Sources#

Source ids [S#] and [R#] are carried verbatim from _research/whole-life.md — the citation ground truth for this product — and are frozen: never renumber them. Access date for every entry: 2026-09-03. No sources were newly added at drafting.

Three tag families, and they mean different things here.

  • [S#] — primary product sources. A 약관 (yakgwan, policy conditions), a 상품요약서 (sangpum yoyakseo, the statutory product summary), a 상품안내장 / 보험안내자료 (brochure) or a published rate disclosure, issued by a named carrier or by an industry disclosure portal. These are the documents that establish what the contract does. They render as bracketed text, never as links.

  • [R#] — regulatory and actuarial references specific to this product, numbered in the same per-product sequence: FSC and FSS 보도자료, 보험연구원 research, and the two law-portal and two statistical endpoints this product’s research pass tried. They render as links.

  • [REG-R#] — the cross-product reference library, references/regulatory-and-actuarial-references.md, whose R1–R62 numbering is a separate frozen sequence and has nothing to do with the R-numbers on this page. [R3] and [REG-R3] are different documents. The entries this product cites are reprinted in short form at the end of this file so that a reader of this page alone can resolve them.

Numbering is per product. S1 means a different source in each product’s sources.md, and this file’s R1 is not term_life’s R1.

Gaps in the numbering, and why. Unused sources are omitted, so the sequence has holes. S14 (손해보험협회 「보험계약대출금리」 비교공시) was retrieved and is a good bound on the Korean policy-loan market, but it covers non-life insurers, so nothing in a 생명보험 종신보험 specification may rest on it and nothing does. S19 (한화생명 상품공시실 「적용이율」) returned no rate data at all and establishes nothing. R5 is the FSC’s 2019-08-01 사업비·모집수수료 reform release; the cross-product library holds the same document at REG-R29 and the product documents cite it there, so the per-product number is unused. R10 and R11 are the 국가법령정보센터 pages for 보험업감독규정 and 보험업감독업무시행세칙, both of which returned only site chrome in this product’s own research pass — the article body loads into an inner frame. The cross-product research pass later retrieved both in full, so every 감독규정 and 시행세칙 fact in this product’s documents is cited to REG-R9, REG-R18, REG-R19, REG-R20, REG-R21, REG-R22, REG-R23 and REG-R25 rather than to the unretrieved per-product entries. That is a strict improvement in provenance, and it is the reason those two numbers are absent below rather than present and empty.

Read the Retrieved: line before relying on the entry above it. Retrieved: yes means the document was opened and the passage the entry rests on was read; a Korean sentence quoted in such an entry is quoted from the document. in part and no leave the entry a pointer, not a certificate, and every claim resting on one is tagged unverified where it matters.

Company and branded product names appear in this file and in _research/whole-life.md and nowhere else in the library. In product-spec.md, technical-notes.md, model.md and the model docstrings a carrier is referred to by its [S#] tag alone.

Coverage. Seventeen primary sources are cited, of which thirteen are Retrieved: yes and four in part; ten product-specific regulatory references, of which nine are Retrieved: yes and one in part. Eleven carriers appear in the cited set, plus two industry disclosure portals. Five carriers publish complete numeric surrender-value grids for both the suppressed form and its non-marketed comparison twin [S1] [S2] [S4] [S6] [S8], which is what makes this product’s signature mechanic measurable rather than described; two publish the pricing interest rate, sample mortality rates and the pricing lapse assumption in the 상품요약서 [S2] [S8], a level of disclosure with no counterpart in jplib, uklib or delib. Against that, exactly one full 약관 was retrieved [S5], and it is a 유니버셜 contract rather than a conventional level-premium one.

Primary product sources#

S1 — 「Chubb 더하고 채우는 종신보험 무배당 (해지환급금 일부지급형)」, 처브라이프생명보험 주식회사 (상품안내장 — product brochure with premium and surrender-value tables)#

  • Document: 4-page 상품안내장, product_brochure_S1_AW21.pdf; footer 「2022 MKT-105 / 2022.04.01 / 준법감시인 심의필 제2022-105호」; the premium page is headed 「2022년 4월 계정」

  • URL: https://www.chubblife.co.kr/assets/product_brochure_S1_AW21.pdf

  • Accessed: 2026-09-03. Retrieved: yes (PDF downloaded, 4 pp.; a plain text dump scrambles the 환급률 chart on p.1, which was recovered by positional word extraction with PyMuPDF)

  • What it establishes. A side-by-side 해지환급금 예시표 for the 해지환급금 일부지급형 against the non-marketed 표준형 twin at eight durations, with both premium scales; the 50% suppression factor; a disclosed 예정이율 연복리 2.3%; a premium grid by age and sex; a 체증형 death benefit; 추가납입 and 추가계약자적립금 인출 mechanics; a 1.5% volume discount at 가입금액 ≥ 3,000만원; and a 보험료납입면제특약.

  • What rests on it. The sentence the whole suppression mechanic turns on — 「”표준형”의 경우는 … 동일한 보장내용으로 해지율을 적용하지 않고 … 계산된 상품이며 … 비교안내를 위한 종목으로 실제로 판매하지 않습니다」 — quoted in product-spec.md, technical-notes.md and model.md, and the reason the model runs one account and multiplies the twin rather than the sold form. Also the k = 0.50 composite, the 0.900 premium ratio standardized onto model point 1, the lower end of the 2.25%–2.75% 예정이율 band, and the equality of the suppressed and 표준형 values from 납입완료 that check_cv_cliff() asserts.

