Dai-ichi Life to Sell Temporary Life Insurance Only Online

Economy

Tokyo, Jan. 20 (Jiji Press)--Dai-ichi Life Insurance Co. said Monday it will launch by September low-cost, short-term life insurance products exclusively for online customers.

A preparatory firm will be set up later this month in Tokyo with capital of 500 million yen, the core unit of Dai-ichi Life Holdings Inc. <8750> said.

The digital insurance service will allow users to complete signing contracts, filing claims and all other necessary procedures on the internet.

The temporary life insurance policies with lower premiums than those on conventional life-long policies will be targeted at younger generations with a variety of insurance needs, the company said.

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