The Law of Mortality

The Law of Mortality, often discussed in fields like insurance and healthcare, refers to the statistical principles that predict death rates within a population. It highlights that individuals have a certain probability of dying at different ages or stages of life. This information helps insurers calculate risks and set premiums, enabling them to manage financial aspects related to life coverage. Essentially, it provides a framework for understanding life expectancy and risks associated with aging, helping societies plan resources and services for various demographics.