What is the ogden rate in insurance?

Ogden rate is used as the calculation of the amount which is given for the compensation of the sufferers. It is a type of calculation which is used to find out how much amounts are paid to the victims so that it will cover up the losses in future and help with the risks. Ogden rate is also called discount rate which is 0.25 per cent for the injury. Ogden tables use to calculate the compensation provided to the sufferers by the lawyers and others. Higher discount rate represents the increasing money upon the time.
So this is a very important term in insurance which tells about the amount that is used to compensate the victims and that is why ogden is created by the insurance company. The normal discount rate is around 6 to 12 percent of the range. This part of insurance can help the people in the risky time and cover up the damage.