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CHAPTER 3

Life Insurance Q&A for Customers

PRODUCTS FOR INDIVIDUALS

Q. What kind of insurance products do you have for individuals? ................................52

FROM APPLICATION TO CONCLUSION OF A POLICY

Q. I would like to know about the procedures upon enrollment..................................56

PROVISION OF INFORMATION DURING THE TERM OF A POLICY

Q. I would like to verify the types of insurance policy that I have and the content of my policy.................................................................................................58

SUBMITTING INSURANCE CLAIMS AND BENEFITS

Q. How do I file a mortality insurance claim? ..................................................................60

Q. How do I file a claim if I am hospitalized and/or have surgery? ...............................60

Q. I was told that my insurance claims and benefits were ineligible for payment. Who should I contact? .............................................................................61

STRENGTHENING THE UNDERWRITING AND INSURANCE CLAIMS AND BENEFITS SETTLEMENT SYSTEM AND EXPANDING EXPLANATION

Q. What is the system for the regular payment of insurance claims and benefits? ...................................................................................................................62

INSURANCE CONSULTATION AND INQUIRIES

Q. Who can I contact and address any inquiries to regarding insurance?...................65

Q. What is Nippon Life’s solicitation policy? ...................................................................70

Q. Will my personal information be safe? ........................................................................71

TO CORPORATE MANAGERS

Q. I am the owner of a company. How can I offer improved benefit plans toexecutives and employees? ...........................................................................................72

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PRODUCTS FOR INDIVIDUALS

■ Nippon Life Product LineupNippon Life strives to offer services and develop products with primaryemphasis on providing truly useful coverage for customers.

The areas that customers want to prioritize when choosing coveragevary according to their life stages. Furthermore, lifestyles have beendiversifying in recent years; people are getting married later in life andan increasing number of people are remaining single, leading to growthin the number of households where more than one member holds downa job.

To respond thoroughly to such diversifying customer needs, NipponLife has reviewed and, where appropriate, improved its product lineupof death coverage, medical and nursing care coverage, savings andretirement coverage, coverage for children and other products. Wecombine these to supply customers with comprehensive, well-balancedcoverage according to their needs.

Q What kind of insurance products do you have for individuals?

Nissay Insurance AccountsCustomers are able to subscribe to services free of charge, andNippon Life considers Nissay Insurance Accounts to be the center-piece of its product and service strategy as a service that consoli-dates life and non-life insurance, including mortality, medical andsavings coverage, under a single umbrella. Thus, customers caneasily confirm their insurance holdings and pinpoint areas wherethey might have either too much or too little coverage. It also sim-plifies the procedures that customers have to go through. Further-more, premiums are discounted when policies are consolidated.

Nissay Insurance Accounts

Discounts Based on Transactions

Death coverage Medical coverage Nursing care coverage

Non-life insuranceRetirement coverage

A more beneficial, comprehensible and convenient way

Discounts for Non-Life Insurance Accounts

Higher Dividends for Longer Participation

Naruhodo Tokuten Services for Policyholders

■ Life Insurance Products

In October 2008, Nippon Life launchedthe Comprehensive Medical Rider, amedical rider that included hospitaliza-tion and surgical coverage. This riderhas since been upgraded to the MiraiSupport series, a comprehensivemedical product with the aforemen-tioned medical rider attached. In addi-tion to providing coverage in case ofunforeseen circumstances for one’s whole life, this product offers alump-sum payment for the designated three dread diseases and nursingcare coverage over a fixed period, thereby providing future support forthe customer and his or her family by ensuring full hospitalization andsurgical coverage.

Provides for serious diseases and nursing care• Dread disease term rider• Nursing care term rider, etc.

Provides for the unexpected• Whole life insurance• Term insurance rider, etc.

Provides for hospitalization, surgery, etc.• Comprehensive medical rider• Hospitalization due to cancer rider, etc.

Upgraded

Upgraded

Upgraded

NEW

Insurance premium payment term

PolicyEnrollment

Upgraded Insurance premium payment term expires

Diagram

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This product provides coverage from the time a child first enters schoolthrough to higher education and graduation. It provides for the day-to-day healthy growth of children, special payments timed to the child’sentering school and graduating as well as an education annuity in theevent that something unexpected should happen to the policyholder,exempting further premium payments.

'Single-Payment ProductsFor customers with funds on hand, by paying an insurance premiumequivalent to the full amount of their insurance policy at the time of

application, they obtain a greater asset formation benefit than if they payat fixed intervals.

Whole Life Insurance Ex (Single Payment) My Stage Ex

A product that combines asset formation capability with coverage overthe insured’s whole life.

Nissay Endowment Insurance Ex (Single Payment)

A product that ensures peace of mind coverage in addition to asset for-mation with term coverage.

Nenkin Meijin Ex (Single Payment)

An annuity that systematically compiles funds to ensure comfort in thepost-retirement years.

■ Non-Life Insurance Products

Nippon Life sells non-life insurance as an agency of Nissay DowaGeneral Insurance Company Limited. Long-term automobile insuranceLong extends the coverage period of our existing Pittato-Kun andNewF·PAP automobile insurance to three years (or two years) and doesnot require annual renewal. The policies provide a number of advantages

to customers. The total of insurance premiums are lower than those forpolicies that must be renewed annually and, even in the event that theinsured is involved in an accident, the insurance premium established atthe time of policy application does not change.

Launched in April 2009, My Medical EXoffers medical coverage that meets themedical needs over a wide-rangingperiod from youth to advanced age. Thismedical insurance product provides fullcoverage, including for hospitalizationand surgery, that is simple and easy tounderstand. Through the addition of theSerious Disease Rider, coverage is pro-vided for the three dread diseases, serious designated lifestyle dis-eases, transplants and other conditions.

This is a long-term life insurance policy for company owners with coverage lastinguntil the age of 100. It provides for businessinsurance capital in cases where unfore-seen circumstances affect the owner andalso serves as a provision for retirementbonus at the time the owner steps down.

An annuity that systematically compiles funds to ensure comfort in thepost-retirement years. This policy helps policyholders put aside funds tocover living expenses during the gap between retirement and becomingeligible for public pensions. Supplements public pensions and helps putaside funds for post-retirement life.

✳The above material gives a product (riders) overview and does not include all information related to the policy. When considering a policy, please be sure to confirm by readingpamphlets, policy guides, reminders, Policy Clause—Bylaws/Terms and Conditions and other materials.

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Type of Insurance Summary Product Name

Whole life insurance* Insurance that guarantees coverage over the insured’s whole life Nissay Whole Life Insurance EXWhole Life Insurance Nice Day EXWhole Life Insurance Seicho-Nikki EXWhole Life Insurance 1st Run EXWhole Life Insurance My Stage EX

Term life insurance* Insurance with death protection for a set period Nissay Term Life Insurance EX

Whole life insurance Insurance that combines term coverage for a set period of time with Whole Life Insurance with Term Rider Long Run Mirai Support EXwith term rider* coverage that continues for the insured’s whole life Whole Life Insurance with Term Rider Nice Day More Mirai Support EX

Whole Life Insurance with Term Rider Kenkou Jyujitsu Sengen Mirai Support EX

Whole Life Insurance with Annuity Certain for Family Fureai Kazoku Mirai Support EX

Whole Life Insurance with Term Rider My Anniversary Mirai Support EX

Ikiru Chikara* Insurance that combines term coverage and medical whole life insurance Ikiru Chikara Mirai Support EXfor illness, injuries and cancer Ikiru Chikara Master Class Mirai Support EX

Ikiru Chikara Frau Mirai Support EX

Medical insurance* Insurance that covers hospitalization and surgery My Medical EX

Cancer insurance* Insurance that guarantees various types of coverage for life if the insured Nissay Cancer Insurance EXis diagnosed with cancer

Main Policies

• Coverage Combining Protection and Saving Components

• Retirement Coverage

• Coverage for Other Needs

Type of Insurance Summary Product Name

Endowment insurance* Insurance with equal insurance claim payments for death, serious disability Nissay Endowment Insurance EXor upon policy maturity

Endowment insurance Insurance that combines death protection for a set period with Endowment Insurance with Term Rider Nissay Kurashi no Hoken EXwith term rider* endowment insurance Endowment Insurance with Term Rider Little Anniversary EX

Type of Insurance Summary Product Name

Annuities* Insurance that pays an annuity when the insured reaches a specified age Individual Fixed Annuity Nenkin Meijin EXIndividual Fixed Annuity Kenkou Support Nenkin EX

