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
Coverage for exposures that exhibit a possibility of financial loss. ...
Insurance company's net gain from operations divided by its adjusted surplus. This is the accounting rate of return on stockholder's equity since the ratio shows the rate of return the ...
Premise that, out of a large group of people, a given number will die each year (conversely, a given number will remain alive each year) until all the people in that original group are ...
Record of debit or industrial insurance policies. ...
Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Policy similar to that of an individual universal life insurance policy except that the coverage is provided (up to a limit) without the requirement of the submission of evidence of ...
Hospital insurance program that provides medical professional liability insurance coverage to non employed hospital physicians. The objective of this means of insurance coverage is to ...
Coverage required by the laws of a particular state. For example, many states stipulate minimum amounts of automobile liability insurance that must be carried. ...
Annuity with no fixed schedule for payment of premiums. For example, premiums can be paid for 10 straight months, then not paid for the next 10 months, then paid every other month, or any ...
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