What does Basic Mortality Table mean? Read on to discover the definition & meaning of the term Basic Mortality Table - to help you better understand the language used in insurance policies.
Basic Mortality Table
A basic mortality table is a tool that life insurance companies use to analyze the probability that a person will die in the next year. The probability that comes up when a person is analyzed with a basic mortality table can dramatically impact insurance rates and premiums. The more likely the person is to die, the higher the premiums generally tend to be
We hope the you have a better understanding of the meaning of Basic Mortality Table.