Mizuho Bank with new pair loan insurance product amid Tokyo’s soaring property prices
In July, Mizuho Bank launched a pioneering pair-loan group credit insurance product in collaboration with Dai-ichi Life Insurance Co. This new offering is designed to alleviate the burden of mortgage repayments in the event of a borrower’s death or if they are diagnosed with cancer. Under this insurance scheme, the outstanding mortgage balance is effectively cleared if one of the borrowers passes away, ensuring that the surviving partner is not left with the full debt.