Product Specification#
Status: Draft, 2026-09-03 (every cited source accessed 2026-09-03).
Scope note. This is a standardized composite specification assembled for reference liability cash-flow modelling of a Korean children’s insurance (어린이보험, eorini boheom) contract — a fixed-benefit (정액, jeongaek) 제3보험 (je-sam boheom, third-sector) policy written on a child, very often before the child is born, running from birth to a 100세 만기 (mangi, expiry), and consisting of a small accidental-disability basic contract carrying a very large bundle of riders. It describes no single insurer’s contract, and it must not be read as one.
Facts carrying a source tag — [S#] (primary product documents: 보험약관 (boheom yakgwan,
policy conditions), 상품요약서 (sangpum yoyakseo, the statutory pre-contract product
summary), and the 손해보험협회 comparison-disclosure board) and [R#] (product-specific
supervisory, statutory and research references), both numbered per _research/child.md and
resolved in sources.md in this directory (numbering frozen, never renumbered), and [REG-R#]
(the cross-product reference library references/regulatory-and-actuarial-references.md, whose
own R-numbering is distinct and also frozen) — name the document the claim was read from.
Values marked std are standardizations introduced for the reference implementation; each
std row carries a numbered footnote giving the rationale and, where the research file
brackets it, the range observed across insurers. Claims no retrieved document could confirm are
flagged unverified.
The composite is drawn from eleven carriers. Five current 상품요약서 from five 손해보험
(non-life) writers give the benefit menus, the issue-age grids, the 면책기간 matrix and three
complete cash-value tables [S2] [S3] [S4] [S5] [S6]; a 2019 상품요약서 from the same line as
[S3] gives the pre-2023 issue ages, the graded 무해지 scale and the only published pricing
lapse rates and the only published incidence rate in the whole file [S1]; three 약관 — two
생명보험 and one 손해보험 — give the 태아가입특칙 verbatim, the 생명보험 form of the premium
waiver and a pure 비갱신 무해지 wording [S8] [S9] [S10] [S12]; one 약관 gives the 갱신형
architecture and the 보험나이 article with its worked example [S7]; and the 손해보험협회’s
regulated comparison board supplies 41 products from 10 carriers with their published
premiums, 예정이율, 공시이율, 최저보증이율 and 보험가격지수 [S11]. Two documents could not be
used — a 생명보험 약관 whose CID-keyed fonts defeated extraction [S14] and a product page whose
two fetches returned mutually contradictory renderings [S15] — and a third is used only as a
marker of unverified figures [S16]. Company and branded product names appear only in
sources.md and in _research/child.md.
Deltas against the fixed-benefit 제3보험 chassis. The cancer specification
(암보험) is krlib’s 정액 제3보험 chassis: diagnosis-triggered
lump sums on a tier ladder keyed to the KCD, a 90-day 면책기간 whose breach makes the affected
cover void, a 감액기간 on top of it, a 유사암 reduced tier, a premium waiver correlated with
the diagnosis benefit, and a contract with no death benefit that pays the 계약자적립액
(gyeyakja jeongnipaek, the policyholder’s account balance) on a death it does not cover.
Child_KR_S inherits all six and changes six things. Three of them have no counterpart
anywhere in this repository.
태아가입 (taea gaip, foetal enrolment): the contract is written before the insured exists. A 태아 has no legal personality and cannot be the 피보험자 of an 인보험 contract, so the 태아가입특칙 makes the foetus the insured at birth [S8 제54조] R3. Cover attaches at birth and not at the 계약일 — sixteen insurers were ordered in 2016 to stop advertising otherwise R2 — the 계약나이 is fixed at 0 at the 계약일 [S8 제60조], the contract is priced male because the sex is unknown and trued up after delivery R3 [S8], and if the pregnancy ends in 유산 or 사산 the contract is 무효 and every premium is returned [S8 제56조]. The projection opens on a life that does not yet exist: its first months carry premium income, a void decrement and a short pre-birth benefit term, but no mortality and no morbidity on the insured at all.
보험료 납입면제 on the 계약자 (gyeyakja, policyholder): a premium-waiver decrement on a life who is not the insured. On the 생명보험 form the waiver fires on the child’s cancer diagnosis or 50% disability or on the 계약자’s own death or 50% disability, in one clause [S10 제22조]; it works because that wording makes the 피보험자 of the contract 「계약자와 가입자녀」 — the policyholder is himself an insured [S10 제3조]. On the 손해보험 form the same economics arrive as a compulsory 부양자 death rider written on the parent’s own life, obligatory on any 태아 contract [S5] [S11]. Either way the model carries two decrement lives, and the premium stream stops on the earlier of two events drawn from two different mortality tables.
The 면책기간 is disapplied below 보험나이 15, and entirely on a 태아 contract. The 90-day cancer waiting period that defines the chassis was removed for 어린이보험 in 2006, there being no evidence of anti-selection or of a 위험률차손 at child ages R5; current wordings implement it as 「최초계약과 부활계약의 면책기간은 보험나이 15세 이상인 경우에만 적용」 [S3], and a 태아가입용 rider has 「면책기간 없음」 at all [S3]. The chassis’s sharpest anti-selection control is switched off for the first fifteen years of a hundred-year contract.
There is no 감액기간, and on a 태아 contract there may not be one. The market has moved to 감액없음 and prints the word in the benefit names [S1] [S3] [S11]; where a 감액 survives it is a first-year 50% [S6] [S11]. And a supervisory 변경권고 of 2015 removed the 감액 for contracts written while the insured was a foetus, across 17 carriers and 56 products, with the before-and-after wording set out side by side R2.
No death benefit below 만 15세, by statute rather than by design.
Cancer_KR_Shas no death benefit because the composite chose not to carry one;Child_KR_Smay not have one. 상법 제732조 makes a contract on the death of a person under 15 void, and the 표준약관 restates it at 제19조제2호 with an express refusal to extend the age-correction saving to it R7 REG-R50 REG-R25. 제739조 disapplies 제732조 to 상해보험, so an accidental-death cover on a child is lawful, but the market does not write one below 15 [S1] [S4] [S11].The benefit is a bundle, not a ladder. The basic contract is a 상해후유장해 (accidental residual-disability) cover paying 보험가입금액 × 장해지급률 on a continuous percentage scale [S1] [S2] [S4] [S5] [S11]; the cancer, cerebrovascular and cardiac diagnosis benefits the chassis is built around are three riders among more than a hundred R5. Two whole rider blocks are written on other lives — the 부양자 stack on the parent and the 임신·출산질환 stack on the mother — and 가족일상생활배상책임 is a third-party liability cover that only a non-life licence may attach R5 [S5].
The horizon is the other structural fact. At 계약나이 0 to a 100세 만기 the projection runs
1,200 monthly periods, the longest in krlib, and the premium is paid over the first 240
of them. A child policy is a seventy-to-hundred-year guarantee on a bundled rider stack whose
morbidity has barely begun, written on a life whose sex is not yet known.
Product overview and market role#
What an 어린이보험 is, and the two licences that write it#
The industry disclosure board’s own definition is 「태아·어린이를 포함한 성장기 자녀에게 발생할 수 있는 질병과 상해위험을 보장하는 보험」 R12. The supervisor’s older and fuller formulation adds the liability limb and the issue-age band: 「자녀의 성장 과정 중 발생할 수 있는 질병·상해로 인한 의료비와 자녀의 일상생활 중 발생하는 배상책임 등을 보장하는 보험상품(가입연령 : 0세~15세)」 R2.
It is 제3보험 business — 상해보험 and 질병보험 together, under 보험업법 제2조제1호다목 and 제4조제1항제3호 — and 제4조제3항’s deeming provision makes the class writable by a life or a non-life insurer alike REG-R1. In this product the two licences have not converged, and that is the first thing a specification has to get right. 보험연구원 is direct: 「어린이 보장성 상품은 손해보험회사를 중심으로 판매되고 있으며, 생명보험회사는 변액과 연금의 강점을 내세워 어린이 저축성 상품 시장을 선점」, and attributes the split to the fact that only a non-life insurer may attach 배상책임담보 and 비용담보 R5. The comparison board carries 41 products from 10 non-life carriers [S11]; there is no 생명보험 counterpart to it in this file, and that absence is the largest single gap behind this document. The composite is therefore drafted as a non-life carrier’s 장기손해보험, which 감독규정 제7-61조 designs identically to a 제3보험 contract REG-R17, with one deliberate exception: the premium waiver is taken from the 생명보험 form [S10 제22조], the only retrieved wording in which the 계약자’s death is a contractual event of the main contract rather than the benefit of a separate rider.
Structurally the contract is a small 기본계약 plus a very large 특별약관 stack. At every non-life carrier examined the 기본계약 is a 상해후유장해 cover paying 가입금액 × 장해지급률 [S1] [S2] [S4] [S5] [S11]; everything else — cancer diagnosis, cerebrovascular and ischaemic heart diagnosis, surgery, hospital cash, fracture, burn, liability, the foetal covers, the parent covers, the mother covers — is a rider. The rider count is a competitive strategy: by 2018 a child policy carried 「100여개 이상의 질병 및 상해사고에 대한 보장 담보」 R5, and [S2]’s eligibility tables run to roughly forty pages. Naming is not standardised — 어린이보험, 자녀보험, 아이보험, 태아보험 and branded names all appear — and the 2023 supervisory restriction bites on the name rather than the design R1, so a product sold at older issue ages may be renamed rather than restructured.
태아보험 is not a product — it is an 어린이보험 with a 특칙 attached#
The 태아보험 (taea boheom) of ordinary Korean speech has no separate legal existence. The supervisor says so:
법규 상 ‘태아보험’이라는 별도의 보험상품은 없으나, 어린이보험에 태아가입특약(胎兒加入 特約)이 첨부되어 출생 전 태아 상태에서 보험가입이 가능한 상품을 실무적으로 ‘태아보험’ 으로 지칭하고 있음 * 태아는 법적으로 인격(人格)을 갖지 못하므로 인보험의 보호대상이 될 수 없음. 따라서 태아의 출생을 조건으로 하는 ‘태아가입특약’을 통해 태아를 대상으로 한 보험계약을 체결
and, in one line, 「태아보험 = 어린이보험 + 출생시 위험보장」 R3.
It is not a fringe variant. In FY2007 335,135 of 1,622,639 new child contracts — 20.7% — were written in utero, and about the same fraction of premium R3. The 태아가입특약 was introduced in 2000 and 보험연구원 calls it the single largest contributor to the product’s growth R5. Every current 상품요약서 retrieved offers it, with 가입나이 written as 「태아」 at the head of the issue-age grid [S2] [S3] [S4] [S5] [S6].
How the product reached 100세 만기, and the 2023 supervisory action#
The line is old and the dates are known R5 unless marked. 1958-07: 진학보험, Korea’s first education endowment; 교육보험 dominates the individual market into the 1980s and declines from 1990 as tuition inflation outruns the benefit. 1997: the first true 어린이 보장성 상품, at 가입연령 2~14세 and 15/20년 or 18/22세만기, with a 사망위로금 that returned premiums on death before 15. 2000: the 태아가입특약. 2003 and 2004-07: the first child CI products, the second of which R5 calls the best-selling child policy ever written in Korea, at 주피보험자 태아~15세, 피부양자 20~50세, 보험기간 15/18/20세만기. 2005: high-cost critical-illness benefits. 2006: the 90-day cancer waiting period is removed for 어린이보험. 2010: outpatient riders, and their loss experience. 2011: the move to 100세 만기, after which a hundred-year term becomes the norm and adult-disease covers are bolted on for the post-30 segment. 2012-10-01: all foetuses of a multiple pregnancy become insurable R4. 2013-09: the P-code decision. 2015-06-17 → 2016-04: the 감액 for foetal contracts is removed R2. 2016-07: sixteen carriers are ordered to stop advertising cover before birth R2.
2023-07-19 is the datable intervention and it is easy to get wrong. It is a 감독행정 (supervisory administration), not a rule change, announced in a 보도자료 distributed 2023-07-19 for publication on 2023-07-20, with existing products to be amended by the end of 2023-08 R1. The 어린이보험 section reads, verbatim:
2 어린이보험 □ (현황 및 문제점) 가입연령을 35세까지 확대함에 따라 어린이 특화 상품에 성인이 가입하는 등 불합리한 상품 판매 심화 ◦ 또한, 어린이에게 발생빈도가 극히 희박한 뇌졸중, 급성심근경색 등 성인질환 담보를 불필요하게 부가 □ (추진방안) 최대 가입연령이 15세를 초과하는 경우 ‘어린이(자녀)보험’ 등 소비자 오인 소지가 있는 상품명 사용 제한
Three things follow. First, the measure restricts the product name, not the issue age; a carrier remains free to sell above 15, it may not call the result an 어린이보험. In practice every carrier cut the age, and the current 상품요약서 show 태아~15세 [S2] [S4]. Second, the second limb is a supervisory statement about the morbidity basis: the adult-disease riders on a 100세만기 child policy are priced on an exposure that barely exists for the first three decades of the term. Third, the framing is prudential as well as conduct — the release names 「보험계약마진(CSM) 증대 등을 위한 불합리한 보험상품 개발·판매」 as the cause, and flags that the 무·저해지 lapse assumption would be dealt with separately 「금년 중」, which it was R11 REG-R27.
The age creep itself, evidenced within two product lines:
Product line |
Edition |
가입나이 (100세만기 forms) |
Source |
|---|---|---|---|
Carrier A, 어린이보험 1910 |
2019-10 |
0 ~ 30세 |
[S1] |
Carrier B, 다이렉트 어린이보험 (Hi2204) |
2022-04 |
0 ~ 30세 |
[S7] |
Carrier B, 어린이종합보험Q (Hi2607) |
2026-07 |
태아 ~ 15세 |
[S2] |
Carrier C, 자녀보험Plus (26.07) |
2026-07 |
태아, 0 ~ 15세 |
[S4] |
The 35 figure named in R1 is not visible in any retrieved product document; both pre-action products stop at 30, and that two carriers went to 35 in 2023 rests on news reports and is unverified.
What is public, what is not, and what that forces#
The data position for this product is worse than for Cancer_KR_S and it must be stated at the
outset, because it decides which parameters below can be sourced and which cannot.
