Mirae Asset Life Insurance's 'M-Care Dementia Nursing Insurance,' which allows individuals to prepare for both dementia care and medical expenses in old age, is gaining attention. This product is characterized by its coverage from the early stages of dementia (mild cognitive impairment) to moderate and severe dementia.
According to Mirae Asset Life Insurance on the 27th, those who enroll in this product can choose to receive insurance benefits in a lump sum or monthly payments upon a dementia diagnosis. If hospitalization is necessary, costs for using a nursing caregiver and integrated nursing and care services during the hospital stay will also be covered. Costs for outpatient visits, tests, and medication related to dementia are also supported, alleviating financial burdens.
Coverage is also extensive for those receiving long-term care grade evaluations. When diagnosed for long-term care from grade 1 to cognitive support grade, individuals can choose either a lump sum or monthly payment. Facility care benefits and home care benefits are also covered separately. Additionally, day and night protection services are provided, reducing the practical burden on clients who need caregiving.
In addition to dementia and long-term care, policyholders can choose to enroll in supplemental coverage for seniors related to illnesses and accidents. If caregiving is required due to an illness or injury, hospitalization costs for using a nursing caregiver and integrated nursing and care services are each covered for up to 180 days.
Particularly, common ailments in later life, such as cataract and glaucoma surgeries, artificial joint replacements, diagnoses of severe knee cartilage damage, and diagnoses of fractures due to accidents can also be covered. Supplemental coverage for shingles and gout diagnoses is included, providing seniors with substantial assistance.
The product can be selected with options for 90 years, 95 years, or lifetime maturity. The maximum enrollment age is 75 years. However, monthly payment, home care benefits, facility care benefits, and day and night protection coverage can be subscribed to with a maturity age of up to 100 years. Monthly payment coverage and home and facility care benefits, along with day and night care coverage, are also available up to age 100.
As society moves beyond the age of 100 toward the age of 120, interest in such products is intensifying. As the population ages, the risk of chronic diseases such as dementia also increases, and the accompanying caregiving burden is emerging as a societal issue. As life expectancy extends, the factors determining the quality of life in old age are not just longevity, but living healthily for a long time.
Consequently, preparing for longevity risk in an era of living longer with illnesses has become a necessity. Dementia, in particular, imposes both financial and emotional burdens not only on individuals but also on families; without prior preparation, the stability of life in old age can be jeopardized.
Oh Sang-hoon, head of product development at Mirae Asset Life Insurance, noted, 'M-Care Dementia Nursing Insurance is designed as a one-stop coverage product that addresses various needs required by senior clients, including dementia and long-term care.' He also stated, 'We will continue to enhance the competitiveness of our products so that customers can enjoy extensive coverage without financial burdens.'