DEFINITION of 'Commissioners Standard Industrial Mortality Table'

A mathematical table used by actuaries to calculate the nonforfeiture values of industrial life insurance policies. Commmissioners Standard Industrial mortality tables establish the minimum amount that must be paid to the policyholder. These tables create uniform payout standards for industrial life insurance policies.

BREAKING DOWN 'Commissioners Standard Industrial Mortality Table'

The life expectancy of the insured in these tables is shorter than that of standard tables like the commissioners' standard ordinary mortality table. Therefore, the premiums for industrial policies are somewhat higher than for standard policies. This is due to the fact that the average life expectancy for the insured in industrial policies tends to be less than those who are insured by stardard life policies.

RELATED TERMS
  1. Ultimate Mortality Table

    A mortality table that lists the death rates of insured persons ...
  2. Select Mortality Table

    A mortality table which outlines life contingency statistics ...
  3. Actuarial Life Table

    A table or spreadsheet that shows the probability of a person ...
  4. Tax Table

    A table or chart displaying the amount of tax due based on income ...
  5. Universal Life Insurance

    A type of flexible permanent life insurance offering the low-cost ...
  6. Variable Life Insurance Policy

    A form of permanent life insurance, Variable life insurance provides ...
Related Articles
  1. Retirement

    Understanding Different Types of Life Insurance

    Understand the various types of life insurance, how each can be used in personal or business financial planning, and for whom they are best-suited.
  2. Insurance

    Understanding Taxes on Life Insurance Premiums

    Learn about the tax implications of life insurance premiums, including when they might be taxable and whether they are tax deductible.
  3. Personal Finance

    The Best Life Insurance for Military Families

    Two of the most common types of life insurance are term and whole life. Here's why the latter isn't a good idea for most military families.
  4. Financial Advisor

    Getting Life Insurance in Your 20s Pays Off

    Find out how Americans in their 20s can benefit from a well-thought-out life insurance policy, especially if they are able to build cash value for retirement.
  5. Financial Advisor

    Is Life Insurance From Your Employer Enough?

    Covering the needs of the ones you would leave behind is not easy. But efforts to secure a life insurance policy outside of work should pay off.
  6. Insurance

    What Is the Best Age to Get Life Insurance?

    Learn about the optimal time for purchasing personal life insurance and why delaying the buying decision may have costly consequences.
  7. Financial Advisor

    Buying a Life Insurance Policy? Read This First

    Knowing who needs life insurance, how it works and the different types of insurance can help consumers make informed decisions about this product.
  8. Insurance

    How To Invest In Insurance Companies

    Knowing the special circumstances that insurance companies operate under helps in evaluating whether or not a listed insurance company is a good investment and whether the economic environment ...
Hot Definitions
  1. Expense Ratio

    A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual ...
  2. Pro Forma

    A Latin term meaning "for the sake of form". In the investing world, it describes a method of calculating financial results ...
  3. Trumpcare

    The American Health Care Act, also known as Trumpcare and Ryancare, is the Republican proposal to replace Obamacare.
  4. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
  5. Portable Alpha

    A strategy in which portfolio managers separate alpha from beta by investing in securities that differ from the market index ...
  6. Run Rate

    1. How the financial performance of a company would look if you were to extrapolate current results out over a certain period ...
Trading Center