Public and used. The 손해보험협회’s regulated comparison board publishes, for every non-life 어린이보험 on sale, the product name, the channel, the 보장부분 적용이율, the 적립부분 공시이율 and its 최저보증이율, a specimen male and female monthly premium on a standardised basis, the 보험가격지수, and a link to the 상품요약서 [S11]. The standardised basis is printed on the board and is the only specification of a Korean child policy the market itself publishes R12. Every 상품요약서 publishes a complete surrender-value grid on a named specimen contract [S1] [S2] [S3] [S4].
Partly public, and the consequence. 보험개발원 files the 참조순보험요율 with the FSC
under 보험업법 제176조제4항 and there is no general obligation to publish it REG-R4, and on
the life side nothing of it reaches the public. On the 장기손해보험 side — which is the
chassis this product is written on — 제176조제9항 permits publication where policyholder
protection requires it, and 보험개발원 does publish a dated display carrying, by age and
sex, a 「기타피부암 및 갑상선암 이외의 암 발생률」 grid on the insured definition that excludes
C44 and C73, a 질병입원율 grid stated in expected days per life-year, and 후유장해 rates
REG-R61. Its published age grid reaches 연령 0 and 10, so it is not true that no Korean
child incidence rate exists in public, and this document does not say so. Two things are
nonetheless true and both bind here. This product’s own research pass never opened that
display — it was reached in the cancer and indemnity_medical passes on the same day, and
REG-R61 records the omission — so nothing in incidence_table.csv was built off its values.
And a 참조순보험요율 is a net premium rate carrying a safety loading, not a best estimate
REG-R9 REG-R61, so adjusting one to a best-estimate basis would itself be a std step. The
산출방법서 that holds each carrier’s own 적용위험률 and 예정사업비율 remains an undisclosed
기초서류 REG-R2, and the 경험생명표 is released only as summary statistics
REG-R33 REG-R34. Every incidence assumption in Child_KR_S is therefore still a std
construction and says so at the point of use — but as a construction that has not been
reconciled to a published reference grid rather than as one for which no grid exists. The
direction of the gap is stated where it bites: on the general cancer tier the shipped
paediatric anchors sit at roughly 0.6 (male) and 0.5 (female) of the published rate at 연령 0
and 10, while the adult anchors sit near or slightly above it, so the divergence has no
single sign and a later pass should re-base the rows rather than rescale them.
Three public anchors bound the construction, and only one of them is a rate: the published
premium levels on the R12 basis (§Premiums), which bound the total; the 보험가격지수,
which bounds the ratio of total premium to the sum of the 참조순보험료 and average expense
[S11] REG-R22; and exactly one 적용위험률 published anywhere in this file — 일반상해
후유장해 발생률(3~100%) at the 기본계약, 5세, 상해 1급: 남자 0.0001823, 여자 0.0001163
[S1]. That single pair is the only observation of a Korean child morbidity rate in the whole
research file, and it is the calibration point for the basic contract’s decrement in
technical-notes.md.
Representative specification#
Product identity and issue rules#
Parameter |
Representative value |
Basis |
|---|---|---|
Design type |
어린이보험, 무배당 (mubaedang, non-participating), 정액 (fixed-benefit); a 상해후유장해 기본계약 with a bundled 특별약관 stack, plus a 태아 module, a 계약자 waiver module and rider blocks on the parent and the mother |
[S1] [S2] [S4] [S5] [S11]; menu std (1) |
Regulatory class |
제3보험상품 — 상해보험 and 질병보험 (보험업법 제2조제1호다목, 제4조제1항제3호), written as a 장기손해보험 to which 감독규정 제7-61조 applies the whole 제3보험 design rule |
|
Written by |
A 손해보험회사; the composite adopts the 생명보험 wording of the premium waiver only |
|
보장성 / 저축성 |
보장성보험 — the maturity value does not exceed premiums paid at the 기준연령 요건 (감독규정 제1-2조제3호) |
|
Chassis |
비갱신형 on the core covers; 갱신형 blocks on 가족일상생활배상책임 (3년만기) and named riders, renewing at attained age |
[S2] [S3] [S12] vs [S7]; std (2) |
Policy term (보험기간) |
To the 100세 계약해당일; no 만기환급금 on the protection part |
[S1] [S2] [S3] [S5] [S6] [S11]; std (3) |
Premium-paying period (보험료 납입기간) |
20년납 on the core covers; 전기납 on the 태아 module and on the 갱신형 blocks |
|
Issue age (가입나이) |
태아 ~ 보험나이 15세 |
|
Issue age, pre-2023 |
0 ~ 30세 on the 100세만기 forms — retained as a documented historic variant, not offered |
[S1] [S7]; R1 |
Contractual age basis |
보험나이 (boheom nai, insurance age): 계약일 현재 만 나이 with a fraction under six months discarded and six months or more rounded up, incrementing at each 계약해당일. The 만 15세 nullity test uses 실제 만 나이 |
[S7 제27조] [S8 제30조] [S12 제30조]; REG-R25 제21조; R8 |
Foetal age basis |
계약나이 0세 at the 계약일; the benefit-scale age runs from the date of birth; the 계약일 is moved back where birth falls more than six months after it |
[S8 제58조·제60조·제61조] |
Model age basis |
만나이 (age last birthday), offset from 보험나이 by up to six months |
std (6) |
Sum insured, 기본계약 |
₩100,000,000 (1억원) of 상해후유장해, paid as 보험가입금액 × 장해지급률 |
R12; [S11] |
Lives basis |
Three lives. The child is the 피보험자; the 계약자 (a parent) carries the waiver decrement; the mother carries the 임신·출산질환 block. All three are on one contract |
[S2] [S5] [S10]; std (7) |
계약자 |
A parent, 만 33세 at the 계약일, male |
[S2]; std (7) |
Sex of the insured |
Male at pricing on a 태아 contract, since the sex is unknown at issue; trued up after delivery |
|
Underwriting |
계약 전 알릴 의무 questionnaire, no medical examination; a 태아 contract is additionally subject to a gestational-week window on the neonatal riders |
[S5]; REG-R25 제13조 |
Substandard terms |
특정 신체부위·질병 보장제한부 인수특약 |
[S8] |
배당 |
None — 무배당 |
[S1]–[S6] [S11]; REG-R12 |
Death benefit |
None below 만 15세, by statute. On death the 계약자적립액 + 미경과보험료 is paid and the contract ends |
R7; REG-R50 제732조; REG-R17 제7-63조제1항제1호; REG-R25 제22조; REG-R19 제7-66조제5항; std (9) |
암보장개시일 |
제1회 보험료를 받은 때 while the insured is 보험나이 15 미만; the 91st day counting the 계약일 as day 1 from 보험나이 15; no waiting period at all on a 태아가입 cover |
|
감액기간 |
None |
|
Surrender-value form |
표준형 base, with 해약환급금 미지급형 (납입기간 중 0%, 납입 후 50%) as the switch |
[S2] [S11]; REG-R19 제7-66조제4항; std (12) |
Anchor model cell (point_id 1) |
태아가입; 계약나이 0 at the 계약일, priced male; birth at policy month 5; 보험기간 to the 100세 계약해당일 ( |
std (13) |
Footnotes to the std rows:
The menu, and the licence. No two retrieved products carry the same rider set and none could be reproduced in full — [S2]’s eligibility tables run to roughly forty pages and [S4]’s 상품요약서 to 207. What every retrieved non-life product shares is the shape, a 상해후유장해 기본계약 paying 가입금액 × 장해지급률 with everything else a 특별약관 [S1] [S2] [S4] [S5] [S11], and a published standardised specification of the compulsory covers exists on the comparison board R12. The composite takes R12’s specification rather than any one carrier’s, because it is the only child-policy benefit menu the Korean market publishes and because every published premium in §Premiums is quoted on it. The contract is drafted non-life because the protection product is a non-life product R5 and because the liability rider needs that licence; 감독규정 제7-61조 makes the design rules identical either way REG-R17, so nothing turns on the licence except the waiver wording of footnote (14).
비갱신형 with 갱신형 blocks inside it, which is what the market actually sells. Both pure forms exist: one direct product is built end to end of 20년만기 / 30년만기 renewable blocks with ceilings written as
(100−보험기간)세[S7], and one is a pure 비갱신 무해지 contract [S12]. Between them sits the dominant design — a 비갱신 core with a few 갱신형 riders, of which 가족일상생활배상책임 is universally one, at a 3년만기 renewal [S2] and 갱신형 at two more [S3] [S5]. The composite takes the mixed form because it is the majority and because it is the only one on which a level premium over a hundred-year term and a waiver that fires once coexist with a renewal mechanic the model must nevertheless carry (Contractual mechanics).100세 만기. Observed maxima: 100세 at four carriers [S1] [S2] [S5] [S6] and 110세 at one [S4], the longest term found anywhere in this research; the full ladder at the archetypal product is 10세 / 20세 / 30세 / 80세 / 90세 / 100세만기 [S2]. 100세 is the modal maximum, the term on which every published premium and cash-value grid in this file is quoted [S11] [S2] [S1], and the term whose 2011 arrival made the product what it is R5; 110세 is a documented variant and adds no mechanic. There is no 만기환급금 on the protection part — the published grids show the 표준형 at 16.0% of premiums paid at 95 years and the 미지급형 at nil [S2] — and the residual at maturity is the 적립부분, not a guaranteed benefit.
20년납. Observed on the 100세만기 forms: 10 / 15 / 20 / 25 / 30년납 at both current carriers [S2] [S4] and 10 / 20 / 25 / 30년납 in the pre-2023 generation [S1]. 20 years is the payment term the comparison board quotes every premium on R12; it is the 해약공제계수 cap for a 보장성보험 in 감독규정 [별표 14], 「보험기간(최대 20년)」, and the basis on which the same schedule’s note 3 forces the 연납순보험료 to be recomputed REG-R20; it puts 납입완료 at a known date, which is what makes the 무해지 step-up a cliff [S2]; and it leaves eighty years of paid-up cover on the anchor cell — four times the payment period, and the reason a child policy’s IFRS 17 measurement is dominated by what happens long after the premium stops.
가입나이 태아 ~ 15세. The current envelope, from two 2026 상품요약서 [S2] [S4] and confirmed at two more [S5] [S6]. The full grid narrows the upper bound as the payment term lengthens — 30세만기 20년납 accepts to 9세 and 25년납 to 4세, the payment period not being allowed to outrun the term [S2] — and the composite carries the 100세만기 row, at which every payment term accepts to 15. The bound is a supervisory artefact and is datable: the pre-action generation of the same two lines accepted to 30 [S1] [S7], and the 2023 감독행정 restricted the product name above 15 rather than the age itself R1. 15 is also where two other rules change sign — the 면책기간 switches on (footnote 10) and 상법 제732조 stops voiding a death benefit (footnote 9) — so it is the most load-bearing age in the product.
The two age bases, and the third one a foetal contract adds. The contract ages on 보험나이: 「계약일 현재 피보험자의 실제 만 나이를 기준으로 6개월 미만의 끝수는 버리고 6개월 이상의 끝수는 1년으로 하여 계산하며, 이후 매년 계약해당일에 나이가 증가」, identical in both 표준약관 and reproduced verbatim by every carrier, with the worked example 생년월일 1988-10-02 / 계약일 2014-04-13 ⇒ 25년 6월 11일 ⇒ 26세 R8 [S7 제27조] [S8 제30조] [S12 제30조] REG-R25 제21조. Because of the six-month rule 보험나이 differs from 만나이 for roughly half of all issue dates.
Child_KR_Sprojects on 만나이, because every decrement it could use — the 생명표 REG-R38 REG-R39, the 국가암등록통계 age bands REG-R40 and the NHIS statistics REG-R41 — is published on 만나이, and no source supplies the distribution of issue dates within a policy year a conversion would need. On a 태아 contract the offset is not an average but a stated quantity: 보험나이 runs ahead of 만나이 by exactly the pre-birth period, which [S8 제61조] caps at six months, and which is five months for the life of the contract on the anchor cell (footnote 13).Three lives on one contract, and why the 계약자’s age is 33. The child is the 피보험자; the 부양자 block is written on the parent at issue ages 만15세 ~ (77−보험기간)세; the 임신·출산질환 block is written on the mother at 20세 ~ 47세 for most riders, 20~39세 for 출산전특정태아이상진단 and 20~40세 for the 융모막·양수검사 rider [S2]. The composite sets the 계약자 at 만 33, the mid-point of the 20~47 band the mother-side riders themselves state [S2] and the only sourced anchor for a parental age in this file; Korean statistics on mean age at first birth were not retrieved and are not relied on. The 계약자 is male so that the waiver decrement runs on the male table, which is the conservative direction; a female 계약자 is a model-point variant.
The male-rate convention on a 태아 contract. 「태아보험 가입시 태아의 성별을 구별하기가 어려운 점 때문에, 일단 남자 아이를 기준으로 납입보험료가 산정되고 출산 후 성별대로 정산하는 구조」 R3, and a carrier’s published 민원 case says the same [S8]. The composite adopts it and does not model the true-up, because the direction is no longer reliable: the current published tables show the female rate above the male at four carriers and below it at seven [S11], so a refund on the birth of a girl is a product-specific fact rather than a market rule (footnote 16).
No death benefit, and what is paid instead. 상법 제732조: 「15세미만자, 심신상실자 또는 심신박약자의 사망을 보험사고로 한 보험계약은 무효로 한다」 R7 REG-R50, restated by the 표준약관 at 제19조제2호 with 제19조제3호 refusing to extend the age-correction saving to it R8 REG-R25. The design consequences are visible everywhere: 일반상해사망 is fixed only 「기본계약 최초가입시 피보험자의 나이가 15세 이상인 경우」 [S1], one carrier writes it only at 만 15세 [S4], the board note reads 「15세이상 가입시 일반상해사망 특약 고정부가」 [S11], and the 생명보험 wording pays a 사망보험금 only 「만 15세 계약해당일 이후」 [S10 제21조]. The supervisor states the general rule — 「피보험자의 사망시 사망보험금이 아니라 기납입보험료가 지급됨」 R3 — but the composite pays the 계약자적립액 plus the 미경과보험료, because that is what 감독규정 제7-63조제1항제1호 requires of a 제3보험 contract on a death it does not cover REG-R17, what 표준약관 제22조 implements REG-R25, and what 상법 제736조 floors REG-R50. On a 무해지 contract inside the payment period that sum is close to nil — a real and uncomfortable feature of the form, stated rather than smoothed. 상법 제739조 disapplies 제732조 to 상해보험 R7, so the market’s uniform refusal to write accidental-death cover below 15 is more conservative than the statute requires; that reading is unverified, no judgment on it having been retrieved.
