Lotte Insurance Launches "My Way Daily Health Insurance"… Customizable Coverage from 2,000 KRW per Month
Lotte Insurance announced on December 3 that it has launched the "FOR ME My Way Daily Health Insurance" through its lifestyle-focused insurance platform, ALICE.
The "My Way Daily Health Insurance" is a lifestyle-oriented long-term insurance product designed to allow customers to select only the coverage they need from common illnesses such as influenza, shingles, gout, and polyps.
The main coverage includes: 100,000 KRW for influenza treatment, 1 million KRW for a shingles diagnosis, 1 million KRW for a gout diagnosis, and 100,000 KRW for a polyp diagnosis. Individuals between the ages of 19 and 64 are eligible to enroll.
Traditional long-term insurance policies are typically designed as "comprehensive plans" that bundle various types of coverage, making it difficult for customers to choose only the protections they want, and often resulting in higher premiums.
In contrast, the "My Way Daily Health Insurance" allows customers to build their policy with only the coverage they select, helping them avoid unnecessary coverage.
As a result, premiums are lower compared to comprehensive products, reducing the financial burden on customers while also enhancing price competitiveness. The minimum monthly payment is 2,000 KRW. For a 40-year-old woman who enrolls in coverage for influenza, shingles, and gout, the monthly premium is approximately 2,500 KRW.
Another feature is that customers can choose their coverage period in units of 1, 3, 5, or 10 years, allowing for flexible planning based on individual lifestyle or financial circumstances.
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A representative from Lotte Insurance stated, "'My Way Daily Health Insurance' is a super-mini long-term insurance product that allows people to easily enroll for minor everyday illnesses," adding, "It offers excellent value for money, providing coverage for daily illnesses with monthly premiums in the 2,000 KRW range."
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