Sony Life Makes Revision in Insurance Rates
March 12, 2007
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Overview of Insurance Rate Revisions
(1) Term life insurance (primary-sector products):
Owing to the revision of such factors as the expected mortality rates, insurance premiums will in general decrease.
(2) Comprehensive medical insurance (tertiary-sector products):
In line with revisions to the expected mortality rates, the expected hospitalization rates will be revised. As a result, some insurance rates will increase while others will decrease, depending on policy age and type.
(3) Individual annuities (level-premium items):
Owing to revisions in the expected mortality rates, insurance premiums on whole life annuities with guarantee periods will increase.
(4) Single-premium endowment insurance, educational insurance and individual annuity items:
The assumed interest rate will increase to 1.5% from the current 1.0%. As a result, insurance premiums will decrease. Among individual annuities, however, the impact of revisions in the expected mortality rates will in general cause insurance premiums to increase on whole life annuities with guarantee periods.
(5) Principal insurance products on which insurance rates will not be revised are indicated below.
- interest-rate-sensitive whole life insurance
- variable life insurance
- endowment insurance (excluding single premium insurance)
- educational insurance (excluding single premium insurance)
- living benefit life insurance
- whole life nursing care protection insurance
- variable individual annuities
- Application Timing
The revised rates will apply to policies that are newly written or revised after April 2, 2007.
- Sample Insurance Premiums after Revision
Please refer to the attachments.
Sample Insurance Premiums(
PDF / 37.9KB)
Note: This is an English-language summary of a Japanese announcement made by Sony Life on March 12, 2007. The summary was prepared by Sony Financial Holdings Inc., solely for the convenience of non-Japanese readers.
