EOM 7: Mortality per month or year?

[Bored Insomniac]

In the three mortality/experience tables, are the mortality rates per month? I assume this is why the model is set up to multiply by 12 in cell B119, but I'm hoping to make sure before I describe the data that way.

[Kilgz]

It looks like we're estimating "expected claim cost per $1,000 insured." so it should be irrelevant after we divide expected claims by total salary.

On the other hand, the x 12 looks wrong to me, because we divide by a $59,000 salary to get the 2,500 exposure group in member years. I'm thinking the company doesn't pay $59k on average monthly...

[BillsSBBound]

In the instructions, it says the following:

There are three data sources available to you (all mortality rates are per month per $1000 of coverage):
1. Your own company's existing group life experience for the past five years.
2. A manual table from a reliable industry source.
3. The last five years of GreenCo's own experience.

So yes, it's per month per $1,000