Lina Life 'Targeted Therapy Cancer Insurance' Available at Shinhan Bank SOL
Published 07 Dec.2020 10:59(KST)
Available for Enrollment Not Only at Bank Branches
But Also via Mobile
[Asia Economy Reporter Ki Ha-young] LINA Life Insurance announced on the 7th that it will launch the '(Non) Cancer Worry-Free Targeted Therapy Cancer Insurance (Renewable)' guaranteeing expensive targeted anticancer drug treatments through Shinhan Bank's mobile platform SOL. Customers can now subscribe to the product not only at bank branches but also via mobile.
The (Non) Cancer Worry-Free Targeted Therapy Cancer Insurance (Renewable) covers cancer diagnosis fees, anticancer radiation therapy, existing anticancer drug treatments, as well as 'targeted anticancer drug approved treatments.' Last December, LINA Life Insurance became the first in Korea to launch the targeted anticancer drug approved treatment special contract (renewable) and obtained exclusive usage rights for six months.
Targeted anticancer drug approved treatment attacks only cancer cells, significantly reducing side effects, making it a highly preferred treatment method among patients. However, due to the relatively high cost, many patients give up on the treatment.
Accordingly, the (Non) Cancer Worry-Free Targeted Therapy Cancer Insurance (Renewable) provides coverage up to 50 million KRW for targeted anticancer drug approved treatments to reduce patients' financial burden. Additionally, it offers coverage for cancer diagnosis fees, anticancer radiation therapy, and anticancer drug treatments.
When subscribing to the premium plan, the insurance premium for a 40-year-old male is 23,400 KRW and for a female is 27,900 KRW, based on a 20-year payment period. By choosing the practical plan available from age 41, customers can receive basic coverage at a relatively lower premium.
The product is available with 10- or 20-year maturity options for ages 30 to 60 (based on the premium plan with a 20-year payment period), and coverage can be renewed up to age 100.
A LINA Life Insurance representative said, "Through Shinhan Bank's mobile app, we are introducing six products, the most among insurance companies, including the '(Non) Cancer Worry-Free Targeted Therapy Cancer Insurance (Renewable).'" He added, "With 24-hour non-face-to-face subscription available, customers can access LINA Life's excellent coverage product lineup without visiting branches even during COVID-19."
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