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In epidemiology, the excess deaths or excess mortality is a measure of the increase in the number of deaths during a time period and/or in a certain group, as compared to the expected value or statistical trend during a reference period (typically of five years) or in a reference population.
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Universal life insurance (often shortened to UL) is a type of cash value [1] life insurance, sold primarily in the United States.Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.
Standardized mortality rate tells how many persons, per thousand of the population, will die in a given year and what the causes of death will be. Such statistics have many uses: [ citation needed ] Life insurance companies periodically update their premiums based on the mortality rate , adjusted for age.
where is the probability density function of T, is the probability of a life age surviving to age + and + denotes force of mortality at time + for a life aged . The actuarial present value of one unit of an n -year term insurance policy payable at the moment of death can be found similarly by integrating from 0 to n .
The value of statistical life (VSL) in Singapore was estimated in 2007 via a contingent valuation survey that elicits willingness-to-pay (WTP) for mortality risk reductions, which interviewed 801 Singaporeans and Singapore Permanent Residents aged 40 and above, entailing a value of statistical life of approximately S$850,000 to S$2.05 million ...
The least expensive type of life insurance is usually term life insurance. It provides coverage for a specific period — often 10, 20 or 30 years — and is typically much cheaper than permanent ...
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1]