Product Specification#

Status: Draft, 2026-08-20 (all cited sources accessed 2026-08-20).

Scope note. This is a standardized composite specification assembled for reference liability cash-flow modeling. It does not describe any single insurer’s contract. Facts carrying a source tag — [S#] (primary product documents: policy conditions (yakkan, 約款), ご契約のしおり, 重要事項説明書, 商品ページ) and [R#] (product-specific regulatory and actuarial references), both numbered per _research/term-life.md and resolved in sources.md in this directory, numbering frozen; and [REG-R#], the cross-product library references/regulatory-and-actuarial-references.md, whose R-numbering is distinct — were extracted from the cited document. Values marked std are standardizations introduced for the reference implementation; every std table row carries a numbered footnote with its rationale and the observed range. Claims that could not be confirmed against a retrieved document are flagged unverified. The composite is drawn from nine carriers across fourteen documents: five policy-condition sets, one of which is also a pre-contract disclosure booklet [S1] [S4] [S6] [S7] [S8]; one 約款 extract that could not be text-extracted [S11]; one product brochure [S12]; and seven consumer or specification pages [S2] [S3] [S5] [S9] [S10] [S13] [S14]. Carriers are named only in sources.md and _research/; here a carrier is its tag.

This product is the library’s protection chassis. The survivor income term product specification (収入保障保険) (survivor income term) states only its deltas against this document and technical-notes.md in this directory, so the shared machinery — decrements, premium structure, renewal, exclusions, grace and reinstatement — is specified here in full and not restated there.

Product overview and market role#

Level term life (teiki hoken, 定期保険) is first sector (dai-ichi bun’ya, 第一分野) business under 保険業法第3条第4項第1号, which covers fixed-sum insurance on human survival or death and separates it from the third sector (dai-san-bun’ya, 第三分野) list of sickness, injury and nursing-care covers REG-R1. One parenthesis in that clause matters here more than anywhere else in the library: it brings within the first sector the state of 「余命が一定の期間以内であると医師により診断された身体の状態」, a physician-certified limited life expectancy R1. The terminal-prognosis acceleration sold as リビング・ニーズ特約 (a tokuyaku, rider) therefore sits inside the same licence as the death benefit.

The dominant retail shape is level term (平準定期保険): non-participating (muhaitō, 無配当), without surrender value (mu-kaiyaku-henreikin-gata, 無解約返戻金型), level sum assured, level premium within the term, and the benefit paid on death or on severe disability (kōdo shōgai, 高度障害) at the same amount [S1] [S4] [S8] [S9] [S12]; one carrier names the chassis in its literature as 無配当平準定期保険 [S13]. Decreasing term (teigen teiki hoken, 逓減定期保険) is a separate product, not a payout option on this one [S14]. Two term designs coexist and are contrasted by name: a fixed number of years (nen manryō, 年満了) renews automatically at attained-age rates, while to a stated age (sai manryō, 歳満了) never renews [S1] [S2] [S4] [S5]; one carrier calls them 更新型 and 全期型 [S7]. That renewal structure is the sharpest contrast with a UK term assurance, which simply expires, and with a U.S. level term, whose post-level tail is priced annually rather than as a fresh level term.

定期保険 is a minority of new individual policies and a plurality of new individual cover. For FY2024, 生命保険協会 member companies report it in force at 2,721万件 — 13.9% of 個人保険 by count, behind 医療保険 (23.3%) and 終身保険 (19.7%) — but at 300兆4,672億円 of sum insured, 38.6%, the largest single share; new business was 135万件 (10.9% by count) and 24兆6,666億円 (43.2% by sum insured) REG-R31. Household evidence agrees: 89.2% of two-or-more-person households hold cover, average 世帯普通死亡保険金 is 1,936万円 and falling, average household premium is 35.3万円 across 3.8 policies, and among most recently bought policies 定期保険 is 8.3% against 終身保険 29.2% and 医療保険 28.1% R9. The product is bought in large amounts by relatively few households, and matters to this library more as a building block — the parent of the survivor income term product specification (収入保障保険), the death half of every combination product — than as a headline seller.

Published rate cards exist, and that is a real documentary contrast with uklib. Where no UK insurer publishes a premium basis and the uklib model had to treat the office premium as an opaque input, four carriers here publish a monthly premium scale on an open page: two vary the sum assured as well as sex and age [S2] [S9], one tabulates sex × age per ¥1,000,000 of cover and publishes it both before and after a repricing [S10], and one tabulates sex × age at a single sum assured [S12]. A fifth publishes single worked examples [S5]. Three price the same cell — male 30, 10-year term, ¥10,000,000 — at ¥974, ¥980 and ¥1,068 a month [S2] [S9] [S5]. What is still not published is the basis behind those prices: the assumed interest rate (yotei riritsu, 予定利率), 予定死亡率 and 予定事業費率 sit in the 保険料及び責任準備金の算出方法書 filed under 保険業法第4条第2項第4号, which is not public REG-R2. The observable pricing artefact for a Japanese protection product is the rate card, not the parameters — which is why every pricing-basis parameter in this library is std while every contractual parameter is sourced.

