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  • life insurance and income protection insurance

    I want to buy life insurance and/or income protection insurance.

    I'm worried that if I'm permanently disabled by a brain disease or a run-in with the yak I won't be able to work.

    Normally the cheapest way to do this is through my oz superannuation fund but unfortunately it doesn't cover expats.

    My cheapo health insurance company, Interglobal, has add-on personal accident cover but this doesn't cover damage caused by diseases or maybe the yak, too.

    I had a look online and found a UK company called HealthCare International - anyone know anything about them?

    Or does anyone have other suggestions?

    Cheers.

  • #2
    Originally posted by not who you think it is View Post
    I want to buy life insurance and/or income protection insurance.

    I'm worried that if I'm permanently disabled by a brain disease or a run-in with the yak I won't be able to work.

    Normally the cheapest way to do this is through my oz superannuation fund but unfortunately it doesn't cover expats.

    My cheapo health insurance company, Interglobal, has add-on personal accident cover but this doesn't cover damage caused by diseases or maybe the yak, too.

    I had a look online and found a UK company called HealthCare International - anyone know anything about them?

    Or does anyone have other suggestions?

    Cheers.

    Income protection is a huge racket, so tread carefully. More catch-you-out clauses than holes in the Albert Hall...

    Comment


    • #3
      Originally posted by HarryHurry View Post
      Income protection is a huge racket, so tread carefully. More catch-you-out clauses than holes in the Albert Hall...
      Tend to agree. Rather get a disability insurance, but make sure they include earthquake risk. Some companies have stopped including that for new policies after March 11...

      Comment


      • #4
        Does anyone know of some good disability cover available in Japan?

        I checked out some companies from home but they don't cover expats.

        I'd rather get this sorted out sooner rather than later because I'm a bit clumsy; only a matter of time before I turn into a vegetable.

        Comment


        • #5
          Originally posted by not who you think it is View Post
          Does anyone know of some good disability cover available in Japan?
          .
          http://www.bannerjapan.com/insurance/life-insurance/

          Comment


          • #6
            Originally posted by not who you think it is View Post
            I want to buy life insurance and/or income protection insurance.

            I'm worried that if I'm permanently disabled by a brain disease or a run-in with the yak I won't be able to work.

            Normally the cheapest way to do this is through my oz superannuation fund but unfortunately it doesn't cover expats.

            My cheapo health insurance company, Interglobal, has add-on personal accident cover but this doesn't cover damage caused by diseases or maybe the yak, too.

            I had a look online and found a UK company called HealthCare International - anyone know anything about them?

            Or does anyone have other suggestions?

            Cheers.
            I wouldn't trust companies such as Interglobal.

            My feeling is might be best to sign with a J-company given you're living here.

            Comment


            • #7
              Originally posted by Ken44 View Post
              I wouldn't trust companies such as Interglobal.

              My feeling is might be best to sign with a J-company given you're living here.
              The problem with Japanese companies is, that their coverage for 'natural disasters' is capped by law at a tiny amount. This is necessary as the insureres would all become insolvent if the big one hits Tokyo.

              Rather go for an international company with a local presence. I am at AIU/ALICO but my agent also told me that they have stopped accepting new contracts with earthquake coverage.

              Comment


              • #8
                Originally posted by Ken44 View Post
                My feeling is might be best to sign with a J-company given you're living here.
                Agreed. I'm with Nissay. Is it the best value policy on the planet? Probably not. Are there enormous advantages dealing with a company in its home country and with people you have met and can contact with any problems etc? Absolutely.

                Comment


                • #9
                  If you are talking life insurance – have the policy issued in the name of the intended beneficiary. The policy is on you, and you can pay for it – but when it is collected on, no estate taxes to be paid and it does not get delayed disbursement as a part of your estate. Your beneficiary gets cash immediately, and just maybe will use part of it to pay for your funeral.

                  Comment


                  • #10
                    Originally posted by ksnasi lurker View Post
                    Agreed. I'm with Nissay. Is it the best value policy on the planet? Probably not. Are there enormous advantages dealing with a company in its home country and with people you have met and can contact with any problems etc? Absolutely.
                    It really depends on the contract. A simple term life does not require any lengthy negotiations. Either you are alive or you're dead (and your beneficiary can present a death certificate). Actually my hunch was that Japanese conditions for term life were a bit better for that as they tend to live longer...

                    In the Tohoku Quake (as done before in Kobe), Japanese insurers paid out the death benefit, but ONLY as an Ex Gratia payment. Read here :

                    "Because of the tremendous loss of life, life insurers face increased death, accident and health claims. Life insurance coverage in Japan is relatively straightforward, with one exception. An accidental death benefit rider, typically double the death benefit, is excluded by contract in the event of an earthquake. However, in accordance with local customs and concern for insuredsf families, the Japanese life insurance industry has announced that the earthquake exclusion will not be enforced for this event and that payments arising from the accidental death benefit coverage will be made. Our current estimate of the losses to life insurers is US$3.0 billion to US$4.9 billion."

                    http://www.towerswatson.com/assets/p...2011-20208.pdf

                    Comment


                    • #11
                      Originally posted by ttokyo View Post
                      ...In the Tohoku Quake (as done before in Kobe), Japanese insurers paid out the death benefit, but ONLY as an Ex Gratia payment. ...
                      So, donft die in an earthquake, or alternatively – take all of your dependants/beneficiaries, with you.

                      I have a life policy – or I should say that my wife has a life policy on my life. I hope to outlive her – or maybe die within days of her passing, but if I do die sooner it will likely be due to my own fault.

                      I have been potentially minutes from death on numerous occasions, and while these events are diminishing a bit, they are still quite frequent. For example, in sequence of probability for me:

                      Speeding on expressways and occasionally on common roadways
                      Operating dangerous equipment – those with fast moving cutting edges
                      Ignoring the force of gravity – high in trees, on scaffolding, rooftops, ladders
                      Motorcycle riding (generally within the speed limit, but danger from other vehicles abounds)
                      SCUBA diving
                      Beekeeping (the honey bees are just fine, but the hornets that they attract are just plain dangerous)
                      Hiking in untamed forests – wild beasties abound, rock slides occur, one could get lost

                      So as remote as death might seem for most – there are numerous gjust minutes from deathh scenarios that can do you in. Hence – it is best to have life insurance if you have dependants.

                      Comment


                      • #12
                        Originally posted by not who you think it is View Post
                        Does anyone know of some good disability cover available in Japan?
                        First of all, there is no company in Japan that offers a decent coverage against disability. ALL benefits of Japanese insurance companies or companies that sell policies in Japan are in some way capped (mostly time, sometimes money).

                        If you get disabled in you thirties we are talking about 2~ȏ just income loss. If you need help at home or a family member that has to stay at home you can add another@5000.

                        There is no NHI etc. cover !!

                        Best coverage is [occupational disablement insurance]. They pay a fixed amount a month (20,30,40....) if you are unable to do your job (not work) fully (e.g. 50%).

                        Worse is [disablement insurance]. They pay a fixed amount a month (20,30,40....) if you are unable to work fully (e.g. 50%).

                        Worse is [dread disease insurance]. They usually pay a fixed amount if you are diagnosed one of several severe illnesses (cancer, etc.)

                        Lots of European and American companies offer such insurances. Checks regarding pre-existing diseases are pretty tough and if you lie you won't get a penny.

                        Not having such an insurance is financial suicide.

                        Comment


                        • #13
                          Try Dick Herz Insurance in Beaverton.

                          Comment


                          • #14
                            Found this dude to be very rude and very arrogant.

                            Would not give him a yen.

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