Mortality Rate

Definition

  • A rate measuring the amount of deaths in a specific population in a specific amount of time. Mortality rate is generally expressed in the amount of deaths per 1000 people per year. For example, if 8,000 people die in a population of 1,000,000 per year, then the mortality rate would be 8.0, 0.8%. The mortality rate is commonly used in actuarial science in order to determine risk.

Synonyms
life-expectancy data

Related Terms and Acronyms

  • Actuarial Table Definition,
    • A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
  • Insurance Score Definition,
    • A score used by those in the insurance industry to determine how likely a claim will need to be paid out for an individual or entity.
  • Morbidity Rate Definition,
    • A measurement of how prevalent a medical condition or disease is.
  • Policy Illustration Definition,
    • An outline of how a policy will perform under various conditions over a period of time.
  • Underlying Mortality Assumption Definition,
    • A measurement of death rates that is used to estimate pension obligations and insurance premiums.
  • Yearly Probability of Dying Definition,
    • The likelihood that an individual of a certain age and gender will die within a year.
  • Yearly Probability of Living Definition,
    • The likelihood that an individual of a certain age and gender will still be alive after a year has passed.
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