Products sold at financial institution service countersAnnuities with variable Adds to annuity resource coverage while promising a set yield, Nissay Variable Accumulation Rate Annuitiesaccumulation rate provides annuity insurance with timely single payments that (fixed interest rate and variable interest rate types)

reflect changes in market interest rates

Equity-indexed annuity A single-payment annuity with single premiums and mortality Nissay Equity-Indexed Annuitybenefits of the same value that provides the minimum futureannuity resource coverage and added annuity resources depending on the equity index rate of increase

Single-payment whole life Single payment whole life insurance with an accumulative rate Nissay Variable Accumulation Rate Type Single-Payment Whole Lifeinsurance with variable that moves in response to market interest rate Insurance (yen or U.S. dollar denominated)accumulation rate

Type of Insurance Summary Product Name

Term life insurance Insurance paying survival benefits every three years in addition to Term Life with Survival Benefit Insurance Nissay BIG YOU EXwith survival benefit death/serious disability coverage Term Life with Survival Benefit Insurance Nissay Melody EX

Juvenile insurance Insurance providing special payments when the child reaches a specified age Juvenile Insurance Genki EXor a specified education annuity if the policyholder dies

Notes: 1. EX series products:Policies with policy dates after April 2, 1999, that were also sold at the start of Nissay Insurance Accounts.All features of the Nissay Insurance Accounts apply, namely discounts based on transactions, higher dividends for longer participation (only Nissay Cancer Insurance EX pays no dividends) and Naruhodo Tokutenservices for policyholders.

2. Products denoted with * have a Key Man plan (when policy is in the name of a corporation) that provides a death benefit if the insured executive dies, as well as a fund for the executive’s retirement benefit.

■ Overview of Main Products for Individual Customers (as of July 2009)

• Death Coverage / Medical Coverage

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Types of Insurance and Additional Riders

By attaching riders to a main policy, insurance coverage can be designed to meet the needs of each individualcustomer. (When a rider is added, there is a prescribed limit to the addition of riders according to age and thevariety of riders that can be added at any one time. Some riders may not be added, depending on the ridersthat the policyholder has already attached and the method of payment for the main insurance policy to whichriders have been added.)

Please refer to the “Guide to Types of Insurance” or the Nippon Life website for information about typesof insurance and rider additions.

➡ http://www.nissay.co.jp/okofficial/kojin/syouhin/tokuyaku/pdf/tokuyaku_huka.pdf (Japanese only)

Guide to Types of Insurance

Name of Rider Summary

Serious Disease Rider Rider providing coverage for the three dread diseases, serious designated lifestyle diseases, transplants and other conditions

Dread Disease Term Rider Rider providing coverage for the three dread diseases: designated malignant neoplasm (cancer), acute myocardial infarctionand cerebral stroke

Recurrence Dread Disease Term Rider Rider providing coverage for the recurrence of the three dread diseases: designated malignant neoplasm (cancer),acute myocardial infarction and cerebral stroke

Illness & Disability Term Rider Rider providing coverage for specified disability due to illness

Nursing Care Term Rider Rider providing coverage for specified conditions that require nursing, such as being bedridden

Insurance Premium Waiver Rider Rider that waives premium payments in one of the following situations: one of the three dread diseases,specified disability due to illness or specified condition requiring nursing care

Living Needs Rider Rider providing full or partial mortality insurance claims when the insured is determined to have six months or less to live (the amount to be paid is the amount of insurance selected by the policyholder minus an amount equivalent to six months of interest and premiums)

Riders

•Accident and Medical Riders

•Riders Focused on Death Protection

Name of Rider Summary

Accident Rider with Extra Premium Rider providing coverage for death/specified serious disability due to accident

New Injury Rider Rider providing coverage for death/specified disability due to accident

Limited Injury Rider Rider providing coverage for specified injuries (broken bones, joint dislocation, severed tendons) due to accident

Comprehensive Medical Rider Rider providing coverage for specified surgery and hospitalization from one night and two days due to disease or accident

New Hospitalization due to Cancer Rider Rider providing coverage for specified hospitalization, surgery and post-hospitalization care directly related to cancer

New Juvenile Hospitalization due to Accident Rider α Rider providing coverage for specified hospitalization of a child due to accident that lasts five days or more

New Juvenile Hospitalization Medical Rider α Rider providing coverage for specified surgery on a child due to illness or accident, and for specified hospitalization due toillness that lasts five days or more

Name of Rider Summary

Term Insurance Rider Rider providing coverage for death/specified serious disability for a certain period

Term Life with New Survival Benefit Rider Rider paying survival benefit every two or three years in addition to coverage for death/specified serious disability

Term Rider Annualized Payment Rider paying annuity for a set period for death/specified serious disability

✳The material on pp. 54 and 55 gives a product (rider) overview and does not include all information related to the policy. When considering a policy, please be sure to confirm byreading pamphlets, Policy Guides, Reminders, Policy Clause—Bylaws/Terms and Conditions and other materials.

• Living Benefit Riders

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FROM APPLICATION TO CONCLUSION OF A POLICY

Q I would like to know about the procedures upon enrollment.

General procedures and information disclosure at the time of enrollment in an individual insurance policy are mainly as follows.

Considering a Plan

Disclosure

Application

Explanation of Important Matters

and Demerit Information

Payment of First

Insurance Premium

Tell us what kind of coverage you want.Examine the plans by referring tothe prospectuses (policy guides)and product pamphlets.

Product pamphlet

Reconfirm that the content of theproduct you are applying for is whatyou actually want.Fill out the Plan Confirmation Document and reconfirmbefore applying that the product is what you really want.We ask that the policyholder or insured party fill out theforms themselves and affix their personal seal to theapplication form. We also ask for them to certify with theirpersonal seals that they have received the EspeciallyImportant Notifications and Policy Clause—Bylaws/Termsand Conditions. (See p. 57.)

Plan Confirmation Document Policy Clause—Bylaws/Termsand Conditions

Upon completing the application, we ask customers to make their firstpremium payment.We accept cash, credit and debit card payments.

Before proceeding with the applicationprocedure, we ask for yourconfirmation.To prevent unreasonable loss for customers due to a lackof information, Nippon Life has prepared a pamphletentitled Especially Important Notifications* that explainsitems we would especially like customers to confirm, suchas product details, disclosure obligations, examples ofwhen insurance claims and benefits cannot be paid andother items. The pamphlet is given to customers alongwith Policy Clause—Bylaws/Terms and Conditions.

*Especially Important Notifications includes prospectuses(policy guides) and reminders.

Prospectuses (policy guides) Reminders

Provide accurate information aboutyour health, occupation and others.When the insured is filling out the disclosure documentwith information about his/her medical history and currentstate of health, or when answering questions posed by adoctor designated by Nippon Life during an examination,please provide accurate and complete answers.

Example of completed disclosure form

Duty of Disclosure and Penalties forNondisclosurePolicyholders and insured persons arerequired to disclose accurate and completeinformation regarding their health condition.Please be aware that in the event that facts arenot disclosed or inaccurate information is pro-vided, whether intentionally or by gross negli-gence, the policy or rider may be cancelled onthe grounds of nondisclosure, and Nippon Lifemight not pay insurance claims and benefits.

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Decisions about Underwriting

(at Nippon Life)

Conclusion of a Policy

Commencement of Policy CoverageOnce a customer agrees to have Nippon Lifeunderwrite their insurance policy, policy cover-age commences from the moment of the firstpremium payment and upon the completion ofthe disclosure process.

Confirmation of Policy ContentNippon Life employees or parties entrusted byNippon Life may phone or visit policyholders,the insured and beneficiaries in order toconfirm the content of application forms, dis-closure forms or content of requests for insur-ance claims and benefits payments. Regardingthe medical condition of the insured, NipponLife may also make inquiries and otherwiseseek confirmation through the doctor whoexamined the insured.

Life insurance is a system wherein a large number ofpeople, through insurance payments, mutually support oneanother. In order to maintain fairness between policyhold-ers, decisions about underwriting are made based uponthe content of the application and disclosure forms.

Confirmation of Insurance CertificatesOnce a policy is underwritten, Nippon Life sends theinsurance certificate to the policyholder. We ask the cus-tomer whether or not there are discrepancies betweenthe information provided on the insurance certificate withthat provided at the time of application. In the event thatthe policy content differs, or if you have any questions,please return the “Policy Content Confirmation Request”form that was enclosed with the insurance certificate bypost or contact Nippon Life directly.

• Under what is known as the cooling off system, applicants and poli-cyholders may withdraw their applications or cancel their policiesby submitting a written request within eight days from the laterdate of either the application date or the date they received thereceipt for their first insurance premium. In this case, writtenrequests must be postmarked within eight days of the above-mentioned period and sent to the sales offices or Life Plazas thathandled the application or policy.

• In the event that the application for the policy is withdrawn or thepolicy is cancelled, the amount that was paid shall then be returnedin full.

