An integrated insurance and health management support program targeting 650,000 vulnerable seniors aged 65 and older and dementia patients will be implemented starting in 2027. The program's core features include coverage for fall-related injury treatment costs and free provision of liability insurance covering damages that dementia patients may cause to others.

The Financial Services Commission and the Ministry of Health and Welfare announced on the 19th that they signed a memorandum of understanding with the insurance industry, the Korea Vulnerable Elderly Support Foundation, and Comprehensive Support Centers for Elderly Living Alone to pursue the 'Integrated Support Program for Vulnerable Seniors.' A total of 10.5 billion won will be invested in the program, of which 9.6 billion won will come from the insurance industry's mutual growth fund. The program will run for two years from the first quarter of 2027 through 2028, with detailed operational plans and implementing companies to be finalized in the fourth quarter of this year.

■ Support Divided into Two Tracks

Some 570,000 vulnerable seniors aged 65 and older who use customized elder care services will receive fall injury treatment cost coverage, financial education, and health management services. Separately, about 80,000 people vulnerable to dementia will receive free dementia liability insurance.

A total of 2.5 billion won has been allocated for fall injury treatment cost support. If bruises, sprains, fractures, or other injuries occur due to falling or slipping accidents, treatment and recovery costs will be provided at differentiated levels depending on the severity of bodily injury. After treatment, beneficiaries can obtain a medical certificate and receipts and apply for payment at the Comprehensive Support Centers for Elderly Living Alone; if direct application is difficult, the assigned life support worker can apply on their behalf.

■ From Voice Phishing Prevention Education to Health Management

A total of 400 million won has been allocated for financial fraud prevention education. Life support workers will conduct in-person education on voice phishing prevention and mobile banking usage, using educational materials from the National Police Agency.

In the health management area, 3.9 billion won will be invested in non-financial services such as healthcare. Services will include phone health consultations, health checkup result analysis, and medication guidance, with medical staff including nurses with five or more years of experience at university hospitals participating in consultations. Seniors with chronic conditions such as hypertension and diabetes will also receive dietary and health management guidance tailored to their conditions. Follow-up care will include guidance to specialized hospitals and medical staff appropriate to symptoms, appointment booking assistance, and one-on-one phone consultations with specialized nurses for nutrition management after treatment. Services can be requested by the seniors themselves or by life support workers through the implementing company's operations center.

A total of 1.5 billion won will be invested in programs addressing social isolation and depression. Seniors requiring intensive management will be identified after physical and mental health screenings and provided with depression prevention and physical activity promotion programs, and a reward budget of 200 million won has also been set aside for participating seniors and life support workers.

■ Dementia Liability Insurance to Be Operated Separately

A total of 2 billion won will be invested in dementia liability insurance for about 80,000 people vulnerable to dementia. This insurance covers liability when a dementia patient unintentionally causes bodily injury or property damage to others, and its coverage purpose differs from insurance that pays for the patient's own treatment costs. Since the Korea Vulnerable Elderly Support Foundation will select beneficiaries from registered dementia patients by considering income levels and other factors, not all patients will be automatically enrolled solely based on a dementia diagnosis. The government and the insurance industry will select the implementing insurer and launch the product in the fourth quarter of this year, after which a dedicated call center will support insurance claims by families or guardians.

This program is a follow-up to the mutual growth product activation agreement made in March, in which the insurance industry partnered with seven local governments to provide free mutual growth insurance to small business owners and other regionally vulnerable groups, expanding the scope of support to the elderly population. The Financial Services Commission will support the program's implementation, and the Ministry of Health and Welfare will link it with the customized elder care service delivery system. Considering the possibility of concentrated initial applications and consultations, implementing insurers will be divided by region.

However, actual service use will only be possible after the program launches in the first quarter of 2027. Detailed payment criteria for fall treatment costs, coverage limits for dementia liability insurance, and specific application procedures must be confirmed through operational plans to be finalized later. In particular, since the two support programs differ in target groups and coverage, users need to check which program applies to them.

[Actual eligibility, coverage scope, payment amounts, and application procedures may change according to detailed operational standards to be finalized later. Insurance payouts or service use are not guaranteed before the program launches, and specific details must be confirmed through official announcements from relevant authorities. AI assistance was provided in part.]