Hanwha Life Insurance Co. is celebrating the rise in popularity of its new lifelong insurance that is selling at record speed.

Launched in April, Hanwha sold about 25,000 “Mom to Mom Child Insurance” plans in the first two months, which is an unusually high sales record for child insurance here.

“Typical child insurance expires before kids reach 30, and they must extend the contract or get new health insurance as adults,” a Hanwha Life Insurance official said.

“But it can be difficult for people with records of heavy illness during childhood to extend the contract or transfer to other health insurance, which is exactly what we tried to fix,” he noted.

Parents can sign up for Mom to Mom Life Insurance from when the mother is expecting, up until the child is 19 years old.

The insurance offers kids coverage until they reach 100, without having to make a single contract extension ― even if they had cancer, a cerebral hemorrhage, acute myocardial infarction or other fatal illnesses listed in the contract.

Mom to Mom’s strength also lies in coverage of typical diseases children commonly suffer such as asthma and nasal inflammation. Outpatient ocular treatments and emergency room costs are also covered under the special contract.

Customers can additionally sign up for the medical indemnity insurance option, which covers up to 90 percent of medical service costs that are actually paid by patients. This option is highly recommended for parents whose children have frequent, minor diseases, the company stated.

The 100-year, lifelong health insurance has high flexibility according to the children’s growth cycle. The insurance can be transferred to installment-type insurance or pension insurance for customers who later have a stronger need for education fees and marriage expenses over health coverage.

The lowest starting insurance fee is 10,000 won ($9) per month. Parents with two or more children are eligible for a 1 percent discount.

By Chung Joo-won (joowonc@heraldcorp.com)