Representative specification#

Product identity and issue rules#

Parameter	Representative value	Basis
Design type	平準定期保険, 無配当, 無解約返戻金型; main contract (shu-keiyaku, 主契約) pays death and 高度障害 only	[S1] [S4] [S8] [S9] [S13]; participation std (1)
Benefit shape	Level sum assured; 逓減 is a separate product, out of scope	[S1] [S4] [S8]; scope std (2)
Lives basis	Single life. No joint-life basis appears in any retrieved document	[S1] [S4] [S8] [S12]
Regulatory class	第一分野 (保険業法第3条第4項第1号)	REG-R1 R1
Issue age (契約年齢)	20–65, age last birthday (man-nenrei, 満年齢) with fractions discarded	[S1] [S2] [S8] [S10]; envelope std (3)
保険期間 / 保険料払込期間	Equal, always. Base 年満了 10年 with automatic renewal; 歳満了 to 60/65/70/80歳 as a model-point variant	[S1] [S2] [S4] [S8] [S9]; menu std (4)
Renewal ceiling	Attained age 80; a renewal passing it truncates to an 80歳満了 term	[S1] [S2] [S8] [S13]; pick std (5)
Sum assured (保険金額)	¥1,000,000 – ¥30,000,000, in ¥1,000,000 units	[S2] [S9] [S13]; envelope std (6)
Non-medical limit	告知 only to ¥30,000,000 at ages 18–40, stepping to ¥5,000,000 at 71–80	[S4]; adoption std (7)
Rate classes	One (標準体); preferred and non-smoker classes are a documented variant	[S1] [S2] [S4] [S8] [S9] [S10]; pick std (8)
Anchor model cell	Male, 契約年齢 30, 年満了 10年更新型, 保険金額 ¥10,000,000, 月払保険料 ¥974, ceiling 80	premium [S2]; cell choice std (9)

Footnotes to std rows:

Seven carriers write 無配当 [S1] [S4] [S8] [S9] [S10] [S13] [S14], four of them saying so in the product name itself [S1] [S4] [S13] [S14], and one 約款 putting it in a sentence: 「この保険契約については、契約者配当はありません。」 [S1]. One writes a 有配当 design with policyholder dividends (keiyakusha haitō, 契約者配当) accumulating at interest and paid on request or termination, and says plainly that a dividend may not be payable at all in a given year [S7]. Composite: 無配当, the mode.
Level and decreasing are distinct products. The only retrieved 逓減 document states the decrement as a formula — the benefit falls by 基本保険金額 ÷ 保険期間 each year from the second policy year — and the premium falls with the cover, the opposite of the UK convention [S14]. Out of scope; Variations, item 11.
Observed minima run 6 to 25 (6 [S12]; 15 [S9] [S10]; 18 [S4]; 20 [S2] [S8]; 25 [S14]) and maxima 65 to 80 (65 [S2] [S10]; 69 [S8]; 75 [S12] [S14]; 80 [S4] [S9]). Composite: 20–65, the modal bounds and the exact envelope of one carrier [S2]. 契約年齢 is age last birthday (man-nenrei, 満年齢) with fractions discarded [S1]; one carrier measures it at the 契約日, the first of the month after application [S4]. The valuation table is built for age nearest birthday (hoken-nenrei, 保険年齢) REG-R20; the technical notes must say what they do about the mismatch.
Observed menus span one fixed term [S8]; 10/20/30年 plus 65/80/90歳満了 [S4]; 年満了 10–30年 and 歳満了 60–80歳, both in five-year steps [S2]; 10年 plus four 歳満了 ages [S9] [S10]; any term from 5 years in one-year steps [S14]; and a free 満了時年齢 envelope [S12]. Composite: the 10-year renewable term, the only term every carrier writes, with 歳満了 as a variant — the 更新型 / 全期型 contrast is the product’s defining mechanic and a model that cannot represent both cannot represent the product. 保険期間 equals 保険料払込期間 everywhere, and altering one alters the other [S1] [S4] [S8] [S9] [S12].
Observed ceilings: 75 [S10], 80 [S2] [S8] [S13], 90 [S4] [S9], 99 [S12]; 80 is the mode. Behaviour at the ceiling varies more than the ceiling does (Variations, item 2); the composite truncates, the rule of the two carriers whose ceiling it adopts [S1] [S2] [S8].
Observed ceilings run ¥10,000,000 [S10] to ¥100,000,000 [S4] [S9], with two carriers at ¥30,000,000 [S2] [S13]; minima are ¥1,000,000 [S9] [S10], ¥2,000,000 [S9] or ¥5,000,000 [S2] [S13], one carrier banding the minimum by age [S4]. Composite: the modal private-writer ceiling and unit, inside the surveyed cover bands REG-R32 R9. Increases are refused at two carriers, which require a new contract; decreases are permitted above a floor [S4] [S8].
Two carriers publish non-medical limits by age band: ¥30,000,000 at 18–40 stepping to ¥5,000,000 at 71–80 [S4], and ¥50,000,000 at 15–39 stepping to ¥5,000,000 at 76–80 [S9]. Composite: the tighter [S4]. Underwriting decline is not modeled; the limit is carried so a model point above it is visibly outside the represented product.
Class counts observed: 1 at five carriers [S1] [S2] [S4] [S8] [S9] [S10] — the word 非喫煙 does not occur in one 84-page booklet [S8] — 3 at one [S12], 4 at another [S13], and an elective 健康体割引特約 at a further one [S14]; the ninth carrier publishes no rate-class position at all. Published maximum discounts are 約14.5% (優良体) and 約30.6% (非喫煙者優良体) on three tiers [S12] and 約54% on four [S13]. Composite: single class — the majority position, and a class structure multiplies the premium basis without changing any contractual mechanic. Two facts a model must keep if it implements one: the class is fixed at issue and carried unchanged through every renewal to age 80 regardless of later health, and applying a risk-segmented rate is the stated reason that carrier has no surrender value (kaiyaku-henreikin, 解約返戻金) [S13].
The anchor is the cell three carriers independently publish: male 30, 10-year, ¥10,000,000 — ¥974/month [S2] against ¥980 [S9] and ¥1,068 [S5], a 9.6% spread on the same risk. ¥974 is taken because that carrier publishes enough grid to decompose the premium (footnote 11). ¥10,000,000 sits inside every carrier’s band and near half the surveyed average household death cover of 1,936万円 R9. What is standardized is the choice of cell; the premium is a published figure.

