IunsurTech Terminology

The following is a list of bilingual life insurance terminology extracted from reliable sources, such as textbooks from the Society of Actuaries of Japan and the United States. Use it at your own risk.

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Commutation function

Commutation functions simplify the calculation of numerical values for many actuarial functions. Examples: Dx, Nx, Cx, Mx


Discount factor

ν = 1/(1+i)


Rate of discount

d = i/(1+i)


Specified insurance contract under Article 300-2 of the Insurance Business Act of Japan

Life insurance with market risk, such as variable life insurance, variable annuities, and foreign-currency-denominated insurance.