How Is a Mortality Charge Determined and What Is It?

How Is a Mortality Charge Determined and What Is It?

A mortality charge is the cost of pure life insurance, which is based on experience tables developed by actuaries and on actual mortality experiences. Each life insurance company has their own mortality charges based off information from these tables. The difference in mortality charges among life insurance companies can have a greater impact on a policy’s performance than any interest return or dividend.

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Why Are Life Insurance Premiums More Expensive as I Get Older?

Why Are Life Insurance Premiums More Expensive as I Get Older?

There are many important factors determining a person’s insurability and the amount of premium they will be charged for a life insurance policy, but age is the single most important. Because the possibility of death increases with age, this is the first stop in determining the risk classification a person falls into, which also determines how much they will be paying for coverage.

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