When you hear “Life insurance deduction”, it may sound like it only covers a life insurance. But depending on your insurance plan (new or old), it actually covers private pension and medical care insurance as well.
The maximum amount of this deduction that you can claim will be determined by type of your insurance plan. For example, it is 120,000 yen for the new plan.
For more information about deductions for your tax return, please reach out to us for free consultation!