Insurance for Children in Japan: What Parents Need to Know

As children grow into teenagers, they often start to ask questions about insurance and what will happen when they are older. In Japan, insurance for children is widely covered by private companies. While this may be rare in the United States, it is not uncommon in other countries like Poland, which has a similar system. Here are the main points to keep in mind when your child asks you about insurance in Japan.

What is it?

In Japan, insurance for children is covered by a general system of health insurance. The insurance was established in 1954 to cover children up to the age of 18. This is not a type of special insurance for children but rather a part of the general health care plan that covers all citizens.

Who does it cover?

Children are covered by insurance for the first three years of their lives. After that, coverage can be continued through the university or vocational school years.

Parents and children are covered by insurance for hospitalization, surgery, and accidents up to age 25. However, parental care is not covered after this point and should be taken care of out-of-pocket.

Insurance coverage is also provided during maternity leave and while the child is in childcare.

Why does Japan have insurance for children?

One of the main reasons that insurance for children is so prevalent in Japan is because of the strong family system. With such a strong sense of family, it makes sense that these children would be well taken care of. The Japanese government also has regulations that allow companies to provide insurance for children by law.

How do you purchase insurance for a child in Japan?

In Japan, when you purchase insurance for a child, it is done as a separate policy. This means that the parent does not need to purchase a separate policy for the child to cover their medical expenses. The child’s coverage will be automatically included into the parent’s policy.

What are the benefits of having insurance for children?

In Japan, insurance companies cover many of the costs that are associated with raising a child. In Japan, children can be covered for medical expenses and hospitalization for any reason. There are also health benefits for both parents and children, including maternity and paternity leave. Additionally, parents can get an allowance to help with expenses, which may not always be available in other countries.

Insurance for children versus parents

In Japan, insurance companies usually sell policies to children before they are even born. For this reason, parents do not need to worry about their child’s coverage. In the United States, parents would need to purchase a policy for their young child and then transfer that policy once they reach a certain age.

Types of insurance in Japan

There are four types of insurance in Japan.

– Life insurance covers you if you die.

– Property insurance protects your property against fire, theft, and other risks.

– Health insurance pays for medical treatments and services related to sickness or long-term care.

– Taxation insurance provides protection from taxation on the income tax, trust tax, interest tax, capital gains tax, and wealth tax.