If You Are Healthy, Your Premiums Go Down... MG Insurance Launches 'Wonderful 5! Slim Comprehensive Insurance'

MG Insurance announced on the 2nd that it has launched a new health declaration-type product, 'Wonderful 5! Slim Comprehensive Insurance,' which offers premium discounts to healthy customers.

Wonderful 5! Slim Comprehensive Insurance provides health declaration discounts based on the period if the insured passes the standard health declaration screening and has no history of ▲hospitalization or surgery ▲cancer, stroke,·or myocardial infarction in the past 6 to 10 years. For example, passing the 6-year health declaration screening qualifies the insured as a healthier preferred risk compared to the standard risk, resulting in a discount. The longer the health declaration period from 6 to 10 years, the lower the premium. Once the discount is applied, the same premium is maintained for the remaining payment period.

The 'No-Claim Conversion System' is also an advantage. Customers can enroll according to their health status and, if they maintain a no-claim record after enrollment, they can convert their contract to a cheaper insurance plan. If no hospitalization or surgery due to illness or injury, or diagnosis of the three major diseases occurs annually after enrolling as a standard risk, a premium discount is granted.

There are also premium waiver and premium waiver support riders to reduce premium burdens. Through the premium waiver, future premium payments are waived in case of cancer, injury, or 80% disability due to illness or accident. If subscribed to the premium waiver support rider, the insured amount is paid upon diagnosis of two major diseases, seven major diseases, or carcinoma in situ.

In addition to various diagnosis, surgery, and hospitalization expenses, the product is equipped with various new coverages to enhance its function as a comprehensive insurance. It allows for plans including coverage for atrial fibrillation and flutter diagnosis fees, nine major complication diagnosis fees after cancer radiation therapy, five major disease diagnosis fees after cancer radiation therapy, surgery fees for types 1 to 8, and epilepsy diagnosis fees.

An MG Insurance official said, “Although the market for insurance for those with pre-existing conditions has grown, it has been difficult to find insurance that benefits healthier individuals more. This new product is reasonable because healthier preferred risks can receive premium discounts and upgrade their coverage accordingly.”

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