Definitions for "Mortality charge"
The cost of the insurance protection based on a statistical projection of future deaths.
The cost of insurance protection in a life insurance policy for a given period of time. In a variable universal life insurance policy, for instance, the mortality charge is deducted from the cash value each month.
This is the cost of insurance protection element of a universal life and variable universal life policy. This charge is based on the net amount at risk, the insured's current age and the insured's risk classification when the policy was purchased. ()
Keywords:  mortgage