• The cooling off period does not apply after an examination by adoctor designated by Nippon Life or when the customer is a corpo-rate client, or to policy changes once they have taken effect (anaddition or increase of coverage amounts for riders, etc.) or topolicy reinstatements.

Cooling Off System

Policy Clause—Bylaws/Terms and Conditions contain critical infor-mation about the policy and various procedures. As such, it is anextremely important set of documents that must be consulted notonly during the application process, but during the term of the policy.Terms and conditions of the policy dictate the agreement from policy

enrollment to expiration and contain information about claims receiv-ing as well as the processing of premium payments and also explainabout the invalidation of the policy in the event of premium nonpay-ment and the handling of policy cancellations.

After enrollment, keep Policy Clause—Bylaws/Terms and Conditions within easy reach.

To avoid invalidation of your precious policy...We will send you, as the policyholder, a notification inform-ing you of uncollected premiums. In the event that nopremium payment is made during the grace period, NipponLife will be reimbursed for the missing premiums throughthe Automatic Premium Advance System. (In some cases,depending on the type of policy and the number of yearsthe policy has been in force, we may be unable to obtainreimbursement.)

In the event that the policy is invalidated, we are unable to pay insurance claims and benefits.“Invalidation” means that the policy loses its validity when no premium payment is made after the grace period for premium payment has ended.

If your policy is invalidated...We will send you, as the policyholder, a notification informing you of the invalida-tion. The policy will be either “reinstated” or “cancelled.”Reinstatement: This means returning the policy to its original pre-invalidated

state within three years (variable insurance and medical lifeinsurance [individual type] within three months) of the date ofthe invalidation (including the invalidation date) based on pre-scribed procedures. All unpaid premiums must be paid by thetime of reinstatement. In some cases, reinstatement is not pos-sible due to the health condition of the insured.

Cancellation: If invalidated policies have surrender benefits, they will be paid.

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PROVISION OF INFORMATION DURING THE TERM OF A POLICY

Q I would like to verify the types of insurance policy that I have and the content of my policy.

The term of a life insurance policy is long. To ensure that insuranceclaims and benefits are filed for without error, it is important to confirmthe content of the policy during its term and that the insured person and

the beneficiary (or designated proxy, see p. 60), and not just the policy-holder, understand the policy content. In this section, we will tell youhow to confirm policy content during the policy’s term.

Sending Policy Details Reminder by MailOnce a year, we provide customers with easy-to-understand informationregarding their existing insurance coverage as well as the financing andservices available to them based on the policies in which they areenrolled.<In the case of individual policies>• For customers enrolled in a single policy, we send notices approxi-

mately one month after the anniversary month of the policy.

• For customers enrolled in multiple policies, information is summa-rized in one notice and sent in the earliest month after April followingthe month of initial policy enrollment.

In each case, for customers who enrolled in policies during April orMay, such information is sent in July due to dividend-related matters.

Anniversary Month of the Policy: After enrollment in a policy and during the policy’sterm, the anniversary month of the policy marks the day of initial policy enrollmentthereafter.

✳Customers with Nissay Insurance Accounts can view all the details of their entire insurance policy at our website at “Special Policyholder Services (Policy Details Inquiry).” (See p. 59.)

Address and list of policies taken outStructure of the Nissay Insurance

Accounts, fund informationPolicy information (Example: Whole life

insurance with term insurance rider) Policy information (Example: Annuity)

1

2

3

4

For customers enrolled in multiple policies, information is summarized in one notice

Notices created for each single policy

Lists the life and non-life insurance policies taken out

Lists the various financing services that are available to cus-tomers (amount of accumulated dividends, deferred specialpayment, deferred insurance amount, policy loan limits, etc.);Shows the amount and interest rate in the event that policyloans or insurance premiums are reimbursed

Explains policy content, including coverage periods and cover-age amounts, using easy-to-understand diagrams

Shows existing policy and coverage content

1

2

3

4

2

Notices of Policy Details (For individual policy)

Nissay Total Partners Deliver:Information on “Consistent Protection. Superior Services.”Policies that customers are enrolled in are presented in an easy-to-understand format using color-coded diagrams. Customers can also confirm the surrender benefits and policy loan limits as of the dateof confirmation.

Information on “Consistent Protection. Superior Services”

• Coverage amount/Coverage content: The amount of insurance claims and benefits that will be paidand for what purpose

• Coverage/Renewal period: How long coverage is for• Insurance premium: How much has been paid and how much needs to be paid after policy renewal• Services and riders that are available free of charge, introduction to procedures and their use

2

4

3

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Other Important NoticesIn addition to the preceeding, Nippon Life provides a variety of noticesincluding Certification of Life Insurance Premium Deduction, Notice ofChange in Discount Based on Transactions and others. Each of these are

important notices, so we kindly request that our customers carefullyconfirm the content.

■ Provision of Information upon Conversion of Policies

When a customer is considering a policy conversion, Nippon Lifeexplains how to review policy coverage using handouts of ComparativeProspectuses that describe policies before and after conversion. We askthat you take out a policy only after you have fully understood its content,terms and conditions.

■ Confirmation of Policy Content via the InternetCustomers can conduct a variety of procedures on the Nippon Lifewebsite, such as confirming their policy content, changing addressesand conducting financial transactions, including policy loans.

We are expanding the number of procedures that may be easilycompleted over the Internet outside of regular business hours of NissayTotal Partners, service counters and call centers.

Comparative Prospectus

Available Services• Inquiries regarding the contents of life insurance and non-life

insurance policies• Change of address or telephone number• Change in name (some procedures for family name changes, etc.)• Change of premium payment method (number of payments)• Requests to change accounts through which premium transfers are

made

• Reissue of Certification of Life Insurance Premium Deduction• Registration or change of PIN number for Nissay Insurance

Accounts• Withdrawals for policy loans, accumulated dividends, deferred

insurance payments, etc.• Repayment of policy loans*• Payment of premiums after the initial premium,* etc.

*Customers may pay by bank transfer from a Net banking service or, upon completion of online procedures at the Nippon Life website, at a convenience store.

✳Certain procedures can be carried out using the Internet via mobile phones. (See p. 68.)

• Available Net Banking ServicesThe Net banking services of the following banks may be used: Japan Net Bank,Limited, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Bank ofTokyo-Mitsubishi UFJ, Ltd. and Japan Post Bank Co., Ltd.

• Available Convenience StoresThe following convenience stores may be used: Seven-Eleven Japan Co., Ltd.,Lawson, Inc. and Seicomart Company, Ltd.

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SUBMITTING INSURANCE CLAIMS AND BENEFITS

In the event of hospitalization, surgery or other unforeseen circumstances that may warrant the payment of insurance claims or benefits, thefirst thing to do is to contact us either through your Nissay Total Partner (Sales representative) or by visiting a nearby service counter ortelephoning one of our call centers.

To prepare for the unexpected, please confirm the details of your policy and make sure that the insured person and the beneficiary (or desig-nated proxy) also understands the details of the policy. (See p. 58.)

In the event that you wish to submit claims for payment against more than one policy or rider, you must submit a separate claim for each policyand rider. The documents required vary according to the nature of the payment request. Therefore, please confirm that you are providing the correctforms in advance of submitting your claim.

Q How do I file a mortality insurance claim?

The beneficiary himself or herself should file a mortality insurance claim.

Items that must be communicated when submitting a claim:• Insurance certificate number (all certificate numbers in the case of multiple policies)• Possession or non-possession of insurance certificate• Name of insured person• Date and cause of death (name of illness in the event of death due to illness, circumstances of accident in the event of death due to accident) • Name of beneficiary of mortality insurance claim, name of person filing the claim, relationship to the insured person and contact information• Confirmation of hospitalization and/or surgery before death

Q How do I file a claim if I am hospitalized and/or have surgery?

The insured person should personally file any claim for hospitalizationand/or surgery benefits. In the event of the death of the insured, his/herlawful heir(s) should submit the payment request. However, in the

Items that must be communicated when submitting a claim:• Insurance certificate number

(all certificate numbers in the case of multiple policies)• Name of policyholder • Name of insured person• Name of person who was hospitalized and/or underwent surgery• Reason for claim (illness, traffic accident, other accident)• Content of claim (hospitalization, surgery, outpatient services, etc.)• Date of hospitalization and discharge• Confirmation of outpatient services following discharge

(in the event that a claim is being made for outpatient benefits)• Date of injury (in the event that a claim is being made for hospitalization

due to accident benefits)

event that such heir(s) is (are) unable to submit a payment request oftheir own volition, a designated proxy may submit the claim.

The “Self-Check Sheet” helps you confirm the coverage that you require ahead of time. (See p. 61.)

