Asked by IBRAKHIM KATCHIEV on May 15, 2024
Verified
What is a mortality table?
A) A table that lists the premiums that a person pays each month for life insurance.
B) A table that lists the probability of a person of a particular sex and age dying before his or her next birthday.
C) A table that lists the probability of a person of a particular sex and age discontinuing insurance due to illness.
D) A table that lists the probable causes of death of a person based on his or her sex and age.
Mortality Table
A statistical table showing the probability of death for individuals at each age, used by insurance companies to determine premiums.
Probability
A measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.
Premiums
The amounts paid regularly to an insurance company in exchange for coverage, protecting against financial losses.
- Acquire knowledge on how mortality rates are calculated and their impacts on insurance operations.
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Learning Objectives
- Acquire knowledge on how mortality rates are calculated and their impacts on insurance operations.
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