Samsung Life Insurance Revises and Launches 'New Plus One Health Insurance'... Introduces Seven-Year Premium Option and Product Diversification

On August 12, Samsung Life Insurance announced that it has revised its flagship health insurance product, the “Samsung New Plus One Health Insurance,” and is launching an enhanced version with expanded coverage and services called the “Samsung Platinum Plus One Health Insurance.”

The most notable feature of this revision is the introduction of a seven-year premium payment term. Until now, health insurance policies generally required long-term premium payments of at least ten years. Samsung Life Insurance recognized a strong demand among pre-retirees who prefer to complete all premium payments while they still have income and retain only coverage afterwards. To address this, the company has added a seven-year payment term to the existing options of 10, 15, 20, and 30 years, thus easing the burden of long premium payment periods.

To allow customers to choose a product aligned with their desired level of coverage, the product lineup has also been diversified. While retaining the strengths of the existing “New Plus One Health Insurance,” the company has newly launched the “Platinum Plus One Health Insurance” for customers seeking broader coverage and services.

Both products feature twelve health coverage riders, such as the “Comprehensive Cancer Treatment (General Hospital or Higher) Rider,” “Comprehensive Major Circulatory Disease Treatment (General Hospital or Higher) Rider,” and the “Premium Class II Early Intensive Cancer Major Treatment Coverage (Advanced General Hospital Plus) Rider,” all of which were popular in the first half of this year. In particular, the Platinum Plus One Health Insurance strengthens coverage for three major critical illnesses by adding the “Comprehensive Cancer III Diagnosis Rider,” “Cerebral Hemorrhage Diagnosis Rider,” and “Acute Myocardial Infarction Diagnosis Rider.”

The company has also introduced a new indemnity rider called the “Cancer Post-Diagnosis Cancer Screening Support Rider,” which provides, in lieu of an insurance payout, a voucher for cancer screening appointments if the insured wishes after receiving a cancer diagnosis. The coverage has been expanded not only to the policyholder but also to their family members. Samsung Life Insurance explained that, as concerns about family history of cancer remain high after treatment, this rider offers an opportunity to proactively assess cancer risk in advance.

A Samsung Life Insurance representative stated, “‘New Plus One Health Insurance’ has continued to evolve by consistently reflecting customer feedback since its launch,” adding, “With these revisions, customers can now directly choose their desired level of coverage.” The representative further remarked, “We will continue to strengthen our product competitiveness, covering both health and asset management after retirement.”

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