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Premium, Loading, Reserves. Oh my!

MIE – nope, this isn’t what Miss Piggy is famous for saying. Rather, it’s an acronym for the three factors considered in figuring rates for an individual life policy. “M” is for Mortality. “I” is for Interest Rates. “E” is for Expenses. Mortality are the death claims the company expects to pay. This uses a [...]

Is my age all that matters?

Pick a feature, any feature – age, sex, occupation, physical condition, personal activities, financial status, and moral hazards. These are all characteristics the insurer could look at when underwriting an individual policy. Mortality Tables are ignored and race, ethnicity and nationality aren’t a consideration. In addition, poor taste in clothes and a bad sense of [...]

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