Which of the following is used to assess financial payouts based on mortality risks?

The choice of "mortality table" is correct because mortality tables, also known as life tables, provide statistical data that represents the frequency of deaths within a specific population at various ages. These tables are essential tools in the insurance industry as they help actuaries and insurers estimate the probability of death at different ages and thereby assess the potential financial payouts associated with life insurance policies.

Mortality tables are the foundation for determining life insurance rates, as they allow insurers to understand the risks associated with insuring individuals of different age groups. By analyzing this data, insurers can set premiums that are commensurate with the risk of loss they are assuming. The use of mortality tables is critical in ensuring that the insurance company remains financially stable while also providing the necessary benefits to policyholders’ beneficiaries when the need arises.

Other options, such as life insurance rates, do derive from mortality tables but are more about the cost of insurance rather than the assessment and projection of financial payouts based on mortality. Risk assessment tables and benefit tables are not standard terms used in this specific context of mortality risk assessment.