The designated proxy system is a system whereby a desig-nated proxy may request the payment of benefits on behalf ofthe beneficiary in the event that the beneficiary is unable torequest payment of his/her own volition, or in the event thatcircumstances designated by policy clauses occur. A desig-nated proxy must be selected in advance through prescribedprocedures.

This system may also be applied to your existing policy.Because the registration of a proxy must be performed inadvance, please bring your insurance certificate and your offi-cially registered personal seal to your Nissay Total Partner(sales representative) or local service counter.(Service not applicable to corporate policies)

Have you completed the procedure for designating a proxy? (Designated proxy system)

Scope of people who may be designated (insured personmust agree)• Spouse, direct kinship or sibling listed on the family register of the

insured person in the main policy• Relatives within the third degree of kinship who reside with or who

are listed as dependents of the insured person on the main policy

On behalf of the insured person (in the case of juvenile insurance, thepolicyholder), the designated proxy may apply for the insurance claims,annuities and benefits for which he or she is the beneficiary.(For example) •Serious disability insurance claims •Rider providingcoverage for the three dread diseases •Individual annuities•Hospitalization benefits, etc.

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Customers may request copies from their sales representative Nissay Total Partner or from their local service counter.The Following Items to Help You Apply for Insurance Claims and Benefits are Available

Self-Check SheetThis is a check sheet to fully confirm claim contents when submit-ting or consulting about insurance claims and benefits.

Booklet: About the Receipt of Insurance Claims and BenefitsThis booklet explains the procedures for requesting insuranceclaims and benefits, as well as examples of circumstances in whichpayments may or may not be received.

The Self-Check Sheet and About the Receipt of Insurance Claims and Benefits are also posted on ourwebsite .➡ http://www.nissay.co.jp/okofficial/global/topics/hokinuketori.html (Japanese only)

Booklet: Guidance for Full Usage of PoliciesThis booklet, which contains typical examples ofcommon errors made when filing claims, will help yousuccessfully submit insurance claims and benefits.

All Steps Involved in Requesting the Full Payment ofClaims and Benefits

This pamphlet is mailed to customers, alongwith the Policy Details Reminder, and summa-rizes the principal grounds for the payment ofriders and typical examples of common errorsmade when filing claims.

Q I was told that my insurance claims and benefits were ineligible for payment. Who should I contact?

Nippon Life established a Complaint Call Center for policyholders to callregarding the payment of insurance claims and benefits if they aredissatisfied with the explanation provided by the sales representative.For customers who wish to consult with a third party, we have also

established the Request System, whereby we introduce these cus-tomers to lawyers outside of the Company (lawyers with whom NipponLife has not concluded advisory agreements) for free consultations.

Claims-Related Services Review Session: When a customer files an objectionregarding the payment of insurance claims or benefits, the Claims-Related ServicesReview Session, which was established in June 2006 and serves as an advisory body,reviews the appropriateness of the claim and makes recommendations to the paymentdivisions based on its findings. Two lawyers from outside of the Company (operatingoutside the Request System) are appointed as the chair and vice-chair of this commit-tee, which meets, in principle, every month.

Use of the Request System in Fiscal Year Ended March 31, 2009

Number

Number of cases where Request System was used 25

Number of cases deliberated at the Claims-Related Services Review Session due to requests for review 9arising from the Request System

Number of cases where a review decision or other appraisal was changed after advice was received as

1a result of deliberations at the Claims-Related Services Review Session

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STRENGTHENING THE UNDERWRITING AND INSURANCE CLAIMS AND BENEFITS SETTLEMENT SYSTEMAND EXPANDING EXPLANATION

Q What is the system for the regular payment of insurance claims and benefits?

To provide the proper payment of claims and benefits and to gain the trust of customers, Nippon Life makes every effort to ensure the fair and appro-priate assessment of policy underwriting, insurance claims and benefits settlements.

• When underwriting policies, assessments are based upon the healthof the insured person. In some cases, Nippon Life secures the agree-ment of the applicant regarding particular conditions (higher premi-ums, lower coverage, exclusion of certain areas of the body fromcoverage, etc.) and underwrites policies under terms and conditionsdifferent from those in the original application. In some cases, NipponLife refuses to underwrite policies.

• When insurance claims and benefits are paid, assessments are madebased on the details presented in the claim at the time it is submitted.Payment may be refused depending on the findings of the assessment.(See p. 63.)

In light of requirements for the appropriate assessment of variousmedical and moral risks, Nippon Life is stepping up its training ofassessment specialists and strengthening administrative systems.

■ Enhancing the Training of Assessment SpecialistsNippon Life has introduced a structured training system for developingassessment specialists responsible for policy underwriting and insur-ance claims. It also conducts in-house examinations and provides train-ing in essential medical and legal knowledge. Furthermore, we addedunderwriting as one of our business goal courses for employees fromthe fiscal year ended March 31, 2008 as we work to develop personnelthat have highly specialized skills.

A total of 1,096 employees passed the Life Insurance PaymentSpecialist examination offered by the Life Insurance Association ofJapan, held in October 2008, bringing the cumulative total of those whohave passed the exam to 1,548.

■ Upgrading Administrative Systems (See p. 43.)Nippon Life started up its First Underwriting System in September 2006,enabling the unification and sharing of assessment data through system-ization.

At present, we are moving forward with the development of the NewIntegrated System, a process that involves a drastic overhaul of our

existing main system and covers all areas and processes pertaining tocustomer service, from proposing and enrolling in an insurance policy toreceiving insurance claims and benefits. Our goal is to have the systemoperational by 2011.

■ Improving Explanations to Customers (See p. 61.)Nippon Life has improved the explanations it gives to customers aboutthe payment of insurance claims and benefits by not only publishing thebooklets About the Receipt of Insurance Claims and Benefits andGuidance for Full Usage of Policies, but also publishing pamphlets thatsummarize the reasons for payment, which we would like customers to

confirm, particularly in the pamphlet entitled Information on “Con-sistent Protection, Superior Services,” and through Policy Details Con-firmation Activities.

In October 2006, Nippon Life opened a call center for receiving com-plaints about insurance claims and benefits payments.

■ Strengthening Medical Research and DevelopmentThe Medical Research and Development Office analyzes previously com-piled medical data and the latest research in the medical and nursing

care fields while working to develop new products suited to customerneeds and reviewing our underwriting standards.

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■ Payment of Insurance Claims and BenefitsLife insurance is a system in which a large number of people participatein mutual support through insurance coverage in the event of sickness,injury or other unforeseen circumstances.

During the fiscal year ended March 31, 2009, Nippon Life made 78,396payments of insurance claims and 667,905 payments of other benefits.

In contrast, as a result of appropriate benefit settlement assess-ment efforts, we determined that the payment of insurance claimsshould not be made in 3,011 cases and that the payment of other bene-fits should not be made in 9,000 cases.

Number of Policies Paid and Amount of Payments (Fiscal Year Ended March 31, 2009)

Number of Cases for Which It Was Determined That No Payment Was Warranted (Fiscal Year Ended March 31, 2009)

Reasons and Details for Denial of Payment

(Unit: Number of cases)

Reasons for Denial of Payment Insurance Claims Other Benefits

Cases of fraud 0 0

Invalidation due to illegal acquisition 0 0

Cancellation of policies due to nondisclosure 132 506

Cancellation due to serious matters 0 2

Categorized as an exemption 476 205

Not categorized as a reason for payment 2,403 8,287

Total 3,011 9,000

Notes:1. The above represent the total for individual and group insurance policies upon which claims were filed.2. Figures do not include policies that require no payment assessment, such as maturity benefits, survival benefits, single payments, annuities and other benefits.3. Regarding payments for group insurance underwritten by multiple companies, the figures include policies for which Nippon Life is the lead underwriter.

(Unit: Number of cases, Millions of Yen)

Insurance Claims Other Benefits

Number of payments 78,396 667,905

Amount of payments ¥696,212 ¥126,277

Notes:1. The above represent the total for individual and group insurance policies upon which claims were filed.2. Figures do not include policies that require no payment assessment, such as maturity benefits, survival benefits, single payments, annuities and other benefits.3. Regarding payments for group insurance underwritten by multiple companies, the figures include policies for which Nippon Life is the lead underwriter.

In addition, the amount paid is calculated based upon the percentage of policies underwritten by Nippon Life, irrespective of whether or not it is lead underwriter.

Reasons and Details for Denial of Payment Content

Cases of fraud Policies are rendered invalid in the event that fraudulent actions were taken by the policyholder or by theinsured at the time when the policy was taken out. In such cases, premiums that have already been paid shallnot be returned.

