bobby12 0 Posted November 14, 2009 Share Posted November 14, 2009 Anyone here have it? Now we have decided to stay here long term we are looking into it. I was a bit surprised by the cost, we are being quoted about 14000en/month, in return for 1man nyuuin / 2000man death kind of coverage. When I do some rough calculations it feels like the ins. company is making ridiculous profit. Im wondering if there is anothe rother way to get better coverage than what shakai hoken offers without lining the pockets of shareholders. Link to post Share on other sites
NoFakie 45 Posted November 14, 2009 Share Posted November 14, 2009 I've never understood why you'd want 5000 or 10000 a day when you go into hospital if they are not covering your medical bills. I suppose the idea is lost income, but I'd be more worried about the bill. Conversely 2000 man after death isn't much if you have kids to educate and a mortgage to pay. Even if you're renting, you'd need a 4% (tax free) return on it just to pay a 70,000 a month rent without burning through the actual funds. Link to post Share on other sites
HelperElfMissy 42 Posted November 14, 2009 Share Posted November 14, 2009 Can ex-pats get life insurance in their home countries that covers them for while they are in Japan? Link to post Share on other sites
bobby12 0 Posted November 14, 2009 Author Share Posted November 14, 2009 The 5000 or 10000 is to cover hospital expenses. Even after shakai hoken is applied, they reckon it costs 15000en a day if you get hospitalised. So even with the ins. you still end up a little out of pocket, if they are to be believed. But I think if you pay over X (around 10man) in medical costs per year, you get some of it back. I had them ins. saleswomen over this morning. I basically tore them a new one, politely of course. I said I couldnt see the value in what they were offering, I showed them my calculation and they couldn't give me an answer: - 100 30yr olds paying 14000yen/month each for 10 years = 16800man INCOME - Realistically only 1 of those is going to die (2000man) and a small number may get hospitalised (say 1000man) = 3000man OUTGOING Therefore they are making 13800man of those 100 30 year olds. Of course they have their costs, have to make a profit etc, but to me this seems an unfair profit margin. On top of that, I said I dont smoke (large % of JPs do) or have dangerous lifestyle: never near busy roads, whitecollar sat on my arse job, so they should factor that into their costs. They said they dont consider any details like that, its all on age/sex only! Link to post Share on other sites
Jynxx 4 Posted November 14, 2009 Share Posted November 14, 2009 I'm a bit confused here, but curious if the system has changed. Isn't life insurance where your spouse get's money when you die, and you get compensation according to the grade of injury sustained, and when you have paid till a certain age (or for a period) the insurance company starts paying you monthly till you die or you get lump sum at a certain age - something like that? That's the concept of life insurance in general, there no? Are life insurance combined with medical (hospital) insurance these days? I think the hospital cover was very basic with life insurance when I was there, but a lot less than you have been quoted. It was like, cheap, easy to get into and gives you basic sense of security for every one including low income earners sort of thing. Mind you that was a long time ago- haven't talked about insurance with anyone there for a long time. Not something we talk about. Can you get separate covers? for life and medical? I'm sure you can get a better deal if you go through a broker and individual risk assessment. I'm not one for insurance until I came to Germany. Every one is into it here ... Link to post Share on other sites
bobby12 0 Posted November 15, 2009 Author Share Posted November 15, 2009 Yes, usually it is like that, 4000yen or 8000yen a month and lower return if you die. But a payment for hospitalization is usually included in most plans. If we didnt have kids we wouldnt bother with it at all and just save the money instead. Link to post Share on other sites
Guest Posted November 15, 2009 Share Posted November 15, 2009 I told them im not going to pay it,, (and it is kind of compulsory to pay it if you earn an income and pay tax,) until i was a permanent resident. At a certain age they will pay you XXX yen per month,, and whats the point if youre not a resident.. They didnt seem to keen to ship the money to my overseas bank account.. So i told them to sod off.. To me it seems a bit too steep every month as a single person with no dependants and im not a health risk.. Link to post Share on other sites
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