Hanwha Life Launches 'Dementia Care MMT'

*This content was translated by AI.

Hanwha Life has launched the 'Dementia Care MMT (Flexible Deposit Trust)' to protect patients' assets and allow them to use funds for nursing care costs in the event of dementia onset.

This product is an enhanced version of the existing MMT, adding a mandatory rider specifically designed for moderate to severe dementia. Under normal circumstances, it can be used freely like a regular MMT; however, if a customer develops cognitive impairment classified as moderate or higher (CDR score of 2 or above [2]), the rider activates and funds are disbursed.

At the time of enrollment, customers pre-set the trust manager and payment method with the trust administrator. This enables the trust manager to claim nursing care costs directly from the MMT balance upon a dementia diagnosis.

Payment options include 'lump-sum payment' (received all at once), 'fixed-term monthly payment' (received monthly over a designated period), and 'special payment' (direct billing for actual expenses incurred at hospitals or nursing facilities). The proportion of funds allocated to each payment method is also set in advance from the MMT balance.

A Hanwha Life representative, speaking via telephone with this newspaper, stated, "The Dementia Care MMT extends our company's dementia care service, which takes responsibility for asset management even after dementia onset."

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*This content was translated by AI.