Aflac Checking for Improper Insurance Contracts at Post Offices

Economy

Tokyo, July 24 (Jiji Press)--Aflac Life Insurance Japan Ltd. has begun checking for any inappropriate contracts for its insurance products sold on commission by Japan Post Holdings Co. <6178> units, informed sources said Wednesday.

The investigation, launched this month, came in the wake of the revelation last month of inappropriate sales practices involving products of Japan Post Insurance Co. <7181> sold through the nationwide network of post offices, operated by Japan Post Co.

Cancer insurance products of Aflac are sold by Japan Post and Japan Post Insurance.

Post offices began commissioned sales of Aflac products in 2008. The products are now available at approximately 20,000 post offices across Japan.

In the probe, Aflac will pick out cases such as double premium payments, frequent changes from one contract to another and customers being left uninsured.

[Copyright The Jiji Press, Ltd.]

Jiji Press