FAQ


Tips for first sign in.

How does Life inSharerance work?


Open Your Account
  1. Sign in is free. Your name, email and USA social security number (SSN) are information to identify you in Life inSharerance service.
  2. Confirm your email address by tapping link in the mail.
  3. Assign beneficiary from your spouse, child or parent, who is 18/+.
  4. You can change beneficiary anytime and any times.
  5. You can assign additional beneficiary, by adding new policy.

Subscribe Life policy
  1. Open your Paypal Account to subscribe inSharerance monthly premium.
  2. Policy period is one month. Policy is automatically renewal monthly.
  3. inSharerance premium is collected from your credit/debit card or bank account through Paypal.
  4. If you change mind or if you recover from your illness, you can terminate your policy any time.
  5. You can get 100% premium refund, if you terminate within 10 days; free-look period.

Benefits
  1. If you pass away within 7 days, no benefit payment, but 100% premium will be refunded to your Estate.
  2. Benefit amount is ;
    (Risk Pool amount in the policy holder's risk pool)/(reported death every month).
  3. If reported date is later month than death date, benefit amount is minimum of death and reported month.
  4. Benefit is variable by number of death in the month and in the risk pool, but $50 minimum guaranteed.
  5. Risk pool is separated by policy holder's age at last birthday on the first day of each month.

I do not have valid identity document.

To be compliant with anti money laundering policy, inSharerance requires identity document for personal identification. Thank you so much for your understanding.

Is my identity documents/information e.g. my picture properly protected? It is a very sensitive privacy information.

We understand your concern. We use these sensitive information only for personal Identification objectives only, required by anti money laundering policy.

Why am I rejected by Verification?

The detail reason can not be disclosed, but only because anti money laundering policy. Thank you so much for your understanding.



Questions on My Account/dashboard

How to update my personal information?

Please click "Update" in "Account Profile" in dashboard. Then you will find Update format. In some update information, we may require verification process again. Thank you so much for your understanding.

Can I have two policies?

Yes, you can buy additional policy with same/different beneficiary. But each policy has only one beneficiary.

What is closing time? Why I can not do any transaction last and first 3 hours every month?

From 21:00 to 24:00 on every last day of the month and from 0:00 to 3:00 on every first day of the month is "closing time". inSharerance recommend Participant "closing time", because;

  • Premium transfer from each account to risk pool;
  • Benefit calculation;
  • IT update, site architecture update;



Questions on legal structure, company structure etc.

Do you stop earthquake inSharerance?

No. It is now under development after market-fit activities. We negotiate with Japanese government to expand to corporate market. In near future more attractive and large scaled earthquake inSharerance will appear. Could you wait kindly?

Current customers are serviced without internet, but directly; one to one communication with us.

Why inSharerance do not have insurance license?

Delaware Insurance code §102(9)
 "Insurance" means a contract whereby one undertakes to pay or indemnify another as to loss from certain specified contingencies or perils, called "risks," or to pay or grant a specified amount or determinable benefit in connection with ascertainable risk contingencies or to act as surety.

We believe inSharerance is not insurance under Delaware insurance code, because;

  • Risk pool of insurance is owned by insurer, but inSharerance risk pool is co-owned by risk-sharing people's community.
  • Insurance benefit amount can be defined/calculated by insurer without influenced by other insured, but inSharerance benefit can be defined/calculated by all information of all risk-sharing people. In other word, insurance is the contract between two counter parties insurer and insured. inSharerance is many risk-sharing peoples’ collective agreement.
  • Regulator must monitor solvency/risk capital of insurers, because risk is transferred from insured to insurer. Insurer pays benefit by capital. On the other hand there is no risk transfer in inSharerance, which is only risk mitigation, i.e. risk-sharing. Theoretically risk capital is not necessary in inSharerance. Theoretically regulation is not necessary in inSharerance.
  • Substantially inSharerance is different from insurance. It is impossible/very expensive for traditional insurance to transfer Covid-19 risk. On the other hand, inSharerance can share/mitigate Covid-19 and various terminal illness risk.

Financial report of inSharerance
inSharerance KK (,000 JPY as of Nov. 2019)

Short Term 10,021
Fixed 8,371
Other 123
Total Asset 18,515

Liability 201
Capital 22,500
Surplus -4,186
Total L & C 18,515

Operational -2,165
Tax -190
Total Loss -2,356

inSharerance KK in Japan is the owner of inSharerance LLC.

inSharerance KK Financial Report 2018

inSharerance KK Financial Report 2019