A mortality charge is a fee associated with certain types of insurance policies, particularly those related to life insurance or annuities. It is calculated based on actuarial data regarding the likelihood of policyholders dying within a given period. The mortality charge helps insurers cover the risk of paying out death benefits to beneficiaries. It is typically included as part of the overall cost of the insurance policy and is deducted from the policyholder’s premiums or account value. The amount of the mortality charge can vary depending on factors such as the age, health, and coverage amount of the insured individual, as well as the type of insurance policy and prevailing market conditions.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/mortality-charge/
- Modern Language Association (MLA):Mortality Charge. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/mortality-charge/.
- Chicago Manual of Style (CMS):Mortality Charge. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/mortality-charge/ (accessed: May 09 2024).
- American Psychological Association (APA):Mortality Charge. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/mortality-charge/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts