Hanwha Life has introduced a new insurance product designed to strengthen protection against serious illnesses, with a particular focus on cancer, brain, and heart diseases. Launched on September 1, the “Hanwha Life H Health Plus Insurance” provides end-to-end coverage, ranging from diagnosis and treatment to after-effects and death benefits. The plan also allows policyholders to expand coverage options even after completing payments, making it adaptable for long-term health and retirement planning.
In collaboration with global healthcare company Need, the insurer has embedded artificial intelligence into the product to deliver more customized services. Powered by Need’s cancer-focused AI system, the plan offers policyholders tailored care, including guidance on cancer prevention, treatment, and recovery. Customers will also have access to AI-driven chat services and interactive health content, creating a comprehensive support system that extends beyond traditional financial coverage.
The Hanwha Life H Health Plus Insurance distinguishes itself with a unique coverage-expansion structure. After policyholders complete all premium payments, the coverage amount can increase by up to twice the original level. Customers are also offered an additional contract option, allowing a certain percentage of paid premiums to be reinvested into expanding coverage. This feature, combined with a conversion option that lets part of the policy be turned into pension or savings benefits, makes the product adaptable for different stages of life, including retirement.
Coverage has also been strengthened compared to earlier offerings. Previously, compensation for major cancer treatments such as surgery, chemotherapy, and radiotherapy was limited to once a year for up to 10 years. The new plan extends this protection to the full term of the policy. In addition, it introduces broader benefits such as payouts for death caused by cancer, brain, or heart disease, along with partial coverage—ranging from 3% to 100%—for after-effects of these critical conditions.
Premium waivers are another important element. Under the standard enrollment type, if a policyholder is diagnosed with certain conditions—such as cancer (excluding minor types like thyroid and skin cancers), acute myocardial infarction, stroke, or severe after-effects of at least 50%—all future premiums are waived. This ensures continued protection without the financial burden of ongoing payments during illness.
Accessibility has been expanded through a simplified enrollment plan aimed at people with mild preexisting conditions or seniors who often face challenges in securing insurance. Applicants who have not undergone hospitalization or surgery in the year following enrollment may also receive premium discounts through contract conversion. The policy is open to individuals aged 15 to 80, with optional add-ons including riders for major cancer treatment, the after-effects of critical diseases, and premium waivers.
For instance, based on a standard enrollment for a 30-year-old, with a 20-year payment period and coverage maturity at age 110, the monthly premium stands at 129,121 won ($95) for men and 74,724 won ($55) for women. This calculation includes the main contract of 10 million won, as well as riders covering cancer, brain, and cardiovascular disease treatments, after-effects, and premium waivers.
The AI-powered feature of the plan is supported by Need, a healthcare startup established in 2019 by Harvard Medical School graduates Petros Giannikopoulos and Will Polkinghorn. At the core of this partnership is Need’s Cancer Protection System, which has been reviewed by an international network of oncology specialists. The system combines medical checkup data analysis with interactive health tools and an AI-driven chatbot to guide patients through prevention, treatment, and recovery. For those already diagnosed, it also assists physicians by providing insights that can support the development of more tailored treatment strategies.
Hanwha Life officials stressed that this product is designed to go beyond conventional insurance. “The Hanwha Life H Health Plus Insurance combines financial protection with AI-powered cancer care, covering the entire journey from prevention to recovery,” said Lee Sang-hee, head of product development. “With features like structured coverage growth, premium waivers, and savings conversion, we aim to create an insurance product that evolves with customers and supports them across all stages of life.”
