General Discussion

Jesus Malverde

(10,274 posts)

84. Japan post offers banking and insurance.

Sat May 28, 2016, 07:08 AM

May 2016

Insurance
September 2006 Established Kampo Co., Ltd. under the Postal Service Privatization Act
October 2007 Changed trade name to Japan Post Insurance Co., Ltd. in line with commencement of life insurance business
Started Postal Life Insurance management operations under commission from the Management Organization for Postal Savings and Postal Life Insurance
December 2007 Obtained approval for new operations (liberalization of investment products)
June 2008 Commenced commissioned sales of life insurance products for corporate clients (term insurance)
July 2008 Launched Sono hi kara, a new hospitalization rider
July 2009 Established branches in all prefectures through opening of the Nara Branch and Wakayama Branch
October 2011 JAPAN POST INSURANCE SYSTEM SOLUTIONS Co., Ltd. (current consolidated subsidiary) became a subsidiary
April 2014 Launched Hajime no Kampo, an educational endowment insurance
July 2014 Commenced handling commissioned sales of cancer insurance products for American Family Life Assurance Company of Columbus (Aflac)
September 2015 Obtained approval for commissioned sales of insurance products for corporate clients (general welfare group term insurance, etc.)
October 2015 Commenced sales of endowment insurance “New Free Plan (short-term premium payment)”
November 2015 Listed shares on the First Section of the Tokyo Stock Exchange
History of Postal Life Insurance

October 1916 Foundation of Postal Life Insurance business by the Ministry of Communications
October 1926 Foundation of postal annuity business by the Ministry of Communications
June 1949 Establishment of The Ministry of Posts and Telecommunications
January 2001 Creation of Postal Services Agency as part of realignment of government ministries
April 2003 Establishment of Japan Post

Banking

Japan Post Bank Co., Ltd., is a Japanese bank headquartered in Tokyo which is part of the Japan Post Holdings postal and financial services group. As of November 2008 it was reported as being the world's biggest deposit holder. Wikipedia

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Postal banking: A realistic and trustworthy alternative to big banks [View all] LuckyTheDog May 2016 OP

All of the letter carriers I know love this idea and I do too! k&r myrna minx May 2016 #1

We need to get the House and Senate. Kingofalldems May 2016 #2

which will newblewtoo May 2016 #29

Even if we had both chambers, I tom_kelly May 2016 #39

One of Bernie's ideas... 2cannan May 2016 #3

for years wallyworld2 May 2016 #12

Got a link to that claim? scscholar May 2016 #52

Nope wallyworld2 May 2016 #54

Postal Banking is an excellent idea. Piedras May 2016 #4

But DWS HATES this idea zalinda May 2016 #6

I wonder if this subject can be found in any of the transcripts of those speeches... Doctor_J May 2016 #5

I wonder if there are any minds disciplined enough to avoid irrelevancies... LanternWaste May 2016 #40

K&R. I would love for Hillary to adopt this too, if she ends up being the nominee. nt silvershadow May 2016 #7

Nothing that takes profits away from the banks is going to happen under a Hillary djean111 May 2016 #30

Prophecies are important to people during troubled times. LanternWaste May 2016 #41

So is repetition, apparently. mac56 May 2016 #47

Ha! SammyWinstonJack May 2016 #70

ROFL! SammyWinstonJack May 2016 #69

WE had this 1911-1967, same in Europe and other places as the article notes. appalachiablue May 2016 #8

You are right, and it worked fine. raging moderate May 2016 #26

I'm for it. TryLogic May 2016 #9

Madame Presidents bosses won't like this idea. snort May 2016 #10

the NEW Democratic Party - where good ideas go to die tomm2thumbs May 2016 #14

Fully agree. snort May 2016 #19

No wonder DiFi's hubby is in such a hurry to sell off postal sites RufusTFirefly May 2016 #11

A better alternative to big banks - credit unions Algernon Moncrieff May 2016 #13

Totally agree. But we can have credit unions AND postal banking RufusTFirefly May 2016 #15

