Release of New Product:
U.S. Dollar-Denominated Whole Life Insurance “Candle”
―Foreign currency-denominated whole life insurance with an investment in U.S. dollars added to the product lineup―

TOKYO, Japan – March 12, 2019 – ORIX Life Insurance Corporation (hereinafter referred to as “ORIX”) is pleased to announce that it will release U.S. dollar-denominated whole life insurance “Candle” (non-dividend, designated currency-denominated special whole life insurance [low cash surrender value type], hereinafter referred to as “the product”) on April 2, 2019.

The product is a U.S. dollar-denominated level premium whole life insurance that ensures the security for death and disability for a lifetime. It invests in U.S. dollars that have relatively high interest rates compared to Japanese yen. In addition, it ensures the security for a lifetime with comparatively low premiums and enables high savings after the premium payment period by keeping the insurance benefits and cash surrender value relatively low during the premium payment period.

With the arrival of the 100-year life, as well as with the progress of the review of the social security system due to the advancement of the falling birth rate and the aging population, an individual's self-help efforts increasingly become important in order to build up assets, taking a long life into consideration. In such an age, ORIX has developed the product to satisfy the needs of customers who hope to ensure the security for a lifetime and build up assets in a rational manner.

Going forward, ORIX will provide a variety of products in each area of death security, health security and asset building, which meet the needs of the age, and will strive to continue to be an insurance company chosen by many customers.

＜Product structure＞

＜Disclosure of health-related information＞

＜Examples of insurance premiums＞

＜Notes＞
■ Foreign exchange risk
This insurance is exposed to foreign exchange risks.
● This insurance is U.S. dollar-denominated. When insurance premiums, insurance amount, cash surrender value, etc., are converted to yen, they are affected by changes in exchange rates.
・ Due to changes in exchange rates, the yen equivalent of insurance amount or cash surrender value to be received may fall below the total insurance premiums paid in yen, resulting in a loss.
・ Due to changes in exchange rates, the yen equivalent of insurance amount or cash surrender value to be received may fall below the yen equivalent of insurance premiums and cash surrender value when a contract was entered into, resulting in a loss.
* Even if there were no changes in exchange rates, the amount to be received may fall below the total amount of insurance premiums paid because exchange fees are deducted.
● Since the riders on payment in yen have already been added to this insurance contract, insurance premiums, etc., can be paid in yen (they may not be paid in U.S. dollars). The insurance premiums will increase or decrease depending on changes in exchange rates as prescribed by ORIX.
● If riders on receipt in yen are added and insurance premiums, cash surrender value, etc., are received in yen, they are affected by changes in exchange rates as prescribed by ORIX.
● The exchange risks relating to this insurance contract attribute to policyholders and the assured.

■ Expenses
There are various expenses ORIX will ask you to pay with regard to this insurance.
The expenses include the following:
● Expenses that are deducted from insurance premiums:
Expenses, etc., related to execution and maintenance of insurance contracts, death security, etc., are deducted from insurance premiums paid. Since these expenses differ depending of insurance age, sex, etc., a uniform calculation method cannot be stated.
● Expenses when insurance premiums, etc., are paid:
The riders on payment in yen has already been added to this insurance contract. The exchange rates prescribed by ORIX (TTM + 0.01 yen / USD 1 of the bank designated by ORIX as an index), which are applied to insurance premiums, etc., when they are paid in yen, include exchange fees.
● Expenses when insurance premiums, cash surrender value, etc., are received in yen:
Under this insurance contract, insurance premiums, cash surrender value, etc., can be received in yen by adding riders on receipt in yen. The exchange rates prescribed by ORIX (TTM - 0.01 yen / USD 1 of the bank designated by ORIX as an index), which are applied in such a case, include exchange fees.
* Exchange rates prescribed by ORIX are those as of April 2019 and may be changed in the future.
● Expenses when insurance premiums, cash surrender value, etc., are received in U.S. dollars:
Various fees (e.g., lifting charge) may be required by some financial institutions. Please check with the financial institutions you use with regard to the amount of such fees, payments, and so on.
● Expenses when the insurance contract is cancelled or the insurance amount is reduced:
When the insurance contract is cancelled or the insurance amount is reduced, for the period of ten years from the date of contract, the predetermined amount is deducted from the policy reserve depending on the period elapsed (the number of months in which insurance premiums were paid). Since the amount to be deducted differs depending on the period elapsed, etc., a uniform calculation method cannot be stated.
● Expenses if the insurance amount is received from a pension (in case that riders on pension are added):

After the commencement date of pension payment, 1.0% (as of April 2019) of the pension benefit is deducted from the pension fund on the pension payment date.

* These materials describe the outline of the product. When reviewing life insurance contracts, please be sure to check the product booklet, policy leaflet, policy provisions, documents issued before entering into a contract (overview of the contract and information calling for attention), and so on.

Contact Information:
ORIX Corporation
Corporate Planning Department
Tel: +81-3-3435-3121

About ORIX:
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 38 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of September 30, 2018)

Caution Concerning Forward-Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2017 – March 31, 2018.”