Invalidation due to illegal acquisition If a customer enrolls in an insurance policy with the intention of illegally gaining insurance claims, saidinsurance policy could be invalidated. In such case, insurance premiums already paid shall not be returned.

Cancellation of policies due to Policies may be cancelled in the event that the policyholder or the insured neglected to disclose importantnondisclosure information that should have been disclosed, or disclosed false information at the time when the policy was

taken out, whether intentionally or by gross negligence. In such cases, surrender benefits shall be returned tothe policyholder.

Cancellation due to serious After enrollment, policies shall be cancelled in the event that accidents are caused intentionally formatters the purpose of fraudulently obtaining insurance claims, or in the event of fraudulent acts, such as falsification

of medical certificates to support a request of payment. In such cases, surrender benefits shall be returned tothe policyholder.

Categorized as an exemption Nippon Life may determine that the content of a claim falls in the category of an exemption under the termsand conditions of the policy.Examples: •A claim for mortality insurance claims following a suicide by the insured during the prescribed non-paymentperiod.

•A claim for mortality insurance claims following an accident caused intentionally by the policyholder orbeneficiary or following an accident caused by the insured person’s criminal activities.

Not categorized as a reason for Nippon Life may determine that a claim does not qualify as a reason for payment under the terms andpayment conditions of the policy.

Examples: •A claim for serious disability insurance benefits for a disability that is not categorized as a specific requirementas stipulated in the terms and conditions of the policies.

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The Insurance Act was established on May 30, 2008 and officiallyannounced on June 6, 2008.

The Insurance Act is a new law that is independent from commer-cial law and constitutes the first major revision in nearly 100 years tothe rules concerning insurance policies set forth until now in com-mercial law.

The Insurance Act is to take effect on April 1, 2010.

The Insurance Act

• Enhancement of provisions for the protection of life insurancepolicyholders

• New provisions for the prevention of moral risks

• Enhancement of provisions for changing beneficiaries• New provisions concerning accident and health insurance

Provisions concerning the insurance policies of

commercial law (established in 1899)

The Insurance Act (established in 2008)

First major revision in nearly 100 years

'Principal RevisionsThe following are the principal revisions to commercial law regarding life insurance.

'Specific ContentThe Insurance Act specifies the handling, obligation to disclose andchange in the beneficiary named in an individual’s legal will in termsof the time allowed for the payment of insurance claims. Furtherspecifics are as follows.1 Time allowed for the payment of insurance claims

Commercial Law specifies nothing concerning the time of paymentof insurance claims.

While it has always been necessary for the insurer to pay insur-ance claims once it has carried out the required investigation,including confirming that the insured event occurred, giving dueconsideration to the fact that payments need to be made as soonas possible, the Insurance Act newly establishes a provisionregarding the time allowed for the payment of insurance claims.

Nippon Life pays interest in arrears in the event that the timetaken for the payment of insurance claims has exceeded the timeallowed for in the policy’s terms and conditions.

2 Obligation to discloseIn contrast to commercial law, under which the enrollee is respon-sible for deciding upon what constitutes a material fact and fordisclosing said fact (the voluntary reporting obligation), under theInsurance Act, the enrollee must truthfully answer specific ques-tions asked by the insurance company (the Question AnsweringObligation).

Nippon Life has employed the Question Answering Obligationformat for many years; therefore, its handling of business is wellin line with the Insurance Act.

3 Change in the beneficiary in one’s willCommercial law makes no express provision for change in benefi-ciary. The Insurance Act includes an express provision for changein beneficiary and any change in the beneficiary named in an indi-vidual’s legal will is recognized.

'Policies in which people are already enrolledIn association with the enactment of the Insurance Act, a portion ofthe text of the Law applies to policies in which people are alreadyenrolled prior to the Law’s enactment. The applicable details (timeallowed for the payment of insurance claims) are set forth in newterms and conditions.

The new terms and conditions and the applicable details, period,etc., will be posted on the Nippon Life website (http://www.nissay.co.jp(Japanese only)). Nippon Life plans to post notifications of the newterms and conditions to customers.

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INSURANCE CONSULTATION AND INQUIRIES

Q Who can I contact and address any inquiries to regarding insurance?

Nippon Life is continually developing a variety of service channels tomatch customer needs. There are personnel readily available to consultwith customers on a range of issues.

Inquiries about insurance may be directed to Nissay Total Partners(sales representatives) or by contacting an agency. Our sales represen-tatives provide consultation and support to customers in such areas asfinding products that match their lifestyle needs to policy enrollmentand amendment procedures and how to file for insurance claims andbenefits. Nippon Life is always ready to offer customers any assistanceneeded.

Life Plazas and branch service counters also provide consulting ser-vices. In addition to consulting on a range of procedures, our Life Plazaspresent regular seminars regarding public pensions, post-retirementasset investment, taxation, inheritance and other topics. We offer a

range of highly specialized consulting services to match customerneeds. Also, our trained operators are always waiting to assist you at ourcall centers.

We are also expanding services available via the Internet, providinginformation about Nippon Life and our products. Through this service,customers may request materials as well as access information regard-ing their policies, take out loans and withdraw accumulated dividends.We hope that you will make full use of our Automatic Phone Services andATMs.

We will continue to expand our network of sales representatives tocover customers throughout Japan while working to create new servicechannels in response to diversifying customer needs.

We invite you to contact your nearest Nippon Life salesrepresentative.

p. 68

p. 69

pp. 68, 69

p. 68

p. 66 p. 67

Providing more precise consulting services by promoting links with Nissay Total Partners

Nissay Total Partners (Sales representatives)

Agencies

Life Plazas, Branch Service Counters

Procedures, consulting, etc.

Procedures, consulting, requests for visits from sales representatives, etc.

Call Centers

Providing information, requesting materials, procedures, inquiries about policy terms and conditions, etc.

Internet

Taking out policy loans, withdrawing accumulated dividends, etc.

Automatic Phone Services & ATMs

Cu

sto

mer

Ordinary procedures/requests for visits/consultations/other requests

Execute procedures independently/consultations/other requests (Participation in seminars)

Execute procedures independently/consultations/other requests

Execute procedures independently/collect information

Execute procedures independently

Nissay Total Partners: Nippon Life sales representatives are referred to as NissayTotal Partners. The title embodies the concept of total service and total support forcustomers and their families.

Financial Planner (FP): A financial planner is a specialist who analyzes a customer’ssituation, including insurance, assets, liabilities, composition of income and expendi-tures, and composition of family. When nec-essary, he or she seeks the support ofattorneys, tax accountants and various otherspecialists in such fields as insurance andreal estate. Based on the analysis, the finan-cial planner helps the customers create andimplement comprehensive plans, includingtax strategies, insurance plans, investmentstrategies and saving plans to enable cus-tomers to reach their life-plan goals.

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■ Nissay Total Partners (Sales Representatives)Nippon Life has a network of approximately 50,000 Nissay Total Partners(sales representatives) at 107 nationwide branches and 1,589 salesoffices. Through this network, Nippon Life is able to respond to theneeds of each and every one of its customers throughout Japan.

Nissay Total Partners seek to visit every customer at least once ayear to help them with a variety of policy related procedures and providethem with the information they need.

We are also striving to enhance the abilities of personnel in order toprovide precisely tailored consulting services. We encourage our NissayTotal Partners to obtain national certifications from the Ministry ofHealth, Labour and Welfare as financial planners as well as JapanAssociation of Financial Planners certification (AFP certification). Thesecertifications require in-depth knowledge of not only life insurance, butalso financial products, the social insurance system, real estate, taxationand inheritance.

Furthermore, we have equipped all Nissay Total Partners with Duomobile consulting terminals that feature precise sales support and

consulting functions, making full use of our expanding IT infrastructureas we develop a system to enable Nissay Total Partners to respond tocustomer expectations on the spot.

Mobile terminals for consulting (Duo)

■ Education of the Nissay Total PartnersThrough personal one-on-one consulting, Nissay Total Partners work toassist customers regarding all of their insurance needs, from recom-mending and reviewing insurance plans to the payment of insuranceclaims and benefits. Nippon Life places a special emphasis on in-depthtraining in after-sales service.

Training

Strengthening Our Training of Human Resources That Are Integrated with Sales Offices, Branches andHeadquartersAddressing the need for training within sales offices that it is tailored to the themes and issues of each branch and sales office, and in line withthe overarching goal of training customer-trusted sales representatives, each branch office sets aside a place for discussion and study on a reg-ularly scheduled basis, with the sales office manager playing a central role in all training.•Sales offices: Model employees are given responsibility for the education of employees who have been with Nippon Life for less than two years and work

together with general managers of the sales offices to lead basic insurance knowledge training, role-playing activities, compliance education andetiquette training programs.

