¶–½•ÛŒ¯iLife Insurance)?

[halfnip]

What do my fellow FG's do for life insurance here in Japan? Any advice on who's good, who's bad, who's less bad, who's less less bad by a slim margin, etc.? Got the little one coming soon, so although I've been avoiding this for a while, I unfortunately have got to protect the youngin' even though I have nothing to show for it!

On a serious note though, please share your advice. If there are any Yanks that are using a specific provider because there is the slight possibility that it's better, etc. (because you might someday "think" you're moving back) please share as well!

[pbm]

i know an x car salesman selling life insurance.

[Charles]

From what I hear from every reputable financial adviser, life insurance is basically a scam, and you'd be better off putting the same money into a conservative investment fund like an index fund. What do you think the insurance companies do with your money? And they charge you fees for it. Cut out the middleman.

[omae mona]

From what I hear from every reputable financial adviser, life insurance is basically a scam, and you'd be better off putting the same money into a conservative investment fund like an index fund. What do you think the insurance companies do with your money? And they charge you fees for it. Cut out the middleman.

What kind of conservative investment fund will give my wife a huge payout when she has the local yaks take me out? She'd like to know.

[Greji]

What kind of conservative investment fund will give my wife a huge payout when she has the local yaks take me out? She'd like to know.

Have her call my old lady. They can compare notes and key hitman contact numbers.

[halfnip]

Thanks for the advice or lack of. Hehe..

Index fund. Hmmm...

[Big Booger]

I don't know exactly the name of the plan I use because my wife set it up, but basically I pay around 5000yen a month to a national life insurance scheme, and if I die they pay out around 5000000 yen. That is more than enough to cover the cost of my funeral and to give my wife a little spending money. We are both young and have no children so this suits us just fine.

However once we have children and other responsibilities our priorities will of course change. I guess you should seek insurance that you can afford, that suits your individual situation, and never go the universal life insurance route (it's bullshit). Get a simple term life that pays out an amount that you feel comfortable with.

My wife has a private deal going on with Gibraltar that seems to work well and is possibly transferable to the US.

Though when we return to the US I will only look at term life insurance for 20 years, at a reasonable fee. Then I would take the difference that I would be paying and put that into an investment account. To hell with giving insurance scammers my hard earned moola.

[Greji]

[quote="halfnip"]Thanks for the advice or lack of. Hehe.. ]

What Charles says makes a lot of sense (even for a Hawkeye). Insurance is probably the worst investment for return a person can make.

Yet, for young people, especially a young couple, that want to set up security in the event of an unfortunate accident, there is no better way than insurance to establish a quick estate.

Nobody can obviously predict their future, but where investment into mutual funds and the like will give you more return at old age, the point to be made is what can you setup fast to give your wife, husband, barkeep, or family some security if you check out early. Only insurance can provide that type of short term security.

[halfnip]

What Charles says makes a lot of sense (even for a Hawkeye). Insurance is probably the worst investment for return a person can make.

Yet, for young people, especially a young couple, that want to set up security in the event of an unfortunate accident, there is no better way than insurance to establish a quick estate.

Nobody can obviously predict their future, but where investment into mutual funds and the like will give you more return at old age, the point to be made is what can you setup fast to give your wife, husband, barkeep, or family some security if you check out early. Only insurance can provide that type of short term security.

You're right boothie. At the moment, I'm just worried about coverage should I die from choking on edamame or ika while at the local pub.

[TennoChinko]

[quote="halfnip"]What do my fellow FG's do for life insurance here in Japan? Any advice on who's good, who's bad, who's less bad, who's less less bad by a slim margin, etc.? Got the little one coming soon, so although I've been avoiding this for a while, I unfortunately have got to protect the youngin' even though I have nothing to show for it! ]

I'm not at all interested in buying life insurance in Japan including policies from US providers like Prudential, AIG etc:

1. The policies here are YEN-based and my plans are to eventually return to the US of A. I don't need to make a longterm bet on the direction of the yen-dollar.

2. The comparable premiums can be MULTIPLES more than would you might get from a US policy (even from US-based providers).

Policies sold here through the direct sales force are very much how predatory insurance firms in the US target lower-income folks (just like "Great Benefit" in John Grisham's "The Rainmaker") ... instead of determining first how much one needs in actual coverage, the first question is often "how much kinya afford?". And, end up receiving a crappy over-priced policy that pays peanuts.


