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Seimei Hoken - Life Insurance?

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Do you guys are paying for seimei hoken (生命保険）or a life insurance (?) in Japan? Especially those who are living long (for decades) and are willing to retire in Japan?

How about the pension? Do you guys pay in both your home country and in Japan?
 
Iceberg said:
How about the pension? Do you guys pay in both your home country and in Japan?
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Depending on your country, you don't pay both. Check the agreement informaiton.

Example: http://www.nenkin.go.jp/international/english/international/othercontries.html

Iceberg said:
Do you guys are paying for seimei hoken (生命保険）or a life insurance (?) in Japan? Especially those who are living long (for decades) and are willing to retire in Japan?
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I have a couple of different insurance plans, some paid in lump sum and others paid annually. This is mainly to cover expenses when I die plus I have some extra health coverage for serious illnesses, etc.
 
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TAG Manager said:
Depending on your country, you don't pay both. Check the agreement informaiton.

Example: http://www.nenkin.go.jp/international/english/international/othercontries.html


I have a couple of different insurance plans, some paid in lump sum and others paid annually. This is mainly to cover expenses when I die plus I have some extra health coverage for serious illnesses, etc.
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Thanks for the information. I didn't know about the agreement information.

I haven't been paying any because I thought about living here for less than 5 years. We never know about the future, so I was considering paying for one that covers some serious illnesses as well. But it all depends if I will stay here or not in the next few months.
 
Iceberg said:
I haven't been paying any because I thought about living here for less than 5 years. We never know about the future, so I was considering paying for one that covers some serious illnesses as well. But it all depends if I will stay here or not in the next few months.
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Yes, I have one plan for bigger illnesses and another that is more or less a supplement that helps cover the 30% that I would normally have to pay in cash after the other 70% has been covered by primary insurance.

I'm here long-term, so I think it's worth it.
 
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Iceberg said:
Do you guys are paying for seimei hoken (生命保険）or a life insurance (?) in Japan? Especially those who are living long (for decades) and are willing to retire in Japan?

How about the pension? Do you guys pay in both your home country and in Japan?
Click to expand...

Generally you don't need to pay pension in both countries. Usually you pay in Japan, and your home country contributions go on hold while you're here, with certain exceptions, such as intracompany transfers, being eligible to continue with home country contributions only.

Japanese life insurance is usually loaded up with all sorts of useless options like savings plans and the like. You may have to browbeat your agent to sort it out, but you simply want term life with no frills. The best way to set this up is to have multiple policies, simply to cover things like university education for kids, making sure loans are paid off and the like if you die. You set a policy for university education to expire when the kid is 25, for example.

Mortgages here usually have term life built in to the terms, so no need to insure that separately.
 
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I have never thought about health insurance in addition to the National plan. Not sure it is necessary. I investigated life insurance pretty thoroughly some tens of years ago. Japanese life insurance is generally a bad deal. It is complicated. Which means they are trying to rip you off. It is also about twice as expensive for the same coverage as global plans. I ended up going with a 30 year term policy from a global company that pays a big lump sum in the event of my death. It is simple and reasonable. It is in USD though so that is an issue. It’s from a major global insurer.
 
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warubuta said:
I have never thought about health insurance in addition to the National plan. Not sure it is necessary.
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It generally isn't. Most people are unaware that they can have their medical expenses pre-capped, and that the majority of the population should never see a medical bill larger than 80K or so if they handle the paperwork correctly.

The one area where it may be advisable is cancer insurance , as hospice care is not covered by NHI at all.
 
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I pay into shakai hoken, and two supplemental plans, one as a supplemental pension and one as an oh shit policy in case of catastrophic injury or long term hospitalization (if i am going to be stuck in the hospital, i want my space damn it). One of them also pays off in case of missed work from hospitalization, which was nice to find out when I had to get a minor operation and had to do a couple nights stay.
 
Sudsy said:
It generally isn't. Most people are unaware that they can have their medical expenses pre-capped, and that the majority of the population should never see a medical bill larger than 80K or so if they handle the paperwork correctly.

The one area where it may be advisable is cancer insurance , as hospice care is not covered by NHI at all.
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And thus the brilliance of the American guys who came up with the idea of cancer insurance for Japan.
 
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