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ORIX Life Insurance Corp. will introduce Sept. 1 what it calls “unprecedented cheap” life insurance products available only through mail order, the firm announced August 28.

The company can lower the premiums by 4.6 percent to 28.1 percent compared with those on its other similar products by cutting distribution costs involving agents and branches. The products, designed for individuals, are part of the firm’s competitive strategy with Big Bang financial reforms looming large, it said.

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