Hanwha Life said on the 29th it obtained a six-month exclusive-use right from the Korea Life Insurance Association's new product review committee for three new male-coverage riders.
The riders granted exclusive-use rights total three: the covered specific PSMA PET examination expense support rider, the covered infertility sperm retrieval support rider, and the covered specific male infertility surgery rider, characterized by filling coverage gaps in prostate cancer and male infertility.
All of the riders were added to the Ace H indemnity insurance on the 15th of last month. In particular, the PSMA PET examination expense support rider was also added to the Signature H cancer insurance.
These riders were recognized as useful because they go beyond diagnosis and hospitalization-focused coverage to protect specific medical procedures that patients face in the actual course of treatment.
The covered specific PSMA PET examination expense support rider provides coverage once a year for PSMA PET, a next-generation new medical technology used for determining prostate cancer diagnosis and treatment decisions. The PSMA PET scan can diagnose even micro-metastases that are difficult to detect with conventional CT or MRI, greatly improving treatment accuracy. When purchased together with heavy ion radiotherapy currently on sale and diagnosis of metastatic castration-resistant prostate cancer, policyholders can receive systematic coverage for prostate cancer.
In addition, the covered infertility sperm retrieval support rider provides coverage once a year when sperm retrieval and processing covered procedures are performed during assisted reproductive technology due to male-factor infertility. As the industry's first coverage for male infertility factors, it reduces the expense burden arising during assisted reproductive procedures and encourages men to actively participate in infertility treatment.
The covered specific male infertility surgery rider provides a one-time coverage benefit for the first covered specific male infertility surgery received due to infertility, such as varicocelectomy and vasovasostomy. It is evaluated as coverage that goes beyond the limitations of existing infertility insurance focused on women to encompass treatment of the fundamental causes of infertility for men.
Lee Sang-hee, head of product development at Hanwha Life, said, "Through the riders granted exclusive-use rights this time, we are now able to support prostate cancer and male infertility, areas where insurance coverage has been insufficient despite high social demand. In particular, the PSMA PET scan has high utility, contributing to improved treatment effectiveness by optimizing treatment plans for prostate cancer, the No. 2 cancer by incidence among men."