Samsung Life has introduced a new 7-year premium option for its flagship health insurance, allowing policyholders to receive death benefits in the form of annuities while still alive.
On August 12, Samsung Life announced that it will begin selling the revised 'Samsung New Plus One Health Insurance' alongside the expanded 'Samsung Platinum Plus One Health Insurance' starting August 13.
The most notable feature of this revision is the addition of the 7-year premium option. This new choice expands options for customers looking to pay off their premiums early before retirement, in addition to the existing 10, 15, 20, and 30-year premium plans.
The products have been divided based on coverage levels. While maintaining the key protections of the existing New Plus One Health Insurance, the new Platinum Plus One Health Insurance is aimed at customers seeking broader coverage.
Both products include 12 health coverage special clauses, such as integrated cancer treatment and major circulatory disease treatment. The Platinum Plus One Health Insurance also adds special clauses for integrated cancer diagnosis, brain hemorrhage diagnosis, and acute myocardial infarction diagnosis, enhancing coverage for the three major critical illnesses: cancer, brain, and heart.
Additionally, the Platinum Plus One Health Insurance will implement a 'pre-payment conversion system for death benefits' that has been used in whole life insurance. Under certain conditions, policyholders can receive a portion of their death benefits as monthly annuity payments after retirement. This option is available for a one-time application only.
The health management services have also been expanded. New offerings include consultations for nursing facility admissions, delivery of health recovery meals, and preferential genetic testing for cancer and dementia for family members.
A new 'Cancer Diagnosis Support for Screening Examination' clause allows customers diagnosed with cancer to choose a screening examination reservation instead of receiving insurance benefits. This support is available not only for the policyholder but also extends to their family members.
* This article has been translated by AI.
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