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The definitions contained herein are for general information only and are not designed for use in connection with the interpretation of any insurance policy or annuity policy issued through Insurance Answer Center.
Life Insurance Glossary Terms  4 A B C D E F G H I J K L M N O P Q R S T U V W Y

Mortality Charge

This is the cost charged by an insurance company for the insurance protection and certain expenses under an interest-sensitive whole life or universal life insurance policy. This charge is deducted (usually each month) from the policy's account value. It is based upon the net amount at risk under the policy, the insured's risk classification when the policy was purchased and the insured's attained age. Although an insurer reserves the right to change the cost of insurance charges, they cannot exceed a maximum specified in the policy.

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