Samsung launches new insurance for children

Samsung Fire and Marine Insurance launched “New Insurance that Satisfies Mom” which helps parents prepare for risks they face while raising children. / Courtesy of Samsung Fire and Marine Insurance

By Yoon Ja-young

Raising children is a great joy, but it also involves a lot of risks.

Samsung Fire and Marine Insurance has launched a new insurance policy for children that can help parents prepare for diverse risks.

The “New Insurance that Satisfies Mom,” which is an upgraded version of Samsung’s insurance policy for children, has strengthened protection for expectant mothers.

For instance, if an expectant mother is hospitalized for problems other than delivery, such as a miscarriage, morning sickness, gestational diabetes, cervical incompetency or preterm labor, the insurance policy will cover 80 percent of the hospitalization cost.

As more women delay marriage and childbirth, concern is also increasing whether they can have a healthy baby.

The new policy supports mothers with child rearing expenses for 10 years if the baby is diagnosed with cerebral palsy or Down’s syndrome.

The policy also strengthens coverage against problems that mothers often face while rearing children.

For instance, it offers insurance money to treat cavities and protection against bacterial meningitis.

In the case of cancer, the policy offers comprehensive coverage, from diagnosis, surgery and hospitalization to chemo and radiation treatment. The coverage for the hospitalization will be offered from the first day of hospitalization.

Meanwhile, expectant mothers will be offered special gifts, such as goods necessary for newborns, a photo book, or a free cultural experience program.

“We launched the policy, taking into account what mothers want most for their children,” said a spokesman for Samsung Fire and Marine Insurance.

“It reflects our plan to aggressively increase our share in the children’s insurance market, which is continuing to grow. The policy includes protections that mothers really need,” he added.

For details of the insurance policy, contact consultants of Samsung Fire and Marine Insurance.