#Japan #Long-Term Care #Tokyo #MetLife #Bright Action

MetLife Japan Unveils 'Bright Action' Insurance

On January 20, MetLife Insurance Company, led by its CEO Dirk Osteen, announced the launch of a new variable long-term care insurance product titled 'Bright Action,' specifically designed for corporate clients. This innovative insurance aims to address the risks associated with death, severe disability, and the need for long-term care, while also providing potential growth in coverage amounts and surrender returns based on the performance of a dedicated account.

Features of 'Bright Action'

'Bright Action' is tailored primarily for business owners and entrepreneurs. It allows them to secure their financial future against various risks while providing flexibility based on their unique needs. The insurance offers six distinct plans, which can be customized depending on the presence of a guaranteed suppression period (choices of 2 or 10 years) and the option for fluctuating insurance benefits. Thus, clients can design their coverage amounts and insurance duration to fit specific exigencies such as retirement funds, business continuity, and more.

Importance Amidst Aging Population

In Japan, where the population is aging rapidly, the average age of business owners is also rising, making it crucial for them to prepare for unexpected circumstances and long-term care needs. A recent survey conducted by MetLife highlights significant concerns among entrepreneurs, including risks related to operating capital management and succession planning. Under the threat of inflation, they also express concerns related to the potential diminishment of insurance benefits and surrender values.

The 'Bright Action' product is designed to mitigate these risks through strategic account management, thus assisting corporate clients effectively in retirement planning and succession strategies. This aims to contribute significantly to stable business management in the face of economic uncertainty.

Flexibility and Accessibility

One of the key advantages of 'Bright Action' is its adaptability to inflation and economic shifts. As the insurance coverage adjusts based on the performance of managed funds, it potentially reduces risks related to devaluation of retirement funds and business succession resources caused by inflation. Furthermore, the various plan structures ensure that business owners can select the coverage that aligns best with their future aspirations and concerns.

The plans with a guaranteed suppression period allow clients to apply with a simplified process, requiring only three simple declarations, eliminating the need for a physician’s examination regardless of the coverage amount chosen.

Commitment to Clients

MetLife strives not only to provide essential coverage for uncertain events but also to support clients in their daily health and asset-building journeys. The company's ongoing commitment encompasses delivering products and services that align with societal needs, affirming its role as a trusted partner for clients in crafting a secure future.

Background of MetLife Japan

Founded in 1973, MetLife Japan is recognized as the first foreign life insurance company in Japan, now a significant entity within the global MetLife insurance group. Its mission emphasizes close alignment with client needs, offering a comprehensive range of innovative products through various sales channels to address diverse risks faced by both individuals and businesses alike.

For more details about the product offerings and to understand what prospective clients should keep in mind before engaging with corporate insurance options, please refer to the separate material provided by MetLife Japan.