Ultimate Mortality Table
Definition of "Ultimate mortality table"
Presentation of data that excludes the first 5 to 10 years of experience of those who purchase life insurance. A mortality table shows the number of deaths per 1000 of a group of people. Experience shows that people have a lower mortality rate in the first years after they have purchased insurance, probably because they have recently passed a medical and other tests. A select mortality table includes data only on people who have recently purchased insurance. An aggregate mortality table includes all data.
Popular Insurance Terms
Interest of a beneficiary in the proceeds of a survivorship annuity. ...
Life insurance policy under which all premiums have already been paid, with no further premium payment due. ...
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Exceptions and limitations of coverage; that is, the maximum amount of insurance coverage available under a policy. ...
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Method of determining whether or not coverage is available for a specific claim. If a claim arises out of an event during the period when a policy is in force, the insurance company is ...
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