Hanwha Life has launched a brand new insurance coverage product designed to strengthen safety towards severe diseases, with a specific deal with most cancers, mind, and coronary heart illnesses. Launched on September 1, the “Hanwha Life H Well being Plus Insurance coverage” offers end-to-end protection, starting from prognosis and remedy to after-effects and demise advantages. The plan additionally permits policyholders to develop protection choices even after finishing funds, making it adaptable for long-term well being and retirement planning.
In collaboration with world healthcare firm Want, the insurer has embedded synthetic intelligence into the product to ship extra custom-made companies. Powered by Want’s cancer-focused AI system, the plan provides policyholders tailor-made care, together with steering on most cancers prevention, remedy, and restoration. Clients will even have entry to AI-driven chat companies and interactive well being content material, making a complete help system that extends past conventional monetary protection.
The Hanwha Life H Well being Plus Insurance coverage distinguishes itself with a novel coverage-expansion construction. After policyholders full all premium funds, the protection quantity can improve by as much as twice the unique stage. Clients are additionally supplied an extra contract possibility, permitting a sure share of paid premiums to be reinvested into increasing protection. This characteristic, mixed with a conversion possibility that lets a part of the coverage be became pension or financial savings advantages, makes the product adaptable for various phases of life, together with retirement.
Protection has additionally been strengthened in comparison with earlier choices. Beforehand, compensation for main most cancers therapies comparable to surgical procedure, chemotherapy, and radiotherapy was restricted to annually for as much as 10 years. The brand new plan extends this safety to the total time period of the coverage. As well as, it introduces broader advantages comparable to payouts for demise attributable to most cancers, mind, or coronary heart illness, together with partial protection—starting from 3% to 100%—for after-effects of those important circumstances.
Premium waivers are one other essential ingredient. Underneath the usual enrollment sort, if a policyholder is recognized with sure circumstances—comparable to most cancers (excluding minor varieties like thyroid and pores and skin cancers), acute myocardial infarction, stroke, or extreme after-effects of at the very least 50%—all future premiums are waived. This ensures continued safety with out the monetary burden of ongoing funds throughout sickness.
Accessibility has been expanded by means of a simplified enrollment plan aimed toward individuals with gentle preexisting circumstances or seniors who usually face challenges in securing insurance coverage. Candidates who haven’t undergone hospitalization or surgical procedure within the 12 months following enrollment might also obtain premium reductions by means of contract conversion. The coverage is open to people aged 15 to 80, with elective add-ons together with riders for main most cancers remedy, the after-effects of important illnesses, and premium waivers.
As an illustration, based mostly on a normal enrollment for a 30-year-old, with a 20-year cost interval and protection maturity at age 110, the month-to-month premium stands at 129,121 gained ($95) for males and 74,724 gained ($55) for girls. This calculation consists of the principle contract of 10 million gained, in addition to riders masking most cancers, mind, and heart problems therapies, after-effects, and premium waivers.
The AI-powered characteristic of the plan is supported by Want, a healthcare startup established in 2019 by Harvard Medical College graduates Petros Giannikopoulos and Will Polkinghorn. On the core of this partnership is Want’s Most cancers Safety System, which has been reviewed by a global community of oncology specialists. The system combines medical checkup information evaluation with interactive well being instruments and an AI-driven chatbot to information sufferers by means of prevention, remedy, and restoration. For these already recognized, it additionally assists physicians by offering insights that may help the event of extra tailor-made remedy methods.
Hanwha Life officers burdened that this product is designed to transcend standard insurance coverage. “The Hanwha Life H Well being Plus Insurance coverage combines monetary safety with AI-powered most cancers care, masking the whole journey from prevention to restoration,” stated Lee Sang-hee, head of product growth. “With options like structured protection progress, premium waivers, and financial savings conversion, we goal to create an insurance coverage product that evolves with clients and helps them throughout all phases of life.”
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