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
Reinsurance broker for a primary company (the re-insured). This broker is paid commissions by the reinsurance company, just as an agent is paid commissions by an insurance company for ...
Section of a life insurance policy setting the procedure for revoking a current beneficiary and designating a successor beneficiary. Insurers require written notice of a beneficiary change, ...
Provides the same coverage as a comprehensive personal liability insurance policy, plus coverage to exposures that are peculiar to farms, such as farm business operations, farm employees ...
Endorsement attached to an insurance policy that eliminates coverage for certain specified perils. ...
Fee paid to an insurance salesperson as a percentage of the premium generated by a sold insurance policy. ...
Total of interest, dividends, and other earnings derived from the insurance company's invested assets minus the expenses associated with these investments. Excluded from this income are ...
Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
Written contract between an insured and an insurance company stating the obligations and responsibilities of each party. ...
Annuity that guarantees that a specific sum of money will be paid in the future, usually as monthly income, to an annuitant. For example, a $1000-a-month income benefit will be paid as long ...
Have a question or comment?
We're here to help.