The Data Space

Input data shared by every by-contract projection.

The four input CSVs are read here, once per model, and referenced from Projection as data. Projection is parameterized by point_id, so each Projection[N] is a separate ItemSpace with its own cells cache; if the readers lived there, every model point would re-read every file. Holding them in an unparameterized Space reads each file once no matter how many contracts are projected.

Inputs are external files: plain CSVs in the model folder’s parent directory, products/immediate_annuity/, rather than data stored inside the model. The model folder therefore holds nothing but formulas — no _data/, no IOSpec, no embedded values — so a diff of the model shows logic changes only. This follows annuallife.TradLife_A; contrast basiclife.BasicTerm_S, which keeps its inputs inside the model through modelx’s IOSpec machinery.

The consequence worth knowing: the model is not portable on its own. Copying the Immediate_KR_S folder without its parent’s CSVs produces a model that reads and then fails on first evaluation.

input_dir() resolves the directory from _model.path.parent at run time, so the model works wherever the repository is checked out. Each table has a filename Reference and a reader Cells:

Reference	Cells	File
model_point_file	model_point_table()	model_point_table.csv
mort_table_file	mort_table()	mort_table.csv
charge_table_file	charge_table()	charge_table.csv
crediting_table_file	crediting_table()	crediting_table.csv

There is no lapse table, no surrender-value schedule and no commission scale, because the product has none of those things. The 해약공제액 is nil at every duration on every retrieved carrier, so a surrender-charge schedule would be a file of zeros; the 모집수수료 is a single first-year rate on a single premium and sits in charge_table.csv beside the loads it has to stay below; and no retrieved source gives a surrender rate for 즉시연금 at all, so the lapse assumption is carried as a per-model-point scalar in model_point_table.csv where its effect can be isolated, and the technical notes state its level and its sensitivity.

Substituting a filed basis means replacing mort_table.csv with a same-schema file keyed on exactly the same (sex, age) in 보험나이, and charge_table.csv and crediting_table.csv with the filed 산출방법서’s own figures. No formula changes.

Cells Descriptions

input_dir()

The directory holding the input CSVs: the model folder’s parent.

Inputs are external files, not data stored inside the model, so the model folder is pure formulas. The path is resolved at run time from where the model was read, following annuallife.TradLife_A.

model_point_table()

The model point table, read from model_point_table.csv.

One row per contract, indexed by point_id. Model point 1 is the technical notes’ worked-example anchor cell: 남자, 보험나이 60, 일시납 ₩100,000,000, 종신연금형 with a ten-year 보증지급기간. The columns are a configuration and not an assumption set, which is why this is the one input file in the library that carries no provenance column — with the single exception of lapse_rate, an assumption in disguise that is carried per model point because no source gives a surrender rate for this product and its effect has to be isolable.

mort_table()

The annuitant mortality rates by sex and 보험나이, from mort_table.csv.

The 개인연금사망률 (gaein yeongeum samangnyul), used by the 종신연금형 alone for its annuity factor and by every shape for the death-benefit decrement. It is a [std] construction and not the 경험생명표: the 제10회 경험생명표, applied from 2024-04, is produced by 보험개발원 and is not published in full — only 평균수명 and 기대여명 are released — so there is no Korean annuitant table to transcribe. The shipped rates are a Makeham law fitted exactly to the two published 개인연금사망률 anchors at 보험나이 60 and 70 and to the published 65세 기대여명, with qx = 1 at the limiting age; the provenance column on every row records which of the three each row rests on and what the residual at 보험나이 50 is. Sorted on read, because Projection.mort_rate indexes into it.

charge_table()

The expense load, risk premium and commission by payout shape, from charge_table.csv.

Indexed by shape. The 계약체결비용 and 계약관리비용 are deducted from the single premium once, at inception, as is the 위험보험료 on the two shapes that keep a death benefit; the 연금지급기간 charge of 0.80% of the 연금연액 is the only recurring one, and it is modelled as an insurer expense measured on the annuity rather than netted off the policyholder’s payment. acq_expense_rate is the load less the commission, so that the charge taken from the fund at inception exactly meets the outgo at inception.

crediting_table()

The 공시이율 and the duration-stepped 최저보증이율, from crediting_table.csv.

Read without an index, because the lookup is a duration-band test rather than a key lookup: each row gives a half-open band [dur_from, dur_to) in completed policy years and the 최저보증이율 that applies in it, beside the declared rate, which is uniform across the bands of a basis. Two bases are shipped: decl_2017, the representative one, and min_guar, on which the declared rate is zero so that Max[공시이율, 최저보증이율] resolves to the floor at every duration and the stepping is exercised by a shipped model point.