Heungkuk Fire & Marine Insurance Secures 9-Month Exclusive Rights for "Platinum Health Reset Wallet"

6-Month and 9-Month Exclusive Usage Rights Granted
for Coverage Limit Reset Structure and Remaining Value Determination Method

Heungkuk Fire & Marine Insurance announced on the 12th that its new product, the "Platinum Health Reset Wallet," has been granted an exclusive usage right by the General Insurance Association of Korea.

Heungkuk Fire & Marine Insurance has obtained an exclusive usage right for up to 9 months related to the Platinum Health Reset Wallet Insurance. Heungkuk Fire & Marine Insurance

For this product, the reset structure for coverage limits and the remaining value determination method have been granted exclusive usage rights of 6 months and 9 months, respectively.

The Platinum Health Reset Wallet is an integrated insurance product that provides coverage of up to 1 billion KRW for three major critical illnesses?cancer, cerebrovascular disease, and heart disease?as well as non-reimbursable treatment costs, hospitalization, and nursing expenses.

Even if the customer uses part of the coverage, the coverage amount is restored to 1 billion KRW at each 20-year renewal, provided there is a remaining balance.

For the first time in the industry, the product introduces a remaining value determination method, converting 30% of the unused coverage balance during the insured's lifetime into accidental death benefits. The less the coverage is used, the greater the benefit the customer receives.

The product design applies the "copula" technique, allowing customers to freely use non-reimbursable treatment items for the three major diseases (cancer, cerebrovascular, and heart diseases) within a single integrated limit.

A Heungkuk Fire & Marine Insurance representative stated, "This product goes beyond simply expanding coverage; it is designed so customers can flexibly utilize their benefits when they actually need them. By applying an innovative structure and a new risk rate calculation method for the first time in the industry, we expect to provide substantial value to both customers and the insurer."

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