•Branches: Personnel specialized in education work are deployed at the Training Center. In addition to sharing product knowledge and giving practical trainingin sales and payment administration, they accompany trainees on customer visits and provide support to employees responsible for the educationof new employees.

•Headquarters: Intensive training is given to sales representatives in advanced consulting techniques, and leadership training is conducted in such areas as thecoaching of employees responsible for education.

First year

Advanced consulting training

Second year Third year and thereafter

Basic sales training

•Customer service training•Sales activity training in local areas/worksites •Education for payment-related matters•Knowledge acquisition —Public pension system —Public medical insurance system —Nissay’s products —Insurance certificate assessment

Pre

-tes

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aini

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gene

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Join company

• Business manners• Life insurance basic knowledge• Nissay’s insurance product knowledge• Basic knowledge of payment-related matters• Compliance• Practical sales training (role playing)

Basic education necessary for insurance sales and after-sales service

Total service (non-life insurance) education

General knowledge/Information education to all employees (watching NICE-NET programs • learning materials • role playing)

Education utilizing internal satellite broadcast system (NICE-NET)

Course to preparefor advancedcertification course

Industrywide test preparation courses

Sales education and training for assigned areas

• Gain knowledge of specific fields including AFP/taxes/advanced non-life insurance education

Training by subject

Education and Training Curriculum for Fiscal Year Ended March 31, 2009

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■ AgenciesForming agency consignment agreements, we have developed a networkof 8,619 agencies (a year-on-year increase of 1,054 agencies) centeredon tax accountants; professional life and non-life insurance sales agen-cies; major financial institutions and their related agencies throughoutJapan; Japan Post Insurance Co., Ltd.; Japan Post Network Co., Ltd.*; andother organizations as of March 31, 2009.

Agencies consult on such topics as business transfers, executiveretirement benefits and succession, mainly with corporate managers.Among these are agencies at the service counters of financial institu-tions that consult on asset formation, retirement coverage and othertopics, and also sell our products.

There are approximately 700 managers throughout Japan whosupport these agencies. In April 2007, we began to employ personnel(agency partners, 272 as of April 2009) who specialize in agency support,and we are taking steps to provide high-level enhancement to thisongoing support system.

Aiming to respond to a wider range of customer needs, we aremaking an effort to expand our Internet-based sales support system

(A-Net) for agencies and strengthen their compliance systems by offer-ing numerous types of educational materials and programs.*Nippon Life began selling its products through Japan Post Insurance Co., Ltd. from

June 2008, and Japan Post Network Co., Ltd. from October 2008.

A-Net (Nissay Agency Net): This is an Internet-based system that makes it possiblefor agencies to create the most appropriate proposals based on customer needs byaccessing the Nissay Agency website. Inaddition to a proposal-creating function,there are various reference menus that areuseful for agencies.

Compliance System: Based on a compliance program formulated in response to spe-cific Agency Management Sector issues, Nippon Life implements self inspections ofthe internal organization in charge of agency sales, provides education and training forthe personnel at Nippon Life in charge of agency sales, and conducts inspections, edu-cation and training for agencies.

■ Life Insurance Sales at the Service Counters of Financial InstitutionsThrough an agency agreement forged with banks, credit unions andother financial institutions, Nippon Life sells individual annuities, single-payment whole life insurance and term life insurance through theservice counters of these institutions.

Once you have enrolled in a policy, you are able to access us throughthe dedicated call centers of the participating financial institutions’product sales counters. Call centers enable us to provide such after-sales service as handling customer inquiries about policy content andaccount status and the processing of insurance claims and benefits.

In order to provide a wide array of in-depth services for customers,Nippon Life is working hard to improve the education and training ofinsurance sales-related personnel at these institutions with respect toproduct knowledge and sales skills, as well as to strengthen their com-pliance systems.

• Executive retirement benefits, treasury stock, etc., for corporate policies

Monthly trainingIndustrywide training(Training before and after registration)

Orientation(Explanation of the content of the agency’s business)

• Agency business overview• Nippon Life overview

• Product training• Policy sales practical training• Compliance training

• FP basics• Compliance training

• Inheritance tax, lifetime transfer of wealth, etc., for individual policies

STEP 1 STEP 2 STEP 3 STEP 4

FP training

Agency Education Program

Number of Cooperating Financial Institutions (as of April 1, 2009)

City banks/Trust banks 6

Regional banks 86

Credit unions/Credit cooperatives 213

Securities companies/Other 10

Total 315

Single-payment whole life insurance 110

Fixed amount annuities 161

Products Sold at Financial Institution Service Counters and FinancialInstitutions Handling These Products (as of April 1, 2009)

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■ Customer Service CountersWe have established customer service counters, which handle allinsurance-related procedures, provide consultations and respond to awide range of customer requests, in 90 locations throughout Japan.Approximately 660,000 customers visit these counters annually.

As they constitute the face of Nippon Life, these counters aim toprovide reliable service in order to gain customer trust. Toward thatend, we are working to enhance the consulting ability of representatives,provide training and testing to expand their financial planning knowledge

and to improve the manner in which they receive customers. In the yearsahead, we will continue to provide useful information to customers andmeticulously meet their individual needs.

Nissay Life Plaza Marunouchi Consulting

Nissay Life PlazasThere are Nissay Life Plazas in 85 locations throughout Japan. Thesecustomer service counters meet a wide range of advanced customerneeds, including consulting related to medical insurance, nursing careinsurance, taxation, asset investment and investment-type annuities,while handling insurance-related procedures and providing insurance-related advice. (as of July , 2009)

In addition, Nissay Life Plazas hold free seminars on various topics,provide tax accounting advice (in some locations), and, if desired by thecustomer, a staff member will visit a customer at home or another placefor consulting in addition to providing various other services. (Somelocations provide services on Saturdays.)

Branch Service CountersBranch service counters have been established at five locations through-out Japan. These customer service counters provide services especiallygeared toward their particular regions while meeting immediate cus-

tomer needs, such as handling insurance-related procedures, consult-ing, explaining policy content and assessing coverage.

■ TelephoneNissay Call CentersWe are working to have specialist operators, who answer calls from cus-tomers throughout Japan, handle all requests, such as for changingaddresses and PIN numbers as well as requests for insurance claimsand benefits in a simple, convenient and efficient manner.

Nissay Call Center

Automatic Phone ServicesCustomers with Nissay Insurance Accounts can make use of this serviceto change PIN numbers, take out policy loans and withdraw accumulated

dividends through an automated voice directory.

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Nissay Customer Centers*Staff at Nissay Customer Centers contact customers by phone directly,including on Saturdays and Sundays, for a wide range of reasons, includ-ing to confirm customer policy content and to handle various policy

maintenance procedures. The centers also provide guidance on variousinsurance-related systems. The sales representatives in charge respondto policyholder inquiries through personal visits.✳ Implemented in some regions.

■ InternetCustomers with Nissay Insurance Accounts may confirm policy content,conduct such financial transactions as policy loans and complete proce-dures, including address and telephone number changes, via theInternet. (See p. 59 for details.)

For customers who are considering enrolling in a policy or wishing toreview an existing policy, Nippon Life provides a variety of informationand has posted product and service-related information, including the

Policy Clause—Bylaws/Terms and Conditions on its website. In addition,customers may review insurance plans to find those that meet their indi-vidual needs as well as access a variety of content, including simulationsthat calculate the amount of their insurance premiums and the coveragethey will require at times of sickness or injury or in worst-case scenarios.

Customers may also request product pamphlets and estimates forconsultations from the website.

■ ATMsCustomers possessing Nissay Insurance Accounts cards may use them at any one of 55,000 ATMs nationwide.

Nissay Insurance Accounts regulations were upgraded on December29, 2005. As with banks and other financial institutions that are subjectto the Depositor Protection Law, compensation for all or a portion ofdamages incurred is now available for specified cases.

✳For details, please visit the Nippon Life website.➡ http://www.nissay.co.jp/okofficial/keiyaku/senyo/help/kitei_all.html

(Japanese only)

Depositor Protection Law: The official name is the Act on Protection, etc. ofDepositors and Postal Saving Holders from Unauthorized Automated Withdrawal,etc. Using Counterfeit Cards, etc. and Stolen Cards, etc., which took effect onFebruary 10, 2006.

In order to prevent damage to customers resulting from the illegaluse of cards, Nippon Life is making vigorous efforts to improve card security.

Compensation for Damages as a Result of the Falsification or Theft of a Nissay Insurance Accounts Card

Efforts to Strengthen Card Security• Service is stopped in the event that a customer registers an easily

inferred PIN number, such as their birthday or telephone number.• Service is stopped in the event that an ATM is not used for a period

of 10 years.• Customers are sent notifications by post after withdrawals are made.