S2 — 「무배당 하나로 연결된 든든한 종신보험(해지환급금 일부지급형)」 상품요약서, 하나생명보험 주식회사 (상품요약서 — the statutory summary of the 기초서류)#

  • Document: 10-page 상품요약서

  • URL: https://www.hanalife.co.kr/home/download2.do?fileName=PROD%2F%28%EB%AC%B4%29%ED%95%98%EB%82%98%EB%A1%9C%EC%97%B0%EA%B2%B0%EB%90%9C%EB%93%A0%EB%93%A0%ED%95%9C%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98%28%ED%95%B4%EC%A7%80%ED%99%98%EA%B8%89%EA%B8%88+%EC%9D%BC%EB%B6%80%EC%A7%80%EA%B8%89%ED%98%95%29_%EC%83%81%ED%92%88%EC%9A%94%EC%95%BD%EC%84%9C.pdf

  • Accessed: 2026-09-03. Retrieved: yes (served with Content-Type: application/x-msdownload; the bytes are a 10-page PDF and extract cleanly with PyMuPDF)

  • What it establishes. The single most complete disclosure in the set: a formula-based 해지환급률 (0% / 10% + 90% × 납입횟수/84 / 100%) whose cliff is at seven years and not at 납입완료; a disclosed 적용이율 연복리 2.25%; disclosed 적용위험률 (사망률) at ages 20 / 40 / 60 by sex; a disclosed 적용해지율 of 연 1%~10% together with the explicit statement that the 일반형 comparison product carries none; full 해지환급금 예시표 for both sexes at fourteen durations for both forms; the 보험가격지수 (85.4% 남 / 86.2% 여); the 납입면제 trigger and its deemed-paid rule; and a 연금전환특약 with a 최저보증이율 ladder.

  • What rests on it. Half of every ANCHOR row of mort_table.csv — the male age-40 rate of 0.000780 and the female and age-20/60 counterparts, meaned with [S8]; the 10% first-year rate of the loglinear lapse basis, as the top of a disclosed pricing envelope; the post-IFRS 17 surrender identity 「계약자적립액에서 미상각신계약비를 공제한 금액」 read against the pre-2023 wording; the 2.25% end of the 예정이율 band; the 납입면제 deemed-paid rule the waiver state implements; and the record, in the standardizations table, that where the cliff falls is not universal.

S3 — 「KB,시니어[약:속]종신보험 무배당 (해약환급금 과소지급형)」 상품안내장, KB라이프생명보험 주식회사 (상품안내장 — product brochure)#

  • Document: 16-page 상품안내장; 「준법감시인확인필-SM-2212368-1(2022.12.29~2023.12.28)」

  • URL: https://www.kblife.co.kr/api/archive/archives/download/product-onelibrary/1228983/44

  • Accessed: 2026-09-03. Retrieved: yes (PDF downloaded, 16 pp., text extracted and read)

  • What it establishes. A third, arithmetically different suppression design — the surrender value is a straight-line fraction of premiums paid, 납입보험료 누계 × 경과개월수 / ((납입기간+3년)×12), nil in year 1 and capped at 100% at 납입기간 + 3년; a senior-market issue-age envelope (54–72 male); a 2형(Light형) with a reduced non-accident death benefit; the 납입면제 waiver and its “premiums deemed paid” rule; three 연금전환특약; 선납 discounted at the 평균공시이율; and a 2-year suicide exclusion.

  • What rests on it. The second of the two cliff-date counter-examples recorded in model.md’s standardizations table, which is why a model reproducing another carrier must expose the cliff date as a parameter; the deemed-paid waiver rule, corroborated with [S2] and [S8]; and the 표준형-comparison sentence, corroborating [S1].

S4 — 「무배당 알차고 행복한 종신보험(저해지환급형)(1607)」 상품안내장, DB생명보험 주식회사 (상품안내장 — product brochure with premium and surrender-value grids)#

  • Document: 5-page 상품안내장

  • URL: https://www.idblife.com/notice/product/file/A020100001.pdf?fileName=DB%EC%83%9D%EB%AA%85-%EB%AC%B4%EB%B0%B0%EB%8B%B9+%EC%95%8C%EC%B0%A8%EA%B3%A0+%ED%96%89%EB%B3%B5%ED%95%9C+%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98(%EC%A0%80%ED%95%B4%EC%A7%80%ED%99%98%EA%B8%89%ED%98%95(1607(A020100001-%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98.pdf

  • Accessed: 2026-09-03. Retrieved: yes (served as application/octet-stream, 3.6 MB; a 5-page PDF; both surrender-value grids re-checked by positional word extraction)

  • What it establishes. The only 30% suppression factor in the set, stated in the 유의사항 as 「1형(표준형) 해지환급금의 30%에 해당하는 금액」; two complete 해지환급금 예시 grids (1종 기본형 and 2종 실속형) at eight durations each, for both forms; a premium grid by age, sex and form; the 납입기간 menu (5/7/10/15/20/25/30년납 and 50/55/60/65/70세납); a 전환나이 design in which the death benefit steps at 55/60/65/70; and the phrase 「사업비(미상각신계약비(해지공제액) 포함)」 naming the deduction.

  • What rests on it. The anchor cell’s premium. ₩3,084,600 is 12 × the published ₩257,050 monthly rate for exactly 남 40세 / 1억원 / 20년납, which prices point_id = 2, and the anchor is 0.900 of it. prem_loading = 1.4642 is calibrated once against that number and applied unchanged everywhere. On the monthly grid that rate is collected directly: the twin’s premium_mth_pp() is exactly ₩257,050. Also the k = 0.30 model point, and the 0.899–0.923 calibration band of cv_std_pp(12y) against this carrier’s printed 표준형 grid at durations 3 to 20 — the one external check on the model’s whole value construction, which the monthly account improves at every sourced duration. The grid’s widening past duration 20 has a stated cause in this document (the 전환나이 step-up) and is recorded rather than tuned away.

S5 — 「희망드림 무배당 KDB유니버셜종신보험(보증비용부과형) 해지환급금 보증형」 보험약관, KDB생명보험 주식회사 (약관 — policy conditions; the only full 약관 retrieved)#

  • Document: 60-page 보험약관 with 부표 1–3 and 용어의 정의; 판매일자 2021.05.01; file I40204_20210501_..._약관_V03.pdf

  • URL: https://www.kdblife.com/nKumhoFiles/data_pdf/product/2021/I40204_20210501_%ED%9D%AC%EB%A7%9D%EB%93%9C%EB%A6%BC(%EB%AC%B4)KDB%EC%9C%A0%EB%8B%88%EB%B2%84%EC%85%9C%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98(%EB%B3%B4%EC%A6%9D%EB%B9%84%EC%9A%A9%EB%B6%80%EA%B3%BC%ED%98%95)%ED%95%B4%EC%A7%80%ED%99%98%EA%B8%89%EA%B8%88%EB%B3%B4%EC%A6%9D%ED%98%95_%EC%95%BD%EA%B4%80_V03.pdf

  • Accessed: 2026-09-03. Retrieved: yes (1.6 MB PDF, 60 pp., text extracted cleanly and the articles read in full)

  • What it establishes. Articles 1–44 verbatim: 제20조(계약내용의 변경 등) with the 감액 formulas and worked examples; 제21조(보험나이 등) with the six-month rule and two worked examples; 제24조 and 제25조(납입최고와 계약의 해지) with the 14-day 납입최고기간; 제26조(부활) with a three-year window; 제31조(해지환급금); 제32조(공시이율의 적용 및 공시) with the 신공시기준이율 mechanism and a 최저보증이율 연복리 0.75%; 제33조(중도인출); 제34조(보험계약대출); and the 용어의 정의 giving 예정적립금 (at 적용이율 연복리 2.3%), 계약자적립금, 월대체보험료, 부가보험료 and 해지공제액.

