"Chronic Diseases Also Covered"... KB Insurance Launches 'KB High Blood Sugar Customized Simple Health Insurance'

Eligible for Enrollment Without Chronic Diseases
Even with Additional Disclosure of Hypertension, Diabetes, and Hyperlipidemia
Insurance Premiums About 10% Lower Than Existing Products

KB Insurance announced on August 11 that it has newly launched the 'KB High Blood Sugar Customized Simple Health Insurance.'

This product is a tailored insurance plan designed for healthy customers with pre-existing conditions who do not have chronic diseases such as hypertension, diabetes, or dyslipidemia (hyperlipidemia).

The company has introduced seven new disclosure types related to hypertension, diabetes, and hyperlipidemia in its insurance for customers with pre-existing conditions. Customers can choose and enroll in the optimal product that matches their health status.

The insurance premium is up to approximately 10% lower compared to the company's '3.5.5 Simple Health Insurance.' Coverage is also provided for diagnosis of hypertension, diabetes, and hyperlipidemia.

Specifically, the obligation to disclose information prior to contract signing for existing products now includes the three chronic diseases: hypertension, diabetes, and hyperlipidemia.

The previous disclosure requirements included: ▲ whether the customer has been diagnosed, treated, hospitalized, or undergone surgery for a disease within the past three months ▲ whether the customer has been hospitalized or undergone surgery within the past five years ▲ whether the customer has been diagnosed with any of the seven major diseases (cancer, myocardial infarction, stroke, angina, heart valve disease, liver cirrhosis, or chronic kidney disease requiring dialysis) within the past five years.

The additional disclosure types are subdivided into a total of seven categories: hypertension, diabetes, hyperlipidemia, hypertension·diabetes, hypertension·hyperlipidemia, diabetes·hyperlipidemia, and hypertension·diabetes·hyperlipidemia. Customers must disclose whether they have been hospitalized, undergone surgery, received treatment for more than seven days, or taken medication for more than 30 days for these conditions within the past five years.

Typically, insurance for customers with pre-existing conditions eases enrollment requirements but makes it difficult to obtain coverage for chronic diseases. However, the new product from KB Insurance allows customers to enroll for coverage related to hypertension, diabetes, and hyperlipidemia as long as they only disclose the additional chronic diseases and do not have those specific conditions.

The eligible age for enrollment is from 15 to 90 years old. Coverage can be automatically renewed every 10, 15, 20, or 30 years, up to age 110, and customers can also choose plans with maturity at ages 90, 95, or 100. Customers can also opt for a low-cost, non-refund type product depending on their preferences.

Yoon Heeseung, Head of the Long-term Insurance Product Division at KB Insurance, stated, "This new product goes beyond simply lowering the enrollment barrier for customers with pre-existing conditions. It is designed to provide the optimal customized coverage and reasonable premiums according to each individual's health status. In an era of longevity with pre-existing conditions, it will be the optimal product for healthy senior customers with no chronic diseases."

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