iM Life Launches Dementia Care Insurance: "Coverage for Every Stage of Later Life"
32 Riders in Total
Comprehensive Coverage from Screening to Diagnosis, Treatment, Long-Term Care, and Support
iM Life is expanding its portfolio from annuity insurance to health insurance. Through the launch of dementia care insurance, the company plans to establish a coverage system that spans the entire later stages of life for its customers.
On September 1, iM Life announced the launch of the "iM Active Care Dementia Care Insurance," which provides coverage for every stage of old age—from dementia screening to diagnosis, treatment, long-term care, and support.
The product is composed of a total of 32 riders. Notably, the "Comprehensive Home Care Benefits (3 or more services) Rider" covers the financial burden incurred when utilizing three or more types of home care benefits—including home care visits, bathing assistance, nursing visits, and day and night care services. By combining this with other riders related to home care benefits, customers can receive up to 1 million won per month in coverage.
The "Long-Term Care Hospitalization Rider" provides a daily hospitalization benefit when a person with a long-term care grade is admitted to a care hospital. This aims to alleviate financial burdens that arise during the care and nursing process.
Customers can also choose from the "iM All-Care Plan," which covers everything from screening to funeral expenses, and the "Care Facility Care Plan," which focuses on the use of facilities such as day and night care centers and nursing homes.
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Chanhui Kwak, Head of Business Strategy at iM Life, stated, "As the concept of care itself is changing due to the aging population, the role of insurance should also expand beyond claim payments to helping customers prepare for every aspect of later life. We will continue to enhance our products so that coverage remains uninterrupted, no matter what care environment our customers find themselves in."
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