  • What rests on it. min_guar_rate = 0.75% on the 금리연동형 model point, stated verbatim and not standardized; the policy-loan article behind the 80% limit; 감액 as a partial surrender paying the 해약환급금 attaching to the reduced portion, which is what makes claims_reduction a benefit column rather than a negative premium; the three-year 부활 window and the 「해지환급금이 없는 경우를 포함」 parenthesis that makes a 무해지 contract always reinstatable; and — as negative evidence — the absence of any 자동대출납입, 감액완납 or 연장정기보험 article, which is why all three are unverified absences in this library rather than modelled mechanics. Caveat that must travel with every citation: this is a 유니버셜 contract, so 제24조’s payment holidays and 제25조’s 월대체보험료-driven lapse trigger belong to that chassis and not to the conventional level-premium composite. The chassis-independent articles (보험나이, 부활, 감액, 보험계약대출) are used; the rest are labelled where they appear.

S6 — 「(무)ABL건강하면THE소중한종신보험(해약환급금 일부지급형)2504」 상품안내장, ABL생명보험 주식회사 (상품안내장 — product brochure)#

  • Document: 20-page 상품안내장; 「준법감시인 심의필 제2025-PA349호 (2025.09.29~2026.09.28)」

  • URL: https://www.abllife.co.kr/cms/prdt/wlifeFprd/_icsFiles/afieldfile/2025/09/29/(%EB%AC%B4)ABL%EA%B1%B4%EA%B0%95%ED%95%98%EB%A9%B4THE%EC%86%8C%EC%A4%91%ED%95%9C%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98(%ED%95%B4%EC%95%BD%ED%99%98%EA%B8%89%EA%B8%88%EC%9D%BC%EB%B6%80%EC%A7%80%EA%B8%89%ED%98%95)2504_20251001.pdf

  • Accessed: 2026-09-03. Retrieved: yes (1.3 MB PDF, 20 pp., text extracted and read)

  • What it establishes. The most recent product in the set (October 2025): a 50% 일부지급형 with three 종 — 1종(평준형), 2종(체감형) and 3종(체증형) — each with its own surrender-value grid and premium scale; a 건강등급 premium discount of up to 8% on the 주계약, recomputed annually; a 생활설계자금 drawdown that reduces the sum assured automatically; issue ages 만15세~70세 and 납입기간 5/7/10/15/20년납; the 납입면제 trigger at a 50% 장해지급률; and the 2025 평균공시이율 quoted in-document as 연복리 2.75%.

  • What rests on it. That the 평준형 level death benefit is the right composite shape when three shapes are on sale; the k = 0.50 factor, corroborating [S1] and [S7]; the 50% 장해지급률 waiver trigger, corroborating [S2] and [S8]; the issue-age and payment-term envelopes of the shipped model points; and the equality of the suppressed and 표준형 values from 납입완료.

S7 — 「삼성 더행복종신보험(2309)(무배당) [5년이후사망보험금100%형]」 상품안내장, 삼성생명보험 주식회사 (상품안내장 — product brochure, distributor-hosted copy)#

  • Document: 4-page 상품안내장; 「준법감시필 23-1888(FC지원팀, 2023.08.29 ~ 2024.08.28)」; 발행일자 2023년 09월 04일

  • URL: https://assets-global.website-files.com/638be8b99d4abb0bb101827b/64f9397cb1f729afb6cf4e2a_%EB%8D%94%ED%96%89%EB%B3%B5%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98(2309)(%EB%AC%B4%EB%B0%B0%EB%8B%B9)(5%EB%85%84%EC%9D%B4%ED%9B%84%EC%82%AC%EB%A7%9D%EB%B3%B4%ED%97%98100%25%ED%98%95,%EC%A0%80%ED%95%B4%EC%95%BD%ED%99%98%EA%B8%89%EA%B8%88%ED%98%95).pdf

  • Accessed: 2026-09-03. Retrieved: yes (PDF downloaded, 4 pp.; the 유지보너스 rate table recovered by positional extraction)

  • What it establishes. The 단기납 저해약환급금형 design that dominated Korean life sales in 2023–24: 5년납 / 7년납, a 유지보너스 (persistency bonus) credited to the 계약자적립액 at 납입완료 at published rates, and a surrender-value grid running to 환급률 206.7% at duration 50; 보험기간 이원화 (a reduced disease-death benefit for the first five years); a disclosed 해약환급금 적용이율 of 연복리 2.25% for the first ten years and 1.75% thereafter; and a 사망보험금 연금선지급 전환제도.

  • What rests on it. bonus_rate = 0.138 and the 7년납 payment term on point_id = 8, which together with the mandatory 30-point lapse spike of REG-R27 is the only place in the library where a bonus and its supervisory counterweight are wired to each other. Also the 2.25% end of the 예정이율 band. Weight it accordingly: this is a distributor-hosted copy on a Webflow CDN, complete with an individual consultant’s contact details in the footer, rather than a 삼성생명 URL. It carries a 준법감시필 number and a 발행일자 and is on its face a compliance-approved 보험안내자료, but no carrier-hosted original was found.