I think we need both LuckyTheDog May 2016 #34

Republicans are trying to kill the Post Office. LS_Editor May 2016 #16

GOP is trying to kill the USPS because it has the largest unionized workforce left in the US. appalachiablue May 2016 #38

I'd first want to see how it will be financed SickOfTheOnePct May 2016 #17

The exact same way it was financed up until 1967 n/t eridani May 2016 #25

And how was that? SickOfTheOnePct May 2016 #28

With government funds eridani May 2016 #57

The postal service doesn't take government funds SickOfTheOnePct May 2016 #61

Easy--put the money now used on bullshit pension funding into it. n/t eridani May 2016 #62

At best SickOfTheOnePct May 2016 #64

Any fees area vastly less expensive than payday lenders charge. n/t eridani May 2016 #74

Very true SickOfTheOnePct May 2016 #76

Until 1967, we had basic postal banking which did NOT involve makine loans. n/t eridani May 2016 #77

I know that SickOfTheOnePct May 2016 #79

What is the percentage check cashiers take? Jesus Malverde May 2016 #80

No idea what they charge SickOfTheOnePct May 2016 #83

Enthusiastically recommended. hunter May 2016 #18

I agree it will help SickOfTheOnePct May 2016 #20

There's nothing wrong with an overdraft capacity having non-usurious interest rates. hunter May 2016 #21

Yes there is... reACTIONary May 2016 #23

Gave yourself away with the use of Hugh! TransitJohn May 2016 #60

So, do you have... reACTIONary May 2016 #65

Blue cantaloupe unicorn! TransitJohn May 2016 #72

Sheesh . ... Stop making sense. eom reACTIONary May 2016 #86

You want the post office to be... reACTIONary May 2016 #22

That is nonsense LuckyTheDog May 2016 #35

Most of the people getting payday loans 1939 May 2016 #58

It has worked just fine here in Switzerland since 1906. Heidi May 2016 #44

Only problem is 1939 May 2016 #67

Bernie advocates for USPS banking. It's a great idea. Dont call me Shirley May 2016 #24

Support the Commons Cosmic Kitten May 2016 #27

Could that kill local banks too? Adrahil May 2016 #31

I don't see why it would do that (nt) LuckyTheDog May 2016 #36

WEll, if this plan is intended to compete with Big Banks... Adrahil May 2016 #49

It is intended to compete with payday lenders LuckyTheDog May 2016 #50

The only service it would do would be check cashing 1939 May 2016 #68

No. The postal service could... LuckyTheDog May 2016 #71

The postal service could do savings and checking accounts 1939 May 2016 #73

How many actual 'local' banks are left... JCMach1 May 2016 #37

Quite a few actually. Adrahil May 2016 #48

how about credit unions melm00se May 2016 #32

Credit unions are not filling the gaps LuckyTheDog May 2016 #51

What gaps are there exactly? PersonNumber503602 May 2016 #78

I would be for the post office handling all the basic Rybak187 May 2016 #33

I've been banking at a Credit Union my entire adult life. Sam_Fields May 2016 #42

What about check cashing and managing the electronic benefits on behalf of the country. Jesus Malverde May 2016 #81

And they already sell money orders. KamaAina May 2016 #43

The USPS offered this service well into the early 70s. mac56 May 2016 #45

The banks really don't want to bother with these small accounts. JDPriestly May 2016 #46

They do not care about small savings accounts. truedelphi May 2016 #53

They don't want to within the bank, but they partner with payday loan companies..nt Jesus Malverde May 2016 #82

What an amazing thread. It is very easy to spot the thinking so typical of . . . . . Stinky The Clown May 2016 #55

I haven't seen anything like that SickOfTheOnePct May 2016 #56

Japan post offers banking and insurance. Jesus Malverde May 2016 #84

K&R! nt riderinthestorm May 2016 #59

We have that in the UK. auntpurl May 2016 #63

le Poste is a large bank in France. They offer many general and basic banking services. underahedgerow May 2016 #66

Works well in France burrowowl May 2016 #75

Postal banking system Jesus Malverde May 2016 #85