ABL Life Insurance launches new health insurance plans

Courtesy of ABL Life Insurance

ABL Life Insurance has launched two new types of health insurance plans which have streamlined cumbersome subscription processes, increasing access to health insurance coverage for those in formerly neglected demographics, such as senior citizens and people with chronic illnesses.

The new insurance products have relatively few requirements, allowing senior citizens and those with pre-existing or chronic health problems to easily subscribe to the plans.

One of the two new insurance plans only requires that customers have not received a diagnosis, hospitalization or surgery related to cancer, liver cirrhosis, cerebrovascular disease or ischemic heart disease in the past five years.

Another new insurance plan has some additional requirements, yet its monthly premiums are about 18 percent cheaper than the other insurance plan's.

Anyone aged from 30 to 80 can subscribe to the plans, and can be covered until they're 100 years old.

“Instead of differentiating insurance premiums, the firm has launched the two new plans so that anyone, including senior citizens and people with a record of previous illnesses, can receive insurance benefits to treat future major diseases,” an official of the insurance company said.

“ABL Life Insurance hopes to provide a better life for customers with its advanced products and smart services, earning trust from customers,” the firm added.

ABL Life Insurance is the second-oldest life insurance company in Korea, with over 1.15 million customers covered nationwide.