S8 — 「무배당 우리가바라던 종신보험」 상품요약서, KDB생명보험 주식회사 (상품요약서)#

  • Document: 7-page 상품요약서; 판매일자 2024.01.01; file I40414_20240101_(무)우리가바라던종신보험_상품요약서_V02.pdf

  • URL: https://www.kdblife.com/nKumhoFiles/data_pdf/product/2024/I40414_20240101_(%EB%AC%B4)%EC%9A%B0%EB%A6%AC%EA%B0%80%EB%B0%94%EB%9D%BC%EB%8D%98%EC%A2%85%EC%8B%A0%EB%B3%B4%ED%97%98_%EC%83%81%ED%92%88%EC%9A%94%EC%95%BD%EC%84%9C_V02.pdf

  • Accessed: 2026-09-03. Retrieved: yes (139 KB PDF, 7 pp., text extracted and read in full)

  • What it establishes. The fully nil form (해약환급금 미지급형Ⅳ) — zero surrender value for the whole of a 20-year payment period, then 이미 납입한 보험료 × max(기준상품 해약환급률, 100%); a disclosed 적용이율 연복리 2.75% (금리확정형); disclosed 예정 경험사망률 at ages 20 / 40 / 60 by sex; the sharpest single number in the set, a disclosed 적용해약률 of 연 0%~13.4% during the payment period and 연 1.0%~11.3% after it; the statement that 해약환급금 = 계약자적립액 − 미상각신계약비; 보험가격지수 110.3% / 110.9%; and full 해약환급금 예시 grids to duration 60 for two variants and both sexes.

  • What rests on it. The other half of every ANCHOR row of mort_table.csv — the male age-40 rate of 0.00092 and its age-20/60 and female counterparts, meaned with [S2], the two differing by up to 24% — at five of the six published cells, and not at all at 여 20세, where both print 0.00018 — so that they bracket rather than fix a Korean insured mortality level. Also k = 0.00 on point_id = 3, the 무해지 point at which the policy loan draws exactly nothing; the wider of the two disclosed lapse envelopes, inside which the loglinear first-year rate sits; the 2.75% top of the 예정이율 band; and the post-IFRS 17 surrender identity read against the pre-2023 wording.

S9 — 「적용이율 공시 — 보험계약대출이율」, 하나생명보험 주식회사 (published rate disclosure, company web page)#

  • URL: https://www.hanalife.co.kr/anm/interestRate/interestRate_tab3_6.do

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200, server-rendered table read)

  • What it establishes. The 보험계약대출이율 formula banded by contract date — 「적용이율 + 1.5%」 (금리확정형) / 「공시이율 + 1.5%」 (금리연동형) from 2013-04-01, and 「예정이율 + 2%」 for 2010-10-01~2012-03-31 — and the floor rule that a 금리연동형 loan is priced off the 최저보증이율 when the 공시이율 falls below it.

  • What rests on it. loan_spread = 0.015 and the definition loan_int_rate() = acc_int_rate() + 1.5%, which is 예정이율 + 1.5% on a 금리확정형 contract and 공시이율 + 1.5% on a 금리연동형 one. The date banding is the first of three independent statements that the Korean policy loan rate is a vintage rate.

S10 — 「적용이율 공시 — 표준이율 및 평균공시이율」, 하나생명보험 주식회사 (published rate disclosure, company web page)#

  • URL: https://www.hanalife.co.kr/anm/interestRate/interestRate_tab6.do

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. The 평균공시이율 series 2016–2026, and the 표준이율 series for its last three years before it was superseded. This is the single citable time series of the Korean average declared rate found in this session, and it records the fall to 2.50% for 2026, the first since 2020.

  • What rests on it. The cross-check that the std 예정이율 of 2.50% equals the 2026 평균공시이율, which is the regulatory reference rate a product design is tested against REG-R16 REG-R48. The same series is reprinted in the cross-product library.

S11 — 「보험계약대출」 상품안내, 교보생명보험 주식회사 (product page, company web site)#

  • URL: https://www.kyobo.com/dgt/web/insurance/policy-loan/PCLN_ALL_INTRO

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. 확정형 「예정이율 + 1.40 ~ 1.50%(변동가능)」 and 연동형 「공시이율 …

    • 1.50%」; a published live rate range of 연 3.5% ~ 10.5% across the in-force book; the loan limit 「해약환급금의 50% ~ 85%」; a −0.10%p concession from 2025-11-27 on contracts whose 예정이율 is 7% or more; no early-repayment fee; and a loan term running to the contract’s 만기일.

  • What rests on it. The wider of the two published loan-limit ranges, inside which the composite’s 80% sits; the 3.5%–10.5% spread that demonstrates the vintage-rate point in numbers; and the no-fee repayment right, which is why modelling no repayment at all is a named std simplification rather than an oversight.

S12 — 「보험계약대출이율」 공시, AIA생명보험 주식회사 (published rate disclosure, company web page)#

  • URL: https://www.aia.co.kr/ko/disclosure/our-products/interest-rate/policy-loan.html

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. A complete historical 가산금리 schedule by contract-date band, from 2003 to the present, with the 최고 적용 대출이율 cap at each band.

  • What rests on it. The clearest evidence in the set that the Korean policy loan rate is a vintage rate and not a market rate, and the 9.90% ceiling quoted in model.md. Nothing numeric in the projection depends on it; it bounds the rate the module uses.

S13 — 「보험계약대출」, 신한라이프생명보험 주식회사 (product page, company web site)#

  • URL: https://www.shinhanlife.co.kr/hp/cdhc0020.do

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. 「예정이율 + 가산금리(1.5%)」 / 「공시이율 + 가산금리(1.5%)」; the loan limit 「해약환급금의 **50 ~ 80%**이내」; no early-repayment fee; and a 0.1% concession for insureds aged 65+ on contracts with a 예정이율 of 5.5% or more.

  • What rests on it. loan_limit = 0.80, taken as the top of the narrower of the two published ranges and inside the wider one [S11]; and the third independent statement of the +1.5% spread, which is what makes loan_spread a sourced parameter rather than a std one.

S15 — 「공시기준이율 적용현황」, 교보생명보험 주식회사 (published rate disclosure, company web page)#

  • URL: https://www.kyobo.com/dgt/web/disclosure/interest-rate-disclosure/status

  • Accessed: 2026-09-03. Retrieved: in part (WebFetch, HTTP 200; the page returned its default query result — 공시기준이율 3.19 / 적용률 3.19 / 적용이율 3.19 across 보장(무배당), 연금(무배당), 연금(배당), 저축(무배당) and 연금저축(배당) — but no as-of month rendered, because the month is a form selection the fetch did not make)

  • What it establishes. That 적용공시이율 = 공시기준이율 adjusted by a 조정률, confirmed in the page’s own methodology text. The three numeric figures have no date and are recorded as undated.

  • What rests on it. Only the description of the 공시이율 mechanism in product-spec.md. Nothing in the model. The 금리연동형 model point’s declared rate is a model point column set to 2.75% std, not this figure.