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Q What is Nippon Life’s solicitation policy?

■ About Nippon Life’s Solicitation PolicyAlways taking a customer-first perspective, Nippon Life believes that theprovision of insurance is important and so it works hard to ensure thatcustomers select the insurance most appropriate for them while takinginto account the total needs of the customer. Accordingly, the NipponLife Solicitation Policy sets forth the Company’s approach to the sales of

insurance and other financial products. Included in this approach isensuring that our solicitation activities are appropriate, which weachieve through the education and training of all employees and execu-tives, the proper handling of customer information and responsivenessto a variety of customer feedback.

We sell insurance and other financial products in compliance with alllaws, including the Insurance Business Law, Financial Instrumentsand Exchange Law, Sales of Financial Products Law, the ConsumerContracts Law and other laws and ordinances. The following is thepolicy under which sales are conducted and was created with the ideathat customers come first.<Sales and Appropriate Solicitation based on CustomerNeeds>• Comprehensively taking into account customers’ knowledge of

insurance and other financial products, their purpose for purchas-ing the policies, their family situation and their asset status, weconstantly carry out consultative sales so that customers choosethe most appropriate insurance and other financial products whileexplaining products from the customer standpoint.

• Nippon Life uses policy guides and Reminders to explain policies inan easy-to-understand manner so that customers fully understandthe content of insurance products and how they work and takessteps to confirm that the products match the needs of customersusing the Plan Confirmation Document.

• In particular, for such products as variable annuities, foreign cur-rency denominated insurance and investment trusts that entailmarket risk, we recommend those considered most appropriate foreach customer’s age, knowledge and investment experience whilegiving appropriate explanations regarding products and their risks.

• When explaining products over the phone or during customer visits,we take a customer perspective while giving sufficient considera-tion to time, place and other factors.

• We are striving to eliminate moral risk and ensure that proper noti-fication is received from customers so that we treat all policyhold-ers impartially and operate a morally sound insurance system. Inparticular, when underwriting life insurance policies that insurejuveniles, we strive for proper solicitation by ensuring that the cus-tomers’ needs are met once proper insurance coverage amountshave been established.

<Appropriate Solicitation Activities through Education and Training>Moreover, we are doing everything that we can to ensure that oursolicitation activities are appropriate by educating, managing andinstructing all employees and executives through a systematic trainingprogram that includes compliance-related training.<Proper Handling of Customer Information>Nippon Life takes steps to properly manage, use and protect cus-tomer information.<Responding to Customer Feedback>Nippon Life is constantly gathering a wide range of opinions and sug-gestions from customers that it is acting on in order to increase cus-tomer satisfaction.

Further Advancing Our Customer-First Perspective—Nippon Life’s Solicitation Policy

■ Educating Nissay Total Partners (Sales Representatives) and Reinforcing PrinciplesTo be able to provide product proposals that are attuned to the needs ofour customers, training programs are conducted as part of our SalesOffice’s morning assemblies as well as on other occasions; equippingsales representatives with the knowledge and skills they need as NissayTotal Partners.

Nippon Life considers it very important that customers enroll inpolicies only after they have understood the content of the policy. Salesrepresentatives thoroughly confirm the needs of customers by takingtime to explain key points using Prospectuses (policy guides) andReminders, and through the use of Plan Confirmation Documents. (Seep. 56.)

These rules are thoroughly reinforced through compliance educa-tion, etiquette training and practical hands-on training in life and non-life insurance. Specifically, all employeesparticipate in companywide in-house trainingprograms broadcast by satellite, take routinequizzes that test their comprehension andput the compliance text to practical useeveryday.

Management at headquarters and regularinternal inspections confirm trainingprogress and ensure full implementation.

Compliance Text

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Q Will my personal information be safe?

1. Information CollectionThe personal information of customers is collected to the extent required toconduct business, specifically, to underwrite various insurance policies, con-tinue and maintain management, and handle payments, such as for insuranceclaims and benefits.2. Types of Information CollectedWe collect information necessary to the conduct of business, underwritevarious insurance policies, conduct continuation and maintenance management,and handle payments such as insurance claims and benefits.

This information primarily includes a customer’s address, name, date ofbirth, state of health and occupation. Furthermore, for other types of productsand services we offer, customers provide additional information necessary toconduct business.3. Information Collection MethodWe collect customer information using legal and impartial methods. The infor-mation is mainly collected through policy applications, contracts and surveys.Furthermore, there are times when information is gathered over the Internetand through postcard surveys/mailings when conducting various activitiesincluding campaigns.4. Purposes of Using a Customer’s Personal InformationA customer’s information is used in the following:(1) Underwriting various insurance policies, conducting continuation and main-

tenance management and handling various types of payments, such as insur-ance claims and benefits

(2) Explaining and providing various products and services, including those ofrelated and affiliated companies and conducting policy maintenance

(3) Providing information concerning our business, managing our operationsand expanding our lineup of products and services

(4) Other insurance-related businessThe purposes of these uses are given in our Personal Information ProtectionPolicy, which is available through our website, Disclosure Report and elsewhere.Furthermore, when personal information is collected directly from customers,the purpose of the use to which it will be put is clearly explained to the cus-tomer at that time.5. Information ManagementIn order to guarantee that a customer’s personal information is up to date andcorrect, we take the appropriate steps necessary to conduct business.Furthermore, we implement measures deemed necessary and appropriate for the safe management of a customer’s personal information in order toprevent its inappropriate access, leakage, loss or destruction.6. Provision of Information(1) As a general rule, we do not provide a customer’s personal information to

third parties without receiving consent from the customer.

This includes the following situations:1) Providing customer information to Nippon Life Group companies, includ-

ing Nissay Dowa General Insurance, in order to provide services relatedto Nissay Insurance Accounts

2) Providing customer information to our related and affiliated companies inorder to explain and provide various products and services.

(2) However, in the following situations, we will provide customer informationto third parties without customer consent1) When the provision of a customer’s personal information to a third party

without customer consent is permitted by Article 23, Clause 1 of the LawRelated to Personal Information Protection (Personal InformationProtection Law) or other laws and regulations

2) When the provision of a customer’s personal information to firms thatNippon Life has outsourced work to is necessary to Nippon Life’s contin-ued business

3) When sharing a customer’s personal information as stipulated by thePersonal Information Protection Law

4) In other cases where the Personal Information Protection Law permitsthe provision of a customer’s personal information without customerconsent

7. Disclosure, Revision, Suspension of Use and Erasure ofInformation

When a customer requests that their personal information be disclosed,revised, not used or erased, the appropriate action will be taken after confirm-ing the customer’s identity unless there is special reason not to do so.8. Compliance with Related Laws and RegulationsRegarding customers’ personal information, we conduct business in a mannerthat adheres to all aspects, such as definition, attitude and handling, of thePersonal Information Protection Law, all other related laws, regulations andguidelines, and the Life Insurance Association of Japan’s guidelines on handlingpersonal information protection for the life insurance industry.9. Establishment of and Improvements to the Compliance ProgramIn order to guarantee that customers’ personal information is being handledappropriately, a compliance program was established that all our employees, thefirms to which we have outsourced work and other related parties have beenmade thoroughly aware of, and we conduct necessary and appropriate supervi-sion. Furthermore, we review and revise the policy and the compliance programwhen necessary.10. Customer Requests Regarding Personal InformationCustomer requests regarding the handling of their personal information arereceived at the personal information counter and processed in an appropriateand efficient manner.

Personal Information Protection Policy (Handling a Customer’s Personal Information)March 17, 2005—Nippon Life Insurance Company

We have established policies regarding the handling of personal infor-mation and are working to properly protect, use and manage customerinformation in order to be a company that customers can trust. In

order to realize appropriate protection of personal information, wecontinue to maintain and improve this policy.

■ Efforts Related to the Protection of Personal InformationNippon life is entrusted with the personal information of a large numberof individual insurance policyholders as well as sensitive informationrelated to customers’ health conditions. Customer information is thefoundation of insurance policy transactions, and, therefore, Nippon Lifeprotects these customers’ information assets carefully, recognizing thatthe handling of this information is an extremely important issue. NipponLife has also established Personal Information Protection Policy. At the

same time, we have improved our information security system infra-structure, starting with the mobile terminals of sales representatives.Moving forward, we will provide even more thorough and stronger pro-tection by following up on efforts related to the protection of personalinformation as well as by conducting employee training on this subjectand other measures.