The waiting period, disapplied. Two independent primary statements, from two carriers and two document types. A 상품요약서 footnote to the 면책기간 matrix: 「주1) 최초계약과 부활계약의 면책기간은 보험나이 15세 이상인 경우에만 적용」 [S3]. A benefit definition on the comparison board: 「피보험자가 보장개시일(계약일로부터 90일이 지난날의 다음날, 계약일 현재 보험나이 15세 미만 피보험자의 경우 1회 보험료를 받은 때) 이후에 암(유사암제외)으로 진단확정시」 [S11]. The origin is 2006: 「암에 대한 위험률이 낮아 역선택 우려가 있다거나 이로 인한 위험률차손이 크다는 근거가 없기 때문에 암 보장에 대한 90일 부담보 기간이 삭제되었다」 R5. A 태아가입용 cover goes further and has 「면책기간 없음」 at all, including on the 10-day waits some infection and influenza riders carry [S3]. The composite implements all three limbs; the waiting periods that do survive are named at Contractual mechanics.
No 감액기간. The market has moved to 감액없음 and puts the word in the benefit names — 암진단비(유사암제외)(감액없음), 뇌혈관질환진단비**(감액없음)** — at five carriers [S1] [S3] [S11]. Where a 감액 survives it is a first-year 50%: one carrier publishes its 암진단비 as 「1천만원(1년이내 50%지급)」 and its 항암방사선·약물치료비 as 「100만원(1년미만 50%지급)」 [S6] [S11]; another applies 감액 only to dental benefits, at 25% or 50% 「최초계약일부터 2년 경과시점 전일 이전」, with cancer at 「-」 throughout [S3]. The composite takes 감액없음 and carries
reduction_monthswith observed values 0 and 12, so the 감액 machinery specified byCancer_KR_Sremains reachable. A foetal contract may not be subject to 감액 at all: the 2015 변경권고 inserted 「단, 피보험자가 보험가입 당시 태아(胎兒)인 경우에는 보험금의 100%를 지급합니다」 across 17 carriers and 56 products, on the reasoning that 「태아는 보험가입시 역선택 가능성이 거의 없는데도」 R2; a current carrier confirms it still holds [S8].표준형 as the base, 무해지 as the switch — the opposite of
Cancer_KR_S. Every carrier on the board offers a 해약환급금 미지급형 beside the 표준형 [S11], and the 무·저해지 share of 보장성 초회보험료 ran 11.4% (2018) → 30.4% (2021) → 47.0% (2023) → 63.8% (2024 H1) R11 REG-R27, so the suppressed form is where the market is andCancer_KR_Sships it as its base.Child_KR_Sdeliberately ships the 표준형. The 적립부분 credited at the 공시이율, with its own floor and reset machinery, exists only there — the suppressed forms are 순수보장성 and show 「-」 for it on the board [S11] [S2]; the 표준형’s surrender value exceeds premiums paid from about year 30 on the published grid [S2], a shape no otherkrlibprotection product produces and only a hundred-year term can; and shipping the two forms on two products lets a reader compare them inside one library without either model carrying both. The switch is specified at Termination and values and its premium ratio at footnote (17).The anchor cell, and why it is the foetal one.
Cancer_KR_Sanchors on the 기준연령 요건 of 감독규정 제1-2조제2호 — 남자 만 40세, 전기납, 월납 REG-R9 — the cell at which the 표준해약공제액 and 보험가입금액 computations are performed. No child policy can be written at that cell, so 제1-2조제2호’s own fallback applies: the 기준연령 요건 is taken at the mid-point issue age and the longest available payment term REG-R9. That fallback governs the regulatory computations and is not the modelling anchor. The modelling anchor is the 태아 contract at 계약나이 0, because 태아가입 and the 계약자 waiver are the two mechanics this product exists to demonstrate and a worked example exercising neither would be a worked example ofCancer_KR_S. Birth at policy month 5 is std: the neonatal riders close at 임신 22주 [S5], so a contract written inside that window still has at least 4.1 months of gestation to run, and [S8 제61조] caps the pre-birth period at six months; five is between those two bounds and is a whole number of grid steps. The premium is a model-point input (footnote 16). A calibration cell is shipped alongside: male, 보험나이 5, 표준형, no 태아 module, no 계약자 waiver, at ₩27,000 a month, the cell every published premium in this file is quoted on R12 [S11].
Benefit provisions#
All amounts are stated at the anchor cell. The rider set is the 손해보험협회 comparison basis R12, which is the only standardised specification of a Korean child policy the market itself publishes, plus a 유사암 tier and a 태아 module that basis does not carry.
Parameter |
Representative value |
Basis |
|---|---|---|
기본계약 — 일반상해후유장해 |
보험가입금액 × 장해지급률 on a 3~100% scale, 보험가입금액 ₩100,000,000 (1억원), 상해 1급. Payable more than once, the percentages accumulating |
|
Definition of 장해 |
표준약관 부표 3 (장해분류표): 「상해 또는 질병에 대하여 치유된 후 신체에 남아 있는 영구적인 정신 또는 육체의 훼손상태 및 기능상실 상태」, excluding temporary states during treatment |
|
질병후유장해 |
보험가입금액 × 장해지급률, 3~100%, 보험가입금액 ₩10,000,000 (1천만원) |
R12; [S11] |
후유장해 variants offered |
20~100%, 3~79%, 50% 이상, 80% 이상; and 50%/80% 이상 생활지원금 forms paying an annuity over 20 years |
[S11]; scope std (22) |
암진단비 (유사암 제외) |
₩10,000,000 (1천만원), 최초 1회한 |
|
유사암진단비 |
₩2,000,000 (200만원) — 20% of the general tier — with each member payable once: 기타피부암, 갑상선암, 대장점막내암, 제자리암, 경계성종양 |
[S1] [S3] [S11]; std (24) |
뇌출혈진단비 |
₩10,000,000 (1천만원), 최초 1회한 |
|
급성심근경색증진단비 |
₩10,000,000 (1천만원), 최초 1회한 |
|
수술비 |
₩5,000,000 (500만원) per named-disease surgery — 암수술, 뇌출혈수술, 급성심근경색증수술 — per qualifying operation |
|
입원일당 |
₩40,000 (4만원) per day, 상해 and 질병 limbs, 1–180일 per stay |
|
골절진단비 |
₩400,000 (40만원) per fracture, 치아파절 excluded |
[S1] [S11]; std (25) |
화상진단비 |
₩200,000 (20만원) per burn |
[S1] [S11]; std (25) |
가족일상생활배상책임 |
₩100,000,000 (1억원) per occurrence, applied separately to 대인배상, 대물(누수사고)배상 and 대물(누수사고 제외)배상; deductibles ₩500,000 on a 누수 대물 claim and ₩200,000 on any other 대물 claim; the 보험가입금액 is fixed and not selectable; 3년만기 갱신형 |
[S5]; [S2]; [S3]; std (26) |
배상책임 — insured persons |
피보험자 및 배우자, 자녀, 동거중 친족 (8촌 이내의 혈족(모계 8촌 포함), 4촌 이내의 인척 및 배우자) |
[S5] |
배상책임 — 보장개시일 |
The 누수사고 limb starts 90 days after the 계약일, resetting to the renewal date on each renewal; the rest starts at inception |
[S5]; [S3] |
태아 module |
See the table below; on to |
|
보험료 납입면제대상 |
Published as a benefit in its own right, 보험가입금액 ₩100,000 (10만원), whose 지급사유 is the occurrence of a waiver event |
[S11]; [S2] |
면책기간 (waiting period) |
None while the insured is 보험나이 15 미만; the 91st day counting the 계약일 as day 1 from 보험나이 15; none at all on a 태아가입 cover |
|
Waiting periods that do apply |
90 days on the 누수사고 limb of the liability rider [S5]; 90 days on cancer-treatment hospital-cash and outpatient riders [S5]; 10 days on certain infection and influenza riders, disapplied on a 태아가입용 form [S3]; every one of them re-runs from a 부활일 [S3] |
[S3] [S5] |
감액기간 |
None. |
|
Repeat payment |
The diagnosis benefits are 최초 1회한 each; the 후유장해, 입원, 수술, 골절, 화상 and 배상책임 limbs are payable repeatedly |
[S1] [S2] [S11] |
Termination on payment |
None. No benefit payment terminates or exhausts the contract; cover runs to the 100세 계약해당일 |
[S1] [S2] [S11] |
Death of the insured |
No death benefit below 만 15세 (상법 제732조). The 계약자적립액 at the date of death plus the 미경과보험료 is paid and the contract ends: 「피보험자가 사망한 경우, 이 계약은 그 때부터 효력이 없습니다」 |
R7; REG-R50; REG-R17; REG-R25 제22조; REG-R19 제7-66조제5항; [S7 제28조]; [S10] |
Death of the insured, 만 15세 이상 |
An 일반상해사망 rider becomes writable; not carried in the base run and not offered by any retrieved product on a contract issued below 15 |
[S1] [S4] [S11]; std (9) |
Exclusions (보험금을 지급하지 않는 사유) |
The general exclusion articles were not read in full for this product line |
unverified; std (28) |
Suicide |
The composite has no death benefit, so the 2-year 자살면책 clause has nothing to attach to |
[S8]; std (28) |
The 태아 module. These covers exist only on a 태아가입 contract, are written on two different terms, and are the only part of the product that can pay in respect of an event before the insured legally exists.
Cover |
Representative amount |
Term |
Basis |
|---|---|---|---|
저체중아 육아비용 (인큐베이터 일당) |
₩50,000 per day, actual days used less 2 days, 60 days maximum |
1년만기 from birth |
|
주산기질환 입원일당 |
₩10,000 per day, on a continuous stay of 4 days or more, paid from the 4th day (3일 초과 1일당), 120 days per stay |
1년만기 from birth |
[S8]; [S1]; R3 |
선천이상 진단비 |
₩1,000,000, 최초 1회한, on diagnosis of a 선천성 기형, 변형 또는 염색체 이상 after birth |
1년만기 from birth |
[S1] |
선천이상 수술비 |
₩1,000,000 per qualifying operation |
1년만기 from birth |
[S1]; R3 |
신생아 뇌출혈 진단비 |
₩2,000,000 = 20% of the module’s 가입금액, 최초 1회한 |
1년만기 from birth |
[S1]; std (27) |
출생위험 (저체중·장해 출생) |
저체중아 출생 10%, 장해 출생 20%, 심한 장애 출생 100% of the module’s 가입금액 |
태아보장기간 |
[S1] |
조산 진단 |
보험가입금액 on birth within 27 weeks (one carrier’s equivalent tests 31 weeks) |
태아보장기간 |
[S1]; [S2] |
태아보장기간 |
계약일 ~ 출생일, including an event arising in labour or delivery; premium 전기납 |
— |
[S2] |
Neonatal block term |
1년만기 전기납 from birth, matching 「출생 전후에 발생하는 질환에 대한 보장을 강화하려는 목적으로 출생 후 1년까지만 보장」 |
— |
[S2]; [S5]; R5 |
Enrolment window |
The neonatal riders accept a foetus 임신 22주 이내; one dental rider 임신 15주 이내 |
— |
[S5]; std (27) |
Waiting period, 감액 |
None on either |
— |
[S3]; R2 |
유산 / 사산 |
The contract is 무효 and every premium paid is returned |
— |
[S8 제56조]; [S9] |
The basic contract is a percentage scale, not a lump sum, and that is the first structural delta. Every retrieved non-life 기본계약 is 일반상해후유장해 paying 보험가입금액 × 장해지급률 [S1] [S2] [S4] [S5] [S11], on the 표준약관’s 장해분류표, a percentage scale across thirteen body systems and explicitly a scale of permanent impairment REG-R25.
Cancer_KR_S’s benefit fires once at a stated amount; this one fires at a stated fraction of a stated amount, may fire more than once, and accumulates. The ₩100,000,000 level is not std: it is the level printed on the comparison basis R12 and the level every published premium is quoted at [S11]. The variant bands — 20~100%, 3~79%, 50% 이상, 80% 이상 — and the two 생활지원금 forms converting a 50% or 80% disability into a twenty-year annuity [S11] are left out of the base run: an annuity on a disabled child is a materially different liability and belongs in a model point of its own.The diagnosis set, and a deliberate narrowing. Two definitions are in the market for each adult-disease limb: the narrow 뇌출혈 and 급성심근경색증 the comparison basis prices R12, and the broad 뇌혈관질환 and 허혈성심장질환 most current products sell, at ₩10,000,000–₩50,000,000 [S11] [S2]. The composite takes the narrow pair, against the grain of current practice, for one reason: every published premium in this file is quoted on R12’s specification [S11], so pricing the broad definitions against a premium collected for the narrow ones would make the anchor cell internally inconsistent. The broad pair is a switch. Read it alongside the supervisor’s second complaint of 2023 — 「어린이에게 발생빈도가 극히 희박한 뇌졸중, 급성심근경색 등 성인질환 담보를 불필요하게 부가」 R1 — a supervisory statement that these two limbs are priced on an exposure that barely exists for the first three decades of the term, which a paediatric incidence basis must reproduce rather than smooth away. Named-cancer riders stacking on the general tier — 다발성소아암, 16대특정암, 5대고액치료비암, 전이암, 재진단암 [S1] [S3] [S11] — are out of the base; 다발성소아암 is named because it is the one cancer rider whose exposure is genuinely paediatric.
The 유사암 tier, inherited unchanged in structure and changed in level.
