Heungkuk Fire & Marine Insurance Obtains 9-Month Exclusive Use Rights for 'Dementia New Drug Treatment Cost Coverage Special Contract'

Heungkuk Fire & Marine Insurance, a financial affiliate of Taekwang Group, announced on the 19th that it has developed a special rider guaranteeing coverage for Alzheimer's treatment costs, securing a 9-month exclusive use right for the first time in the industry. This rider, which guarantees treatment costs for innovative new drugs that eliminate the root causes of dementia, is the first of its kind in the domestic insurance industry.

The rider granted exclusive use rights by the New Product Review Committee of the General Insurance Association is called ‘Targeted Dementia Drug Authorized Treatment Cost (Very Mild Dementia · Mild Alzheimer's Dementia) (Renewable 5 years)’.

Elderly people are engaged in crafting activities at the Gireum Daycare Center in Seongbuk-gu, Seoul.

Heungkuk Fire & Marine Insurance plans to launch this rider as a new product in January next year. With the exclusive use right secured, competitors will not be able to release similar riders for 9 months.

This rider covers innovative treatments such as ‘Leqembi,’ which removes the ‘amyloid beta protein,’ known as the causative substance of Alzheimer's. The insurance payout conditions are ▲diagnosis of very mild dementia (CDR 0.5 points) or mild Alzheimer's dementia and ▲confirmation of a certain level of amyloid beta protein accumulation in the brain. If these conditions are met and the treatment is administered more than seven times, a maximum of 10 million KRW will be paid for the first treatment only. This rider can also cover all future drugs with the same effect as Leqembi.

Leqembi is a drug developed by the pharmaceutical company Eisai, which effectively removes amyloid beta protein, the root cause of Alzheimer's dementia. Unlike existing dementia treatments that only slow the progression of dementia, Leqembi is regarded as an innovative drug that can fundamentally treat dementia. It is receiving significant attention because it can be applied even at the very mild dementia stage (CDR 0.5 points).

Heungkuk Fire & Marine Insurance developed this rider in collaboration with Eisai to coincide with the launch of the new drug. A Heungkuk Fire & Marine Insurance official stated, “By providing insurance coverage for innovative drugs that offer hope for Alzheimer's dementia treatment, we have enabled customers to receive tangible benefits,” and emphasized, “This product is the first in the industry to provide insurance payouts at the very mild dementia stage (CDR 0.5 points).”

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