Hanwha Life Insurance Secures Exclusive Rights for Three New Male Coverage Riders

Hanwha Life Insurance announced on September 29 that it has 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 newly approved exclusive riders are: ▲ the PSMA PET Scan Coverage Rider for Specific Benefits, ▲ the Infertility Sperm Retrieval Coverage Rider for Specific Benefits, and ▲ the Male Infertility Surgery Coverage Rider for Specific Benefits. These three riders are designed to fill coverage gaps in the areas of prostate cancer and male infertility.

All of these riders have been included in the "Ace H Coverage Insurance" since August 15. The PSMA PET Scan Coverage Rider has also been added to the "Signature H Cancer Insurance."

These riders have been recognized for their usefulness, as they go beyond simple diagnosis and hospitalization coverage to guarantee specific medical procedures that patients actually face during the treatment process.

The PSMA PET Scan Coverage Rider for Specific Benefits covers one PSMA PET scan per year, a next-generation advanced medical technology used in the diagnosis and treatment planning of prostate cancer. The PSMA PET scan can detect micro-metastases that are difficult to identify with conventional CT or MRI, significantly improving treatment accuracy. When combined with existing coverage for carbon ion radiation therapy and metastatic castration-resistant prostate cancer diagnosis, policyholders can receive comprehensive protection for prostate cancer.

The Infertility Sperm Retrieval Coverage Rider for Specific Benefits provides coverage once a year if a man undergoes sperm retrieval and processing as a covered procedure during assisted reproductive technology due to male infertility. As the first coverage in the industry addressing male infertility factors, it reduces the financial burden incurred during assisted reproductive procedures and encourages active participation of men in infertility treatment.

The Male Infertility Surgery Coverage Rider for Specific Benefits covers the first occurrence of specific male infertility surgeries, such as varicocelectomy and vasovasostomy, performed due to infertility. This coverage goes beyond the female-centric limitations of existing infertility insurance, offering comprehensive protection that includes fundamental treatment of male infertility causes.

Lee Sanghee, head of product development at Hanwha Life Insurance, stated, "With these newly approved exclusive riders, we are now able to support areas such as prostate cancer and male infertility, where there is high social demand but insufficient insurance coverage." He added, "The PSMA PET scan is highly useful, as it contributes to improving treatment outcomes by optimizing treatment plans for prostate cancer, which has the second-highest incidence among male cancers."

Meanwhile, with this acquisition of exclusive use rights, Hanwha Life Insurance has secured six out of the nine exclusive rights registered in the life insurance industry this year, achieving a remarkable record in the competition for product innovation.

This content was produced with the assistance of AI translation services.