Cancer_KR_Ssets the tier at 20% of the general amount on the same five members REG-R40; the child products publish 유사암 amounts of ₩2,000,000–₩20,000,000 against general-tier amounts of ₩10,000,000–₩100,000,000 [S11], and the composite takes 20% of its own ₩10,000,000 so that the chassis ratio is preserved. The clinical reason is the same at both ages — 갑상선암 is the single most common cancer in Korea and its five-year relative survival is 100.2% REG-R40 — but the exposure is not: thyroid cancer is concentrated in adults, so on a child policy the 유사암 tier costs almost nothing for thirty years and then becomes the most frequently paid diagnosis benefit in the contract. That is a shape a level premium has to fund, and it is the clearest single illustration of what a 100세만기 child policy actually is.The event benefits are small and frequent, which is the opposite of the chassis. 입원일당 at ₩40,000 a day R12 on a 1–180일 basis [S2], 골절진단비 at ₩400,000 and 화상진단비 at ₩200,000 [S1] [S11] are the covers a child policy actually pays on, an order of magnitude below the diagnosis benefits. The observed 입원일당 menu is wide — 1–180일, 1–120일, 1–30일, 1–10일 and 4일이상 bases, with 종합병원 / 상급종합병원 / 중환자실 / 1인실 variants and 암직접치료 and 요양병원 sub-limits [S1] [S2] — and the composite takes the comparison basis’s single form. It does not implement a 180-day one-hospitalization memory: no retrieved Korean child wording states a re-admission grouping rule, and inventing one would be an unsourced benefit mechanic. Published 골절 and 화상 amounts run ₩100,000–₩400,000 [S1] [S11]; the composite takes the top of that range for fracture, the modal childhood accident claim, and the middle for burn.
가족일상생활배상책임 is the cover only a non-life licence may write, and it is fixed. The wording is reproduced in full at one carrier: cover where the insured, spouse, children or a cohabiting relative within the eighth degree of consanguinity or fourth of affinity incurs legal liability for injury to another or damage to another’s property, 「1사고당 대인배상, 대물(누수사고)배상, 대물(누수사고제외)배상 각각 1억원 한도」, with deductibles of ₩500,000 on a 누수 property claim and ₩200,000 on any other, arising from ownership, use or management of the dwelling or from daily life excluding non-residential property, and the 보험가입금액 not selectable [S5]. It is a 3년만기 갱신형 at one carrier, renewing on 1–3년 blocks at 가입나이 태아~15세 [S2], and 갱신형 at two more [S3] [S5]; two forms, 누수 포함 and 제외, are offered and only one may be taken [S2]. The composite takes the 포함 form at ₩100,000,000, the specification the comparison basis prices R12. It is the only limb whose claim is a third party’s loss rather than a state of the insured, and it is why R5 gives the licence split the explanation it does.
The 태아 module, and what is actually sourced in it. The structure is sourced tightly: the 태아보장기간 as a term in its own right — 「계약체결일부터 출생시점(출산 또는 분만 과정에서 보험금 지급사유가 발생하는 경우 포함)까지의 기간을 보험기간으로 하여」 [S2] — the parallel 1년만기 전기납 term for the 태아전용 block [S2], the 22-week enrolment bound on that block [S5], and the seven 태아전용 covers by name [S2]. The benefit definitions are sourced from one 2019 상품요약서 and the supervisor’s 2008 rider table: 「최고 60일을 한도로 실제 사용일수에서 2일을 공제하고 인큐베이터 사용 1일당 보험가입금액 지급」 [S1], the older form of the same at 「인큐베이터를 3일 이상 사용했을 경우 1일당 약정금액」 R3, and 「’주산기질환’은 … 출생전후기에 기원한 특정 병태 대상 분류표에서 정한 질병」 paid on a stay of at least four consecutive days, 3일 초과 1일당, 1회 입원당 120일 한도 [S8]. The amounts are std, taken from the supervisor’s own worked claim R3: a birth at 32 weeks and 1.84 kg with congenital atresia and stenosis of the small intestine, an enterostomy, an incubator and a stay from 2007-12-07 to 2008-05-01 paid ₩16,836,420 in all — 신생아육아비용 ₩3,000,000 at 2일 초과 1일당 5만원 to a 60-day cap, 신생아입원급여금 ₩1,200,000 at 3일 초과 1일당 1만원 to 120 days, 선천이상수술위로금 ₩1,000,000, 질병입원급여금 ₩4,410,000 and 질병입원의료비 ₩7,226,420. Two things read off it: the neonatal block is capped by days, not by amount, so its severity is a length-of-stay distribution; and the indemnity element was 43% of the total, which is exactly the element no longer attachable (footnote 31).
Exclusions are the honest gap in this document. The general 보험금을 지급하지 않는 사유 articles were not read in full for this product line and no retrieved document reproduces them, so no exclusion decrement is modelled and none is asserted. The statutory floor is 상법 제659조 and 제660조, and 제663조 makes the whole Part one-way mandatory REG-R49. Two exclusions that are sourced sit outside the general article and are stated where they arise: the P코드 carve-out from the premium waiver [S2], and the exclusion of 혀유착증 and 선천성모반 from some 선천이상수술비 variants — the two high-frequency, low-severity conditions in that class [S1]. The 2-year 자살면책 [S8] has nothing to attach to.
Options#
Every item is specified so that a model point can switch it on; the Base column says what the shipped anchor cell does.
Option |
Representative specification |
Base |
Basis |
|---|---|---|---|
태아가입 module |
계약나이 0 at the 계약일, priced male; cover attaching at birth; the two terms and seven covers of the table above; the 무효-on-유산/사산 rule; the 계약일 reset where birth falls more than six months after issue |
on |
|
계약자 납입면제 module |
Waiver of all future premium on the 계약자’s death or 50% 이상 장해; 계약자 male 만 33 at the 계약일 |
on |
[S10 제22조]; std (14) |
Child 납입면제 |
Waiver on the child’s 50% 이상 후유장해, 7대질병 진단 or 중대한특정상해수술, with the P코드 carve-out |
on |
[S2] |
해약환급금 미지급형 |
0% during the 납입기간; 50% of the 표준형 value after 납입완료; premium at 78% of the 표준형 |
off |
[S2] [S11]; REG-R19 제7-66조제4항; std (17) (29) |
해약환급금 미지급형Ⅲ (graded) |
A ten-step ladder from 5% of the 표준형 value in the two years after 납입완료 to 50% eighteen years after it, in 5-point steps every two years |
off |
[S1]; std (29) |
갱신형 chassis |
The whole product written of 20년만기 / 30년만기 renewable blocks, 최초 가입나이 0~30세, renewal ages |
off |
[S7 제29조]; std (2) |
보험기간 연장형 (3종) |
A third 종 whose 적립부분 is consumed to extend the cover term; its 환급률 is 76.0% at 20년 and then falls on the 최저보증이율 to 61.8% at 25년, against 76.5% on the 공시이율 |
off |
[S2] |
110세만기 |
The longest term found; same 가입나이 태아, 0~15세 and the same 납입기간 ladder |
off |
[S4] |
뇌혈관질환 / 허혈성심장질환 (broad definitions) |
The two adult-disease diagnosis limbs written on the broad KCD ranges rather than 뇌출혈 and 급성심근경색증, at ₩10,000,000–₩50,000,000 |
off |
[S11] [S2]; std (23) |
다발성소아암 진단비 |
A named-cancer rider stacking on the general tier, whose exposure is genuinely paediatric; renewal ceiling 30세 where the rest of the contract renews to 100 |
off |
[S1] [S7] [S11] |
재진단암 진단비 |
A repeating diagnosis benefit on a 1년 or 2년 대기형 cycle |
off |
[S1] [S3] [S11] |
임신·출산질환 module (the mother) |
모성사망, 임신·출산질환 입원일당 (1-120일), 임신·출산 관련 고혈압·당뇨병 입원일당, 임신·출산질환수술, 분만전후출혈·수혈진단, 고위험임산부 집중치료실 입원, 유산 진단·수술·입원일당, 임신중독증, 태반조기분리, 양수색전증, 여성산과 자궁적출수술, and the indemnity-shaped 임신·출산질환실손입원의료비(통상분만일수 제외); mother’s 가입나이 20~47세, term 계약일 ~ 분만 후 42일 (or 계약일 ~ 분만일) |
off |
[S2]; [S5] |
출산전 특정태아이상진단 |
A benefit paid on antenatal diagnosis of a foetal abnormality, written on the mother, 가입나이 20~39세, term 계약일 ~ 분만일. The only cover in the product that pays before birth, and it pays the mother |
off |
[S2]; std (27) |
부양자 module (the parent, as a benefit) |
상해사망(부양자), 상해후유장해(80% 이상)(부양자), 질병사망(부양자), 질병후유장해(80% 이상)(부양자), 보험료납입지원(6대질병진단)(부양자), and the 교육자금 / 자녀양육비 forms paying 「자녀나이에 따라」 or as a five-year annuity; parent’s 가입나이 만15세 ~ (77−보험기간)세. One of the two death forms is compulsory on a 태아 contract |
off — replaced by the 계약자 waiver |
[S2] [S5] [S11]; std (14) |
2026 저출산 premium discount |
1%–5% for one year on birth, 육아휴직 or 육아기 근로시간 단축; one use per contract; pre-existing contracts qualify |
off |
|
다태아 (multiple birth) |
Every foetus of a multiple pregnancy is insurable from 2012-10-01; carriers price a 다태아플랜 at roughly 2× for twins and 3× for triplets, which R5 notes probably understates the risk |
out of scope |
|
Adolescent and child-specific riders |
ADHD진단비 (payable from the 6세 계약해당일), 진성성조숙증진단비 (가입나이 태아~4세), 중증틱장애진단비 (태아~2세), 중증아토피진단비 (OSI 40점 이상, 태아 only), 시력치료비, 부정교합치료비, 유치보존치료비, 소아탈장수술비, 어린이심장시술비, 모야모야병개두수술, 수족구·중이염·폐렴·독감 진단비, 학교폭력피해치료비, 청소년폭력상해후유장해, 유괴납치피해일당 |
out of scope |
[S1] [S2] [S5] [S11] |
실손의료비 riders |
Not available. From April 2018 실손의료보험 must be sold as a standalone product |
out of scope |
Termination and values#
Parameter |
Representative value |
Basis |
|---|---|---|
Surrender-value form, base |
표준형 — 해약환급금 = 순보험료식 계약자적립액 less the 해약공제액, floored at zero |
[S2]; [S1]; REG-R19 제7-66조제1항제1호; std (12) |
Surrender-value form, switch |
해약환급금 미지급형: 0% during the 납입기간, 50% of the 표준형 value afterwards |
[S2] [S11]; std (29) |
Legal basis of the suppressed form |
감독규정 제7-66조제4항 — a 순수보장성보험 priced with a 최적해지율 may pay less than the [별표 14]-floored value. A regulatory dispensation conditional on having used a best-estimate lapse rate in pricing, not a contractual device |
|
환급률 constraint on the suppressed form |
Both the post-payment value must exceed 50% of the 표준형’s and the post-payment 환급률 must exceed the greater of 100% and the 표준형’s 환급률 |
|
The comparison 표준형 |
A synthetic product: 「3형과 동일한 보장내용으로 해지율을 적용하지 않은 상품이며, 비교안내를 위한 종목으로 실제로 판매하지 않음」 |
[S3]; [S1]; std (29) |
해약공제액 |
The 표준해약공제액 of 감독규정 [별표 14] |
|
해약공제기간 |
The 보험료 납입기간 or the 신계약비 부가기간, capped at 7 years |
|
계약자적립액 accrual |
Monthly before 납입완료, daily afterwards; credited at the 공시이율, floored at the 최저보증이율 |
REG-R19 제7-66조제1항제4호; [S2] [S11] |
Unearned premium |
On any termination the 미경과보험료 is added to whatever surrender value is paid |
|
만기환급금 |
None on the protection part. The 표준형 pays whatever 계약자적립액 remains; on the published grid that is 16.0% of premiums paid at 95 years and effectively nil at 만기, and the 미지급형 pays 0.0% |
[S2]; [S1]; std (3) |
보험계약대출 (policy loan) |
Available against the 표준형’s surrender value; not available during the 납입기간 on the 미지급형, because there is none to lend against |
|
Automatic premium loan |
Not offered on the 미지급형; a missed premium lapses the contract at the end of 납입최고 |
|
납입최고 (grace) |
At least 14 days from the demand (7 where the term is under a year), the contract terminating the day after it expires. One carrier operates it as 「납입기일 다음날부터 납입기일이 속하는 달의 다음달 마지막 날까지」, so a premium due on 15 September is in grace to 31 October and the contract lapses on 1 November |
REG-R25 제26조; [S8]; std (32) |
Lapse (해지) |
From the day after the 납입최고기간 expires |
REG-R25 제26조; [S8] |
Reinstatement (부활) |
Within 3 years of termination where the surrender value has not been drawn — including where there is none, which is the 무해지 case — on payment of arrears with interest at a rate within 평균공시이율 + 1%, subject to fresh underwriting. Every waiting period re-runs from the 부활일 |
REG-R25 제27조; [S8]; [S3]; std (33) |
First-premium failure |
Liability never attaches; 상법 제656조 starts cover on receipt of the first premium absent other agreement |
|
Pre-birth termination |
유산 or 사산 makes the contract 무효, not lapsed, and every premium paid is returned |
[S8 제56조]; [S9]; std (27) |
Non-disclosure (계약 전 알릴 의무) |
Termination within 1 month of the insurer learning of the breach and 3 years of formation (상법 제651조), narrowed by the 약관 to 2 years from the 보장개시일 with no claim event — one year for disease in a 진단계약 — with a causation defence |
|
Fraud (사기에 의한 계약) |
Voidable within 5 years of the 보장개시일 and one month of discovery |
|
청약철회 (cooling-off) |
15 days from receipt of the 보험증권 or 30 days from the application, whichever comes first; effective on despatch; premiums returned within 3 business days |
REG-R51; REG-R25 제17조; [S8]; out of scope for the model |
품질보증해지 |
Cancellation within 3 months of formation where the 약관 was not delivered, its important content not explained, or the application not signed |
REG-R49 제638조의3; REG-R25 제18조제3항; [S8] |
지정대리청구서비스특약 |
Standard; the 대리청구인 is the insured’s spouse on the family register or a relative within the third degree, an unnamed designation defaulting to a direct ascendant or descendant. Must be offered wherever 계약자 = 피보험자 = 보험수익자 |
[S8]; [S5] |
Benefit claim prescription (소멸시효) |
3 years |
|
Policyholder protection |
예금자보호법 cover of ₩100,000,000 per person per insurer, in a bucket that expressly excludes benefits payable because the term has ended |
|
Expiry |
At the 100세 계약해당일 — |
[S2]; std (3) |
The 무해지 cliff, published. One current 상품요약서 publishes both forms on one specification — 남자 5세, 상해 1급, 100세만기 20년납, 기본계약 상해후유장해 ₩150,000,000, 의무부가 보험료납입면제대상 ₩100,000, and selected covers at 상해입원일당 ₩20,000, 질병입원일당Ⅱ ₩20,000, 암진단Ⅱ(유사암 제외) ₩20,000,000, 유사암진단Ⅱ ₩1,000,000, 뇌혈관질환 ₩10,000,000, 허혈심장질환진단 ₩10,000,000 — at 월납 ₩50,000 표준형 and ₩37,420 미지급형 [S2]:
경과
표준형 납입보험료
표준형 환급금 (환급률)
미지급형 납입보험료
미지급형 환급금 (환급률)
1년
600,000
0 (0.0%)
449,040
0 (0.0%)
3년
1,800,000
820,910 (45.6%)
1,347,120
60 (0.0%)
5년
3,000,000
1,876,960 (62.5%)
2,245,200
280 (0.0%)
10년
6,000,000
4,422,580 (73.7%)
4,490,400
550 (0.0%)
15년
9,000,000
7,050,220 (78.3%)
6,735,600
420 (0.0%)
20년
12,000,000
9,923,370 (82.6%)
8,980,800
0 (0.0%)
30년
12,000,000
12,149,980 (101.2%)
8,980,800
5,752,590 (64.0%)
40년
12,000,000
14,709,200 (122.5%)
8,980,800
6,973,000 (77.6%)
50년
12,000,000
17,298,680 (144.1%)
8,980,800
8,197,680 (91.2%)
60년
12,000,000
19,072,270 (158.9%)
8,980,800
9,001,530 (100.2%)
95년
12,000,000
1,928,830 (16.0%)
8,980,800
0 (0.0%)
Interest basis for the table: 공시이율 1.7% (2026-07), 평균공시이율 2.5% capped at the selling-date 공시이율, 최저보증이율 0.3%, and for the 미지급형 a flat 보장부분 적용이율 of 2.7% 「적립한 금액으로 변동 없음」 because that form is 순수보장성 with no 적립보험료 [S2]. Three features a model must reproduce. The suppressed form’s value is nil through the entire payment period and jumps to 64.0% of premiums paid ten years after completion — a cliff, not a curve — and the 「60원」 and 「550원」 entries between are rounding on a nominally zero quantity. The 표준형’s value exceeds premiums paid from about year 30, because the 적립부분 compounds at the 공시이율 while the 보장부분 reserve is still building; no other
krlibprotection product produces that shape and only a hundred-year term can. And both forms collapse at maturity. The 2019 generation of the other line shows the same shape at a higher level — 표준형 환급률 3.0% (1년), 51.1%, 66.3%, 76.6% (10년), 86.8% (20년), 125.8% (40년), 155.7% (60년), 0.0% at 만기; 미지급형 0.0% throughout the payment period, 111.7% (20년), 161.8% (40년), 200.3% (60년), 0.0% at 만기 [S1] — and that the 미지급형’s 환급률 exceeds the 표준형’s after completion is arithmetic, not generosity: the denominator is a smaller premium. The graded 미지급형Ⅲ ladder is published in full, where M is the payment term in years: 5% from the day after the end of year M to the day before the M+2 계약해당일, then 10, 15, 20, 25, 30, 35, 40, 45 and finally 50% from M+18 to the end of the term [S1].The 표준해약공제액, computed for this product. 감독규정 [별표 14] gives the cap as 「연납순보험료의 5% × 해약공제계수 + 보장성보험의 보험가입금액의 10/1000」 REG-R20. For a 보장성보험 the 해약공제계수 is the policy term capped at 20 and the 연납순보험료 is recomputed on a 전기납 basis, or on 20년납 where the term is 20 years or more — both of which bind here. The 보험가입금액 term is the harder half: this contract has no 일반사망보험금, so [별표 15] 제3호 does not apply and 제9호 does — 「보험가입금액 = (위험보험료 / 정기보험의 위험보험료) × 정기보험의 보험가입금액」, computed at the 기준연령 요건 on a term policy of the same 보험기간 REG-R21. A 제3보험 contract with no death benefit therefore gets a notional 보험가입금액 by scaling a term policy’s face amount by the ratio of risk premiums, and that notional amount — not the ₩100,000,000 of accidental disability cover — is what enters the 10/1000 term, at the schedule’s own rate of 10/1000, which is one per cent.