S16 — 생명보험협회 공시실, 생명보험협회 (industry disclosure portal)#

  • URL: https://pub.insure.or.kr/

  • Accessed: 2026-09-03. Retrieved: in part (WebFetch, HTTP 200; the navigation renders — 상품제도 및 개요 / 상품비교공시 / 저축성 요약공시 / 경영공시 / 대출공시 / 기타공시, and the path 상품비교공시 → 보장성보험 → 종신보험 — but every comparison table opens through javascript:void(0) and no product rows were obtained)

  • What it establishes. Structure only. The house brief calls this portal the best single source of quantitative Korean product data; it is, and it was not opened.

  • What rests on it. Nothing quantitative. It is cited as negative evidence for the statement that the cross-carrier premium, 해지환급금 and 사업비 comparisons this product would otherwise use were not obtained, so that everything numeric comes from individual carriers’ own PDFs instead.

S17 — 「종신보험」 비교공시, 손해보험협회 e-보험시장 (industry comparison disclosure)#

  • URL: https://www.e-insmarket.or.kr/wholeIns/wholeInsList.knia

  • Accessed: 2026-09-03. Retrieved: in part (WebFetch, HTTP 200; the comparison basis rendered but the product table returned 「해당 상품이 없습니다」)

  • What it establishes. The standard comparison basis Korean industry disclosure uses for 종신보험: 보험가입금액 1억원, 종신, 20년납, 월납.

  • What rests on it. The choice of the anchor cell. point_id = 1 is that basis exactly, so the worked example is stated on the cell a Korean reader would compare products on. The document came through the 손해보험협회 portal and is attributed there, not to 생명보험협회; the cross-product library records the same portal at REG-R62, which this product does not otherwise cite.

S18 — 「종신/정기보험」 상품안내, 한화생명보험 주식회사 (product page, company web site)#

  • URL: https://www.hanwhalife.com/main/insurance/product/IN_SM00000_P30000.do

  • Accessed: 2026-09-03. Retrieved: in part (WebFetch, HTTP 200; the product guide rendered but no premium, 환급률 or issue-age figures)

  • What it establishes. The 종 menu for one 종신보험 — 1종(체증형) with 보험기간 80/85/90/95세만기 and 2종(기본형) with 60/70/80/90/95세만기 — and a 납입기간 menu including 3년납.

  • What rests on it. The payment-term envelope in product-spec.md, and nothing else. No quantitative parameter of the model depends on it.

Regulatory and actuarial references#

R1 — 「무(저)해지환급금 보험의 상품 구조를 개선하고, 보험약관 …」 (2020-11-18), 금융위원회 (보도자료 announcing the 보험업감독규정 amendment)#

  • URL: https://fsc.go.kr/no010101/74613

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. The amendment effective 2020-11-19 restricting products whose surrender value during the payment period is nil or under 50% of the 표준형, so that they must be designed 「전(全) 보험기간 동안 표준형 보험의 환급률(기납입보험료대비) 이내로」; and a worked numeric comparison on a 종신보험 (20년납, 1,000만원, 남 40세) of 표준형 against the 무해지 form before and after the amendment, the post-amendment design showing 62.2%.

  • What rests on it. The press release’s framing of the 환급률 restriction, which product-spec.md records beside the 고시’s own 제7-66조제4항제2호나목 wording REG-R19 because the two readings differ and neither is resolved here. check_cv_cliff() asserts the value test that both readings share and asserts neither ratio form.

R2 — 「높은 환급률만을 강조하며 판매되는 무(저)해지환급금 보험 …」 (2020-07-27), 금융위원회 (보도자료 — 보험업감독규정 개정안 입법예고)#

  • URL: https://www.fsc.go.kr/no010101/74468

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. The market count at that date — 20 life insurers and 11 non-life insurers selling the form as a main line, against four and three not selling it — the mis-selling concern 「저축성보험처럼 환급률만을 강조하며 판매」, and the shape of the restriction later enacted as R1.

  • What rests on it. The market-context paragraphs of product-spec.md establishing that the suppressed form is the mainstream and not a niche, which is the justification for making it a model point column on the chassis rather than a separate model.

R3 — 「합리적인 계리가정과 단계적 할인율 조정을 …」 (2024-11-07), 금융위원회·금융감독원, 제4차 보험개혁회의 (보도자료)#

  • URL: https://www.fsc.go.kr/no010101/83351

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. The 2024 supervisory intervention on the 무·저해지 lapse assumption: the log-linear model designated the 원칙모형 with the lapse rate converging to 0.1% at 납입완료; the post-완납 rate set at 0.8% or a 20% relative to the 표준형 product’s rate; the strict conditions on using a non-principle model; a minimum 30% additional lapse at a bonus payment point on 단기납 종신; and the discount-curve last-observable-maturity extension. Effective from the 2024 year-end close.

  • What rests on it. Both endpoints of the loglinear row of lapse_table.csv and lapse_bonus_spike = 0.30. The same decision is entry REG-R27 in the cross-product library, where the retrieval is of the 보도자료 PDF and its 별첨; the product documents cite REG-R27 for the instrument and R3 alongside it where the per-product research is what established the point. Instrument-level gap: the 「IFRS17 주요 계리가정 가이드라인」 attachment was never converted from HWP, so the values are verified from the 보도자료 and the guideline’s functional form is unverified.

R4 — 「저해지환급금 보험상품에 대해 소비자 경보 발령」 (2019-10-23), 금융감독원 보험과 (소비자경보, published on the FSC site)#

  • URL: https://www.fsc.go.kr/no010101/73932

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200)

  • What it establishes. The sales-start dates — life insurers from July 2015, non-life from July 2016 — about 4 million contracts written to March 2019; the warning that the form is a 보장성보험 and unsuitable for savings; and the operationally important point that a 무해지환급금 contract cannot support a policy loan during the payment period.

  • What rests on it. point_id = 3, where loan_util = 1.0 and loan_draw(10) is exactly ₩0.00 because there is no payable value to lend against. That is this alert reproduced as arithmetic, and it is the single clearest demonstration in the model that the loan limit must be computed off cv_pp and never off cv_std_pp.

