Samsung Life Insurance has introduced a 7-year premium payment plan and launched an expanded version of its flagship health policy, offering greater flexibility and enhanced protection against major illnesses starting August 13.
Samsung Life Insurance said on August 12 it will add a 7-year premium payment option to its flagship health policy and roll out a more expansive version of the product from August 13, giving customers more flexibility to finish paying before retirement and choose a higher level of cover.
The revised Samsung New Plus One Health Insurance keeps its existing core benefits, while the newly launched Samsung Platinum Plus One Health Insurance is aimed at buyers who want broader protection. According to Samsung Life, the Platinum version adds cover for integrated cancer diagnosis, brain haemorrhage diagnosis and acute myocardial infarction diagnosis, strengthening protection against three major serious illnesses.
Both products include 12 health-related riders, covering items such as combined cancer treatment and comprehensive circulatory disease treatment. Samsung Life also said the Platinum plan introduces a death-benefit advance payment conversion system, a feature previously used in its whole-life policies, which can allow policyholders who meet certain conditions to receive part of the death benefit as a monthly pension after retirement. The option can be used only once.
The company is also widening its health management services. Those now include consultations for nursing facility admission, delivery of recovery meals and preferential genetic testing for cancer and dementia for family members. It has also created a cancer screening support rider that lets customers choose a screening reservation voucher instead of a payout after a cancer diagnosis, with the benefit extended to family members as well.
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