technical-notes.mdperforms the arithmetic and finds that on this product the [별표 14] limb does not bind: it gives 56.25 months of core premium against the FSC’s statement of the same ceiling as thirteen months’ premium for a 보장성보험 REG-R29 (item 21 above), so the cap is the lesser of the two, the thirteen-month reading, on every shipped model point. What belongs here is that the surrender charge is capped by a computation whose inputs are themselves std, deducted as a level amount over a 해약공제기간 capped at 7 years REG-R19.The 실손 rider is gone, and that is a regulatory fact rather than a design choice. 보험연구원’s 2018 description of the structure still reads 「主보험 + 태아가입특약 + 유자녀생활자금특약 + 산모보장특약 + 각종 선택특약 + 실손특약」, and the 2004 specification of the market’s best-selling child policy includes 「일상상해 실손의료비 / 질병입원 실손의료비」 R5. From April 2018 that is impossible: 실손의료보험 must be a standalone product consisting only of indemnity-medical cover, under 보험업감독규정 제7-63조제2항제1호 as amended 2017-03-22 with a one-year transition R9 R10 REG-R17. No child-side 실손 rider appears in any of the five current 상품요약서 [S2] [S3] [S4] [S5] [S6]; what survives is one indemnity-shaped rider written on the mother, 임신·출산질환실손입원의료비(통상분만일수 제외), which is not a 실손의료보험 [S2]. The general proportional-contribution clause survives in the older wording [S1] as a reminder that the 2019 generation still carried indemnity elements. The consequence is structural: a Korean family buys the indemnity layer as
Medical_KR_Sand the fixed-benefit layer asChild_KR_S, as two contracts, and the split is statutory.Grace. The 표준약관 floor is 「14일(보험기간이 1년 미만인 계약은 7일) 이상」 REG-R25 제26조; one carrier operates a calendar-month form running 「납입기일 다음날부터 납입기일이 속하는 달의 다음달 마지막 날까지」, which is longer than the floor and is the observed practice [S8]. The composite takes the calendar-month form because it lands on the monthly grid, and notes that the two differ by up to a fortnight on the lapse date.
Reinstatement, and why the model does not carry it. 부활 is available within 3 years, even where there is no surrender value — the 무해지 case — and may not be refused merely because a claim event occurred before termination REG-R25 제27조 [S8]. Every waiting period re-runs from the 부활일 [S3], which below 보험나이 15 means almost nothing and above it a full 90 days.
Child_KR_Streats lapse as absorbing and does not model reinstatement; the simplification is conservative on a protection product and is recorded intechnical-notes.md.
Contractual mechanics#
Throughout, t is the number of complete months since the 계약일, b is the month of birth
(b = 5 at the anchor cell), n = 240 is the end of the 납입기간 and T = 1200 is the 100세
계약해당일. S is the 보험가입금액 of the cover under discussion.
태아가입 — the contract written before the insured exists#
This is the part of the product with no analogue anywhere in this repository, and the wording is quoted rather than paraphrased. The articles are one carrier’s 태아가입특칙, 제53조 to 제61조 [S8]; a second carrier’s older wording carries the same 특칙 at 제44조 to 제51조 with 호적 references instead of 가족관계등록부, which is the evidence that the 특칙 is a market-standard text and not one drafter’s invention [S9].
제53조 (특칙의 적용) — 「이 특칙은 피보험자로 될 자가 계약체결시 태아(胎兒)인 계약에 한하여 적용합니다.」
제54조 (피보험자) — 「제53조의 태아는 출생시에 피보험자가 됩니다.」
제55조 (출생통지) — the policyholder must notify the birth immediately, with a 통지서, the child’s 가족관계등록부 or 주민등록등본 and the 보험증권; the fact is endorsed on the policy.
제56조 (유산 또는 사산시의 처리) — 「태아가 유산 또는 사산에 의해 출생하지 못한 경우에는 계약을 무효로 합니다 … 이미 납입한 보험료를 돌려드립니다.」
제57조 (복수출생의 경우) — on a multiple birth each child may be nominated as an insured; where only one contract was written, one child is nominated and the others may be made the insured of new contracts. If the nominated child dies within a year of birth and a twin survives, the survivor may be substituted within a month with retroactive effect, unless a benefit or reserve has been paid or claimed or the policyholder killed the child.
제58조 (보험금 지급기준 적용나이) — 「보험금 지급기준표에서 적용하는 피보험자 나이는 피보험자가 출생한 날부터 계산합니다.」
제59조 (출생전 보험금 지급사유 발생) — an event before birth is paid, but from the date of birth.
제60조 (계약나이의 계산 특례) — 「계약일에 있어서의 피보험자의 계약나이는 0세로 합니다.」
제61조 (계약일 및 계약나이의 변경) — where the child is born more than six months after the 계약일, the 계약일 is moved back to six months before the birth, the 계약나이 is re-set, and premiums and reserves are adjusted under the 산출방법서.
Six modelling consequences, each carried explicitly.
Cover attaches at birth. 「태아보험의 피보험자는 태아 그 자체가 아니라 출생 후 신생아이므로 … 태아보험의 보장은 … 보험가입 시점이 아니라 태아의 출생 직후부터 시작됨」 R3, and in 2016 sixteen carriers and nineteen products were ordered to stop using 「태아 때부터 보장」, 「엄마 뱃속에서부터 보장」 and even the bare word 「태아보험」 in marketing material, under 보험업감독규정 제4-35조제3항 R2. In the model every benefit on the child’s own life is zero for
t < b; the only covers in force before birth are the 태아보장기간 limbs, which pay from the date of birth even where the event preceded it [S8 제59조], and the mother-side 출산전특정태아이상진단 if that option is on [S2].Foetal death is a void, not a decrement. 「태아는 법적으로 인격을 갖지 못하여 인보험의 보호대상이 될 수 없으므로 … 태아보험에서는 태아의 사망을 직접적으로 보장하지는 아니함」 R3; what exists instead is mother-side 유산 cover. So the pre-birth period carries a void decrement: the contract is 무효, every premium is returned, and the projection de-recognises the policy rather than terminating it — a negative cash flow of premiums already collected, belonging in a validity adjustment and not in the lapse column. No Korean source retrieved gives a foetal-loss rate, so the rate is a
[std]construction whose provenancetechnical-notes.mdstates; what the sources fix is the mechanic.The pre-birth period is bounded, and the bound is actuarial. [S8 제61조] caps it at six months by moving the 계약일 back, with premiums and reserves adjusted under the 산출방법서; the neonatal riders close at 임신 22주 [S5], so a contract written inside that window still has at least 4.1 months of gestation to run; and the 태아 sub-term is written 「1~10월만기」 [S1]. The composite takes
b = 5, which is inside both bounds.The non-life chassis re-rates instead of resetting the 계약일: 「태아보장기간에 태아위험보장을 위한 보장보험료를 적용하며, 출생일 이후의 보장보험료는 보험나이 0세 기준으로 변경하여 적용함. 다만, 출생통지가 이루어지지 않은 경우에는 계약전환일 (출생예정일이 포함된 다음 달의 계약해당일)에 보험료를 변경하여 적용」 [S1]. The composite implements the re-rating form but holds the core 보장보험료 level across
t = b, because the two rates are not separately published. The 계약전환일 fallback is carried even so: a contract on which the birth is never notified converts anyway, on a date computed from the expected delivery date.Priced male, trued up after delivery. 「태아보험 가입시 태아의 성별을 구별하기가 어려운 점 때문에, 일단 남자 아이를 기준으로 납입보험료가 산정되고 출산 후 성별대로 정산하는 구조」 R3, confirmed by a carrier’s published 민원 case [S8]. The composite prices male and does not model the true-up, because on the current published tables the direction is no longer reliable — four carriers price the female above the male and seven below, the spread running 62% to 114% of the male rate [S11].
Multiple birth is insurable and is a real pricing question. Before 2012 only the first-born was covered — 「태아가 복수로 출생한 경우에는 호적상 선순위로 기재된 자를 가입자녀로 합니다」 [S9 제48조] R3; from 2012-10-01 all foetuses of a multiple pregnancy became insurable R4, and the current 특칙 is the post-2012 wording [S8 제57조]. Carriers responded with 다태아플랜 riders at roughly 2× for twins and 3× for triplets, which R5 notes probably understates the risk. The composite is a single-foetus contract; the detail of the 2012 measure is unverified because the supervisory attachment is a scanned image R4.
The two ages a foetal contract carries, and the five-month offset#
보험나이 governs everything except the 만 15세 nullity test, where 실제 만 나이 applies R8 제21조제1항 단서 [S7 제27조제1항]. On a 태아 contract the two ages separate by a known amount rather than by an average, because the 계약나이 is 0 at the 계약일 [S8 제60조], the child’s 만나이 is 0 at birth, and the anniversaries on which 보험나이 increments run from the 계약일:
보험나이(t) = floor(t / 12)
만나이(t) = floor((t - b) / 12) for t >= b, undefined before
so the two differ by exactly b months for the life of the contract — five months at the
anchor cell, capped at six by [S8 제61조]. A model must hold both. 보험나이 governs the
premium, the anniversary on which the 갱신형 blocks renew, and the 15-year threshold at which
the 면책기간 switches on [S3] [S11]. 만나이 from the date of birth governs the benefit
scale — 「보험금 지급기준표에서 적용하는 피보험자 나이는 피보험자가 출생한 날부터 계산합니다」
[S8 제58조] — the 만 15세 death threshold R7 R8, and the age conditions written into
individual riders (ADHD진단비 from the 6세 계약해당일; 진성성조숙증 at 태아~4세; 중증틱장애 at
태아~2세) [S2] [S11]. Child_KR_S projects decrements on 만나이 and carries 보험나이 as the
contractual clock; on a non-foetal model point the offset is the ordinary half-year average and
is a std simplification, and on the anchor cell it is exact.
The basic contract — 보험가입금액 × 장해지급률#
benefit(event) = S x disability_rate(event), S = KRW 100,000,000
on the 3~100% band, payable more than once, the percentages accumulating R12 [S1] [S2] [S11].
