Japan Post Neglects to Introduce System to Protect Aflac Customers

Economy

Tokyo, Aug. 21 (Jiji Press)--Japan Post Co. has neglected for five years to introduce a system established by Aflac Life Insurance Japan Ltd. to prevent holders of its cancer insurance products from making double premium payments or becoming uninsured, informed sources said Wednesday.

Japan Post, a unit of Japan Post Holdings Co. <6178>, is commissioned to sell the cancer insurance policies of Aflac at its post offices nationwide.

The neglect by Japan Post affected more than 100,000 insurance policies concluded in the year through May, the sources said. Japan Post plans to introduce the system in October, they said.

The discovery came after the revelation in June of inappropriate sales practices involving products of Japan Post Insurance Co. <7181>, another unit of Japan Post Holdings, sold through post offices nationwide.

Cancer insurance products in general do not insure policyholders for the first three months of the contract period, to avoid cancer patients attempting to buy such policies while hiding their condition.

[Copyright The Jiji Press, Ltd.]

Jiji Press