Mortality and Expense Risk Charge
- A fee applied to some insurance and annuity products to pay the insurer for risks assumed by the contract.
expense risk charge, mortality risk charge, 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.