What is ‘Valuation Mortality Table’
A statistical chart that is used by insurance companies to calculate the statutory reserve and cash surrender values of life insurance policies. A mortality table shows the death rate at any given age in terms of the number of deaths that occur for every thousand individuals of that age; it provides statistics regarding the likelihood that a person of a given age will live X number of years. This allows the insurance company to assess risks in policies.
Explaining ‘Valuation Mortality Table’
A valuation mortality table typically has a safety margin integrated into the mortality rates to protect the insurers. Life insurance companies use valuation mortality tables to determine the amount of liquid assets that they are required by statute to set aside for claims and benefits – the legal reserve.
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