장해 is 「상해 또는 질병에 대하여 치유된 후 신체에 남아 있는 영구적인 정신 또는 육체의
훼손상태 및 기능상실 상태」, excluding temporary states during treatment REG-R25, so the
trigger is a settled impairment whose incidence lags the accident rather than coinciding
with it. The one published rate in this file attaches here: 일반상해 후유장해 발생률(3~100%),
기본계약, 5세, 상해 1급, 남자 0.0001823, 여자 0.0001163 [S1] — 18.2 and 11.6 per 100,000 a
year, the order of magnitude a child accidental-disability decrement has to reproduce, and the
only observation of one anywhere in the research. technical-notes.md builds the age curve as
a [std] construction anchored on that pair. And because the benefit is a fraction of S
and the modal 장해지급률 on a child accident is small, the expected claim per event is far
below S: a model treating this cover as a lump sum at S overstates the liability by a large
multiple. The severity distribution is not published and is [std].
면책기간 — the under-15 disapplication, and the 태아 carve-out#
암보장개시일 =
the day the first premium is received if 보험나이 < 15 at the 계약일
the 91st day counting the 계약일 as day 1 if 보험나이 >= 15 at the 계약일
the day the first premium is received if the cover is a 태아가입용 form
so on the anchor cell the cancer benefit is in force from t = 0 and the chassis’s 90-day
control never operates at all. Read carefully, the rule is tested at the 계약일 and not at
the claim date — 「계약일 현재 보험나이 15세 미만 피보험자의 경우」 [S11], 「최초계약과
부활계약의 면책기간은 보험나이 15세 이상인 경우에만 적용」 [S3]. A contract issued at 계약나이
0 therefore has no cancer waiting period at any point in its hundred-year life, including
the eighty-five years during which the insured is an adult. That is not a drafting oversight;
it is the price of a rule written once at issue, and it is a real anti-selection asymmetry
against the adult Cancer_KR_S chassis. A model that re-tests the rule at each anniversary
is wrong.
The chassis’s invalidity mechanic — a diagnosis inside the waiting period voiding the affected
cover with premiums returned — therefore has nothing to attach to on the base run, and
waiting_months is 0 with 3 as the switch, the switch being what the same product looks like
written at 보험나이 15 or above, which is what the pre-2023 generation at 0~30세 was [S1] [S7].
Waiting periods that do survive, and which a model must not sweep away with the cancer one:
the 90-day 보장개시일 on the 누수사고 limb of the liability rider, running from the 계약일
and resetting to the renewal date on every renewal [S5] [S3]; the ordinary 90-day
책임개시일 on cancer-treatment hospital-cash and outpatient riders [S5]; 10-day waits on
certain infection and influenza riders, expressly disapplied on a 태아가입용 form — 「주7)
태아가입용의 경우 면책기간 없음」 [S3]; and the re-run of all of them from a 부활일 [S3].
감액기간 — why there is none, and what removed it#
benefit = 1.00 x (the full amount) at every duration
The market has moved to 감액없음 and prints the word in the benefit names at five carriers [S1] [S3] [S11]; where a 감액 survives it is the chassis’s first-year 50% [S6] [S11], and one current matrix applies it only to dental benefits, at 25% or 50% 「최초계약일부터 2년 경과시점 전일 이전」, with cancer at 「-」 throughout [S3]. And a 태아 contract may not be subject to 감액 at all; the 2015 변경권고 set the before-and-after wording out side by side R2:
종전 |
개선 |
|---|---|
제4조 ④ 피보험자에게 암보장개시일 이후 계약일부터 1년 이내에 … 보험금 지급사유가 발생한 경우 회사는 계약일부터 1년 초과시에 지급하는 보험금의 50%를 지급합니다. |
제4조 ④ (동일) 단, 피보험자가 보험가입 당시 태아(胎兒)인 경우에는 보험금의 100%를 지급합니다. |
The reasoning was that 「태아는 보험가입시 역선택 가능성이 거의 없는데도 성인과 동일한 기준을 적용하여」 the reduction was applied, and the trigger case was a newborn with a cerebral haemorrhage paid at 50%; 17 carriers and 56 products were covered, the recommendation was made 2015-06-17 and the wordings were amended between January and April 2016 R2. A current carrier confirms it still holds: 「암진단일이 보험계약일로부터 1년 미만인 경우 보험금이 삭감될 수 있습니다.(태아형의 경우 삭감없이 보험금이 지급됩니다)」 [S8].
So on the anchor cell both of the chassis’s anti-selection devices are disapplied, and each
by a different supervisory action a decade apart. That is the single most important thing this
document says about the morbidity basis: Child_KR_S has no contractual protection against
early claims at all, and whatever protection exists must come from the incidence assumption
itself.
The neonatal module and its two terms#
태아보장기간 : t = 0 .. b (계약일 ~ 출생일, including labour and delivery)
neonatal block : t = b .. b + 11 (1년만기 from birth; the cover ends at t = b + 12)
with the module’s premium 전기납 over the whole of it. The first term is stated as a term in its own right at one carrier [S2] and as a fixed 「1~10월만기 전기납」 at another [S1]; the second matches the description of the perinatal rider as 「출생 전후에 발생하는 질환에 대한 보장을 강화하려는 목적으로 출생 후 1년까지만 보장」 R5, and the 태아전용 covers are all written 1년만기 [S2]. Two benefit formulas are day-capped rather than amount-capped and must be implemented as such:
incubator benefit = KRW 50,000 x max(0, min(days_used, 60) - 2)
perinatal cash = KRW 10,000 x max(0, min(stay_days, 120) - 3),
payable only where stay_days >= 4
from 「최고 60일을 한도로 실제 사용일수에서 2일을 공제하고 인큐베이터 사용 1일당 보험가입금액 지급」 [S1] — the supervisor’s older form required 「인큐베이터를 3일 이상 사용」 instead of a two-day deduction R3 — and from 「4일이상 계속 입원하여 … 4일째 입원일로부터 입원 1일당 … (1회 입원당 120일 한도)」 [S1] and 「3일 초과 1일당, 1회 입원당 120일 한도」 [S8]. Both are severity distributions over days, not amounts, which is why the module’s cost is a length-of-stay question and why the supervisor’s worked claim is the useful datum (footnote 27).
The 출생위험 limb is a three-tier scale on the pre-birth term — 저체중아 출생 10%, 장해 출생 20%, 심한 장애 출생 100% of the module’s 가입금액, with a richer version adding a 저체중아(2.5kg 이하) tier at 5% [S1]. The 선천이상 limb pays on diagnosis of a 선천성 기형, 변형 또는 염색체 이상 after birth and again on surgery for one, with variants excluding 혀유착증 and 선천성모반 [S1]. The 신생아 뇌출혈 limb pays 가입금액 × 20% [S1], and it is the cover at the centre of the 2013 P-code dispute: the supervisor required in 2013-09 that neonatal claims be paid on the diagnosis name rather than the KCD code, ending refusals of 뇌출혈 claims coded P52 rather than in the I chapter, after which frequency and the loss ratio rose sharply and carriers tightened 뇌졸중 진단비 underwriting limits on 태아·어린이 business R5. A model of this module should treat its frequency basis as regime-dependent rather than stationary, and say so.
보험료 납입면제 — the child trigger#
on 50% 이상 후유장해 (상해 or 질병),
or on diagnosis of one of the 7대질병,
or on a 중대한특정상해수술,
the 보장보험료 is waived from the next instalment for the rest of the 납입기간
with 7대질병 = 암(유사암 제외), 뇌혈관질환, 중대한재생불량성빈혈, 양성뇌종양, 심혈관질환(특정Ⅰ, I49 제외), 심혈관질환(I49), 심혈관질환(특정Ⅱ), and 중대한특정상해수술 = 「상해로 뇌손상, 내장손상을 입고 사고일로부터 180일 이내에 받은 개두·개흉·개복수술」 [S2]. Five operative rules come with it [S2]: the waiver applies to the 보장보험료 from the next instalment; 출생전후기에 기원한 특정 병태(P코드) 진단시 납입면제를 적용하지 않음; on the 표준형 a waiver granted in one renewal cycle does not carry into the renewed contract; once the 보장보험료 is waived payment of the 적립보험료 stops as well; and a long list of riders is excluded — the whole 부양자 and 모성 block, and a second list (추간판장애수술, 시력교정, 시력치료, ADHD진단, 부정교합치료, 성조숙증, 중증틱장애, 대상포진, 원형탈모증, 특정언어장애 및 말더듬증, 틱장애약물치료, 질병악안면수술) for which the waiver applies only to events after that rider’s own 보장개시일.
The P코드 carve-out is the sharpest interaction in the product. The 태아 module’s whole reason for existing is the perinatal chapter of the KCD; the waiver expressly does not fire on it. So the covers most likely to pay in the first year of a foetal contract are precisely the ones that cannot stop the premium — which is coherent, a neonatal condition not being a lifelong impairment, and which a model must implement rather than average away.
Like the chassis’s waiver this one is a correlated decrement: it fires on the same events
that pay the diagnosis and disability benefits and then runs for as long as the insured
survives inside the 납입기간, so its value is an incidence rate multiplied by a post-onset
survival curve. Unlike the chassis’s it is worth very little in the early years — paediatric
cancer and cerebrovascular incidence are two orders of magnitude below the adult rates the
chassis is calibrated on REG-R40 — and a great deal from about t = 180, when the insured
reaches an age at which the 7대질병 begin to occur and which is still sixty months inside the
납입기간. The narrower alternative is switchable: one carrier sells the waiver as an optional
2종(보험료 납입면제형) on 「암(유사암포함)」, 「뇌졸중」 or 「급성심근경색증」 or a 50%
이상 후유장해, with its own exclusion list of some 130 riders [S1].
보험료 납입면제 on the 계약자 — a decrement on a life who is not the insured#
on the death of the 계약자,
or on a cumulative 장해지급률 of 50% or more from one cause affecting the 계약자,
all future premium is waived for the rest of the 납입기간
[S10 제22조제1항], quoted in full at footnote (14). This is the mechanic with no counterpart in
uslib, uklib, jplib, frlib or delib, and three things about it are worth stating
precisely.
Why it is lawful in one clause. The 생명보험 wording makes the 피보험자 of the contract 「계약자와 가입자녀」 — the policyholder is himself an insured [S10 제3조] — so his death is a contractual event of the main policy and not a third party’s, and 상법 제731조’s written-consent requirement for a policy on another’s death is satisfied by his own signature REG-R50. On the 손해보험 chassis, where the licence does not permit that drafting, the same economics arrive as a separate 부양자 rider stack on the parent’s own life, at issue ages 만15세 ~ (77−보험기간)세, of which one death form is compulsory on any 태아 contract: 「태아 가입 시에는 상해사망(부양자) 특별약관, 질병사망(부양자) 특별약관 중 1개의 특별약관을 의무가입」 [S11] [S5]. The market’s name for the economic effect is 교육자금 or 자녀양육비 — 「자녀나이에 따라 교육자금을 지급」 at one carrier, 「엄마 상해 사망 자녀양육비(5년지급형) — 5년간 매년 2천만원」 at another [S5] [S11].
Why the composite takes the waiver rather than the rider. They are not the same cash flow.
The rider pays a benefit and leaves the premium running; the waiver stops the premium and pays
nothing. On a twenty-year premium term the waiver’s value is the present value of the remaining
premium at the date the parent dies — a decreasing function of duration, zero after t = 240 —
while the rider’s value is a level sum assured throughout the rider’s own term, which stops at
80 on the non-life chassis because of the 질병사망 design rule (Regulatory context).
Modelling one as the other would be wrong in both level and shape.
What the model has to carry. A second decrement life with its own age, sex and mortality basis:
prem_waived(t) = 1 if the child trigger has fired at or before t
or the 계약자 has died at or before t
or the 계약자 is in a 50%+ 장해 state at or before t
with the 계약자 aged 만 33 at t = 0, so 만 53 at t = 240. The waiver’s whole value is
concentrated in the twenty years in which a 33-to-53-year-old parent might die or become
severely disabled, and Korean mortality at those ages is low, which is why the module is cheap
enough to be compulsory. Two further points. The decrements are not independent of each
other in any way the model can see, and the composite treats them as independent — a [std]
simplification stated in technical-notes.md. And the 계약자 may be changed during the
contract, which would change the decrement life mid-projection; no retrieved wording states how
the waiver responds, so the composite holds the 계약자 fixed and marks the point unverified.
A rider inherits the main contract’s waiver automatically — 「이 특약의 보험료 납입기간 중
주계약의 보험료 납입이 면제되었을 때에는 이 특약의 차회 이후의 보험료 납입을 면제하여
드립니다」 [S8] — so a single waiver event stops the whole premium stream and not just the
core.
The 갱신형 blocks inside a 비갱신형 contract#
The clearest statement of the architecture is a direct-channel product built end to end of
renewable blocks: 20년만기 / 30년만기 with 최초 가입나이 0~30세, renewal age ranges written as
(보험기간)세 ~ (100−보험기간)세, shorter 1~19년 and 21~29년 blocks renewing to
(100−보험기간)세, and different ceilings by cover group — 80, 70, 98 and 30 in place of
100 for 중증화상, 장기이식, 재진단암 and 다발성소아암, with 재진단암 additionally carrying a
1년만기 renewal at 97, 98 and 99세 [S7]. 제29조(계약의 자동갱신) requires notice 15 days
before the term ends, and 제28조 provides that 「피보험자가 사망한 경우, 이 계약은 그 때부터
효력이 없습니다」 [S7].
In the composite the core covers are 비갱신 and only 가족일상생활배상책임 renews, on a
3년만기 cycle [S2]. What the renewal does: the premium is recomputed at the attained
보험나이 on the rate basis in force at the renewal date, so it is a function of the renewal
index rather than of the policy year [S7]; the 보험가입금액 is unchanged; no fresh waiting
period attaches, except that the 누수사고 limb’s 90-day 보장개시일 does reset to the
renewal date [S5]; no 감액 [S2] R2; a waiver granted before renewal does not carry
into the renewed contract [S2]; and the block ends at its own cover-group ceiling, which may
be far short of 100 [S7]. The contract-boundary question is real and this document does not
resolve it: a 3년만기 자동갱신 liability rider inside a 비갱신 hundred-year contract is either
one contract with a repricing feature or a series of three-year contracts, and the answer
changes the CSM. Child_KR_S projects the renewals as a continuation of the same contract and
records the choice.
