up to a maximum of five times.

Most existing cancer diagnosis benefits terminate the contract once a cancer diagnosis payout is made, so even if another cancer diagnosis is received later, coverage is not provided. In contrast, this coverage allows up to four additional payouts for subsequent cancer diagnoses in different categories after the initial cancer diagnosis payout.

A Meritz Fire & Marine Insurance official stated, “The Jibanggan Disease Management Support Benefit is part of efforts to contribute to reducing social costs through preventive product development based on medical evidence,” adding, “The Integrated Cancer Diagnosis Benefit (excluding similar cancers) is significant in that it presents a new paradigm in cancer insurance through a coverage method that did not exist before.”

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