Kyobo Life Insurance has launched a health product that covers for dementia treatment, including dementia tests, diagnosis, hospitalisation, treatment, and nursing.
Called Kyobo Dementia and Care Safety Insurance (non-dividend), this product is a specialised insurance that provides coverage during each stage of dementia, expanding the scope of dementia and long-term care grade coverage and broadly guaranteeing home-care benefits and facility benefits, use of caregivers, and integrated disaster diagnosis.
Policyholders who are diagnosed with dementia, whether mild, moderate or severe, will be paid monthly living funds along with diagnostic insurance (a lump sum) to ease the burden of nursing expenses.
The insurance covers long-term care, home and facility benefits, and visiting care subsidies.
If home care benefits, facility benefits, day and night care, or visiting care are needed after determining the long-term care level, daily or monthly allowances are guaranteed according to the contract.
In addition, a special agreement was newly established to guarantee the payment of diagnostic insurance, home care benefits, and the use of weekly and night care even if only the cognitive support level or higher is received in long-term care.
Further, dementia testing, drug treatment, hospitalisation, nursing, and accidents are covered, including admission to a higher-tier general hospital, use of caregivers, and special cases for determining severe dementia.
In particular, through a special agreement for the use of inpatient caregivers, caregivers' expenses that are not covered by real loss insurance are guaranteed every day (180 days per hospitalisation), reported Naver.