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Simple English definitions for legal terms

Mortality Charge

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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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13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
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13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
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14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
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