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• Workers’ Asset-Formation Pension Fund Insurance (Nissay Asset-Formation Pension Fund Insurance)

• Workers’ Asset-Formation Housing Funding Insurance (Nissay Workers Asset-Formation Housing Plans)

• Workers’ Asset-Formation Savings Insurance (Nissay Asset-Formation Savings Plans)

• Insured Contributory Pension Plans (Happy Life)• Plan for executive/employee self-reliant aid

• General Welfare Group Term Life Insurance

• Group Term Life Insurance (Optional Group Term Life Insurance)

• New Group Disability Income Insurance

• Plan for executive/employee self-reliant aid

• Plan for retirement funds payable on employee’s death and condolence payments

• Non-statutory workers’ accident compensation plan

• Plan providing pensions for surviving family/children

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• Disability coverage planDisability coverage

Survivor coverage

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• Medical Life Insurance (Group Type)

• Dread Disease Term Insurance

• Medical Life Insurance (Group Type)

• Plan for executive/employee self-reliant aid

• Medical coverage plan

Medical coverage

• Asset formation promotion plan

• Group Credit Life Insurance

• Asset formation promotion plan

• Home loan plan

Preparation for buying one’s own house

• Defined Contribution Pension Plans• Defined contribution pension system

• New Insured Pension Plans• Tax-qualified pension system

• Employees’ Pension Fund Insurance• Employees’ pension fund insurance system

• Defined Benefit Corporate Pension Plans• Defined benefit corporate pension system

• Nissay Key Man Insurance*

• Plan for retirement allowance and old-age pensions

• Single retirement allowance system

• Executive retirement allowance plan

Retirement coverage

Retirement coverage

Survivor coverage

Retirement coverage

• Workers’ Asset-Formation Benefits Savings Insurance (Nissay Workers’ Asset-Formation Benefits Savings Insurance)

• Workers’ Asset-Formation Fund Savings Insurance (Nissay Workers’ Asset-Formation Fund Savings Insurance)

• Asset formation incentive plan

• Asset formation promotion plan

Various life plans

• Plan for retirement funds, death coverage and condolence payments for executives

Company and Organization Benefit Systems Products That Meet the Needs of Company and Organization Benefit Systems

TO CORPORATE MANAGERS

Q I am the owner of a company. How can I offer improved benefit plans to executives and employees?

Nippon Life offers a broad range of products and consulting services to match the needs of corporate managers/company owners who are working toenhance benefit plans for their employees.

■ Nippon Life’s Main Corporate Products (as of July 2009)Self-reliant products: Insurance premiums that are borne not by the corporation or organization, but by the executives and employees themselves.

*The Key Man plan is an individual insurance and annuities policy handled by a corporation. (See p. 54.)

✳Although the above lists the names of Nippon life products that pertain to company and organization benefit systems, it does not cover all the particulars pertaining to policies. Whenreviewing a policy, always confirm by reading pamphlets, Bylaws/Terms and Conditions, Policy Clause, pre-contract documents based on Article 37-3 of the Financial Instruments andExchange Law as Applied Mutatis Mutandis, Especially Important Notifications, and other documentation.

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■ Expansion of Corporate Services (Nissay Corporate Internet Service)In an effort to expand its corporate services, we started the NissayCorporate Internet Service in April 2009.

This is a free Internet-based service for corporate customers whohave registered for it that provides information on the content of

policies they are enrolled in as well as accounting-related informationon premiums paid during the fiscal year and that allows customers tomake financial transactions in response to urgent financial needs, suchas taking out policy loans and withdrawing accumulated dividends.

Available Services• Inquiries about policy content• Inquiries about accounting-related information• Information on future receipts• Various financial transactions (application for policy loans and with-

drawal of accumulated dividends, deferred special payments anddeferred insurance amounts)

Policy content information Accounting-related information

■ Group Insurance (Provision for Unexpected Events That Affect Employees)Building Attractive Employee Benefit PlansIn addition to providing general welfare group term life insurance tosupport surviving family members in the event of an employee’s death,Nippon Life is moving ahead with consulting related to optional groupterm life insurance for employees as well as with proposals to meetincreasing needs to establish employee benefit plans that meet theneeds of both corporations and employees. These efforts involve intro-ducing products that meet increasing demand for medical coverage.

In addition, Nippon Life is working to strengthen its comprehensiveconsulting in fields that straddle the boundary between life and non-lifeinsurance through such offerings as optional group term life insuranceand the group long-term disability insurance provided by Nissay DowaGeneral Insurance, as well as comprehensive group accident insurancetogether with group medical/cancer insurance plans.

Efforts in Administrative ServicesIn the field of self-reliant products, Nippon Life has established callcenters to handle inquiries and provide policyholders with a single noti-fication that covers the various products they have purchased. In thefiscal year ended March 31, 2009, Nippon Life also introduced an auto-matic pamphlet creation system for employees. Through these efforts,we are striving to reduce the burden of system administration forpersons responsible for personnel management and increase conve-nience for employees.

In response to companies’ introduction of information technology,Nippon Life also offers the Nissay Life Navigation System, which individ-ual policyholders can access online. This includes such functions asinquiries about purchased products and accumulated annuity amountsimulations that can be accessed via the customers’ intranets.

Nissay Life Navigation System

Efforts in Administrative Services

Company (Customer) Nippon Life

DatabaseServer

• Inquiries about purchased products• Accumulated annuity amount simulations, etc.

Person responsiblefor administrationEmployees

Company (Customer)

Intranet

WebServer

Firewall

Internet

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■ Group Annuities (Supporting Corporate Customers’ Preparation for Employee Retirement Allowances and Pensions)

Commissioned Systems to Strengthen and Specialize Group Annuities Services

As a commissioned organization that can provide a combination ofdefined benefit corporate pensions and defined contribution pensions,we utilize the strength of the entire Nippon Life Group to offer high-

quality services in a wide range of areas, including plan design, planmanagement, trust and custody, and asset management.

Consulting for Corporate Retirement Allowance and Annuity Systems DesignNippon Life provides a wide range of services, including consulting onretirement allowances and annuity plans by actuaries and system designspecialists, and the verification of the effects of system changes on cor-porate and annuity finances.

The preferential tax treatment for tax-qualified pension plans willend at the end of March 2012. If Nippon Life does not apply to another

tax-qualified pension plan system, it is expected to have a major impactfrom April 2012. For example, a surtax could be imposed on insurancepremiums as employee income tax (deemed salary taxation) for contri-butions. As a preeminent tax-qualified pension plan institution, NipponLife is working to provide customers with information on the newsystem while supporting them to ensure a smooth transition.

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Plan design and consulting

Trust and custodyPlan/member management

Asset management

Nippon Life

Defined benefit corporate pension master trust

The Master Trust Bank of Japan, Ltd.

Defined contribution pension asset management organization

Defined benefit corporate pension asset management

Nissay Asset Management Corporation

Defined contribution pension asset management

Corporate-Pension Business Service Co., Ltd.

Nippon Record Keeping Network

Defined contribution pension investment

management organization

Plan/member management

Defined benefit corporate pension management

Plan/member management

Commissioned Systems to Strengthen and Specialize Group Annuities Services

Defined Benefit Corporate PensionIn addition to its advanced consulting service, which has been provid-ing customized insurance plans, Nippon Life has designed a contribu-tion-based plan that primarily targets customers with enrollments ofbetween 50 and fewer than 250 people, and has designed a definedbenefit corporate pension that a wide range of customers will findsuitable.

The defined benefit corporate pension has been instituted at5,008 companies (according to the Life Insurance Association ofJapan; Nippon Life has instituted it at 1,025 companies*) throughoutJapan as of March 31, 2009, and further growth is expected.*Policies solely managed by Nippon Life

Defined Benefit Corporate Pensions: These are defined benefit-type plans, whichare like tax-qualified pension plans in that the amount of benefits is predetermined.They come in two types, contract type and foundation fund-type. The protection ofpension rights is the primary purpose of the new pension system that was enactedinto law in April 2002.

Defined Contribution Pensions (401k Pensions)Nippon Life provides improved services that include a call center thatenables clients to get answers to all questions with a single phonecall, high-quality investment training by our own in-house experts andconsulting and administrative support for business owners. We havecreated a structure that can be managed by a single company andmeets a wide range of needs, from system introduction to daily man-agement. As an investment and management organization, Nippon Lifehas obtained 454 (as of March 31, 2009) outsourcing contracts in thisarea, the highest in the industry. We also provide a variety of productsthat are appropriate for long-term annuity investments.Defined Contribution Pensions (401k Pensions): These pension plans are basedon fixed contributions and set benefits determined by the performance of individ-ual’s investments. They come in two types. With the Corporate Plan, the firm paysthe contribution for employees. With the Individual Plan, individuals pay the contri-butions themselves. These pension plans are based on pension laws that went intoeffect in October 2001.