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Business trends

Life insurance to cost less as Japanese live longer

Insurers to pass on savings from fewer death-benefit payouts

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Dai-ichi Life Insurance and its peers likely will lower life insurance premiums, as people living longer means a drop in benefit payment.   © Reuters

TOKYO -- Japanese life insurance providers likely will reduce premiums by 5-10% beginning next year, as the data they use to calculate insurance charges is expected to be revised to reflect longer life expectancy.

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