R6 — 「소비자보호를 위한 보험상품 사업비 및 모집수수료 개선」 (2019-04), 보험연구원 정원석 (research presentation, 사업비 및 모집수수료 부가체계 공청회)#

  • Document: 27-slide presentation, KIRI_20190416_144027.pdf

  • URL: https://www.kiri.or.kr/pdf/전문자료/KIRI_20190416_144027.pdf

  • Accessed: 2026-09-03. Retrieved: yes (938 KB PDF, 27 pp., text extracted and read)

  • What it establishes. The 표준해약공제액 formula, by product class, with a worked arithmetic example; the framing of the surrender value as 적립금 less unrecovered 사업비 bounded by the 표준해약공제액; and a 장기보장성보험 surrender-value example table.

  • What rests on it. The definition of 해약공제액 as 미상각신계약비 capped by the 표준해약공제액, corroborating the 약관 wording at [S5 제2조] and [S8], and the independent reading of the 별표 14 formula that surr_chg_cap_pp() implements. The instrument itself is REG-R20; this entry is the actuarial reading of it. The same presentation is REG-R37 in the cross-product library.

R7 — 「보험개혁회의 내용과 과제: 건전성 제도」 (2025-04), 보험연구원 노건엽·이승주, CEO Report 03호 (research report)#

  • Document: 24-page report

  • URL: https://www.kiri.or.kr/report/downloadFile.do?docId=671389

  • Accessed: 2026-09-03. Retrieved: yes (594 KB PDF, 24 pp., text extracted and read)

  • What it establishes. The 무·저해지 보장성 초회보험료 share time series (2018 / 2021 / 2023, at 11.4 / 30.4 / 47.0 per cent); a restatement of the R3 lapse guidance with the exact model names; the K-ICS 대량해지위험 shock table for 표준형 and 저해지환급형, sourced in the report to 보험업감독업무시행세칙 [별표 22]; and the 해약환급금준비금 figures with the K-ICS-linked accumulation-ratio schedule for 2024–2029 set out in the 감독규정 부칙.

  • What rests on it. The 대량해지위험 discussion in technical-notes.md, in particular that the shock splits by whether surrender reduces or increases net assets — which is why the flat lapse basis producing a better undiscounted total is a trap and not a finding. 별표 22 itself was not retrieved REG-R26, so everything about the shock, including the 고환급형 test, is second-hand through this report and carries unverified. That matters most to exactly this product. The same report is REG-R36 in the cross-product library.

R8 — 「Ⅲ. 종신보험의 성장」, 보험연구원, 연구보고서 2018-5 (research report chapter — product history)#

  • Document: 28-page chapter, nre2018-05_03.pdf

  • URL: https://www.kiri.or.kr/pdf/연구자료/연구보고서/nre2018-05_03.pdf

  • Accessed: 2026-09-03. Retrieved: yes (858 KB PDF, 28 pp., text extracted and read)

  • What it establishes. The market history of 종신보험 in Korea — the 1959 attempt, the 1990s false starts, the Life Planner channel breakthrough and the 1999 entry of the largest life insurer; a table of 종신보험 new business by carrier 2001–2009 sourced to 금융감독원 금융통계정보시스템; the evolution sequence 변액종신 (2001) → CI 선지급 종신 (2002) → 유니버셜 종신 (2004); and a taxonomy table of the six Korean whole life shapes.

  • What rests on it. The scope decisions of the composite: which of the six shapes the reference product is (무배당, 금리확정형, 평준형) and which four are named and excluded, and the statement that this product is the chassis CI_KR_S and Pension_KR_S inherit.

R9 — 「2025년 보험산업 전망」 (2024-10-10), 보험연구원 황인창, 보험산업 전망과 과제 세미나 (research presentation)#

  • Document: 78-slide presentation, smn_20241010.pdf

  • URL: https://www.kiri.or.kr/pdf/전문자료/smn_20241010.pdf

  • Accessed: 2026-09-03. Retrieved: yes (2.1 MB PDF, 78 pp.; the Korean text extracts without inter-word spaces, a font-encoding artefact, so quotations are re-spaced and marked as such at the point of use)

  • What it establishes. 보장성보험 수입보험료 2020–2024H1; the observation that 단기납 종신 sales rose in 2024 Q1 and then tapered while 무·저해지환급형 건강보험 kept growing; a monthly 초회보험료 chart for 무·저해지환급형 종신보험; and a forecast of a 9.2% industry-wide 초회보험료 decline for 2025.

  • What rests on it. One sentence of market context in product-spec.md. The direction of the 단기납 종신 episode is sourced here; the specific carrier and 환급률 percentages circulating in the trade press are unverified and are marked so.

R12 — 보도자료 목록, 보험개발원 (press-release index page)#

  • URL: https://www.kidi.or.kr/user/nd11592.do

  • Accessed: 2026-09-03. Retrieved: yes (WebFetch, HTTP 200; the ten most recent items listed, 2026-01 to 2026-08)

  • What it establishes. Negative evidence, which is why it is numbered. No 경험생명표 item appears in the current listing and no archive or search endpoint was reached, so the 제10회 경험생명표 was not sourced at all in this product’s research pass.

  • What rests on it. The house position, stated in product-spec.md, in the Data Space docstring and in every provenance cell of mort_table.csv, that the table is not published in full and that the shipped file is therefore a std construction anchored on two carriers’ disclosed grids [S2] [S8] and calibrated to public 완전생명표 statistics REG-R38. The cross-product library records the same finding at REG-R34.

R13 — 「금융통계월보(생명보험편)」, 생명보험협회 (industry statistics series)#

  • URL: https://www.klia.or.kr/consumer/stats/statHomSta/financeStats.do

  • Accessed: 2026-09-03. Retrieved: in part (WebFetch, HTTP 200; the table catalogue and the note that the series is produced under a 2016-11 data agreement with 금융감독원 render, but the statistical tables themselves are drawn client-side and no figure was obtained)

  • What it establishes. Structure only.

  • What rests on it. Nothing quantitative. Cited as negative evidence that no Korean industry lapse rate, 효력상실해약률 or 종신보험 신계약 series was obtained from a primary statistical source — which is why the lapse assumption is bounded above by two disclosed pricing envelopes [S2] [S8] and below by the supervisor’s valuation anchors REG-R27, with the shape between them std.

