Q. How does a higher mortality rate affect insurance premiums in products covering critical illnesses?

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Q. What does morbidity rate refer to?

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Q. How is mortality rate defined?

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Q. What factors influence the mortality rate used by insurers?

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Q. What is the purpose of constructing life tables?

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Q. Which of the following is NOT a factor considered in choosing a mortality rate?

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Q. What is the purpose of making pessimistic and optimistic estimates for mortality or morbidity rates?

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Q. How does the insurer adjust mortality rates for assured lives and annuitants?

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Q. What factors are considered in determining mortality or morbidity rates?

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Q. How does the importance placed on mortality or morbidity rates depend on the product?

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Q. What data sources can be used if a company or product has no historical experience?

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Q. What factor influences the mortality experience of the insured population based on the target market for the contract?

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Q. How does the type of product affect underwriting controls?

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Q. What is the purpose of underwriting controls in the insurance industry?

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Q. How does strict underwriting benefit customers?

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Q. What additional benefit is gained with strict underwriting controls?

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Q. What factor influences the decision on mortality rates used by insurers?

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Q. Why is it important to assess the expected change in experience over time?

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Q. How often are historical investigations typically conducted?

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Q. Which type of insurance contract is considered to have higher mortality risk?

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