A large number of expats in Japan and other countries have been mis-sold Investment-linked Assurance plans (ILAS plans) also called portable pension plans, unit-linked life insurance plans, offshore pension plans or other similar name. They are sold by insurance companies via advisors. Advisors are paid a large up front, undisclosed comission payment which creates a huge conflict of interest. I contend that the only reason an advisor would recommend such an expensive and inflexible investment plan is to earn a fat comission payment, and therefore the payment of a large comission to an advisor is akin to bribery. These companies recoup their huge comission payments by charging very high fees often hidden in a complex fee structure. Furthermore, they are often located in environments with poor or no regulation, providing little or no consumer protection. 

If you have been mis-sold one of these plans, or know someone who has, please consider signing our petition, and posting links on your facebook, twitter, blogs etc. 

Best Wishes