My wife, 28, is paying around ¥12,000 per month for life insurance with a 9m yen payout as well as hospitalization benefits. No existing conditions.
Half the payout is in USD, with both the monthly payment and payout in fixed USD values so the amount she pays and the payouts are variable based on exchange rate.
I’m not sure what the term is, but it’s also the type of insurance where there’s a payout at the end of the term (age 60) if nothing has been used.
She signed up through a “family friend”, who I think resells or is an agent for MetLife. This is a total scam, isn’t it? The payout seems low, and the premiums high.
Not only that, they have a 40,000 yen cancellation fee which reeks of predatory behaviour to me.
Thoughts?
by MoboMogami