Mortality and Expense Risk Charge
Definition
- A fee applied to some insurance and annuity products to pay the insurer for risks assumed by the contract.
Synonyms
risk charge, mortality risk charge, expense risk charge
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.
- Exposure — Definition,
- How much liability an insurer takes on when they write an insurance policy.
- Loss Control — Definition,
- The combined efforts undertaken by both the insurer and the insured to lower the risk, frequency and extent of potential losses.
- Peril — Definition,
- Anything that poses a risk of loss, which may or may not be insurable depending on the potential for risk.
- Premium — Definition,
- A payment made to an insurance company for insurance coverage.
- Risk Class — Definition,
- A number of people who are grouped together because they pose similar levels of risk to an insurance company.
- Risk Management — Definition,
- The methods used to identify, assess, and prioritize risk and the strategies used to manage them in the most effective and economical way possible.
- Underwriting Risk — Definition,
- The total amount of risk an entity takes on from underwriting something.
