#Japan #Tokyo #MetLife #Whole Life Insurance #Sunny Garden Prime

MetLife Japan Unveils Innovative Insurance Product

On April 1, 2023, MetLife Insurance Company, led by CEO Dirk Osteen, launched the latest iteration of its one-premium whole life insurance product named ‘Sunny Garden Prime’. This new offering will be available through financial institution agents starting from the same day, with plans to roll it out through direct sales and insurance agencies by July 1.

Evolution of a Trusted Product

‘Sunny Garden Prime’ is a reimagined version of the well-received ‘Sunny Garden EX’, which has been popular since its initial release in 2015. The new product retains the fundamental features of lifelong coverage and investment returns while introducing several enhancements. Notably, it now includes a Japanese yen-denominated plan in addition to the existing U.S. dollar option, offering customers a more stable investment avenue in times of inflation.

As economic uncertainties loom, this updated product aims to provide clients with customized solutions tailored to their diverse needs.

Key Features of ‘Sunny Garden Prime’

Introduction of a Yen Denomination Plan

The addition of a yen-denominated plan allows customers to avoid foreign exchange risks while accumulating assets. This is particularly relevant in an era where inflation is a concern, making it essential for individuals and families to secure their financial future.

Flexible Interest Rate Guarantee Period

For clients opting for the “interest rate revision model”, the guaranteed interest periods for the U.S. dollar plan are available in 10 or 20 years, while the yen plan offers a choice of 5 or 10 years. Alternatively, in the “fixed interest rate model”, customers can secure lifelong investment returns without any fluctuations in their chosen currency.

Three Flexible Courses for Utilizing Investment Returns

Policyholders can choose from three options for how they receive their investment returns: the Regular Payment Course, the Optional Payment Course, or the Contribution Increase Course (available only with the interest revision model). This flexibility allows them to receive funds regularly or optionally, or to continue accumulating returns to take advantage of compounding growth.

Customizable Recipient Options for Regular Payments

In the case of the Regular Payment Course, the designated recipient of the regular payments can be the policyholder, their spouse, or any other individual within the company’s specified range, with the option to modify this annually. This feature enables clients to offer meaningful support to loved ones and opens up possibilities for gifts inter vivos under applicable gift tax regulations.

Commitment to Customers

MetLife is dedicated to being a reliable partner to its customers, offering not only essential coverage for unexpected events but also support for daily health and wealth-building needs. The company strives to continue providing products and services that align with society’s evolving needs and is committed to fulfilling its responsibility towards customers’ bright futures.

About MetLife Insurance Japan

Founded in 1973 as Japan's first foreign life insurance company, MetLife Insurance Japan operates as a subsidiary of the global insurance leader, MetLife, Inc. The company aims to help customers select optimal coverage through a range of innovative products and diverse distribution channels for both individual and corporate clients. For more information, visit www.metlife.co.jp.