Kyobo Life Launches 'Kyobo Refill Health Whole Life Insurance': "Treatment Coverage Restored Every 20 Years"

Repeated Coverage for Cancer, Brain, Heart, and Dementia Treatment Costs
Death Benefit Increases Up to 160%

KYOBO Life Insurance announced on August 26, 2026, that it has launched the "Kyobo Refill Health Whole Life Insurance," a product that significantly reinforces coverage for the four major critical illnesses and replenishes treatment coverage limits every 20 years.

The most prominent feature of this product is the introduction of the "Health Account," a dedicated account for treatment expenses. While existing insurance products paid a one-off benefit upon diagnosis of a specific disease, this product provides repeated coverage once a year for each of the four major critical illnesses—cancer, brain, heart, and dementia—within the Health Account limit, which is set at 10 times the main policy coverage amount. For dementia, coverage is provided per treatment session.

In particular, after 20 years from enrollment, the used Health Account limit is restored to the original level at the time of enrollment. For instance, if the Health Account limit was set at 1 billion won upon enrollment (based on a coverage amount of 100 million won), even if the full limit is used up for treatment costs, the coverage limit is restored to 1 billion won after 20 years. This structure enables effective preparation for the financial burden of repeatedly recurring treatment costs for major illnesses over the long term.

In terms of core coverage, based on a main policy coverage amount of 100 million won, the annual benefits include: ▲ Major cancer treatment (general cancer, other skin cancers, thyroid cancer: 30 million won once per year), ▲ CAR-T anti-cancer drug authorized treatment (50 million won once per year), ▲ Major treatment for brain and cardiovascular diseases, as well as thrombectomy/thrombolysis treatments (20 million won each, once per year). For authorized targeted dementia treatments, coverage is up to 25 million won.

In addition to health coverage, the pure whole life insurance death benefit is further enhanced. Through the "Death Benefit Increment Bonus," where the death benefit increases by 10% of the coverage amount annually depending on the premium payment period, policyholders can receive up to 160% of the original coverage amount as a death benefit. In the event of accidental death, an additional accident death benefit equivalent to 10% of the remaining Health Account limit at the time will be paid in addition to the ordinary death benefit.

Customers can receive insurance benefits as a lump sum, or in monthly installments (up to 60 times) or annual installments (up to 20 years). After the premium payment period ends, customers can also choose either a "long-term care conversion" or a "pension conversion," allowing the policy to be used for long-term care expenses or living costs in retirement, according to their needs.

The product is available to applicants aged 15 to 65. Customers can choose premium payment terms of 5, 10, 15, or 20 years. For policies with a main coverage amount of 50 million won or more, a variety of health care management services—such as daily health care, intensive disease care, and major disease care—are provided through the "Kyobo New Health Care Service."

A KYOBO Life Insurance representative stated, "With the Health Account that is replenished every 20 years, the increasing death benefit, and a variety of conversion options, this product will serve as a customized lifetime health whole life insurance—providing solid treatment coverage while the policyholder is alive, and supporting surviving family members thereafter."

Meanwhile, KYOBO Life Insurance also introduced the "Kyobo Easy Refill Health Whole Life Insurance" designed for customers with pre-existing conditions and elderly clients. Applicants can enroll as long as they meet the following three simplified requirements: ▲ No definitive diagnosis/suspected findings, hospitalization, surgery, or further examination required due to disease within the past three months ▲ No hospitalization or surgery due to disease or accident within the past five years ▲ No diagnosis, hospitalization, or surgery in the past five years due to cancer, angina, myocardial infarction, liver cirrhosis, stroke (cerebral hemorrhage or infarction), or chronic renal disease requiring dialysis.

The easy enrollment type also guarantees benefits such as the 20-year cycle Health Account replenishment structure, increasing death benefit, and an additional 10% of the remaining Health Account limit paid in case of accidental death. For policies with a main coverage amount of 50 million won, the "Kyobo New Health Care Service" assists with tailored health management for clients with existing health conditions.

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