Death of the insured, and what is paid instead#
on death at any age: pay 계약자적립액(t) + 미경과보험료(t); contract ends
There is no 사망보험금 below 만 15세 and the prohibition is statutory: 상법 제732조 makes such a contract 무효 R7 REG-R50, the 표준약관 restates it at 제19조제2호, and 제19조제3호 adds that the saving for an age misstatement discovered after the insured has reached the contractual age 「제2호의 만 15세 미만자에 관한 예외가 인정되는 것은 아닙니다」 R8 REG-R25. The 생명보험 wording pays a 사망보험금 only 「만 15세 계약해당일 이후」 [S10 제21조], and the older market answer was to return premiums R3 R5.
The composite pays the 계약자적립액 plus the 미경과보험료, because that is what 감독규정 제7-63조제1항제1호 requires of a 제3보험 contract on a death it does not cover REG-R17 and what 표준약관 제22조 implements — 「산출방법서에서 정하는 바에 따라 회사가 적립한 사망 당시의 계약자적립액」 REG-R25 — with 상법 제736조 as the statutory floor REG-R50. On the 표준형 that is a real amount from about year 3 (₩820,910 at 3 years on a ₩50,000 monthly premium in the published grid [S2]); on the 미지급형 switch it is close to nil for the whole payment period, and a family whose child dies in year 10 receives almost nothing. That is a real and uncomfortable property of the suppressed form and it is stated rather than smoothed. 상법 제739조 — 「상해보험에 관하여는 제732조를 제외하고 생명보험에 관한 규정을 준용한다」 R7 REG-R50 — makes accidental-death cover on a child under 15 lawful; the market nonetheless writes 일반상해사망 only from 만 15세 [S1] [S4] [S11], which is more conservative than the statute requires. That reading is unverified and no parameter depends on it.
계약자적립액, 해약환급금 and the 무해지 cliff#
계약자적립액(t) accrues monthly to t = 240 and daily thereafter,
credited at the 공시이율 (1.70%) floored at the 최저보증이율 (0.30%)
해약환급금(t) = max( 계약자적립액(t) - 해약공제액, 0 ) [표준형]
= 0 [미지급형, t < 240]
= 0.50 x 표준형 해약환급금(t) [미지급형, t >= 240]
on any termination, add 미경과보험료(t)
The basis is stated by the carriers in the same words: 「금융감독원장이 인가한 산출기준에 따라 계산한 이 보험의 순보험료식 계약자적립액에서 해약공제액을 공제한 금액을 해약환급금으로 지급하여 드립니다」 [S2], and 「순보험료식 책임준비금에서 해지공제액을 공제한 금액」 [S1]. The regulation floors it at zero, caps the 해약공제기간 at seven years, fixes the 해약공제액 at the 표준해약공제액 of [별표 14], and requires the monthly / daily accrual split REG-R19 REG-R20.
The 50% is 50% of a product nobody can buy. The comparator is synthetic and both carriers say so: 「기준이 되는 2종(표준형)의 해지환급금은 … 해지율을 적용하지 않고 계산함」 [S1], and 「’해약환급금미지급형 비교상품’은 … 해지율을 적용하지 않은 상품이며, 비교안내를 위한 종목으로 실제로 판매하지 않음」 [S3]. So the suppressed form’s post-completion value is half of a hypothetical cash value computed without the lapse assumption used to price the form itself — which is the whole reason that assumption became a supervisory matter R11 REG-R27 REG-R28.
The published grid at footnote (29) is the target and it has three features no smooth curve will fit. The suppressed value is nil through the entire payment period and jumps to 64.0% of premiums paid ten years after completion. The 표준형’s value crosses premiums paid at about year 30 and keeps rising to 158.9% at year 60. And both collapse at maturity, the 표준형 to 16.0% at 95 years and the 미지급형 to 0.0%, because there is no 만기환급금 on the protection part and what remains is only the residual 적립부분. A third 종 shows a fourth shape: on a 보험기간 연장형 the 환급률 is 76.0% at 20 years and then, on the 최저보증이율, falls to 61.8% at 25 years — 76.5% on the 공시이율 — because the 적립부분 is being consumed to extend the cover [S2].
Exclusions and 면책#
The composite carries three grounds on which a claim is not paid and is honest that the general
article is missing: the pre-birth invalidity rule, under which 유산 or 사산 makes the
contract 무효 and every premium is returned [S8 제56조] [S9]; non-disclosure, below; and
fraud in the formation of the contract, voidable within five years of the 보장개시일 and
one month of discovery REG-R25 제15조. The general 보험금을 지급하지 않는 사유 articles were
not read in full for this product line. The statutory floor is 상법 제659조 and 제660조,
and 제663조 makes the whole Part one-way mandatory so that no 약관 may vary it against the
policyholder REG-R49. Two sourced exclusions sit outside the general article and are
implemented where they arise: the P코드 carve-out from the premium waiver [S2], and the
exclusion of 혀유착증 and 선천성모반 from some 선천이상수술비 variants [S1]. The 2-year
자살면책 [S8] has nothing to attach to. No exclusion decrement is modelled, and
technical-notes.md records this as an unverified area.
고지의무 and 계약 전 알릴 의무#
The two names are one duty; the 표준약관 says the 계약 전 알릴 의무 is 「상법상 ‘고지의무’와 같습니다」 REG-R25 제13조. 상법 제651조 gives rescission for an intentional or grossly negligent misstatement or omission of a material fact, within one month of the insurer learning of it and three years of formation, and not at all where the insurer knew or was grossly negligent in not knowing; a matter asked about in writing is presumed material, and 제655조 gives the causation defence REG-R49. The 약관 narrow the window in the policyholder’s favour, which 상법 제663조 permits: no termination where two years have passed from the 보장개시일 with no claim event — one year for disease in a 진단계약 — or where the insurer accepted on a health-examination document, or where the 보험설계사 prevented truthful disclosure; and 제14조제5항 bars termination for non-disclosure of other insurance held REG-R25 제13조·제14조.
Two features are specific to this product. On a 태아 contract the disclosure is about the pregnancy and the mother, not the insured — the insured does not yet exist, and the material facts at underwriting are the gestational week, the antenatal screening results and the mother’s own history. No retrieved wording states how 고지의무 applies to facts about a person who is not the 피보험자, and the point is marked unverified. And underwriting responds short of rescission through a 특정 신체부위·질병 보장제한부 인수특약 [S8], which on this product would most naturally attach to a congenital finding.
청약철회, 품질보증해지, 실효 and 부활#
청약철회 is the cooling-off right of 금융소비자보호법 제46조제1항제1호 — 「보험증권을 받은 날부터 15일과 청약을 한 날부터 30일 중 먼저 도래하는 기간」 REG-R51 — implemented at 표준약관 제17조 with three exclusions (an insurer-funded health examination, a contract of 90 days or less, a 전문금융소비자), effectiveness on despatch, and premiums returned within three business days REG-R25 [S8]. 품질보증해지 is the 상법 제638조의3제2항 right: cancellation within three months of formation where the 약관 was not delivered, its important content not explained, or the application not signed REG-R49 REG-R25 제18조제3항 [S8]. Both are out of scope for the model, which projects from the point cover is in force — though on a 태아 contract the cooling-off window has a peculiar property worth recording: it expires months before the insured exists, so between its end and the birth the policyholder’s only routes out are 해지 or, if the pregnancy fails, the 무효 rule, which returns everything.
Lapse is specified at Termination and values, and two things are peculiar to this product. On
the 표준형 base there is something to break the fall — a surrender value from about year 3
and a 보험계약대출 against it REG-R25 제33조 — whereas on the 미지급형 switch there is
nothing at all, so the same lapse rate produces a materially different cash flow REG-R28. And
부활 restores almost nothing below 보험나이 15: reinstatement is available within three
years even where there is no surrender value, and may not be refused merely because a claim
event occurred before termination REG-R25 제27조 [S8]; every waiting period re-runs from the
부활일 [S3]; but below 보험나이 15 there is no cancer waiting period to re-run, so a reinstated
child policy is, uniquely in this library, very nearly the policy that lapsed. Child_KR_S
nonetheless treats lapse as absorbing and records the simplification.
Expiry#
The contract ends at the 100세 계약해당일, t = 1200 at the anchor cell. Nothing is paid
beyond whatever 계약자적립액 remains — 16.0% of premiums paid at 95 years on the 표준형’s
published grid and 0.0% on the 미지급형’s [S2] — and there is no 만기환급금 on the protection
part [S1] [S2]. On a 태아 contract the terminal date is fixed by the 계약일, not by the
birth, so the insured’s age at expiry is 100 less the pre-birth period: on the anchor cell the
contract expires when the insured is 99년 7개월 old by 만나이. That five-month asymmetry
between the contractual clock and the life runs the whole length of the projection, and it is a
direct consequence of [S8 제60조] setting the 계약나이 to 0 before the child exists.
Riders and options#
In scope (modelled or parameterized):
태아가입 module — the 태아보장기간 and the 1년만기 neonatal block, with the incubator, perinatal-cash, congenital-anomaly, neonatal-haemorrhage, birth-risk and preterm limbs; the 무효-on-유산/사산 rule; the priced-male convention; the six-month 계약일 reset. On in the base run [S1] [S2] [S5] [S8] R3.
계약자 납입면제 module — a waiver decrement on the policyholder’s own life, at 만 33 male. On in the base run [S10 제22조].
Child 납입면제 — the 7대질병, 50% 후유장해 and 중대한특정상해수술 triggers with the P코드 carve-out and the rider exclusion lists. On in the base run [S2]; the narrower 2종 form is a switch [S1].
해약환급금 미지급형 — 0% during payment, 50% after, premium at 78% of the 표준형. Switchable; off in the base run [S2] [S11] REG-R19.
해약환급금 미지급형Ⅲ — the ten-step graded ladder from 5% to 50% [S1]. A second switch.
갱신형 chassis — attained-age re-rating on 20년/30년 blocks with cover-group ceilings; no fresh waiting period, no 감액, no carry-over of a waiver [S7] [S2]. Off in the base run.
뇌혈관질환 / 허혈성심장질환 broad definitions — a benefit-definition switch on the two adult-disease limbs [S11] [S2].
감액기간 —
reduction_monthswith observed values 0 and 12, disapplied on a 태아 contract [S6] [S11] R2. 0 in the base run.2026 저출산 premium discount — a 1%–5% haircut for twelve months R6. Off.
110세만기 — a term switch [S4].
일반상해사망 from 만 15세 — a death benefit attaching at the anniversary on which the insured reaches 15 [S1] [S4] [S11]. Off.
Out of scope: the 임신·출산질환 module written on the mother, including 모성사망, the 유산 limbs, 임신중독증, 태반조기분리, 양수색전증 and 출산전특정태아이상진단 [S2] [S5]; the 부양자 benefit stack, including 상해사망(부양자), 질병사망(부양자), 보험료납입지원(6대질병 진단)(부양자) and the 교육자금 / 자녀양육비 annuity forms [S2] [S5] [S11]; 다태아 plans R4 R5; the named-cancer riders 다발성소아암, 16대특정암, 5대고액치료비암, 전이암 and 재진단암 [S1] [S3] [S11]; the 50% and 80% 후유장해 생활지원금 twenty-year annuity forms [S11]; the adolescent and child-specific riders listed at Options; 골절수술비, 성장판손상골절, 화상수술비, 중증화상·부식진단 and 깁스치료비 [S1] [S11]; the 보험기간 연장형 3종 [S2]; the 계약전환형 2형 [S1]; 실손의료비 riders of any kind, which are not attachable R9 R10 REG-R17; and the 적립부분 mid-term withdrawal facility, which no retrieved child wording specifies.
Variations across insurers#
Maximum 만기. 100세 at four carriers [S1] [S2] [S5] [S6] and 110세 at one [S4]; the life-chassis wordings retrieved are older and shorter [S8] [S9] [S10]. Composite: 100세, the modal maximum and the term every published premium and cash-value grid is quoted on.
가입나이. 태아~15세 at every current non-life product [S2] [S4] [S5] [S6]; 0~30세 in the pre-2023 generation of two of the same lines [S1] [S7]; 0~15세 and 0~20세 by 종 at one life carrier, unverified [S16]. Composite: 태아~15세, with the pre-2023 envelope documented because the change is datable to a supervisory action rather than to a market movement R1.
The 태아 sub-term. A named 태아보장기간 = 계약일~출생일 with a separate rider block at one carrier [S2]; a fixed 「1~10월만기 전기납」 at another [S1]; a 1년만기 전기납 obligatory block at a third [S4]; a 특칙 with no separate term at all on the life chassis [S8] [S9]. Composite: the two-term form, merged into one 17-month module.
The 태아 enrolment window. Stated in a primary document at only one carrier — 임신 22주 이내 for the neonatal block, 임신 15주 이내 for one dental rider [S5]. The supervisor’s 2008 statement is 「최장 임신 24주까지」 R3 and 보험연구원’s 2018 one 「임신 8주가 지난 후부터 24주까지」 R5; the widely repeated 손해보험 22주 / 생명보험 16~22주 split is a consumer-guide claim and is unverified. Composite: 22 weeks, the only bound in a primary product document.
Suppressed surrender-value forms. Every carrier offers at least one [S11]. The post-completion fraction is 50% at seven [S2] [S3] [S5] [S6] [S11], and one carrier’s 2019 generation offered three at once — 납입후 100%, 납입후 50% and a graded 5%–50% ladder [S1]. Composite: the 50% form as the switch and the graded ladder as a second switch (footnote 29).
The disclosed pricing lapse rate. Published by exactly one carrier, in one edition — 5.0% / 3.0% / 1.0% during payment and 0.5% or 0.65% afterwards [S1] — and by nobody else [S2] [S3] [S4] [S5] [S6]. Composite: the 2024 guideline basis, log-linear to 0.1% at 완납 and 0.8% thereafter R11 REG-R27, with the 2019 disclosure as a comparison switch. The two are an order of magnitude apart inside the payment period and the difference falls almost entirely into the CSM.
The waiver trigger on the child. 50% 후유장해 or 7대질병 or 중대한특정상해수술 at one carrier [S2]; 암(유사암 포함), 뇌졸중 or 급성심근경색증 or 50% 후유장해, sold as an optional 종, at another [S1]; an obligatory 자녀 납입면제 rider at two more [S4] [S5]; a 납입면제대상 특별약관 published as a benefit at a fifth [S11]; 암 or 50% 후유장해 on the life chassis [S10]. Composite: the 7대질병 set (footnote 14).