Premiums#

Parameter	Representative value	Basis
Premium basis	Level within the 保険期間; recomputed at each 更新 on attained age and the scale then in force	[S1] [S4] [S8] [S12]
Frequency	月払 default; 半年払 and 年払 available and switchable	[S1] [S3]; default std (10)
Payment route	口座振替 or credit card; 振込 and 団体扱 also seen	[S1] [S4]
Rate structure	Marginal rate per ¥5,000,000 of cover plus a flat monthly policy fee, adopted as ¥248 at every age and both sexes	[S2]; adoption std (11)
Rating factors	Sex, 契約年齢, 保険期間, 保険金額, 払込方法	[S8] [S9]
Large-case discount (高額割引)	Not applied	[S7] [S9] [S14]; scope std (12)
Advance payment (前納)	Available at an insurer-set discount, held at interest; not modeled	[S1] [S10]; scope std (12)
Pricing basis (予定利率 etc.)	Not published for any protection product in the set; the model’s basis is std	REG-R2; gap (13)

One carrier offers 月払・半年払・年払 with switching [S1] [S3]; two are 月払 only, one noting 年払 was not on offer as at 2024年4月 [S4] [S8]; one allows 1–12 months or the whole remaining term at once [S10]. Monthly is available everywhere, so the composite defaults to it and the annual-grid model uses P_a = 12 × P_m std.
The published grid is exactly arithmetic in the sum assured. At male 30 the ¥5,000,000 / ¥10,000,000 / ¥15,000,000 premiums are ¥611 / ¥974 / ¥1,337 — a constant step of ¥363 per ¥5,000,000, leaving 611 − 363 = 248 as the flat element; female 30 and female 50 give the same ¥248, and male 40, male 50 and female 40 give ¥248.5, the half-yen being an artefact of the whole-yen rounding the card is printed at [S2]. Taking the flat element as ¥248 and rounding half up to the yen reconstructs all eighteen published cells exactly — six sex-and-age rows at three sums assured — the anchor among them as 974 = 248 + 2 × 363. Limits worth stating: this is one carrier’s grid at one date, and a second carrier’s 歳満了 rows are exactly proportional to the sum assured with no flat element while its 10年更新 rows are not [S9]. The policy fee is a design choice, not a market constant.
高額割引 exists at three carriers; only one publishes thresholds, at ¥30,000,000 with a further step at ¥50,000,000, the 基準額 for a term product being the 保険金額 itself [S7] [S9] [S14]. The anchor sits below the only published threshold, so the composite omits the discount rather than guess two unpublished schedules. 前納 is omitted for the same reason: its discount rate is insurer-set and unpublished [S1].
No carrier publishes the 予定利率 of its 定期保険; the disclosures naming 予定利率 and 予定死亡率 relate to savings products [S7]. This is structural, not a research failure — those coefficients live in the unpublished 算出方法書 REG-R2. The current numeric standard valuation interest rate (hyōjun riritsu, 標準利率) for level-premium first-sector business likewise could not be established from any retrieved document and is unverified; the mechanism setting it is sourced R5 REG-R10. The technical notes build a std pricing and best-estimate basis and reconcile it to the published rate card, rather than claim a basis they cannot see.

Benefit provisions#

Parameter	Representative value	Basis
死亡保険金	保険金額, on death within the 保険期間; terminates the contract	[S1] [S4] [S8] [S9] [S12]
高度障害保険金	The same 保険金額, on entering a 高度障害状態 within the 保険期間 from a cause arising on or after 責任開始時; terminates the contract	[S1] [S4] [S8] [S9] [S12]
高度障害状態	The closed eight-item 別表3 schedule with numeric 備考 (corrected acuity ≤ 0.02; hearing loss `(a + 2b + c)/4 ≥ 90 dB` at 500/1,000/2,000 Hz)	[S1]
Recipient	死亡保険金 to the 死亡保険金受取人; 高度障害保険金 to the 被保険者, not redirectable	[S1] [S12]
Ordering	Whichever becomes payable first is paid; the other is then not paid	[S1] [S8]
Suicide exclusion	No death benefit where the insured takes their own life within 3 years of the 責任開始日 (or of the last 復活); the window runs through renewals	[S1] [S4] [S7] [S8]
Other 免責事由	Intentional killing by the 死亡保険金受取人, or by the 保険契約者 — three limbs in total in every 約款 retrieved	[S1] [S4] [S7] [S8]
Amount on a 免責	Policy reserve (sekinin-junbikin, 責任準備金) to the policyholder on the suicide and beneficiary-intent limbs; nothing on the policyholder-intent limb	[S1]
War and catastrophe	Not an exclusion but a reduction power where an upheaval affects the costing basis	[S1] [S4] [S8]
Pre-inception cause	Bars 高度障害保険金 and the waiver, subject to disclosure exceptions; the death benefit carries no pre-existing-condition restriction	[S1] [S4] [S8]
満期保険金	None	[S1] [S8] [S10] [S14]
Claim timetable	5 business days from complete documents; 45 days where verification is needed; 180 days for special enquiries. Not modeled as a lag	[S1]; scope std (14)

The timetable is contractual and is a real lag, but no document publishes the mix of claims falling into the three bands, so any split would be invented. The composite pays at the step in which the claim arises and says so; a claim-lag module belongs in the technical notes’ sensitivities, not the base run.

Options#

Parameter	Representative value	Basis
リビング・ニーズ特約	Attached automatically, no separate disclosed premium. Trigger: a physician’s judgement of 6 months or less to live even with treatment generally accepted in Japan	[S1] [S2] [S3] [S7]; attachment std (15)
— amount	`指定保険金額 − six months' interest on it − six months' premiums on it`	[S1] [S7] [S8] [S12]
— cap	¥30,000,000 per insured, aggregated across all of that insurer’s contracts	[S1] [S7] [S8] [S12]
— term bar	No payment within 1 year of the 保険期間満了 unless automatic renewal is still available	[S1] [S7] [S8]
— effect	Full payment extinguishes the contract and all 特約 retroactively to the claim date; partial payment reduces the 死亡保険金額 from that date and the reduced premium continues. One payment per contract	[S1] [S7]
保険料の払込の免除	In the 主契約: premiums waived where the insured, from an 不慮の事故 on or after 責任開始時, comes within 180 days to a 別表4 身体障害の状態	[S1] [S8] [S12] [S14]; placement std (16)
更新	Automatic unless declined; notice to decline 2 weeks before expiry	[S1] [S8]; notice std (17)
減額	Permitted above an insurer-set floor; premium reset; no 払戻金 arises from the reduction	[S1] [S8]
増額	Not available; a new contract with fresh underwriting is required	[S4] [S8]
指定代理請求特約	Standard; a pre-nominated proxy may claim where the insured is the beneficiary and cannot	[S1] [S8] [S12] [S14]
Indexation / GIO / conversion / joint life	Absent from every retrieved document	[S1] [S4] [S8] [S9] [S12]

