Cumulative insurance claim trust contracts at Samsung Life Insurance, Kyobo Life Insurance and Hanwha Life Insurance reached 1.014 trillion won, or about $757.1 million, at the end of August, roughly two years after the product was introduced. Contracts totaled 141.6 billion won in 2024, 459.8 billion won the following year and 412.6 billion won in the first eight months of this year, equivalent to about 90% of the previous full-year total. The arrangements let policyholders set beneficiaries, payment amounts and timing so insurance benefits can be distributed in installments for living costs, education or milestones instead of as a lump sum. Current eligibility is limited to general death benefits of at least 30 million won. Democratic Party lawmaker Lee Kang-il has introduced five lifetime asset management bills, including a measure to make dementia insurance benefits eligible for trusts. Such an expansion could allow payments for care, living and medical expenses after a diagnosis, extending insurers’ role from posthumous survivor protection into lifetime asset management. Industry participants are also seeking eligibility for accident benefits and links with dementia and guardianship trusts, while challenges include fees, consumer protection, long-term asset management and dementia diagnosis standards.