Nippon Life Asks Japan Post to Halt Insurance Product Sales

Economy Politics

Tokyo, July 19 (Jiji Press)--Nippon Life Insurance Co. has asked Japan Post Co. to suspend temporarily the commissioned sales of one of its insurance products, it was learned Friday.

The request came after the revelation last month of inappropriate sales practices by Japan Post employees involving products of Japan Post Insurance Co. <7181> sold through post offices across the nation.

Japan Post, which manages the network of post offices, is currently considering its response to the request, it said.

It has complied with a request from Sumitomo Life Insurance Co. to stop promoting a medical insurance product of the company that had been sold jointly with a Japan Post Insurance product.

Aflac Life Insurance Japan Ltd. has yet to decide whether to suspend sales of cancer insurance products of the company through Japan Post.

[Copyright The Jiji Press, Ltd.]

Jiji Press