Attachment varies three ways: automatic at two carriers [S2] [S3] [S7], elective at two [S8] [S12], and absent at one — the string リビング・ニーズ does not occur anywhere in its 45-page booklet [S4]. Composite: automatic, the position of the carrier supplying the anchor premium, so the acceleration sits inside the modeled contract. That the rider is free of charge is market convention but unverified: no retrieved document states a nil 特約保険料, though the six-month deduction supplies the economic reason it can be, and one carrier lists it among the 特約 carrying no dividend [S7].
Four carriers put the waiver in the main contract on the accident-plus-180-days-plus-別表4 test [S1] [S8] [S12] [S14]; one puts it there but keys it off 傷害 generally [S4]; one sells it as an optional 保険料払込免除特約 [S7]. Composite: modal placement and trigger. 別表4 is a materially lower bar than 別表3 — loss of one eye, deafness in both ears, loss of one limb at wrist or ankle — so the waiver decrement is not the 高度障害 decrement and must not share its rate. Once the waiver runs, the alteration rights are switched off [S1].
Observed notice: 2 weeks [S1] [S8], 1 month [S7], 2 months [S4]. Composite: 2 weeks, the mode and the shortest — the shorter the notice, the more renewals happen by inertia.

Termination and values#

Parameter	Representative value	Basis
解約返戻金	None, for the whole term: 「この保険契約については、解約払戻金はありません。」	[S1] [S3] [S4] [S6] [S8] [S9] [S10] [S13] [S14]
責任準備金	Exists although the 解約返戻金 does not, computed by months of premium paid and months elapsed; payable on two of the three 免責事由	[S1]
払済保険 / 延長定期保険	Not available on the composite; one carrier offers 払済保険	[S1] [S4] [S8]; [S12]
Grace (猶予期間)	Monthly premiums: the first to the last day of the month following the 払込期月, about one month	[S1] [S8]; length std (18)
Claim during grace	Paid, net of the unpaid premium. A waiver event in grace differs — arrears must actually be paid or the policy lapses and the waiver is refused	[S1] [S4] [S8]
Lapse (失効)	The day after grace ends; no value payable	[S1] [S8]
Reinstatement (復活)	Available for 3 years, against arrears with interest at 年6% compound [S1], on evidence of health [S8]	[S1] [S8]; availability std (19)
自動振替貸付	Absent, stated in terms by one carrier	[S7] (20)
契約者貸付	Not available on the composite. There is no 解約返戻金 to lend against — an inference, not a citation	[S11] unverified (20)
告知義務違反	Rescission for 2 years from 責任開始 or the last 復活; barred 1 month after the insurer learns the ground; no 払戻金 on rescission	[S1] [S4]
詐欺・不法取得目的	Not time-limited; survive the 2-year window; no refund	[S1]
クーリング・オフ	15 days from application at one carrier against a statutory floor of 8 days; out of scope	[S1] REG-R36; scope std (21)
時効	Rights to a 保険金, to the 責任準備金, or to a waiver extinguish 3 years after becoming exercisable	[S1] [S10]

Observed range about one to three months (Variations, item 3). Composite: about one month, the mode [S1] [S8]. For 年払 and 半年払 one carrier’s grace runs to the monthly anniversary in the month after next, with named substitutions where that falls on the last day of February, June or November [S1]; carried as documented detail, not modeled.
Observed: 3 years with 年6% compound interest on arrears [S1]; 3 years subject to health [S8]; and not offered at two carriers [S4] [S7]. The composite includes it. A policy that comes back is a real, modelable behaviour with no analogue in the uklib composite, which terminates lapsed policies finally, and 復活 is the only event that resets the suicide and contestability clocks. Its rate of use is a std behavioural assumption in the technical notes; no document publishes one.
The 自動振替貸付 absence is sourced: one carrier states it twice — 「この保険には、保険料の自動振替貸付制度…はありません。」 [S7]. The 契約者貸付 absence is not. That same carrier points its policyholders at the 契約貸付制度 to settle an unpaid premium instead [S7], so [S7] is evidence for a policy loan, not against one; the only document appearing to rule the policy loan out is the one whose PDF could not be text-extracted, so that reading is unverified [S11]. What carries the composite is structural rather than documentary — with no 解約返戻金 there is no collateral for either loan — and it is stated here as an inference so a reader can reject it. The supervisory guideline requires an 自動振替貸付, where one exists, to operate at the policyholder’s election with prompt notice, not as an automatic no-lapse rule REG-R14 — so its absence removes an election, not a guarantee. A lapse model for this chassis is therefore a plain lapse model, which is part of why it is the right chassis to specify first.
保険業法第309条 gives an eight-day cooling-off from the later of disclosure-document delivery and application, effective when the withdrawal document is dispatched, and disapplies it where the insurance period is one year or less REG-R36. One carrier contracts for 15 days [S1], permitted because it favours the policyholder. It is a genuine early-duration decrement and the composite excludes it explicitly: the model begins with cover in force and the cooling-off population already out.