The waiver on the parent. A 부양자 rider stack at every non-life carrier [S2] [S4] [S5] [S11], compulsory on a 태아 contract at one [S5] [S11]; the 계약자’s death or 50% 장해 in the main clause on the life chassis [S10 제22조]. Composite: the life-chassis clause, because it is a decrement and the rider is a benefit (footnote 14). This is the largest single design divergence in the product and the two forms are not interchangeable.
The P코드 carve-out from the waiver. Stated at one carrier [S2] and not located in the extracted text of any other. Composite: adopted, because it is the only positively stated treatment and because it decides whether the 태아 module can stop the premium.
The cancer 면책기간. 90 days with an express 보험나이 15 이상만 qualification at one carrier [S3] and in a benefit definition at another [S11]; not located in the extracted text of [S2] or [S4]; a 90-day 책임개시일 on cancer riders at a fifth [S5]. Composite: disapplied below 15 and disapplied entirely on a 태아 form [S3] — evidenced twice, by two carriers, in two document types, and by the research institute’s account of the 2006 change R5.
The 감액기간. 감액없음 at five carriers, inferred from 「(감액없음)」 in the published benefit names [S1] [S3] [S11]; 1년 이내 50% at one [S6] [S11]; 감액 on dental benefits only at another [S3]; 1년 미만 삭감 with an express 태아형 제외 on the life chassis [S8]. Composite: none. Reading 「(감액없음)」 in a benefit name is strong but is not the same as reading the clause, and the point is marked.
배상책임. A 갱신형 가족일상생활배상책임 Ⅲ/Ⅳ at one carrier [S3]; 일상생활중배상책임Ⅳ(가족) on a 3년만기 renewal with 누수 포함 / 제외 forms at another [S2]; a fixed ₩100,000,000 with the three limits and two deductibles at a third [S5]; absent entirely from the life chassis, which has no licence to write it [S8] [S9] [S10] R5. Composite: the fixed form (footnote 26).
Interest. 보장부분 적용이율 2.50%–3.00%, 공시이율 1.60%–2.20%, 최저보증이율 0.20%–0.50%, published per product [S11]; not published at all on the life chassis. Composite: 2.75% / 1.70% / 0.30%, the modal value of each column (footnote 18).
Sex relativity and price level, neither of which behaves. Four carriers price the female higher and seven the male higher, the female premium running from 62% to 114% of the male [S11] — a benefit-mix effect rather than a pure morbidity effect, since the products differ in whether the compulsory set is dominated by accident cover, male-heavy at child ages, or by cancer and thyroid cover, female-heavy at adult ages. Any
[std]morbidity basis must state which of the two it reproduces and why, and the composite’s does. The absolute level varies by a factor of seven on a nominally standardised basis — ₩21,502 against ₩148,250 for a male 5-year-old — because carriers include different compulsory rider sets in the quoted 보장보험료 [S11]; the normalising statistic is the 보험가격지수, and even that mostly shows the 무해지 form’s index 8 to 18 points above the 표준형’s — at eight of the nine carriers publishing both, because the index divides by a reference net premium computed without the suppressed-lapse credit — while the ninth prints its 미지급형Ⅱ at 89.5 (male) against a 표준형 96.4, about 7 points below, so the pattern is strong but not universal [S11].What does not vary. The insured comes into existence at birth and cover attaches then; 유산 or 사산 voids the contract and returns the premium; a 태아 contract is priced at 계약나이 0 and re-rated at birth; the death benefit is unavailable below 만 15세; the neonatal covers run on a one-year term; the 무해지 form exists at every carrier and is priced 18%–33% below the 표준형; the surrender value on the suppressed form is nil for the whole payment period and steps up at 납입완료; the product is 무배당; and there is no 만기환급금 on the protection part. These are the invariant core of the composite, and the parts of it any future child-product delta should expect to inherit unchanged.
Regulatory context#
Classification. 어린이보험 is 제3보험 business — 상해보험 and 질병보험 together, under 보험업법 제2조제1호다목 and 제4조제1항제3호 — and 제4조제3항’s deeming provision makes the class writable under a life or a non-life licence alike REG-R1. Written as a 장기손해보험 it is designed identically, 감독규정 제7-61조 applying the whole of the 제3보험 design rule 제7-63조 to it REG-R17. Everything below follows from that classification and from one article of the commercial code.
상법 제732조 is the statute that shapes the product. 「15세미만자, 심신상실자 또는 심신박약자의 사망을 보험사고로 한 보험계약은 무효로 한다」 R7 REG-R50. It is why this product has no death benefit, why the 표준약관 restates it at 제19조제2호 and refuses to extend the age-correction saving to it R8 REG-R25, why 일반상해사망 is written only from 만 15세 across the whole market [S1] [S4] [S11], and why the composite pays the 계약자적립액 instead. 제739조 makes accidental-death cover on a child lawful by excepting 제732조 from what 상해보험 borrows R7 REG-R50, and the market’s refusal to write it is more conservative than the statute requires; that reading is unverified. 제739조의2 (신설 2014-03-11) is the only article of 상법 addressing disease insurance directly, and 제739조의3 borrows the life and accident rules for the rest REG-R50: the contract law of this product is borrowed law, and its detail lives in the 약관 and the 표준약관.
The payment on a non-covered death. 감독규정 제7-63조제1항제1호 requires a 제3보험 product to be designed so that, on death from a cause the policy does not cover, the 계약자적립액 and the 미경과보험료 of 제7-66조제5항 are paid and the contract terminates REG-R17; 표준약관 제22조 implements it and 상법 제736조 floors it REG-R25 REG-R50. This is a first-order modelling requirement: a Korean child policy must carry an account balance even though it is not a savings product.
Surrender values. 감독규정 제7-66조제1항 sets 해약환급금 = 계약자적립액 less 해약공제액, floored at zero, over a 해약공제기간 that is the payment period capped at seven years, with the deduction fixed at the 표준해약공제액 of [별표 14] REG-R19 REG-R20. Because this contract has no 일반사망보험금, its 보험가입금액 for that formula is the notional amount of [별표 15] 제9호 — the ratio of risk premiums scaled onto a term policy’s face amount, computed at the 기준연령 요건 REG-R21. 제7-70조 applies the whole regime to 제3보험 and 제7-69조 to 장기손해보험, so one surrender-value regime governs the product on either licence REG-R19.
The 무해지 form. 제7-66조제4항 permits a 순수보장성보험 priced with a 최적해지율 to pay less than the [별표 14]-floored value — a regulatory dispensation conditional on having used a best-estimate lapse rate, not a contractual device — subject to 제2호’s twin test that the post-payment value exceed 50% of the 표준형’s and the post-payment 환급률 exceed the greater of 100% and the 표준형’s REG-R19. The 2020 amendment inserting that test was calibrated on a worked example in which a 표준형 20-year 환급률 of 97.3% stood against a 무해지 환급률 of 134.1% REG-R28. The FSS’s 2019 consumer alert adds two operational facts this document uses: the form is a 보장성보험 and unsuitable as savings, and a 무해지 contract cannot support a policy loan during the payment period REG-R28 REG-R25 제33조.
The lapse assumption. The 2024-11-07 계리가정 guideline is why a [std] lapse vector on
this product is defensible at all. It names the 로그-선형 모형 converging to 0.1% at
납입완료 as the 원칙모형, sets the post-completion ultimate at 0.8% or a 20% relativity,
and requires an insurer departing from it to disclose, quarterly and in its audit report, the
difference in CSM, best-estimate liability, K-ICS ratio and net income R11 REG-R27. It
records that the 무·저해지 share of 보장성 초회보험료 ran 11.4% (2018) → 30.4% (2021) → 47.0%
(2023) → 63.8% (2024 H1) R11 REG-R27; 어린이보험 is not named, but every 무해지
어린이보험 form on the comparison board is inside its scope [S11]. The same release requires
loss ratios to be split by age cohort where experience is sufficient and the split is
statistically significant, with the worked example running 30s 89% → 40s 103% → 50s 140% → 60s
186% on 상해수술 REG-R27 — which on a hundred-year child contract is not a refinement but the
main event.
Product-design interventions specific to this line. Four are datable and all four are in this document. 2012-10-01: all foetuses of a multiple pregnancy become insurable R4. 2015-06-17 → 2016-04: the first-year 감액 is removed for foetal contracts across 17 carriers and 56 products R2. 2016-07-14: sixteen carriers and nineteen products are ordered to stop advertising cover before birth, under 보험업감독규정 제4-35조제3항 R2. 2023-07-19: a 감독행정 restricts the use of the names 어린이보험 and 자녀보험 where the maximum issue age exceeds 15, with existing products to be amended by the end of 2023-08 R1. None of the four is a rule change; all four are supervisory administration, and all four changed the product.
The 실손 separation. From April 2018 실손의료보험 must be sold as a standalone product
consisting only of indemnity-medical cover, under 보험업감독규정 제7-63조제2항제1호 as amended
2017-03-22 with a one-year transition R9 R10 REG-R17. That is why a modern 어린이보험 has
no child-side 실손 rider [S2] [S3] [S4] [S5] [S6], why a Korean family buys the indemnity layer
separately as Medical_KR_S, and why the supervisor’s 2008 worked claim — 43% of whose
₩16,836,420 was indemnity — cannot be reproduced by a current contract R3.
A non-life design rule visible in the product. One carrier’s summary of its own 사업방법서 states: 「질병을 원인으로 하는 사망을 특약으로 보장하고자 하는 경우에는 … (1) 보험기간은 80세만기 이내로 함 (2) 질병사망보험금의 한도는 개인당 2억원 이내로 함 (3) 만기시에 지급하는 환급금은 납입 보험료 합계액의 범위 이내로 함」 [S5]. This is why the 질병사망(부양자) rider stops at 80 while the child’s own cover runs to 100 or 110, and it is a constraint the 계약자-waiver design has to work within if it is written as a rider rather than as a clause.
Pricing and rate filing. Pricing is by 현금흐름방식 for any contract longer than three
years, with an adequacy analysis on 최적기초율 and projected cash flows REG-R18
제7-64조제1호. The 참조순보험요율 is filed by 보험개발원 with the FSC under 보험업법
제176조제4항 and an insurer applying it is deemed to have filed REG-R4; there is no general
publication obligation, but 제176조제9항 lets the bureau publish 순보험요율 산출 자료 where
policyholder protection requires it, and for 장기손해보험 it does — a dated display of
암 발생률, 질병입원율 and 후유장해 by age and sex, reaching 연령 0 and 10 REG-R61. This
product’s research pass did not open it, so every incidence rate in this model is [std] as
an unreconciled construction rather than for want of a public grid REG-R61 REG-R34. The
산출방법서, which holds each carrier’s own 적용위험률 and 예정사업비율, is a 기초서류 and
is not disclosed REG-R2. What reaches the public is the 보험가격지수, published in the
상품요약서 and on the comparison board under 감독규정 제7-45조제7항 REG-R22 [S11], and the
specimen premium on the board’s standardised basis R12 [S11]. Commission is capped:
first-year remuneration may not exceed the first year’s expected premium and instalment
structures pay no more than 60% of
the 표준해약공제액 a year REG-R22 제4-32조제5항·제8항 REG-R29.
Mortality basis. The industry table — the 제10회 경험생명표, applied to new business
from April 2024 — is not published in full; only summary statistics are released, and the
retrieved figures come through a trade newspaper REG-R33 REG-R34. Every mort_table.csv in
krlib is therefore a [std] construction anchored on the public 국가데이터처 완전생명표
REG-R38 REG-R39 and on the gap those summary statistics imply, with a provenance column
on every row, and the library’s tables must never be presented as the 경험생명표 REG-R33.
On this product the mortality basis carries three lives — the child, the 계약자 and, if the
mother module is on, the mother — and the child’s is the one for which Korean public data is
thinnest.
Measurement. K-IFRS 제1117호 has been mandatory since 2023-01-01 REG-R60, K-ICS since the
same date REG-R13, and on top of both sits the 해약환급금준비금, a company-level
appropriation inside 이익잉여금 of the excess of aggregate contractual surrender value over the
IFRS 17 liability REG-R11. A 무해지 child policy is precisely the shape that reserve was
built to catch — the gap negative for twenty years and steeply positive afterwards — and
precisely the shape whose CSM is most sensitive to the lapse assumption REG-R27.
Child_KR_S computes none of the three. What it owes them is a projection re-runnable on a
re-set assumption basis at a stated 기준일, over a hundred-year horizon, with the lapse vector
and the two waiver decrements as explicit and separately switchable parameters.
Tax, protection and the 2026 state intervention. A 보장성 어린이보험 premium attracts a 12% tax credit — 15% for a 장애인전용보장성보험 — capped at ₩1,000,000 (100만원) of premium a year, under 소득세법 제59조의4제1항, on a contract whose 「만기에 환급되는 금액이 납입보험료를 초과하지 아니하는」 REG-R57. That is a credit, not a deduction, worth at most ₩120,000 a year before the local surtax, and its qualifying test is the same economic test 감독규정 제1-2조제3호 uses to define a 보장성보험 REG-R9 — which is why this product sits cleanly on one side of the 저축성 / 보장성 line. Benefits are not modelled net of policyholder tax. 청약철회 is the 15/30-day right of 금융소비자보호법 제46조 REG-R51 and 품질보증해지 the three-month right of 상법 제638조의3제2항 REG-R49; the 지정대리청구 service must be offered wherever 계약자 = 피보험자 = 보험수익자 [S5] [S8], which on a child policy it never is, so it is one of the few standard Korean provisions this product does not need. On insurer failure, 예금자보호법 covers ₩100,000,000 per person per insurer, in a bucket that expressly excludes benefits payable because the term has ended REG-R52 REG-R25 제43조. And from 2026-04-01 every Korean insurer operates a 1%–5% 어린이보험 premium discount for one year on a birth, 육아휴직 or 육아기 근로시간 단축, part of a 「저출산 극복 지원 3종 세트」 whose expected consumer benefit is about ₩1,200억원 a year, from whose companion premium-deferral limb 어린이보험 is expressly excluded R6. Beyond the cash-flow effect (footnote 20), that release matters for a second reason: it is a primary supervisory document treating 어린이보험 as a distinct, identifiable product class with its own premium aggregate — ₩9.4조원 against ₩42.7조원 for all 보장성 인보험 R6 — which is what makes a reference model of it worth building.