mortality factor.Insurance. In life-insurance ratemaking, an estimate of the average number of deaths that will occur each year at each specific age, calculated by using an actuarial table. • The mortality factor is one element that a life insurer uses to calculate premium rates. See ACTUARIAL TABLE; PREMIUM RATE. Cf. INTEREST FACTOR; RISK FACTOR. [Cases:

Insurance 1542(1). C.J.S. Insurance § 66.]

[Blacks Law 8th]