Morbidity Rate
Definition
- A measure of the incidence rate or prevalence of a medical condition or disease. Used commonly in epidemiology and actuarial science, the morbidity rate, in addition to the mortality rate and a number of other metrics, is used by insurance companies to determine risk, and by extension premiums, for insurance policies including health, life and long-term care insurance policies.
Synonyms
incidence rate, illness statistic, disease prevalence rate
Related Terms and Acronyms
- Actuarial Table — Definition,
- A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
- Health Insurance (HI) — Acronym,
- Insurance that covers the costs of medical expenses for insured persons.
- Long Term Care Insurance (LTC) — Acronym, Important,
- Insurance that covers health care costs for individuals with chronic or disabling conditions.
- Mortality Rate — Definition,
- A measurement of how many people in a particular population set and in a particular period of time die.
- Policy Illustration — Definition,
- An outline of how a policy will perform under various conditions over a period of time.
- Pre-existing Condition (PRE-X) — Acronym,
- A medical condition that's occurrence precedes the writing of an insurance policy.
- Survival Analysis — Definition,
- A statistical analysis of how likely someone or something will survive to a set date.
- Yearly Probability of Dying — Definition,
- The likelihood that an individual of a certain age and gender will die within a year.
- Yearly Probability of Living — Definition,
- The likelihood that an individual of a certain age and gender will still be alive after a year has passed.
