non-participating insurance
Insurance policy that does not pay dividends to the policyholder; typically contrasted with 有配当保険 (participating insurance).
Non-participating insurance often has lower premiums because it does not pay dividends.
Participating insurance that pays dividends to policyholders, unlike 無配当保険.
Compound of 無 (mu, 'without'), 配当 (haitō, 'dividend'), and 保険 (hoken, 'insurance').