The Data Space

Input data shared by every by-policy projection.

The three 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 policies are projected.

Inputs are external files: plain CSVs in the model folder’s parent directory, products/whole_life/, 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 WholeLife_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
lapse_table_file	lapse_table()	lapse_table.csv

The mortality table is a construction, and the reason is that Korea publishes no table at all

The industry table is the 제10회 경험생명표 (gyeongheom saengmyeongpyo, experience life table), produced by 보험개발원 and applied to new business from April 2024. It is not published in full: what is released is the summary — 평균수명 and 기대여명 — and not the rates, and even those were retrieved for this library only through a trade newspaper [REG-R33] [REG-R34]. The 참조순보험요율 the bureau files with the FSC are likewise never published. There is therefore no published Korean insured mortality rate to anchor a proxy on, which is the sharp contrast with jplib, where the 生保標準生命表 is free to read and only its redistribution is restricted.

mort_table.csv is accordingly a [std] construction and its provenance column says so row by row. Three kinds of row:

ANCHOR rows at 보험나이 20, 40 and 60 take the mean of the only two Korean insured mortality rates in the public domain at those ages — the sample 적용위험률 grids that 하나생명 [S2] and KDB생명 [S8] print in their 상품요약서. The two rates are sourced; taking their mean is the standardization. They differ by up to 24% — 18%–24% at five of the six published cells and not at all at 여 20세, where both print 0.00018 — so they bracket rather than fix a Korean insured mortality level.

CONSTRUCTED rows below age 60 are log-linear in ln q between those anchors, and above age 60 follow a Gompertz in ln q with a quadratic deceleration term whose two parameters are solved so that the table’s 65세 기대여명 is 23.7 years (male) and 27.1 (female) — the 국가데이터처 완전생명표 figures of 19.5 and 23.7 [REG-R38] plus the gap to the reported 제10회 경험생명표 figures [REG-R33] — and so that q reaches 1 at the standardized terminal age ω = 115.

The TERMINAL row sets q = 1 at ω = 115, which closes the table. The 제10회 terminal age is not public either.

Two independent checks on the construction are worth recording because neither was used to fit it. The resulting 평균수명 at birth is 85.4 years (male) and 90.4 (female) against the 86.3 and 90.7 reported for the 제10회 [REG-R33]; and the age-40 male rate of 0.00085 sits between the two disclosed carrier rates by construction while the age-60 female rate of 0.001935 reproduces the same bracket. No row of this file is a 경험생명표 value and the table must never be presented as one. One conversion is stated rather than performed: the public statistics behind the calibration are on 만나이 while this product rates on 보험나이, and no public mapping between the two exists.

The lapse file is a standardization end to end. lapse_table.csv holds the two bases the November 2024 계리가정 decision puts side by side — the log-linear 원칙모형 converging on 0.1% at 납입완료 with an 0.8% ultimate rate [REG-R27], and a level comparison basis — as three parameters each rather than a rate per policy year, because the convergence point is 납입완료 and that is a model point attribute rather than a fixed duration. The expense, commission and interest levels are Projection References rather than a table, because each is a single scalar.

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.

Indexed by point_id. Point 1 is the technical notes’ worked-example anchor cell — 남자, 보험나이 40세, 보험가입금액 1억원, 종신, 20년납, 저해지환급형 k = 0.50 — and the other nine exercise the product’s variants, its optional modules and the edges of its issue-age and sum-assured envelopes.

mort_table()

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

A [std] construction anchored on the two carriers’ disclosed 적용위험률 grids [S2] [S8] and calibrated to the insured 65세 기대여명 implied by [REG-R38] and [REG-R33]; not the 제10회 경험생명표, which is not published in full. See the Space docstring. The rate is a death rate alone: Korea puts no 고도장해 benefit on this chassis, so a projection using it must not add a disability decrement — the disability trigger on a Korean 종신보험 waives the premium instead, and that is a separate state.

lapse_table()

The lapse-rate parameters by basis, from lapse_table.csv.

Two rows, indexed by lapse_basis. loglinear is the FSS 원칙모형 of the November 2024 계리가정 decision — a log-linear decay from a first-year rate to 0.1% at 납입완료, then an 0.8% ultimate rate [REG-R27]. flat is the level comparison basis the same guidance obliges an insurer to disclose against it. The columns are parameters rather than a rate per policy year because the convergence point is 납입완료, which differs by model point.