Japan Life Insurers Focusing on Health-Promoting Policies

May 19, 2018

Tokyo- Life insurance companies in Japan are mounting efforts to develop health-promoting policies in which premiums are discounted if people exercise or go for health checkups.

Through such insurance plans, the firms hope to lower people's risk of death and the chance of developing diseases, by encouraging them to take preventive measures, including exercising.

The insurance products answer people's desire to extend their healthy life spans while also benefiting insurance companies and municipalities if the insurance benefits and medical care costs of insured people are reduced.

Although such companies have been offering some products for which insurance premiums depend on blood pressure levels, whether policyholders are smokers and other factors, the health-promoting insurance policies' assessments take account of health checkup results, as well as actions taken after customers sign up for the plans.

In March, Dai-ichi Life Insurance Co. introduced a new product that grants people discounts on insurance premiums if they submit their health certificates when signing up. The discounts are applied even if the results are poor.

The product is based on data showing that people who go for physical examinations have a lower risk of falling ill than those who do not, according to the company.

"Undergoing a checkup is the first step to being healthy," a company official said.

Sumitomo Life Insurance Co. plans to release a product in July that will offer scores on actions taken by the insured, such as doing online health checkups, going to the gym and walking.

Policyholders will receive privileges, including cuts of up to some 30 pct on their insurance premiums, depending on their points. If the total is low, the insurance premium may be raised.

Tokio Marine & Nichido Life Insurance Co. currently offers an insurance plan in which those insured get refunds if they walk an average of 8,000 steps a day.

Meanwhile, Meiji Yasuda Life Insurance Co. will release in April next year a product that returns part of insurance premiums to policyholders in line with their health examination results every year.

If the insured become sick, insurers provide them with insurance payouts and municipalities' medical costs will increase.

With the Japanese government viewing health promotion and disease prevention as key to holding down bulging social welfare spending, the spread of health-promoting insurance schemes in the country is attracting attention. Jiji Press