Heungkuk Life Insurance announced on the 1st that it has launched the '(non) Heungkuk Life Insurance 3.10.5.5 High Blood Pressure and Diabetes Plus Simple Health Insurance (No Refund Type V2)' to reduce premium burdens and enhance coverage by adding notification items for high blood pressure and diabetes.
This product features the addition of notification items for high blood pressure and diabetes within the last 5 years to the existing 3.10.5 (recent 3 months, 10 years, 5 years). This allows even customers with a history of illness to enroll at a reasonable premium based on their disease management.
If the notification items are met, premiums are reduced compared to existing easy enrollment products. If there has been no history of diabetes in the last 5 years, premiums will decrease by 4%. If there has been no history of high blood pressure, a reduction of about 7% will apply, and if there is no history of either condition, premiums can be cut by up to 10%.
Coverage has also been significantly strengthened. The new rider, 'Major Treatment Rider for Circulatory System Diseases,' has been designed to prepare for circulatory diseases such as cerebrovascular and cardiovascular conditions. In cases of surgery, intensive care unit treatment in a general hospital, or thrombus removal and dissolution treatment for these diseases, the customer will receive 10 million won once a year. Coverage is provided for both advanced general hospitals and general hospitals (excluding convalescent hospitals), allowing for a maximum of 8 insurance payouts per year.
Additionally, for renewable products, a large premium discount system is applied. If the monthly premium exceeds 80,000 won, 50% of the excess will be discounted, providing benefits of up to 8,000 won. A premium waiver rider has also been added. Customers diagnosed with cancer or any of the three major diseases, as well as one of the 18 major diseases, will be entirely exempted from paying remaining premium obligations.
Son Myun-jeong, head of product operations at Heungkuk Life Insurance, said, "This product is characterized by providing premium reduction benefits to customers who have diligently managed their high blood pressure and diabetes while also expanding the coverage range," and added, "We will continue to introduce differentiated coverage products tailored to various customer situations."