Cross-product references ([REG-R#])#

[REG-R#] tags resolve against references/regulatory-and-actuarial-references.md, the Korea reference library shared by all ten products. Its R1–R62 numbering is its own and is frozen; it is not this page’s R-numbering. Research provenance for those entries lives in _research/regulatory-actuarial.md. The entries the whole life documents cite, in short form:

  • REG-R1 — 보험업법 제2조 (정의), 제4조 (보험업의 허가): the 생명보험 / 손해보험 / 제3보험 licence split, and the 제1호가목 class this product is written under. Retrieved: yes.

  • REG-R2 — 보험업법 제5조·제127조 이하, 기초서류 (사업방법서, 보험약관, 보험료 및 해약환급금의 산출방법서): the filing the 예정이율, 적용위험률 and 예정사업비율 actually live in, and which is not public. This is why every pricing-basis parameter in this model is std. Retrieved: yes.

  • REG-R3 — 보험업법 제120조, 책임준비금 등의 적립, and its wholesale delegation to the 감독규정. Retrieved: yes.

  • REG-R4 — 보험업법 제176조, 보험요율 산출기관 (보험개발원) and the 참조순보험요율 it files. Retrieved: yes.

  • REG-R5 — 보험업법 제181조 (보험계리), 제184조 (선임계리사의 의무 등). Retrieved: yes.

  • REG-R6 — 보험업법 제108조, 특별계정 — cited for the scope boundary: this is a 일반계정 product and VA_KR_S is not. Retrieved: yes.

  • REG-R7 — 보험업법 시행령 제1조의2 (보험상품): the life list closes to 생명보험계약 and 연금보험계약, which places 종신보험 outside 제3보험. Retrieved: yes.

  • REG-R8 — 시행령 제63조·제65조·제71조: 책임준비금 restated in IFRS 17 vocabulary (보험계약부채, 발생사고요소 / 잔여보장요소) and the three K-ICS solvency quantities. Retrieved: yes.

  • REG-R9 — 보험업감독규정 (금융위원회고시 제2026-16호), the whole 고시: 제1-2조’s 참조순보험요율, the 기준연령 요건 (남자 만 40세, 전기납, 월납) and the 보장성보험 / 저축성보험 split that decides which 해약공제계수 applies. Retrieved: yes.

  • REG-R10 — 감독규정 제6-11조 등, 책임준비금 and 보증준비금: the IFRS 17 liability taxonomy, and the deletion of the old paragraphs that carried the 보험료적립금. Retrieved: yes.

  • REG-R11 — 감독규정 제6-11조의6, 해약환급금준비금: a company-level reserve with no counterpart anywhere else in this repository. Cited and never computed. Retrieved: yes.

  • REG-R12 — 감독규정 제6-11조의7, 제6-13조, 계약자배당 — cited for the 무배당 scope boundary. Retrieved: yes.

  • REG-R13 — 감독규정 제7-1조, 제7-2조, 제7-2조의2, K-ICS 지급여력 and the 건전성감독기준 balance sheet it is computed on. Retrieved: yes (the 기본요구자본 aggregation formula renders as an image and did not extract).

  • REG-R14 — 감독규정 제7-17조~제7-19조 (적기시정조치) and the 부칙 of 고시 제2022-53호, which is where K-IFRS 1117 and K-ICS both commence on 2023-01-01. Retrieved: yes.

  • REG-R16 — 감독규정 제7-60조, 생명보험의 상품설계: the 평균공시이율 accumulation test a product design is measured against. Retrieved: yes.

  • REG-R17 — 감독규정 제7-63조, 제3보험의 상품설계 — cited only for the boundary this product sits outside. Retrieved: yes.

  • REG-R18 — 감독규정 제7-64조 (산출방법서 필수기재사항), 제7-65조 (계약자적립액), including 제2항’s 「연납보험료를 기준으로 하여 산출할 수 있다」 — the permission that lets an annual grid carry a monthly-premium product’s account. Retrieved: yes.

  • REG-R19 — 감독규정 제7-66조·제7-67조·제7-69조·제7-70조, 해약환급금: the identity 「계약자적립액에서 … 해약공제액을 공제하여 계산한 금액 이상」, the 해약공제기간 capped at seven years (제1항제2호), 해약공제액 = the 별표 14 표준해약공제액 (제1항제3호), the zero floor 「이를 영(零)으로 처리한다」, and 제4항제2호나목’s post-완납 환급률 condition. Retrieved: yes (the 해약환급금 formula display and two tables render as images).

  • REG-R20 — 감독규정 [별표 14] 표준해약공제액: 연납순보험료 × 5% × 해약공제계수 + 보험가입금액 × 10/1000, with all seven notes, including the 보험기간-capped-at-20 해약공제계수 and the 20년납 recomputation of the 연납순보험료. The single most model-relevant page of Korean regulation for this product. Retrieved: yes (1-page PDF, full text).

  • REG-R21 — 감독규정 [별표 15] 보험가입금액의 산정: the 가입금액 that enters the cap is taken before any 체증 or 체감, and is the 일반사망보험금 for a 보장성보험 covering 일반사망. Retrieved: yes (1-page PDF, full text).

  • REG-R22 — 감독규정 제4-32조·제7-45조·제7-51조: first-year remuneration within the first year’s expected premium (제4-32조제5항), and the 1.4 × 표준해약공제액 tolerance under which a 계약체결비용지수 need not be published (제7-45조제11항). Both are asserted by check_acq_cost_cap(). Retrieved: yes.

  • REG-R23 — 보험업감독업무시행세칙 as a whole: 제5-13조 (표준약관 = 별표 15), 제5-16조 (공시기준이율). Retrieved: yes, with a version caveat that travels with the citation.

  • REG-R24 — 시행세칙 [별표 27] 공시기준이율 산출 기준: the four external index yields, the three-month weighted moving average and the 조정률. Retrieved: yes (two weight formulas render as images).

  • REG-R25 — 시행세칙 [별표 15] 표준약관, 492 pp.: 보험나이 제21조 and its six-month rule; 청약철회 제17조; 부활 제27조; 해지 제26조; 보험계약대출 제33조; and the 장해분류표 that defines the 50% 장해지급률 waiver trigger. Retrieved: yes.

  • REG-R26 — 시행세칙 [별표 22] (K-ICS 지급여력) and [별표 24] (보증준비금). Retrieved: no. The 대량해지위험 shock, including the 고환급형 test, is therefore second-hand through REG-R36 and R7 and every claim resting on it carries unverified. This is the instrument-level gap that matters most to this product and to Term_KR_S, because the 고환급형 test is about exactly their 무·저해지 forms.

