Select Mortality Table
Mortality table that includes data only on people who have recently purchased life insurance. Experience shows that such people have a lower mortality rate in the years immediately following their purchase of insurance than those who have been insured for some time, probably because they have recently passed medical and other tests, and because they are younger. For example, a select mortality table would show the number of deaths per 1000 of individuals age 30 who have been insured for one year. An ULTIMATE MORTALITY TABLE shows the rate of the group, exclusive of the initial period after the purchase of insurance. An aggregate mortality table includes all data.
Popular Insurance Terms
Contract providing income payments beginning when the named contingency occurs. For example, upon the death of one spouse (the contingency), a surviving spouse will begin to receive monthly ...
Use of a life insurance policy dividend by the owner of a participating policy. Here the policy dividend is left with the insurance company to accumulate at a guaranteed minimum interest ...
Insurance policies covering various business risks. ...
Same as term Contract Holder: in insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...
Business owned by stockholders, as contrasted to a mutual insurance company, which is owned by its policyholders. Many major life insurers are mutual companies whereas some leading ...
Coverage on jewelry and precious stones on an all risks basis at any location subject to exclusions of wear and tear, war, and nuclear disaster. Each item must be specifically listed in the ...
Same as term Additional Insured: individual added to a life insurance policy other than the insured named in the policy. For example, an insured father can have a dependent son and daughter ...
Coverage giving income benefits to surviving family member (s) if one member should die. These include the family income policy, family income rider, family maintenance policy, and the ...
Policy providing businesses with coverage for negligence based civil liability in: (1) Bodily injury and property damage liability, on an occurrence basis, resulting from the ownership, ...
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