What data is used to show the rate of deaths at different ages?

Prepare for the Insurance Commission Traditional Life Exam with quizzes, flashcards, and multiple choice questions, each providing hints and explanations. Ace your exam!

The correct answer is the mortality table, which is a statistical tool that provides data on the probability of death at different ages within a specified population. Mortality tables, also known as life tables, display the number of individuals expected to die at various age intervals and are essential for actuaries and insurance providers when determining life insurance premiums and benefits.

Mortality tables take into account various factors that can influence the likelihood of death, such as age, sex, and sometimes health status. By analyzing this data, insurers can better assess risk and align their pricing and coverage options accordingly.

On the other hand, a life expectancy table focuses more on the average number of years remaining for people at a specific age, which is a broader concept and does not directly reflect probabilities of death at various specific ages. Risk assessment tables may include a range of variables to evaluate the risk of insuring an individual but do not focus solely on death rates. Demographic tables provide general population statistics and trends but do not specifically address mortality rates.

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