Protecting ourselves and our families against the unfortunate consequences of unexpected events is widely considered to be the primary step(better word) of financial planning. Living overseas adds an extra element to the equation, as individuals need to ensure they are sufficiently covered no matter which country they happen to reside. Our experienced advisors at Tyton can sit down and discuss the different types of cover available to you, whether it be health insurance, life insurance, or critical illness insurance. And within each of these three categories, there are a number of different options and levels of cover available. We here at Tyton can help determine which are the most applicable to your specific situation. Applying for life insurance in Japan does not have to be difficult with many international insurance companies offering global cover with all materials available in English.
Critical Illness Insurance – Modern medicine in continues to astound the world in its ability to save life where in the past there was little to no hope. This is, however, a double-edged sword. Surviving strokes, heart attacks, cancer, loss of limb/disablement, can often leave us with the inability to work, or perhaps work but not earn as high a salary as previously possible. Critical illness insurance would enable you to receive substantial financial support in the event of such as scenario as described above. If you are interested in learning more above this newer form of coverage, please feel free to contact an advisor at Tyton today.
have you considered…..
- How your family will survive financially without your income…?
- Who, and how much inheritance tax your family will be expected to pay as a result of your death?
- If you are covered by a Japanese provider, what happens if you die abroad…?
- What specific plans are available for people not living in their home country who are likely to travel…?
- That the average life insurance policy in Japan offers on average 30% of the required coverage per policyholder…?
- That seemingly bargain insurance policies often have 3 clauses written into the contract which might leave your family with nothing when you die…?
Living overseas often means at times being without proper health insurance coverage. Sometimes an individual is on a compensation package that does not include enrollment in the National Health Insurance program (such is often the case with contract-employees becoming the new norm). Or perhaps someone owns their own business overseas and chooses not to enroll in government insurance programs. We are able to advise you on health insurance options which are internationally portable, and provide varying levels of cover that are able to be tailored to your specific needs or budget. In addition, there are plans specifically designed for those living and working overseas as Teachers, and we would be happy to work together with you to decide on a plan most suitable to your requirements.
have you considered…..
- What happens when the treatment you require is not covered by the National health insurance system…?
- What limitations apply to Cancer treatments in Japan under the National health system?
- What happens if you become sick and/or require medical assistance whilst outside of Japan…?
- What happens if one of your children becomes sick…?
- What the deductible threshold is and how it could leave you with a large bill pending on-going treatment…?
- The limitations of outpatient treatment via the public health system…?
- The limited access to English-speaking specialists who accept the National insurance card by means of payment….?
An often “I’ll get to that later” or even overlooked entirely facet of home ownership is insuring the mortgage. For example, if something were to happen to the main income earner in a family, whether through death or disability, and the income is no longer coming in each month, how will the family continue to pay the mortgage? Selling off the home might not be a great option either, as market prices could be unfavorable for many years at a time or it could be difficult to sell. In addition, if they sold the house, where then would the family live?
Many home loans here in Japan include insurance on the mortgage (if the main earner were to die, the mortgage is forgiven and the family will then own the home outright). However, not all of them do… In addition, outside of Japan it is quite rare to find insurance bundled with the mortgage like this. Is your family protected against an enormous mortgage looming over them in the event of your death or disability?
Contact us at Tyton to learn more about the practical applications of mortgage insurance.