The expected incidence of death within a given group during a given period of time as shown on a mortality table.

One of the uses of Life Insurance. It is designed to provide money for a child’s education should the breadwinner of the family die.

The mortality that actually occurs within a group of insureds of a given insurance company, in contrast to expected mortality. (See Expected Mortality.)

Requirements imposed for eligibility for coverage, usually in a group insurance or pension plan.

The actual mortality or morbidity experienced in a group of insureds, as compared to the expected mortality or morbidity.

A contract provision permitting the insurer to defer granting a loan on the sole security of the policy for any other purpose than that of paying premiums on the policy for a stated interval of time.

One of the uses of Life Insurance which provides money for the emergency expenses of a deceased’s family prior to the final settlement of the estate.

The termination of a Term Life Insurance policy at the end of its period of coverage.

In Life Insurance, a clause deferring payment to the beneficiary for a specified period after the death of the insured with proceeds to be paid to contingent beneficiaries or the estate if the primary beneficiary does not survive the delay. It is used as one method of handling common-disaster situations, such as the death of the insured and the death of the primary beneficiary occurring in the same accident. The clause usually states that the beneficiary has to survive the death of the insured by a certain period of time in order to collect.

Benefits offered to an employee, by his employer, covering such contingencies as medical expenses, disability, retirement, and death, which are usually paid for wholly or in part by the employer. These benefits are usually insured.