Characteristics of risks that we seek to be prepared for in the future are constantly changing in step with various changes in society, such as acceleration of low birth rates and aging population, and advances in medicine. The T&D Life Group will help its customers prepare for the future through the development of innovative insurance products and services, staring at the changing risk characteristics of the future.
Number of People Certified as Requiring Long-term Care by Long-term Care Level
- Source: Monthly Report on the Status of the Long-term Care Insurance System, Ministry of Health, Labour and Welfare
As the average life expectancy is extending, the number of people certified as requiring long-term care is also increasing every year.
Message from a Product Development Staff
The Road to the Launch of New Products
The number of people who require nursing have grown as a result of the aging population, and the risks associated with nursing have become more familiar.
In fact, our questionnaire survey conducted in fiscal 2014 revealed that a large number of people were concerned about the nursing problems they and their family members will be facing in the future.
Meanwhile, not many people have been enrolled in private-sector nursing care insurance. Compared with the insurance coverage for injury and illness, nursing care protection is not sufficient.
In light of these social circumstances, we anticipated that there would be stronger needs for nursing care protection products from customers going forward. That is why we developed two types of nursing care protection based on different product concepts. Together with a new service that comprehensively supports nursing care, these two types of products were launched on October 1, 2015.
Our Aspirations
The two new nursing care protection products were developed based on different product concepts. For cases in which customers require nursing care, the first product will cover the living expenses of the customer and his or her family members, whereas the second product will cover the costs associated with nursing care.
We developed these products with the aspiration that, should our customers require nursing care, they would be able to receive nursing care in relief, without having to feel the financial burden.
Private-sector nursing care insurance products provide a means of supplementing Japan's public Long-term Care Insurance System, and so they will play a significant role in contributing to society.
Looking ahead, we will continue working to develop products that address changes in the social landscape such as low birth rates, an aging population, and advances in medicine.
Kousuke Sasaki
Associate Manager, Product Development & Planning Department Daido Life Insurance Company