My advice would be to look for a solid AAA-rated provider in the US. Sites like this one might provide some basic advice.

If you already happen to have a Japanese life insurance policy, make certain to claim the deduction (of the annual premium) on your annual tax return to reduce your overall taxable income.

All the smart advisors out there advocate term life insurance over whole or universal ... "invest the difference yourself". However, check yourself first ... that advice only makes sense and pays off IF and ONLY IF you do invest the difference intelligently. If you're a bit lax on your retirement savings etc - then whole or universal might not be a bad idea.

[emperor]

BBC news:
Canoeist wife arrested back in UK
The wife of John Darwin, the canoeist who turned up after being presumed dead, has been arrested as she arrived back in the UK.
Anne Darwin was arrested at 0925 GMT at Manchester Airport, Greater Manchester Police confirmed.
She was detained over allegations of fraud and is expected to face questioning by detectives later.
Cleveland Police have already charged John Darwin, 57, a former prison officer, with deception offences.
Mr Darwin turned up at a north London police station last weekend, after being presumed dead since 2002.
He is due before Hartlepool magistrates on Monday charged with obtaining life insurance money by deception and making an untrue statement to get a passport.
Newspaper interviews
Mrs Darwin recently moved to Panama, having sold the family home in Seaton Carew, Teesside.
A photograph showing her with her husband in Panama last year has not been independently verified.
It was thought she had flown from Panama to Florida but detectives had been in the dark as to if, and when, she intended to return to Britain.
Now they will be able to question her about details of interviews she has given to newspaper journalists.
Mr Darwin was declared dead by the Hartlepool coroner in 2003. He had not been seen since March 2002 before he walked into a police station last weekend, claiming amnesia. He was arrested at his son's house in Basingstoke, Hampshire, on Tuesday on suspicion of fraud.
Police said an application would be made on Monday to keep him in custody, where he was said to be "fit and well" on Saturday night.
Det Sgt Henderson said he could not say whether further charges would be brought in the case, or whether the investigation would be extended to include other members of the Darwin family.
The couple's sons, Anthony and Mark, previously released a statement saying they had been through a "rollercoaster of emotions" after finding out their father was alive.

[kusai Jijii]

I agree in full with what Chuck said, but as a pussy-whipped pathetic Gaijin papa, my wife has final say. She is convinced (even though I exercise 'hard' 4 days a week) that I am going to die before her. I just was informed at dinner tonight that she (i.e. me paying) had just upped my life insurance premiums for into a higher payout bracket. I asked her what she would "knock me off" for and what she intended to tell the NHK reporters if my 'suspicious death' made the news, but she said I wasn't insured for that much. For 2 Oku, she said, she wouldn't have second thoughts about knocking me off, but not for a lousy 2 mill. Go figure...

[Samurai_Jerk]

as a pussy-whipped pathetic Gaijin papa, my wife has final say. She is convinced (even though I exercise 'hard' 4 days a week) that I am going to die before her. I just was informed at dinner tonight that she (i.e. me paying) had just upped my life insurance premiums for into a higher payout bracket.

Reading stuff like this makes me cringe.

[Iraira]

I agree in full with what Chuck said, but as a pussy-whipped pathetic Gaijin papa, my wife has final say. She is convinced (even though I exercise 'hard' 4 days a week) that I am going to die before her. I just was informed at dinner tonight that she (i.e. me paying) had just upped my life insurance premiums for into a higher payout bracket. I asked her what she would "knock me off" for and what she intended to tell the NHK reporters if my 'suspicious death' made the news, but she said I wasn't insured for that much. For 2 Oku, she said, she wouldn't have second thoughts about knocking me off, but not for a lousy 2 mill. Go figure...

I would advise against standing too close to the tracks at the train station, especially if the wife is standing behind you and starting to mumble "Cha-ching! Big bucks...come to momma..need a new bag and a pair of pumps." Musta known at least a dozen guys that this happened to........

[kusai Jijii]

Reading stuff like this makes me cringe.

Oh, you're the Man, SJ. You're the Man. Pitty you dont have a fuckin' sense of humor.

Fuck wit.

[Samurai_Jerk]

Oh, you're the Man, SJ. You're the Man. Pitty you dont have a fuckin' sense of humor.

Fuck wit.

It seems like you're the one without a sense of humor.