DB Life Insurance Secures Exclusive Use Right for "Long-Term Care Plus Protection Rider"

On March 5, DB Life Insurance announced that it has secured a six-month exclusive use right for its "Long-Term Care Plus Protection Rider," the industry's first rider to guarantee severe diagnosis benefits in the event of an upgrade in long-term care grades.

The exclusive use right is a system granted by the Korea Life Insurance Association, which gives a life insurance company a certain period of exclusive sales rights for developing a new risk coverage, an original benefit structure, or a unique service.

This new rider introduces a structure that pays insurance benefits if a policyholder, after initially being classified as long-term care grades 2 through 5, experiences a worsening of symptoms resulting in an upgrade to a higher grade within the long-term care reclassification guarantee period. This addresses the concerns policyholders may have had with the previous stair-step guarantee structure and has been highly rated for providing consumers with more substantial protection benefits.

DB Life Insurance stated, "We developed this rider to provide a practical solution to customer concerns about long-term care and the progression of symptoms in the era of an aging population. We will continue to introduce innovative products that are essential at every stage of our customers' lives."

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