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Empowering Peace of Mind ~For Greater Security~ Development of Guidelines for Life Insurance Services for the Elderly

21 November 2014

The Life Insurance Association of Japan, LIAJ (Chairman: Koichiro Watanabe, President of The Dai-ichi Life Insurance Company) drew up the "Guidelines for Life Insurance Services for the Elderly."

Given the growing importance of enhancing customer services for the elderly amid Japan's rapid aging of society, the Guidelines outline basic ideas and points of attention in order to serve the elderly in an appropriate and transparent way at each stage: when concluding a contract; during the life of the contract; and on the occurrence of insured events/in performing policy procedures.

The LIAJ's member companies will further enhance its business frameworks and constantly work to improve its services for the elderly in their own PDCA (Plan, Do, Check, Act) cycles, referring to this Guideline and other specific initiatives made by each companies.

The LIAJ and member companies have been making efforts as a whole industry, to enhance services for the elderly. As well as improving industry's efforts in accordance with the Guidelines, possible utilization of the Social Security and Tax Number System (My Number System) in the private sector will enable the insurance industry to perform essential insurance procedures smoothly, and thus greatly enhance the convenience of customers. Therefore, the LIAJ will continue to propose regulatory reforms regarding utilization of My Number System in the private sector.

The LIAJ will continue promoting the efforts of each member company to further reassure the elderly customers in accessing life insurance services, giving consideration to the characteristics of the elderly.