Contractual mechanics#

Premium provisions#

The office premium is level within each 保険期間 and is not guaranteed beyond it. With P_m the monthly premium, SA the sum assured, x the 契約年齢 and n the term in years, the composite’s published rate structure [S2] is:

P_m = f + r(sex, x, n) * SA / 5,000,000
f   = 248                      (yen per month, the flat policy element)

At the anchor cell r(M, 30, 10) = 363 and P_m = 248 + 2 * 363 = 974 [S2]; the annual-grid model uses P_a = 12 * P_m = 11,688 [std annualization]. Premiums are due monthly by 口座振替 or credit card [S1] [S4]. There is no premium review within a term: the only contractual route by which the premium changes is 更新, and it changes then by construction rather than by insurer discretion.

Death and 高度障害 benefits#

The main contract (shu-keiyaku, 主契約) pays two benefits of the same amount, and either terminates the contract [S1] [S4] [S8] [S9] [S12]:

死亡保険金    = SA, on death within the 保険期間
高度障害保険金 = SA, on entering a 別表3 高度障害状態 within the 保険期間

There is no U.S. or UK analogue for the second in this library. It is neither a critical-illness rider nor a terminal-illness acceleration but the whole sum assured on a closed schedule of permanent total disabilities, inside the main contract, at no separate premium. The eight items are total permanent loss of sight in both eyes; of speech or mastication; central-nervous-system or psychiatric impairment and thoracic or abdominal organ impairment, each requiring constant lifelong care; and four limb-loss combinations at or above wrist and ankle. The 備考 fix the operative terms numerically: 「視力を全く永久に失ったもの」 is corrected acuity of 0.02 or below with no prospect of recovery, and 「常に介護を要するもの」 requires inability to perform any of eating, toileting, dressing, rising, walking and bathing unaided [S1].

Four mechanics follow that a claims model must get right.

Ordering. If the 高度障害保険金 is claimed and payable before the death benefit is paid, the death benefit is not paid; once the death benefit has been paid, no 高度障害 claim is entertained [S1]. One carrier words the same principle from the other side: if the insured dies before the 高度障害 claim is settled, the death benefit is paid instead [S8]. The two are competing risks on one sum assured, not additive covers.

Recipient. 高度障害保険金 goes to the 被保険者 and cannot be redirected, the only exception being a corporate policyholder that is also the death beneficiary [S1] [S12]. That is why 指定代理請求特約 exists: someone disabled enough to meet 別表3 is often unable to claim.

Run-off past expiry. Where at the 保険期間満了日 the disability is present but its irrecoverability is not yet established, and it later proves irrecoverable, the insurer treats the 高度障害状態 as met on the expiry date and pays; if it recovers, nothing is paid [S1]. Expect 高度障害 claims to be reported after the term ends, though none is incurred after it.

The decrement basis, and the trap in it. 生保標準生命表2018（死亡保険用）includes 高度障害 inside its death rate REG-R20. A model that projects the standard-table qx for death and adds a separate 高度障害 incidence on top double-counts the benefit. The composite therefore treats 死亡 and 高度障害 as one decrement carrying one sum assured, and splits them only where a stated reason exists.

更新 — automatic renewal at attained-age rates#

Unless the policyholder gives notice, a 年満了 contract renews on the day after the 保険期間満了日 for the same term and the same 保険金額, with no fresh underwriting and no 告知 [S1] [S4] [S8] [S12]. The renewed premium is recomputed on the attained age at the renewal date and the scale then in force, and the renewed contract is governed by the 約款 then in force [S1] [S4] [S8] [S12]. Every carrier warns that the renewed premium is usually higher [S1] [S4] [S7] [S8]. Renewal is refused where the elapsed period from 契約日 to the renewed expiry would exceed the insurer’s range, where the attained age the day after the renewed expiry would exceed it, and where the 保険期間 is 歳満了 — a 歳満了 contract never renews [S1].

Four further mechanics matter to a projection:

The clocks do not restart. Suicide and contestability run from the original 責任開始 and the renewed term is continuous with the prior one [S4]. One carrier words it from the exclusion side — 「ただし、更新された場合を除きます。」 [S8] — another from the coverage side, the three-year window running 「（更新後の保険期間を含みます。）」 [S1]. Only 復活 restarts them.
A failed first renewal premium unwinds the renewal. The first premium of the renewed contract falls due by the last day of the month containing the renewal date; unpaid through grace, the renewal is treated as never having happened [S1] and the policy terminates at the original expiry rather than being 解除 [S7]. In a projection that is an expiry, not a lapse.
Product withdrawal does not lapse the policy. If the insurer no longer writes the product, the policy moves to a comparable contract it designates [S1] [S4] [S12].
The reserve clock restarts although the risk clock does not. The 責任準備金 basis 「保険料を払い込んだ年月数および経過した年月数」 is read after renewal as counted from the renewal [S1]. No new 保険証券 is issued [S1] [S4].

At the ceiling the carriers diverge, and the divergence is a modelling fork rather than a wording difference (Variations, item 2). The composite truncates: a renewal that would carry the policy past attained age 80 renews instead as an 80歳満了 term, so cover always ends exactly at 80 and never at an age determined by the renewal grid [S1] [S2] [S8].

リビング・ニーズ特約#

The insurer makes the six-month judgement on a physician’s certificate and may require examination by a physician it nominates [S1] [S7]. One carrier prints the amount as 支払金額 = Ａ − Ｂ − Ｃ, adding that where a 更新 falls inside those six months the post-renewal months are charged at the renewal-age premium [S1]. That discount is the economic reason the rider can be offered without a separate premium.

Three differences from UK terminal illness cover all matter to a model: the trigger is 6 months, not 12; the payment is discounted, not the full sum assured; and it is a rider with a ¥30,000,000 per-insured cap aggregated across all of that insurer’s contracts [S1] [S7] [S8] [S12], so on a large policy it accelerates only part of the cover. Because a full payment extinguishes the contract retroactively to the claim date while a partial payment leaves a reduced contract in force at a reduced premium [S1] [S7], the two cases are different transitions in a projection, not one benefit with two amounts.

