JAPAN POST INSURANCE CO., LTD. UNOFFICIAL TRANSLATION
Although Japan Post Insurance pays close attention to provide English translation of the information disclosed in Japanese, the Japanese original prevails over its English translation in the case of any discrepancy.
November 10, 2021
Company Name: JAPAN POST INSURANCE Co., Ltd.
Representative: SENDA Tetsuya, Director and President, CEO, Representative Executive Officer
Stock exchange listing: Tokyo Stock Exchange First Section (Code Number: 7181)
Filing of Notification on Insurances to Newly Underwrite
JAPAN POST INSURANCE Co., Ltd. (Chiyoda-ku, Tokyo; SENDA Tetsuya, Director and President, CEO, Representative Executive Officer; hereinafter, the "Company") hereby announces that the Company has filed a notification on revisions to medical riders and other matters with the Commissioner of the Financial Services Agency and the Minister for Internal Affairs and Communications, pursuant to provisions of Article 138-2, Paragraph 1 of the Postal Service Privatization Act (Act No. 97 of 2005).
The Company is scheduled to launch the products from April 2022 onwards.
(Appendix)
Outline of Insurance of Newly Underwrite
1. Purpose
The Company will revise and improve the contents of medical rider and enlarge medical coverage.
2. Medical rider with revised benefits
- Benefits details
A. Hospitalization benefit
An amount equivalent to 0.1% of the standard insured amount of the rider per day of hospitalization is to be paid.
B. Lump-sum hospitalization benefit
An amount equivalent to 20 times the daily hospitalization benefit is to be paid on the first day, as well as on the 30th day, the 60th day, the 90th day, and the 120th day, of hospitalization, on top of the hospitalization benefit.
For cautions sake, total number of payment is limited within 20 times, each for disease and injury.
C. Surgery benefit
Surgery benefit is to be paid for surgeries listed as covered in the calculation of surgery fees as well as advanced medical care, in the table for medical fee points under the public health insurance system. An amount equivalent to 10 times the daily hospitalization benefit is to be paid.
D. Radiotherapy benefit
Radiotherapy benefit is to be paid for treatments listed as covered in the calculation of radiotherapy treatment as well as advanced medical care, in the table for medical fee points under the public health insurance system. An amount equivalent to 10 times the daily hospitalization benefit is to be paid.
(2) Insured amount
The standard insured amount of this rider shall be not more than five times the standard insured amount of its basic policy.
(3) Method of insurance underwriting
Underwriting shall require submission of a declaration from the insured, but not health examination by a doctor.
1
3. Medical rider with revised benefits and relaxed underwriting criteria
- Benefits details
-
Hospitalization benefit
An amount equivalent to 0.1% of the standard insured amount of the rider per
day of hospitalization is to be paid. B. Lump-sum hospitalization benefit
An amount equivalent to 10 times the daily hospitalization benefit is to be paid on the first day, as well as on the 30th day and the 60th day, of hospitalization, on top of the hospitalization benefit.
For cautions sake, total number of payment is limited within 40 times, each for disease and injury.
C. Surgery benefit
Surgery benefit is to be paid for surgeries listed as covered in the calculation of surgery fees as well as advanced medical care, in the table for medical fee points under the public health insurance system. An amount equivalent to 10 times the daily hospitalization benefit is to be paid.
D. Radiotherapy benefit
Radiotherapy benefit is to be paid for treatments listed as covered in the calculation of radiotherapy treatment as well as advanced medical care, in the table for medical fee points under the public health insurance system. An amount equivalent to 10 times the daily hospitalization benefit is to be paid.
For A through D above, an amount calculated based on the standard insured amount of rider reduced by 50% is to be paid in the event where cause for payment occurs within one year of the policy completion date.
(2) Insured amount
The standard insured amount of this rider shall be not more than five times the standard insured amount of its basic policy.
(3) Method of insurance underwriting
Underwriting shall require submission of a declaration from the insured, but not health examination by a doctor.
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Outline of the new product that JP INSURANCE has notified
November 10,2021 JAPAN POST INSURANCE Co., Ltd.
JAPAN POST INSURANCE Co., Ltd. has filed a notification for revisions of medical riders in accordance with the Postal Service Privatization Act. We believe new product meets our company policy that "We will provide insurance services to meet the coverage needs of customers of all generations in an age of the 100-year life."
- Enlarge medical coverage
Provide larger medical coverage with lower insurance premiums by raising the ratio of the insured amount of the medical coverage to that of the death benefit.
・Insured amount of rider
Up to the same amountof its basic policy
- Up to 5 timesthe amount of its basic policy
- Lower Insurance premium
Customers can keep total insurance premiums lower, by reducing the amount of death benefit.
- Increase Hospitalization and Surgery benefit
Provide larger medical coverage for short-term hospitalization, and also for long-term hospitalization due to serious disease.
・Lump-sum hospitalization benefit
5 times the daily hospitalization benefit → 20 times（Number of payments per hospitalization
One time → Up to 5 times）
Make benefits easy to understand by equalizing the amount of surgery benefit paid for surgeries during hospitalization and outpatient surgeries without hospitalization.
・Surgery during hospitalization | ||
20 times the daily hospitalization benefit | → | 10 times |
・Outpatient surgery without hospitalization | ||
5 times the daily hospitalization benefit | → | 10 times |
with the daily hospitalization benefit of ¥5,000 | ||||||||||||||||||||
Current | Revised | |||||||||||||||||||
Medical | ||||||||||||||||||||
coverage | ||||||||||||||||||||
Death | Medical | ¥5million | ||||||||||||||||||
benefit | coverage | Death | ||||||||||||||||||
¥3.33million ¥3.33million | ||||||||||||||||||||
benefit | Rider | |||||||||||||||||||
Basic | Rider | ¥1million | ||||||||||||||||||
Basic | ||||||||||||||||||||
policy | ||||||||||||||||||||
policy | ||||||||||||||||||||
Example of benefits provided with the daily hospitalization | ||||||||||||||||||||
benefit of ¥5,000 | ||||||||||||||||||||
Current | Revised | |||||||||||||||||||
¥350,000 | ||||||||||||||||||||
Lump-sum | ¥100,000 | |||||||||||||||||||
hospitalization benefit | ||||||||||||||||||||
Hospitalization benefit | ¥175,000 | |||||||||||||||||||
¥135,000 | ¥100,000 | |||||||||||||||||||
¥25,000 | ¥105,000 | |||||||||||||||||||
¥30,000 | ¥60,000 | ¥100,000 | ||||||||||||||||||
¥100,000 | ||||||||||||||||||||
¥25,000 | ¥150,000 | ¥150,000 | ||||||||||||||||||
¥25,000 | ||||||||||||||||||||
¥35,000 | ¥35,000 | |||||||||||||||||||
¥5,000 | ||||||||||||||||||||
¥ 5,000 | ||||||||||||||||||||
1day | 7days | 30days | ||||||||||||||||||
1day | 7days | 30days | ||||||||||||||||||
(The days of hospitalization) | (The days of hospitalization) | |||||||||||||||||||
Surgery during | Surgery during | |||||||||||||||||||
￥ | 100,000 | ￥50,000 | ||||||||||||||||||
hospitalization | hospitalization | |||||||||||||||||||
Surgery without | ¥25,000 | Surgery without | ¥50,000 | |||||||||||||||||
hospitalization | hospitalization |
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Japan Post Insurance Co. Ltd. published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 06:44:16 UTC.
