What is the Definition of Morbidity Rate?

What is the Definition of Morbidity Rate?

The rate at which sickness and injury occur within a defined group of people. Insurers base health insurance premiums in part on the morbidity rate for a proposed insured’s age group. Contrast with Mortality rate.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Morbidity Rate?

What is the Definition of Morbidity Rate?

You can find random definition and meaning of insurance terms below:


Meaning of Annuity Contract Owner in Insurance Terms

The person or entity that purchases an annuity and has all rights to the contract. Usually, but not always, the annuitant (the person who receives incomes from the contract).


Meaning of Annuity Cost in Insurance Terms

A monetary amount that is equal to the present value of future periodic income payments under an annuity. (See Gross annuity cost; Income date; Net annuity cost)


Meaning of Annuity Death Benefits in Insurance Terms

The guarantee that if an annuity contract owner dies before annuitization (the switchover from the savings to the payment phase) the beneficiary will receive the value of the annuity that is due.


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