  • REG-R27 — 제4차 보험개혁회의 보도자료 (2024-11), 계리가정·할인율: the 원칙모형, the 0.1% at 납입완료 convergence, the 0.8% ultimate, and the 30% 이상 additional lapse at a bonus date. Retrieved: yes (the 보도자료 PDF and its 별첨; the 「IFRS17 주요 계리가정 가이드라인」 HWP attachment was not converted, so the guideline’s functional form is unverified).

  • REG-R28 — 무(저)해지환급금 보험 상품구조 개선 (2020 입법예고 and 개정), with the FSS 소비자경보 (2019): the definition of the form, the market count, and the 「전(全) 보험기간 동안 표준형 보험의 환급률 이내로」 framing recorded beside the 고시’s own wording. Retrieved: yes.

  • REG-R29 — 금융위원회, 사업비·모집수수료 개편 (2019-08-01): the 표준해약공제액 stated as a multiple of the monthly premium — 보장성보험 13배 — used here only as a cross-check on the 별표 14 arithmetic. Retrieved: yes.

  • REG-R30 — 자본규제 고도화 (2025-03) and 금융감독원 지급여력비율 현황. Retrieved: in part.

  • REG-R32 — 예금보호한도 1억원 (2025-09-01). Retrieved: in part.

  • REG-R33 — 제10회 경험생명표, as reported by 보험매일: 평균수명 남 86.3세 / 여 90.7세, 65세 기대여명 남 23.7년 / 여 27.1년, applied to new business from April 2024. This is a news article and it is the only retrieved source for the table, which is why mort_table.csv is calibrated to these summary figures rather than built from rates. Retrieved: yes.

  • REG-R34 — 보험개발원 public channels (보도자료 listing, 보험정보 빅데이터 플랫폼): negative evidence that the 경험생명표 is not published in full. Retrieved: in part.

  • REG-R36 — 보험연구원 CEO Report 03호 (2025-04): the K-ICS 대량해지위험 shock table quoted from 별표 22, and the 해약환급금준비금 schedule. Retrieved: yes. (The same document is this product’s R7.)

  • REG-R37 — 보험연구원 정원석 (2019-04-16): the 표준해약공제액 formula by product class with a worked example. Retrieved: yes. (The same document is this product’s R6.)

  • REG-R38 — 국가데이터처 「2024년 생명표 작성 결과」 and 통계청 「2023년 생명표」: the 완전생명표 and its 기대여명, published annually on 만나이 as public-sector open data. This is the public anchor the std mortality construction is calibrated to, and the reason the 보험나이 / 만나이 gap is a stated one-directional bias rather than a correction. Retrieved: yes.

  • REG-R45 — 생명보험협회 공시실, FACT BOOK and 금융통계월보(생명보험편). Retrieved: in part.

  • REG-R48 — 평균공시이율 and 공시기준이율, carrier regulatory disclosure: the series, and the 2026 평균공시이율 of 2.50% that the std 예정이율 is set equal to. Retrieved: in part.

  • REG-R49 — 상법 제4편 보험, 제1장 통칙 (제638조~제664조): contract formation, the 30-day acceptance rule, and 제649조’s termination-at-any-time right, which is what makes surrender a contractual entitlement rather than an option the insurer grants. Retrieved: yes.

  • REG-R50 — 상법 제4편 제3장 인보험 (제727조~제739조의3): 제732조, which voids a contract on the death of a person under 15 and sets the minimum issue age; and 제736조, which obliges the insurer on a refused claim to pay 「보험수익자를 위하여 적립한 금액」 — so a refused claim is not a zero-payment event. Retrieved: yes.

  • REG-R51 — 금융소비자 보호에 관한 법률 제46조, 청약의 철회. Retrieved: yes.

  • REG-R52 — 예금자보호법 시행령 제18조: the ₩100,000,000 payout limit. Retrieved: yes.

  • REG-R57 — 소득세법 제59조의4: the 12% 보장성보험료 세액공제 on up to ₩1,000,000 a year — a credit, not a deduction. Retrieved: yes.

  • REG-R58 — 소득세법 제16조제1항제9호 and 시행령 제25조, 저축성보험의 보험차익 — cited for the boundary this 보장성 product sits outside. Retrieved: yes.

  • REG-R59 — 상속세 및 증여세법 제8조·제34조: the death benefit as estate property, and the premium-payer attribution rule. Retrieved: yes.

  • REG-R60 — 한국회계기준원, K-IFRS 제1117호 제정 의결: the Korean adoption of IFRS 17, whose vocabulary the 감독규정 borrows and under which no 보험료적립금 is booked as a separate statutory reserve — the reason pol_val_pp is a 계약자적립액 and this model computes no reserve at all. Retrieved: in part (the 별첨 HWP carrying the standard’s text was not opened).

Provenance note#

Every entry above traces to _research/whole-life.md, which is the citation ground truth for this product: the fact extraction section by section, the carrier-by-carrier variation table, the fetch failures and the gaps register. That file’s source list is never renumbered, and this page carries its ids verbatim; the [REG-R#] sequence belongs to references/regulatory-and-actuarial-references.md and is a different, separately frozen numbering that is likewise never renumbered. Where the two libraries hold the same document — the 2024 계리가정 decision at R3 and REG-R27, the CEO Report at R7 and REG-R36, the 2019 사업비 presentation at R6 and REG-R37, the FSS 소비자경보 at R4 and inside REG-R28 — both numbers are live and the product documents cite whichever pass established the point, usually both.

The gaps register in the research file is not summarised here and should be read before this product’s numbers are relied on. Its load-bearing items, in order of how much they would change: no 자동대출납입 article was found in any retrieved Korean document, so the absence of a funded-lapse mechanic on this chassis is unverified and finding one would change the chassis in kind; 별표 22 was not retrieved REG-R26, so the K-ICS 대량해지 shock is second-hand; no conventional level-premium 종신보험 약관 was retrieved — the only full 약관 in the set is a 유니버셜 contract [S5] — which is the highest-value single document for the next research pass; no Korean expense rate as a percentage of premium was obtained from any source, so every 사업비 parameter in the model is std bounded above by the 표준해약공제액; no Korean lapse curve by duration is public, so the shape between the two regulatory endpoints is std; and the 제10회 경험생명표 was not sourced at all R12 REG-R34, so mort_table.csv is a std construction and must never be presented as that table.

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