To help provide relief for California policyholders residing in Ventura and San Diego Counties affected by the winter storms, Aflac will provide a premium grace period starting Jan. 22, 2024, and ending Mar. 25, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder
To help provide relief for California policyholders residing in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, and Ventura Counties affected by the winter storms, Aflac will provide a premium grace period starting Feb. 3, 2024, and ending Apr. 4, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
To help provide relief for California policyholders residing in Alameda, Butte, Glenn, Lake, Mendocino, Monterey, Sacramento, San Francisco, Santa Cruz, Sonoma, and Sutter Counties affected by the winter storms, Aflac will provide a premium grace period starting Feb. 3, 2024, and ending May 21, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
On Feb. 21, 2024, the cyber event reported by Change Healthcare, a company that assists healthcare providers with claims submissions and payments, has created a significant impact to health care providers, including hospitals, individual practitioners, practice groups, diagnostic centers, laboratories, and pharmacies. We have determined Aflac’s primary operations are not impacted. Further, Aflac and its subsidiaries do not have any direct connection to Change Healthcare systems in any of Aflac’s systems or applications. At this time, we are not aware of any impact to customer data but we are monitoring for any communications from our critical third-party suppliers. While Change Healthcare’s cyber event was not directed at Aflac, we will provide flexibility with claims submissions related to this incident should it be needed. If you believe you have a claim impacted by Change Healthcare’s event, please contact Aflac at 800-992-3522.
AFLAC Incorporated
AFLAC Japan and Dai-ichi Mutual Life agreed to a major marketing alliance that anticipates the sale of each company's products through their respective distribution systems. The initial focus will be the sale of AFLAC Japan's supplemental insurance products through Dai-ichi Mutual Life's sales force. These sales are expected to commence in the first half of 2001, pending approval by regulatory authorities. In addition, the companies will use their expertise to develop new products and sales methods in the future. The alliance will also explore the opportunities for shared know-how in the areas of information technology and customer service.
Founded in 1902, Dai-ichi Mutual Life Insurance Company is Japan's oldest mutual life insurance company. Dai-ichi Mutual Life is the second largest life insurance company in Japan in terms of total assets, which amounted to Y30.0 trillion, or approximately $283.0 billion, at March 31, 2000, on a Financial Supervisory Agency (FSA) basis. The company has more than 1,900 sales offices throughout Japan and sells its life insurance products through more than 50,000 licensed salespeople.
AFLAC entered Japan's insurance market in 1974 and is the leading supplemental insurance company in Japan. AFLAC Japan is the largest foreign insurance company operating in that market based on premium income and profits. AFLAC is also the second largest life insurance company in Japan in terms of individual insurance policies in force with more than 14.6 million individual policies in force according to FSA data.
Commenting on the alliance, AFLAC Incorporated President and Chief Executive Officer Daniel P. Amos stated: "We are very excited to be joining forces with such a strong and well-respected company as Dai-ichi Mutual Life. AFLAC has produced a tremendous record of success over the last 25 years by providing consumers with affordable and valuable supplemental insurance products.
"As we look to the future of our business, we believe the opportunities for continued sales growth are significant. AFLAC Japan has a solid reputation as the most efficient and innovative insurer in Japan, and Dai-ichi Mutual Life has an extremely strong brand and a very effective sales force. The combination of AFLAC's and Dai-ichi Mutual Life's product knowledge and distribution will further enhance our respective competitive strengths. As a result, AFLAC will be even better positioned to capitalize on the vast opportunities we see ahead in Japan's deregulated insurance market. We believe this alliance is in the best interests of AFLAC's customers, sales associates and shareowners."
AFLAC Incorporated is an international holding company. A Fortune 500® company, AFLAC insures more than 40 million people worldwide. It is the leading writer of supplemental insurance marketed at the worksite, offering policies to employees at more than 160,000 payroll accounts in the United States and more than 286,000 customer accounts in Japan. AFLAC is ranked as the number one insurance company to work for in Fortune magazine's 2000 list of "100 Best Companies to Work For in America." AFLAC's Internet address is aflac.com.
AFLAC Incorporated will webcast a conference call on the investor information page of aflac.com at 8:45 a.m. (EDT), Thursday, September 7 to discuss the marketing alliance.
Forward looking information: Certain statements contained in this press release are "forward looking statements" within the meaning of the federal securities laws. Although the company believes that these statements are reasonable, it can give no assurance that they will prove to be correct because they are prospective in nature. Actual future results may differ materially from those discussed herein. We caution readers that the following factors, in addition to other factors mentioned from time to time in our reports filed with the SEC, could cause actual results to differ materially: regulatory developments, assessments for insurance company insolvencies, competitive conditions, new products, ability to repatriate profits from Japan, general economic conditions in the United States and Japan, changes in U.S. and/or Japanese tax laws, adequacy of reserves, credit and other risks associated with AFLAC's investment activities, significant changes in interest rates, and fluctuations in foreign currency exchange rates.
SOURCE: AFLAC Incorporated
Contact: analysts, Kenneth S. Janke Jr., 800-235-2667, or fax,
706-324-6330, or media, Kathelen V. Spencer, 706-596-3789, or fax,
706-323-1448
Website: http://www.aflac.com/
