The so-called 'filial insurance' is gaining quiet popularity as aging accelerates, enabling children to manage their parents' healthcare and nursing risks. This insurance product is particularly appealing due to the launch of easy screening options that allow older people to enroll with fewer barriers.

According to a report on the 22nd from the insurance industry, filial insurance products are characterized by the popularization of easy screening, enhanced coverage for nursing and long-term care, and services closely integrated with everyday life. As insurance options with easy screening expand, older adults and those with pre-existing conditions are finding it easier to obtain coverage. Previously, getting insurance was challenging for those with medical histories, but now, passing just three questions related to recent hospitalizations or surgeries allows them to enroll relatively hassle-free.

Insurance companies are responding to this growing demand with various products tailored for older adults. For instance, KB Insurance offers ‘KB Golden Life Care Nursing Insurance’, which extends support for dementia diagnosis and treatment. Modern insurance providers, like Hyundai Marine and Fire Insurance, have launched options that integrate cancer and dementia coverage, designed to accommodate the order of disease occurrences. Moreover, practical risk coverage addressing aging-specific hazards, from fractures to scams, is increasingly popular, indicating a shift towards a more comprehensive safety net for the elderly and their families.