Aflac 2006 Annual Report Download - page 14

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Aflac Japan’s Products:
Defender of Financial Health
For many years, Japan has struggled to
provide health care to an aging population.
Copayments on Japan’s national health care
system have tripled over the last 11 years for
most of the population. And consumers are
paying more out of their own pockets for
health care than ever before.
It is against this backdrop that the popularity
and value of our products have emerged.
Aflac specializes in developing products that
provide “living benefits,” as opposed to
traditional life insurance products that only
pay benefits upon a policyholder’s death. In
2006, we combined a traditional life product
with one that pays living benefits when we
introduced a groundbreaking new product
called WAYS. WAYS allows policyholders the
option to convert a portion of their life
insurance to medical, nursing care, or fixed
annuity benefits to better suit their needs
and circumstances at retirement age. Since
its introduction in January 2006, WAYS has
been enthusiastically received by Japanese
consumers. Due to the success of WAYS,
sales in the ordinary life product category
increased at a strong rate throughout 2006.
In June 2006, we began selling a new cancer
plan aimed at existing cancer insurance
policyholders. This new product provides
additional benefits for inpatient and
outpatient care. Also in June 2006, Dai-ichi
Life began selling a new cancer product we
designed that offers enhanced levels of
coverage. As a result, new sales from cancer
insurance products were stable in 2006. We
are convinced that the affordable products
Aflac provides will continue to be a vital
solution to the health care burdens
consumers face in Japan.
Aflac’s Strong Brand
Champions Market Leadership
Along with the quality and value of our
products, we believe effective advertising
helps Aflac stand out in a crowded market.
Over the last four years, Aflac Japan has
continued to enhance its strong connection
with consumers through Aflac Duck
commercials, which are just as popular in
Japan as they are in the United States, and
they’ve provided a similar level of brand
awareness. According to a survey by CM
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