Shinhan Cooperative Association is expanding its insurance products to cover injuries, dementia care, and treatment costs for major diseases such as cancer.
On November 12, the association announced the launch of a new insurance product and revisions to three existing products.
The newly introduced 'Non-Dividend Shinhan Integrated Injury Coverage' provides coverage from diagnosis to examination, treatment, and rehabilitation for injuries. It offers varying diagnostic fees based on the severity of the injury, ranging from minor injuries like sprains and bruises to severe injuries such as fractures, ligament damage, and amputations.
Coverage also includes MRI and CT scans, cast treatments, severe trauma treatment, and rehabilitation therapy. The accumulated insurance premium will earn a guaranteed interest rate of 3.5% annually, with the accumulated amount paid out at maturity.
The existing 'Non-Dividend Shinhan Plus Dementia Care Insurance' has enhanced its coverage for new dementia drug treatments and long-term care. It now covers costs for targeted dementia medication, MRI, CT, and PET scans related to dementia, as well as clinical dementia assessment scale (CDR) testing.
An additional rider has been included to cover the costs of day and night care services for long-term care recipients, as well as expenses for purchasing or renting welfare equipment. Shinhan has introduced a total of seven new riders to help alleviate the financial burden associated with dementia treatment and care.
The 'Non-Dividend Shinhan Major Disease Treatment Coverage' for cancer, cerebrovascular diseases, and ischemic heart disease has expanded its coverage for targeted cancer drug treatments. The actual coverage and payout amounts will vary based on the selected riders and the terms of the policy.
Kwon Na-yeon, head of the Insurance Planning Division at Shinhan Cooperative Association, stated, "The launch and revision of these products are in response to changing coverage demands. We will continue to develop products that consider customers' coverage needs throughout their life cycles."
* This article has been translated by AI.
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