Exclusions, contestability and rescission#

Three 免責事由 for the death benefit, and only three, appear in every 約款 retrieved (Benefit provisions, above). Where a part-beneficiary is the killer, the remaining shares are still paid [S1]. What is paid instead differs by limb and is a real if small cash flow: the 責任準備金 goes to the policyholder on the first two limbs and nothing on the third [S1]; one carrier pays the 解約払戻金 on the third limb where one exists [S7]. Two carriers note that suicide arising from a mental disorder may still be paid [S4] [S8].

The three-year suicide window is three times the UK’s twelve months, and it is contractual, not statutory. 保険法第51条第1号 excludes suicide with no time limit at all; the 免責期間 in a Japanese 約款 narrows that statutory exclusion in the policyholder’s favour, which is why its length is a per-carrier fact and never an assertion of law REG-R34. On the evidence here it does not vary: four carriers all say three years [S1] [S4] [S7] [S8].

告知義務違反 runs on a separate, shorter clock. The insurer may rescind prospectively where the policyholder or insured, intentionally or by gross negligence, failed to state or misstated a fact it asked about — even after a claim event, in which case the benefit is not paid and any benefit already paid may be reclaimed [S1]. Rescission is barred where the insurer knew or negligently did not know the fact, where an intermediary obstructed or encouraged the misstatement, one month after the insurer learns the ground, or where 2 years have passed from 責任開始 or the last 復活 without a claim or waiver event arising [S1] [S4]. Even after rescission the benefit is paid if the claimant proves the event did not arise from the concealed fact [S1] [S7]. The statutory ceiling behind the carriers’ two years is five years from conclusion, with a one-month use-it-or-lose-it clock from discovery REG-R35; contracting to two is permitted because it favours the policyholder, and the supervisory guideline separately requires the window not to be unduly long REG-R14. Rescission for 詐欺 and voidness for 不法取得目的 sit outside both windows, are not time-limited, and carry no refund [S1].

The product therefore carries two windows on two clocks — three years for suicide, two for non-disclosure — both restarting on 復活 and neither on 更新.

Grace, 失効 and 復活#

For monthly premiums the 猶予期間 runs from the first to the last day of the month following the 払込期月; the day after it the contract 失効s [S1] [S8]. A claim arising within grace is paid net of the unpaid premium [S1] [S4] [S8]. A waiver event within grace is treated differently, and the difference is easy to model wrongly: the arrears must actually be paid by the end of grace, or the policy lapses and the waiver is refused [S1] [S4]. 復活 is then available for three years, and resets the suicide and contestability clocks from the new 責任開始 [S1]. There is no 自動振替貸付 to carry the policy through non-payment — one carrier states that absence in terms [S7] — and no collateral for a 契約者貸付 either, on the inference of footnote 20 rather than on a citation: grace → 失効 → 復活-or-not is the entire persistency machinery of this chassis, which is why it belongs in the chassis document.

Expiry#

A 歳満了 contract expires at the end of its term with nothing payable and no maturity value [S1] [S8] [S10] [S14]. A 更新型 contract expires only at the renewal ceiling — attained age 80 on the composite — because until then it renews. That is the structural difference from uklib, whose composite terminates all states at the end of a single term with no tail liability: here the base model carries the policy across renewal boundaries, reprices it at each one, and terminates it at the ceiling.

Riders and options#

In scope (modeled or parameterized):

高度障害保険金 — in the 主契約, same sum assured, one decrement with the death benefit [S1] [S4] [S8] [S9] [S12].
更新 — modeled: attained-age repricing, truncation at the ceiling, clocks not restarting [S1] [S4] [S8] [S12].
リビング・ニーズ特約 — parameterized as a discounted acceleration with the ¥30,000,000 cap and the one-year bar; switchable off in the base run, and a model point above the cap must show the cap binding [S1] [S7] [S8] [S12].
保険料の払込の免除 — the waiver state is specified (accident, 180 days, 別表4) and excluded from the base projection [std scope]; its incidence is not the 高度障害 incidence and must not reuse that rate [S1] [S8] [S12] [S14].
復活 — a reinstatement transition out of the lapsed state at a std behavioural rate, with the clocks restarting [S1].
減額 — a sum-assured change with no payment, since no 払戻金 arises from it here [S1] [S8].

Out of scope: 災害割増特約 [S8] [S9] [S14]; 傷害特約, 年金支払特約, 保険契約者代理特約 [S14]; 特定疾病保険料払込免除特約 [S9]; 無配当災害特約, 医療特約 and 無配当先進医療特約, of which one carrier permits at most three [S10]; 特定障害不担保特約, which excludes a named disability from the 高度障害 and waiver triggers and carries into renewed terms [S1] [S4]; 指定代理請求特約, which changes who claims and not what is paid [S1] [S8] [S12] [S14]; 据置支払, the beneficiary’s option to leave the benefit on deposit at interest [S1]; 保険期間の変更, which is permitted with consent, resets premiums, refunds nothing and requires any shortfall in the 責任準備金 to be paid in [S1] [S8]; 特別条件 acceptance in its Japanese forms of 保険金削減支払法 and 特定部位不担保法 [S7]; 払済保険 conversion, which exists at the one carrier with a cash value [S12]; and 逓減 cover, a separate product [S14].

Absent from the market rather than out of scope: no retrieved document offers indexation or increasing cover, a guaranteed-insurability option on the main contract, joint-life cover, or a conversion option. The nearest thing to a GIO is one carrier’s post-expiry window: where a contract has run more than two years and then expires, is surrendered or is reduced, a new policy may be taken within one month without medical evidence or 告知 [S12].

