Question

What are mortality rates and how are they used in the Numerical Rating Method?

a.

The ratio of total deaths that occurred in a given population at a certain area over a specified period of time

b.

The ratio of total births that occurred in a given population at a certain area over a specified period of time

c.

The ratio of total deaths that occurred in a given population at a certain area over the entire population

d.

The ratio of total deaths that occurred in a given population at a certain area over the entire population over a specified period of time

Posted under IC22 Life Insurance Underwriting

Answer: (d).The ratio of total deaths that occurred in a given population at a certain area over the entire population over a specified period of time Explanation:Mortality rates refer to the ratio of total deaths that occurred in a given population at a certain area over the entire population over a specified period of time. Mortality rates for all factors are determined, and for each adverse factor, a credit rating is added to the base rating.

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Q. What are mortality rates and how are they used in the Numerical Rating Method?
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