Tokyo, November 24, 2023 – Rakuten Life Insurance Co., Ltd. announced today that they will launch "Rakuten Life Well Smile" (official name: Medical Insurance Based on Health Conditions (no surrender value)), a new medical insurance product that encourages healthy living, on November 25, 2023. This product is a medical insurance plan that allows the insured to receive refunds of premiums in the form of Rakuten Points or cash, with a maximum refund rate of up to 20% when they maintain good health, in addition to coverage for surgery, hospitalization and home medical care after being discharged due to illness or injury. This is the first medical insurance product in the industry to offer a refund in the form of Rakuten Points based on the insured’s health conditions. This product can be applied for both in-person via insurance agents and online starting November 25, 2023.
Interest in health maintenance and disease prevention is on the rise, and Rakuten Life Insurance has developed this product to encourage healthy living for customers by reflecting their personal health efforts in the benefits provided through insurance premiums. Up to 250 Rakuten Points will be awarded to insurance plan customers every month by linking records of their physical activity to the Rakuten Health Care app provided by Rakuten Group, Inc. Through this product, the two companies will aim to contribute to extending customers’ healthy life expectancy, improving their quality of life and optimizing medical costs.
The Rakuten Group provides more than 70 services related to daily life, spanning e-commerce, fintech, digital content and communications, both in Japan and overseas. By linking these diverse services through a common membership and loyalty program, Rakuten has created a unique and robust ecosystem. Rakuten Healthcare will promote users’ health awareness by leveraging various technologies and Rakuten’s broad portfolio of services.
As the expansion of Insurtech (a combination of IT and other technologies with insurance services) accelerates in the insurance industry, Rakuten Life Insurance is developing new services as the Rakuten Group insurance provider seeks to deliver well-being to both people and society. Rakuten Life Insurance will continue improving the level of convenience and service quality to customers by proactively utilizing cutting-edge technologies.
Features of Rakuten Life Well Smile
Rakuten Life Well Smile includes the following features to support customers’ health efforts, in addition to full medical coverage.