Variations across insurers#

Age and term envelope. 契約年齢 minima run 6 to 25 and maxima 65 to 80; term menus run from a single 10-year term [S8] to a free 満了時年齢 envelope [S12]. Composite: 20–65, the 10-year renewable base with 歳満了 as a variant (footnotes 3, 4).
Behaviour at the renewal ceiling. Four distinct rules. Truncate to a 歳満了 term, one carrier stating the band precisely — renewal ages 満71 to 満79 convert a 10-year term into an 80歳満了 term [S1] [S2] [S8]. Shorten year by year so the expiry age is exactly 90, refusing renewal from attained age 満90 [S4] [S5]. Shorten or lengthen to reach a 指定年齢, with published examples of a 10-year term renewed for 7 years in one direction and 13 in the other [S7]. Or do not renew at all and auto-convert into a different product [S12]. Composite: truncation (footnote 5). This is the item most easily got wrong by assuming the ceiling alone determines the run-off; it does not.
Grace, lapse and reinstatement — the widest variation in the product. About one month’s grace then 失効, with 復活 for 3 years at 年6% compound [S1]; the same but 復活 subject to health [S8]; about two months then 失効 and no 復活 at all [S4]; and no 猶予期間 whatever, replaced by a 催告 and a 解除予定日 in the third month, ending in 解除 with no 復活 [S7] — at which carrier a single shared premium means non-payment 解除s every contract in the package except any paid separately, and a 頭金 already paid is lost with it [S7]. Composite: one month, 失効, 復活 for three years (footnotes 18, 19). One carrier’s clauses are missing from this comparison because its PDF could not be text-extracted [S11].
Surrender value: seven to one. Seven carriers have none, in a single 約款 line [S1] [S4] [S6] [S8] [S9] [S10] [S13] [S14]; one has a 解約返戻金 and offers 払済保険 conversion after the first policy year, though not 延長定期保険 [S12]. A Japan term chassis cannot assume the absence of a cash value the way a UK one can. One carrier publishes the price of the difference: ¥4,864 a month for the protection-only design against ¥11,298 for an otherwise identical design with a surrender value — male 20, 90歳満了, ¥10,000,000, a factor of 2.32 — the cash-value version’s surrender value running from ¥1,037,000 at duration 10 to ¥5,084,000 at duration 60 and back to zero at duration 70, the age-90 expiry [S4]. That last row is the diagnostic one: a 90歳満了 term is not an endowment however large its mid-term value. The carrier states it does not sell that version and that the figures are its own 参考金額 [S4]. Composite: no surrender value.
Rate classes. One class at five carriers, three at one, four at another, an elective 健康体割引特約 at a further one [S1] [S2] [S4] [S8] [S9] [S10] [S12] [S13] [S14]. Published criteria where they exist are concrete: 最大血圧140未満・最小血圧90未満, BMI 18.0–27.0, and for the non-smoker tier no smoking within the past year evidenced by both a 告知 and the insurer’s own cotinine test, failure of which drops the applicant one tier [S12]. Composite: one class (footnote 8).
リビング・ニーズ特約 attachment. Automatic [S2] [S3] [S7], elective [S8] [S12], or absent [S4]. Composite: automatic (footnote 15). Its terms, by contrast, do not vary at all — item 12.
Waiver of premium placement. Main contract on an accident test [S1] [S8] [S12] [S14]; main contract on 傷害 generally [S4]; or an optional 保険料払込免除特約 [S7]. Composite: main contract, accident test (footnote 16).
Participation. 無配当 at seven carriers [S1] [S4] [S8] [S9] [S10] [S13] [S14]; one 有配当 design with dividends accumulating at an insurer-set rate from the next 契約応当日 and paid on request or termination [S7]. Composite: 無配当 (footnote 1).
Sum assured envelope and 高額割引. Ceilings ¥10,000,000 to ¥100,000,000; discount thresholds published by one carrier only, at ¥30,000,000 and ¥50,000,000 [S7] [S9] [S14]. Composite: ¥1,000,000–¥30,000,000, no discount (footnotes 6, 12).
Payment frequency. 月払 only at two carriers [S4] [S8]; 月払・半年払・年払 with switching at another [S1] [S3]; 1–12 months or a lump sum at a fourth [S10]. Monthly is available everywhere. Composite: monthly (footnote 10).
Cover shape. Level at seven carriers; one writes a 逓減 product in which the benefit falls by 基本保険金額 ÷ 保険期間 each year from the second policy year and the premium falls with it [S14]. Descriptions of other 逓減 designs, including one stepping down to a floor of 20% of the 基本保険金額, are unverified; no second 逓減 document was retrieved. Composite: level only (footnote 2).
What does not vary. Five things are identical at every carrier examined and are the product’s fixed spine rather than choices: (i) the death benefit and the 高度障害保険金 are the same amount and either terminates the contract [S1] [S4] [S8] [S9] [S12]; (ii) the 高度障害状態 schedule is the same eight-item 別表3 with the same numeric 備考 [S1]; (iii) the suicide exclusion is 3 years from the 責任開始日, restarting only on 復活 and never on 更新 [S1] [S4] [S7] [S8]; (iv) the contestability window is 2 years on the same clock [S1] [S4]; and (v) where the living-needs rider exists at all its terms are uniform — 指定保険金額 less six months’ interest and premiums, capped at ¥30,000,000 per insured aggregated across contracts, barred within one year of a non-renewable expiry [S1] [S7] [S8] [S12]. A composite may choose among the eleven items above; it may not alter these five and still be describing the Japanese product.

Regulatory context#

Prudential — ESR, and what it replaced. From 2026年3月31日 insurers are supervised on the economic-value-based solvency regulation (keizai-kachi bēsu no soruvenshī kisei, 経済価値ベースのソルベンシー規制, ESR), a three-pillar regime in which assets are at fair value and insurance liabilities are the current estimate (genzai suikei, 現在推計) re-measured at the reporting date plus a MOCE, calibrated to 99.5% over one year. Early corrective action is triggered at ESR below 100%, with bands at 70% and 35% REG-R15. It replaces, as the trigger, the ソルベンシー・マージン比率 threshold of 200% REG-R17 REG-R15. The two are not comparable: at 2025年3月末 the life industry stood at ESR 215% against SMR 873% REG-R15. What matters here is not the ratio but the basis — the old regime fixed mortality, lapse and interest at issue (原則ロックイン) while ESR re-sets them at each 基準日, which makes a re-runnable, assumption-parameterized liability cash-flow model the operative artefact. jplib computes neither ratio.

