Aflac Inc was incorporated in 1973 under the laws of the state of Georgia. It is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries by providing management services and making capital available. The Company and its subsidiaries sell supplemental health and life insurance in the United States and Japan. The Company's insurance business is marketed and administered through American Family Life Assurance Company of Columbus or Aflac, which operates in the United States 'Aflac U.S.' and as a branch in Japan 'Aflac Japan'. Aflac's policies are individually underwritten and marketed through independent agents. The insurance operations in the United States and its branch in Japan service the two markets for its insurance business. It continues to diversify its product offerings in both Japan and the United States. Aflac Japan sells supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans and annuities. Aflac U.S. sells supplemental insurance products, including accident/disability plans, cancer expense plans, short-term disability plans, sickness and hospital indemnity plans, hospital intensive care plans, fixed-benefit dental plans, vision care plans, long-term care plans, and life insurance products. Aflac Japan's insurance products are designed to help consumers pay for medical and nonmedical costs that are not reimbursed under Japan's national health insurance system. Aflac Japan's stand-alone medical product, EVER, offers a basic level of hospitalization coverage with an affordable premium. The cancer insurance plans it offers in Japan provide a lump-sum benefit upon initial diagnosis of internal cancer and a fixed daily benefit for hospitalization and outpatient services related to cancer as well as surgical, convalescent and terminal care benefits. It also offer traditional fixed-income annuities and care policies. The Company has designed the U.S. insurance products to provide supplemental coverage for people who already have medical or primary insurance coverage. Aflac U.S. offers an accident and disability policy to protect against losses resulting from accidents. The accident portion of the policy includes lump-sum benefits for accidental death, dismemberment and specific injuries as well as fixed benefits for hospital confinement. The U.S. cancer plans are designed to provide insurance benefits for medical and nonmedical costs that are not covered by medical insurance. Aflac U.S. offers a specified health event policy that gives consumers a choice of three benefit and premium levels. Aflac U.S. offers Vision NowSM, which provides benefits for serious eye health conditions and loss of sight. It offers a series of fixed-benefit dental policies, providing various levels of benefits for dental procedures, including checkups and cleanings. The Company competes against several insurers on a national basis plus other insurers regionally in the U.S. The Company and its insurance subsidiaries, Aflac (a Nebraska-domiciled insurance company), American Family Life Assurance Company of New York (Aflac New York, a New York-domiciled insurance company) and CAIC (a South Carolina-domiciled insurance company) are subject to state regulations in the United States as an insurance holding company system. Aflac Japan is also subject to regulation and supervision in the United States.
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