Hanwha Life Expands Coverage for Assistive Device Costs for People with Disabilities, Wins Exclusive-Use Rights

Hanwha Life said on November 13 that it had received a six-month exclusive-use right from the Korea Life Insurance Association for its “Assistive Device Support Benefit Rider.”

The rider granted the exclusive-use right is the “Assistive Device Support Benefit Rider (Once a Year).” It pays insurance benefits when a customer who becomes disabled and is registered as a person with a disability during the policy period uses an assistive device covered by National Health Insurance or Medical Aid. Coverage is provided up to once a year for the use of devices under each program.

The government helps cover the cost of purchasing various assistive devices, such as wheelchairs and hearing aids, through National Health Insurance and Medical Aid. However, benefit limits and service life periods are set for each type of device, so customers may have to pay out of pocket when making a purchase. Additional costs may also arise for repairs or replacements during use.

Hanwha Life developed the rider to address these limitations in public support. It is designed to ease the financial burden of purchasing assistive devices by paying insurance benefits when they are used.

Compared with existing coverage focused on assistive products under long-term care insurance for older adults, the rider expands the range of eligible users and covered items. Long-term care assistive products are primarily available for 25 items to people aged 65 or older who have been assessed as eligible for long-term care, whereas benefits for assistive devices for people with disabilities cover 96 items for registered persons with disabilities, regardless of age.

A Hanwha Life product development team official said, “We developed this rider by taking into account the expenses customers may still face after receiving public support, so they can prepare for unexpected situations.” The official added, “We will continue to respond carefully to customers’ diverse risks and offer products that remain true to the fundamental role of insurance.”

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