Statutory reserving — cited, not reproduced. 保険業法第116条第1項 requires a policy reserve (sekinin-junbikin, 責任準備金) at each 決算期; 第2項 delegates, for the long-term contracts the ordinance specifies, both the accumulation method and the level of the underlying coefficients REG-R4. 施行規則第68条 fixes the contracts in scope REG-R7 and 第69条第1項 the taxonomy 保険料積立金 / 未経過保険料 / 払戻積立金 / 危険準備金 REG-R8. In-scope contracts may not fall below the Commissioner’s basis; others are floored at the net level premium method (heijun jun-hokenryō-shiki, 平準純保険料式) amount, which the ordinance defines in line as levelling the funding across the whole premium-paying period R2. 平成8年大蔵省告示第48号 supplies method and rates — 平準純保険料式 with no Zillmer adjustment, and the 標準生命表 vintage by contract date REG-R10; from 2018-04-01 the basis is 生保標準生命表2018（死亡保険用） REG-R11. The 標準利率 derives from an 指標金利 built on JGB yield averages with 安全率係数 applied by band R5 REG-R10; its current numeric value could not be established from any retrieved document and is unverified. This library projects gross cash flows and builds none of these reserves.

The valuation table, and why the shipped table is std. 生保標準生命表2018（死亡保険用）is published in full, free, at a stable public URL by 日本アクチュアリー会 as the 指定法人 under 保険業法第122条の2第1項 R3 REG-R18 — the sharpest contrast in the library with uklib, where the current CMI term-assurance tables are restricted to Authorised Users and cannot be read at all. Anyone can retrieve the Japanese table and check a rate: male q30 = 0.00068, q60 = 0.00653; female q30 = 0.00037, q60 = 0.00363 R4 REG-R18. Two qualifications hold nonetheless. The publisher’s terms prohibit reproduction, alteration and transmission to third parties without written consent, so the library cites the table, quotes only the rates a worked example needs, and ships its mortality CSV as a std construction whose provenance column points at the IAJ entries REG-R21. And the table is a valuation table: a risk-theory margin sized to about a 2σ exceedance probability capped at 130% of the unadjusted rate, plus a forward improvement allowance of 2.5% p.a. for five years then 1.0% for three, built on a 保険年齢 basis and including 高度障害 inside the death rate REG-R20. A best-estimate basis is therefore a std adjustment of a sourced table, in a stated direction, and each document must say which of the two it is using at each point.

Professional standards, and what a Japanese projection is for. 保険業法第121条第1項第1号 requires the 保険計理人 to confirm at each 決算期, in an 意見書, that the 責任準備金 is accumulated on sound actuarial principles REG-R6. The IAJ practice standard turns that into the 1号収支分析 (ichi-gō shūshi bunseki, item-1 income-and-outgo analysis): an annual forward projection of premiums, claims, expenses and surrenders by 区分経理 segment over at least ten future years, in open and closed variants, sufficiency tested over the first five REG-R22. That is the regulatory use of a liability cash-flow model in Japan, and the shape this product’s projection takes.

Conduct and classification. 定期保険 is 第一分野 business REG-R1 R1. The supervisory guideline fixes pre-contract disclosure: the 契約概要 must carry the product mechanism, the cover with its main 支払事由 and 免責事由, the principal 特約, the 保険期間, underwriting terms, the premium and its payment terms, dividends and the level of any 解約返戻金; the 注意喚起情報 must carry クーリング・オフ, 告知義務, 責任開始期, the main non-payment cases, and 保険料の払込猶予期間、契約の失効、復活 REG-R14. Every one of those is specified above with a source tag, which is what makes this composite documentation-grounded rather than plausible. 保険業法第309条 gives an eight-day cooling-off on a dispatch rule, scoped out here (footnote 21) REG-R36. The contract itself is governed by the 保険法: 第51条 for the statutory suicide exclusion, which has no time limit and which the 約款 narrows to three years REG-R34, and 第55条 for 告知義務違反, whose five-year ceiling and one-month discovery clock bound the carriers’ two-year windows REG-R35. On insurer failure, 生命保険契約者保護機構 covers contracts up to 90% of the 責任準備金, under a rate delegated by 保険業法第270条の3 to ordinance REG-R40 REG-R41; the reduced rate for 高予定利率契約 is unverified here. Cited, never modeled.

Tax. Premiums fall in the 一般生命保険料 basket of the post-2012 三区分 — 一般 / 介護医療 / 個人年金 — each giving an 所得税 deduction of the full premium up to ¥20,000 tapering to a flat ¥40,000 above ¥80,000, the three capped together at ¥120,000 R7 REG-R43; the 住民税 schedule, absent from the tax authority’s page, runs to a flat ¥28,000 per basket above ¥56,000 [S4]. At the anchor cell the annual premium of ¥11,688 is deductible in full, so the deduction is not a material driver at this size. Death-benefit taxation turns on the 契約者 / 被保険者 / 受取人 triangle — 相続税 where 契約者 = 被保険者, 所得税（一時所得）where 契約者 = 受取人, 贈与税 where all three differ [S1] — and where 相続税 applies and the recipient is an heir, ¥5,000,000 × the number of statutory heirs is exempt, apportioned in proportion to the amounts received REG-R44 REG-R45 [S4]. The 高度障害保険金 and the living-needs benefit are in principle tax-free where received by the insured or a close relative [S1] [S4]. jplib models contractual cash flows and not the policyholder’s tax position.

Accounting. Japan has no mandatory IFRS 17: IFRS applies as 指定国際会計基準 on a voluntary basis REG-R47. A jplib projection therefore feeds three separate measurement bases — J-GAAP statutory reserving REG-R10, the ESR economic balance sheet REG-R15, and IFRS where an insurer has adopted it — and a document that conflates them will be wrong about which assumptions are locked in and which are re-set.