Samsung Life Insurance (032830.KS) said on the 15th that it will launch the "Samsung Senior Signature Health Insurance," which strengthens coverage for dementia, brain diseases, and joint diseases in line with Korea's entry into a super-aged society.
The product is designed to broadly cover major health risks for senior customers by adding brain disease and joint disease coverage to the dementia and long-term care (LTC) coverage of the existing "Samsung Well-Aging Health Insurance."
To strengthen dementia treatment coverage, the company introduced the "Integrated Targeted Dementia Treatment Coverage Rider" for the first time in the industry, which covers treatment with the targeted dementia drug "Leqembi" as well as ARIA-H (cerebral hemorrhage) side effects that may occur during the treatment process. Dementia symptoms are also subdivided into mild-or-higher, moderate-or-higher, and severe to enhance the completeness of coverage.
Cerebrovascular disease, stroke, and cerebral hemorrhage, which are highly associated with dementia, are also covered through riders. Joint disease coverage has also been expanded. The company created the "Specific Joint Disease and Injury Coverage Rider," which covers examination, diagnosis, treatment, and surgery, as well as artificial joint replacement and re-replacement surgery. Coverage has been broadened around major joint diseases that frequently occur in the senior population, such as those of the knee, shoulder, wrist, and ankle.
The company also lowered the premium burden. It applied a no-surrender-value structure with reduced premiums, under which premiums are concentrated during the economically active period and the payment burden is reduced after retirement. If the contract is terminated during the premium payment period, there is no surrender refund, but premiums are lowered accordingly.
In addition, the company operates general disclosure, health disclosure, and simplified disclosure types together, allowing customers to enroll according to their health condition.
"The importance of comprehensive coverage that prepares for dementia progression mitigation treatment, side effects, and lifestyle diseases together is growing," a Samsung Life official said. "We plan to continue expanding our product lineup to respond to the super-aged society going forward."
