[AKyung Hit Product] Reduced Premium Burden During Exemption Period... Hanwha Life 'Signature Cancer Insurance'

Each Cancer Coverage Option Can Be Freely Selected

[Asia Economy Reporter Minwoo Lee] Hanwha Life has launched a representative cancer insurance product that allows policyholders not to pay premiums during the exemption period and strengthens coverage for various treatment costs.

Hanwha Life's flagship cancer insurance product, the 'Signature Cancer Insurance,' is gaining popularity. This product is the industry's first to introduce the 'No Premium Payment System during the Cancer Exemption Period.' For certain special contracts with a cancer exemption period, premiums do not need to be paid for 90 days. Until now, all cancer insurance policies had a 90-day exemption period, but premiums had to be paid continuously.

Additionally, reflecting the current trends in cancer care, the product moves away from traditional diagnosis-centered cancer insurance to enhance coverage for carcinoma in situ and treatment costs focused on new medical technologies. Ten new special contracts and 14 risk rates related to cancer prevention, such as 'Magnetic Resonance Imaging (MRI)' and 'Positron Emission Tomography (PET) scans,' as well as treatments like 'Da Vinci robotic surgery,' have been newly developed. This allows policyholders to receive benefits while preventing cancer before onset. Furthermore, coverage limits for small cancers and carcinoma in situ, which have seen increased diagnosis rates compared to general cancer, have been expanded up to 70 million KRW. Coverage limits for treatment costs such as chemotherapy, radiation therapy, targeted drug therapy, as well as surgery, hospitalization, and outpatient care have also been increased.

Notably, the product's strength lies in separating cancer coverage, which was previously bundled into a single main contract or special contract and could not be subscribed to individually, allowing customers to freely choose coverage. It is divided into general cancer, carcinoma in situ, stage 4 cancer, and nine types of site-specific cancers, enabling customers to add only the coverage they need.

Sung Yoon-ho, Head of Product Development at Hanwha Life, said, "Hanwha Life Signature Cancer Insurance significantly expands the scope of cancer coverage, which was previously limited to diagnosis, to include prevention, diagnosis, post-treatment, rehabilitation, and caregiving." He added, "We will continue to develop products that can alleviate customers' concerns about various diseases."

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