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Simple English definitions for legal terms

Mortality Charge

Read a random definition: amortized mortgage

A quick definition of Mortality Charge:

Mortality Charge: A fee that a person pays to their life insurance company to cover the potential loss the company may face if the policyholder unexpectedly passes away. This fee is also known as a "cost of insurance" charge and is calculated based on the likelihood of future mortality. The average fee is around 1.25% per year.

A more thorough explanation:

A mortality charge is a fee that a person pays to their life insurance company to compensate for the potential loss that the insurer may face if the policyholder dies unexpectedly. This fee is also known as a "cost of insurance" charge (COI) and is usually deducted from the monthly payment.

For example, if a person has a life insurance policy with a monthly premium of $100 and a mortality charge of 1.25%, they would pay an additional $1.25 each month to cover the potential loss.

The mortality charge is calculated based on the insurer's expectations of future mortality, which means that the fee may vary depending on the policyholder's age, health, and other factors.

Overall, the mortality charge is an essential component of life insurance policies as it helps insurers manage their risks and provide financial protection to policyholders and their beneficiaries.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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